JOB PURPOSE

The job holder will be responsible for executing money market and fixed income transactions within the limits allocated with a view to maximize profitability. To ensure optimal funding mix and funding cost while ensuring risk and liquidity levels are aligned with the overall strategy of the bank. The position is responsible for generating revenue through active trading and management of the various treasury products while mitigating underlying risks to ensure growth of the bank’s forex business on a sustainable basis. The focus is to generate FX income and management of various risk for the bank in addition to funding the bank through various FX products.

KEY RESPONSIBILITIES

• Money market/foreign exchange trading
• Cash & liquidity management
• Compliance & controls
• Personal leadership development
• Risk & compliance

Money Market/Foreign Exchange Trading

• Monitor and project daily cash positions and execute money market transactions to ensure the funding mix and funding cost are in line with the bank’s strategies and liquidity and interest rate risks and are within and in compliance with internal limits and regulatory requirements.
• Coordinate with Operations Department to ensure smooth execution and settlement of treasury transactions.
• Carrying out market survey and intelligence to establish market expectations on interest rate trends.
• Manage the RTGS payment system & control real time payments to ensure customer satisfaction & compliance with RTGS rules by the Central Bank local clearing accounts, intraday liquidity facility (ILF) and Domestic Foreign currency (DFCC) accounts and East Africa Payments accounts.
• Trade in money market instruments to achieve budget interest income revenues.

Cash & Liquidity Management

• Manage pricing, profitability, liquidity and cash flow management.
• Management of the bank’s cash flows in local and foreign currencies to enable the bank meets its daily obligations.
• Manage the cash positions generated by branch cash deposit and cash withdrawals.
• Manage the bank’s liquidity position with a view to ensuring that all accounts are well funded always to meet the daily and future payment obligations.
• Manage Surplus Liquidity and Liquidity Buffers to optimize risk / return;

Compliance and Controls

• Manage all Inter-Bank money market unit activities ensuring all procedures and policies are followed without exception.
• Actively contribute to improvements in quality/efficiency of treasury products delivery processes
• Trade in Foreign Exchange to achieve budget for foreign exchange revenue.
• Manage the bank’s currency positions with a view to ensuring that all positions are properly documented, and revenue targets are met within prescribed limits.
• Manage the positions generated by the corporate and retail transactions and ensure profitable covering of all transactions affecting the Bank’s currency positions.
• Manage pricing & spot rate given to all units for the department to ensure deals are profitably booked.
• Product development to hedge against exposure created by customer transactions e.g. spot, forward and swaps.
• Keep track of exchange and interest rate movements in local   and   international   markets   while   managing   the bank’s position in accordance with the market trends.
• Servicing currency requirements for corporate clients and ensuring maximum returns from these relationships.
• Support the training program of Trainee & Junior dealers in the unit
• Undertake other duties assigned by the Department Head from time to time
• Contribute to plans for growing the funding base and other businesses of the bank
• Advise strategies to maximize revenue under limited resources.
• Network with internal customers & external market counterparts, in order to solicit customers’ feedback, gain market intelligence, benchmark trading techniques, and enhance the Bank’s profile in the market.
• Contribute to building the bank’s reputation in the international and local markets through personally demonstrating high level of professionalism at all times.

Personal Leadership & Development:

• Manage self by showing drive and motivation, an ability to self-reflect and a commitment to learning.
• Communicate effectively communicate clearly, actively listen to others, and respond with understanding and respect.
  • Commit to Customer Service: provide, customer-focused services in line with banking sector and organizational objectives – adherence to the bank customer service charter and ensure personal accountability so as to meet the laid down Service Level Agreements (SLA) and work within stipulated Turn Around Time (TAT).
• Work Collaboratively – Collaborate with others and value their contribution.
• Deliver Results Achieve results through the efficient use of resources and a commitment to quality outcomes.
• Think and solve problems, analyze and consider the broader context to develop practical.
• Keeping abreast with staff communications, attending staff meetings – morning huddles and weekly progress meetings.
• Responsible for own career within the bank and preparing an annual Personal Development Plan (PDP) and ensuring its actualization.
• Adherence to the banks policies and procedures, dress code, code of conduct, HR policies and procedures and follows laid down grievance and disciplinary procedure to ensure a conducive work environment.
• Closure of identified deficiencies from concluded audits, correction within stipulated timelines, and ensure no repeat findings.
• Live the brand values as a Sidian Bank brand ambassador and always project the right image of the bank to both staff and customers.

Risk & Compliance

• Comply with the Bank’s AML & CFT policy as defined in CBK Prudential guidelines
• Comply with risk control processes that are designed to eliminate or minimize AML-CFT risk exposure and potential losses
• Embrace system-based compliance practices in high-risk activities
• Ensure that the bank does not transact business with persons whose names match those on the sanctions lists in the Finance day to day business.
• Immediately report any suspicious transactions or activities to the compliance function.

DECISION MAKING AUTHORITY

• Trading decisions
  • All trading positions/trades should be guided by banks policies with aim of generating income in line with approved policies & procedures while considering; cashflow, liquidity position of the bank product type, deal size, dealer limit, stop loss, counterparty, available opportunity etc.
  • Pricing of treasury products are based on market interbank rates, current FX position and nature of client while working together with sales team to grow FX our volumes, both local and international market rates, current interest rates and return on investment.

  Funding & investment decisions

  • Mainly guided by Banks policy & procedures, depending on our cash flow requirement, investment returns, funding costs, counterparty etc.

  Risk management decisions

  • While trading, I take decisions guided by Bank and CBK requirements ensuring that the bank is not exposed and avoiding losses beyond the stop loss/penalties.
  • These decisions are taken guided by banks policies and CBK requirements.
  • Where necessary, sometimes the decisions are made in collaboration with the ALCO and in consultation with the Head of Treasury.

ACADEMIC BACKGROUND

• Bachelor’s degree in a Business-related field;
• Master’s degree is an added advantage.

WORK EXPERIENCE

• Hands on banking experience for a period of not less 6 years, with at least a minimum of 3 years in direct money market, Fixed income, FX trading and treasury operations

SKILLS & COMPETENCIES

• Good working experience in a dealing room/ Treasury front office functions. Money markets, Foreign Exchange Interbank Trading & Co-operate sales;
• Experience in using Treasury Electronic dealing systems: Thomson Reuters EIKON/ FXT and Bloomberg;
• Good working relationship with Electronic FX Brokers;
• Experience in handling KEPPS system and working environment;
• Comprehensive understanding of forex business market both interbank, SME & co-operate sectors;
• Good understanding of local and global market regulations applicable to foreign exchange;
• A good understanding of micro and macroeconomics to interpret likely interest rate trends both locally and on the international markets;
• Knowledge of local and international market events and their likely impact on interest rates;
• Clear understanding of the Bank’s vision, mission, corporate objectives and strategy
• Networking with Central Bank and other interbank players.

PROFESSIONAL CERTIFICATION

• Diploma in Banking – AKIB (added advantage)