Role Requirement

We are looking for a Central Securities Depository (CSD) Manager who will be accountable for providing clearing and settlement services for the Lusaka Securities Exchange (LuSE). The CSD Manager will manage the processes of clearing and settlement, manage the database for settlement services to ensure that the CSD has correct and up to date shareholder records as well as provide clearing and settlement services for all transactions conducted on the CSD in order to enhance the market for easy domestic and foreign participation.

This role will be reporting to the Chief Executive Officer to carry out both strategic and operational functions.

Responsibilities

• Administers the deposits and withdrawal processes with the sub-custodians to ensure securities are deposited in the shareholders accounts in the depository for on-ward trading and to reconcile with the issuer’s main register.
• Provides and administers the Custodial Services to Pension Funds/ Institutions to ensure institutions reconcile their holdings on a timely basis and make informed decisions and pay for the services promptly.
• Processes corporate actions, Rights Issues, Bonus issues, interest payments, dividend payments in order to keep track of salient dates related to corporate actions announced by the companies.
• Supervises the process of clearing and settlement for all instruments to ensure same day delivery of securities and funds is achieved (DVP).
• Confirms Depository Receipts to assist the Custodians to reconcile the register with the counterparty market/Issuer register.
• Liaises with market participants i.e. Transfer secretaries, Brokers, Custodian Banks.
• Maintains the registers used for computing dividends, advisory services by sponsoring brokers.
• Updates LuSE’s page on the Association of African Stock Exchanges website to ensure the page is up to date. Update information for the CSD to the Association of National Numbering Agencies (ANNA) as per the guidelines of ANNA and update the Africa and Middle East Depositories Association (AMEDA) with their information needs on the CSDs.
• Compute and generate ISIN codes for all the securities listed on the market which is recognized globally.
• To upload all information from initial public offers into the floatation accounts of the shareholders.
• Attends to Shareholders’ enquiries both domestic and foreign in order to ensure that the enquiries are resolved.
• Produces quarterly CoSSE, ASEA and CSD reports and management reports and provides reports to inform the Board on the activities and operations of the CSD. Providing advice on any changes to the CSD administration which will affect the CSD Rules.
• Monitors provision of Bond Trustee Services.
• Manage and supervise CSD staff to enhance productivity.
• Provides transfer secretarial services. Process pledges and repurchase agreements.
• Carry out any other duties related to as assigned by the supervisor.

Qualifications

• Education and Qualifications: Bachelor’s degree in Computer Science, Law, Banking and Finance/Accountancy, Economics, Business Administration or a related Business field.
• Experience:  5+ years’ experience, either in the Capital Markets, Financial sector or in a similar corporate environment.
• Knowledge of financial markets operations is a must.
• Best Practice/Member of relevant accredited Professional Association.
• Proficiency with computers, especially MS Office and Business and Enterprise support systems.
• Exceptional active listening and verbal and written communication skills.
• Strong research, decision making, critical thinking, and problem-solving skills.
• Awareness of industry trends and knowledge of CSD operations.

Applications including CV and copies of certificates should be e-mailed to [email protected] not later than 12/06/2024. Please note that only shortlisted candidates will be contacted.