25 Nov 2021

Senior FX Trader at Absa Bank Limited

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Job Description

Absa Bank Limited (Absa) is a wholly owned subsidiary of Barclays Africa Group Limited. Absa offers personal and business banking, credit cards, corporate and investment banking, wealth and investment management as well as bancassurance.

To provide specialist advice & support in area of specialisation; enabling the provision of sound pricing and execution of trades, maximising assets and minimising financial risk.

Purpose of the role:

To be accountable for FX and FX FWDS trading, focusing on executing the separate and distinct mandates as they relate to the Trading Book Portfolio. Ensuring that all risks are managed under the separate portfolios in line with the respective dealing mandates and the respective policies and procedures, with special focus being placed on the management of the Investment portfolio, funding and liquidity and trading income.

Main Accountabilities & Time Split:

Markets:

To be accountable for the Markets function, focusing on executing all FX and FX-Swap Trading, as may be relevant, whilst achieving income and business unit growth objectives.

Ensuring the traders undertake the following:

The generation of FX Trading and FX FWDS in line with the overall objectives and aspirations of the Markets business. The provision of pricing to the Interbank market and to the Sales dealers.

Ensuring that that all risks are managed under the respective portfolios according to the dealing mandate and the respective policies and procedures (adherence to market risk limits, credit risk limits, tenor limits).

Trading – 70%

Key actions to include:

  • Executing trading strategies in line with the overall Markets strategy, the Absa Africa trading strategy, and the trading mandate
  • Anticipating market developments and identifying trade opportunities with risk-adjusted superior returns
  • Ensuring that the daily transactions and trading activities conform to the set business unit goals and objectives
  • Working closely with the Africa trading desk and Africa Sales to support the roll out of Risk Management Products (RMP’s)
  •  Keeping up to date with market intelligence and market movements and regularly updating the treasurer, the sales team, and the broader treasury team
  • Generating a daily flash P&L by the cut-off time as advised by Absa Africa Trading
  • Establishing excellent working relationships with bank counterparties and the regulator (as is appropriate

Risk Management & Reporting – 20%

Key actions to include:

  • Participation in the annual planning and review of trading STP, RAF and MTP budgets
  • Giving input on dealer mandates for further review by the Head of Trading prior to submission to Head of Markets and Risk.

Self-Development – 10%

Key actions to include:

  • Actively managing one’s own and the team’s technical and soft skills development
  • Researching, identifying, and proposing training solutions to senior management for one’s own and for the team’s development
  • In everything one does, demonstrating the Absa Values

Requirements

Experience Required:

  • 5-10 Years banking Experience
  • Market Making experience
  • Funding experience
  • Management experience
  • Trading experience
  • In-depth trading knowledge / experience of local market Rates and FX products

Knowledge & Skills Required

  • Understanding of the policies, procedures, and ethical requirements of a Treasury environment
  • Skills required to undertake the Leadership role:
  • Subject matter expertise and relevant experience (banking and Treasury)
  • Leadership and team management
  • Negotiation skills
  • A good communicator who can articulate the rationale for liquidity control and add value to business stakeholders
  • Performance Imperatives:
  • Delivering results,
  • Awareness of market trends,
  • Achieving high standards & best practices,
  • Understanding of the Markets Business Model.
  • Understanding of Markets operational processes and controls
  • Excel competency
  • Understanding of the mathematics of pricing for FX and related products
  • Understanding of political and economic activity and the impacts on exchange rates and interest rates

Education

  • Bachelor`s Degrees and Advanced Diplomas: Business, Commerce and Management Studies (Required)


Method of Application

Submit your CV and Application on Company Website : Click Here

Closing Date : 20 December. 2021





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