Head Global Markets at Bidvest Bank

About the position

To trade the Bank's positions, engage in deal execution, and to assist in managing the bank's liquidity risk, currency price risk and interest rate risk within mandated limits.

Responsibilities:

FINANCE
Management of costs and budgets

• Provide input into overall budgets and business plans for Trade Services, Foreign exchange and, Financial trading budget
• Manage and control efficiencies to alleviate losses
• Monitor and manage operational costs monthly
• Directly responsible for the assigned budget (budget in billions)
• Directly responsible for the assigned budget (budget in billions)

Revenue Generation

• Trade profitably for the bank
• Profit generation through the efficient management of currency risks
• Efficient addition of margins to ensure adequate profit
• Position the bank in such a manner to ensure maximum profitability
• Ensure pricing is correct

Cost saving and revenue initiatives

• Pursue potential cost saving/ revenue enhancement initiatives for the Bank where applicable

CUSTOMER SERVICE
Customer service and daily operations

• Provide expert advice and input to other departments and units regarding the treasury office operations and processes and procedures involved:
• Address high level client issues and queries
• Handle escalated client queries
• Assist and advise Executives (MANCO and EXCO) with feasibility of new initiatives that may impact or be influenced by investments, currencies and markets
• Managing the pricing to the retail branches
• Responsible for Bidvest's foreign exchange and commodity training operations
• Consistently monitor and analyse market and economic indicators and predict impact on investment funding/trades
• Develop consolidated reporting of interest rate risk, document key assumptions and review with senior management on an on-going basis
• Define and ensure adherence to Operating procedures as per strategic and operational plans

Service Excellence

• Manage the day to day operations with due cognizance of:
• Levels & quality of service delivery as experience by internal & external stakeholders
• Responsiveness: speed of responses, reaction time, going the extra mile, turnaround time
• Degree of customer satisfaction from customers
• Output results from "client servicing" activities. Includes value of advice to customer &/or stakeholders
• Management of the daily cashflow
• Conduct presentations to create awareness of processes and procedures involved in unit.
• Daily control of funding and liquidity metrics
• Place appropriate trades
• Review of funding plans and contingency and recovery plans
• Serve on all external regulatory committees as Ambassador for Bank
• Daily Liaison with all relevant stakeholder, advise on trades, risks, mitigation requirements and trades placed
• Ensure policies are adhered to and reviewed when market or regulatory changes occur
• Communicate possible changes to all departments and advise Executives to facilitate decision making.

PEOPLE MANAGEMENT

• Monitoring and managing the operational deliverables, output and performance of subordinates within the team.
• Develops talent by facilitating cross training, developing, coaching, mentoring & growing individuals & teams in the Business Units. Encourages career advancement endeavours.

• Following up on disciplinary procedures and any other matters relating to subordinates behaviour and activities, staff issues and personal matters.

• Demonstrate support of learning by ensuring that effective training & development practices exist in the BU & that continuous learning is fostered.

• Accountable for providing an environment in which employees can apply what they have [URL Removed] & reinforce the application of newly acquired skills.

• Rewards the application of newly acquired skills & knowledge.
• Fosters a climate of continuous learning.
• Encourage employees to take personal ownership of their professional development.
• Ensure skilled coaching and mentoring, and keep employees on a development continuum.
• Ensure training is a part of employees' daily routine & encourages them to tap into the knowledge of their colleagues & to set performance improvement goals.
• Manage day to day staffing requirements, issues and performance.
• Conduct performance appraisals and compile personal development plans for [URL Removed] succession plans.
• Provide support to sales departments nationally.

OPERATIONAL EXCELLENCE
Audits

• Ensure that there are no high risk findings for the unit and its processes and risks are mitigated
• Assist internal or external audit where required
• Implement audit recommendations (if any)
• Action monthly reconciliations as required.

Investments and trades

• Handle all operation procedures relating to Trades, investments.
• Maximize Profit and Minimize risk within acceptability through; Market Making, Positioning and Trading within approved limits and policies and procedures.
• Build and maintain key relationships by meeting with other main role-players in Industry.
• Responsible for commodity and indices products across the markets.
• Produce the budgeted returns.
• Maintain close relationships with other firms in order to support business in this area.
• Keep up-to-date with interest rate movements and currency fluctuations internationally through daily studying of country and international economic indicators, etc.
• Responsible for FX products across the spot and forward markets.
• Provide prices to corporate dealers, upon request, and meet with customers when requested.
• Maintain deal record and P&L on a daily basis.
• Update relevant systems and ensure hedging takes place where risks are identified.
• Daily management of the Bank's Net Open Position (NOP) within regulatory and internal limits.

Risk Management

• Establish and Maintain a liquidity risk management framework and controls for the bank within statutory and regulatory requirements
• Develop and implement methods and models used to manage liquidity (e.g. cash flow projections computations and the like):
• The contingent Liquidity Plan; and
• Liquidity Stress Tests
• Comply with internal and external regulatory requirements
• Help establish and monitor of the risk control framework for interest rate risk in the banking book

Reporting

• Oversee the Reporting function within predetermined deadlines and Regulations.
• Reporting monthly turnover, MANCO, EXCO Transaction reporting and trend analysis.
• Stats, time management, Capacity versus volume versus output and quality.
• Reporting of micro- and macro-economic information, hedging P&L and other relevant information and reporting to the Bank's Asset and Liability Committee (ALCO).

Process management

• Raise & discuss any issues regarding system / process weaknesses as identified for internal systems & controls to be implemented.
• Communication to ensure the required departments apply the correct procedures identified.
• Improve processes, turnaround times and controls within Treasury within sphere or responsibility.

System Development

• Provide input into new systems based on experience in Bank and Bank's Systerms and IT knowledge
• Intellectual property
• Building new systems
• Developing new products for Bank
• Implementation of controls to mitigate process weaknesses

LEARNING AND GROWTH
Training

• Keeping abreast of own Development and ensure exposure is gained based on development areas.
• Provide training & development staff in unit.
• Maintain skill set by undertaking relevant training throughout year.
• Provide environment where employees can apply what they have learned.
• Develop training and encourage career advancement.

REQUIREMENTS:

Qualifications

• B Com or equivalent Degree in Accounting or Economics
• Post Graduate Degree
• ACI Dealing Certificate

Experience

• 5 years' previous dealing experience and
• 2 years' management experience the entire function
• Thorough understanding of experience in doing large Trades and managing the risk associated with Operations in the Bank
• 5 years' in similar role Industry and Role and 2 years' managing the entire function within same budget

Desired Skills:

• Costs and Budgets
• Trading
• Foreign Exchange

Desired Work Experience:

• 5 to 10 years

Desired Qualification Level:

• Degree

About The Employer:

Knowledge, Skills and Abilities Required




- Expert Knowledge and experience in liquidity and interest rate risk management at a large financial institution
- Expert Knowledge of and experience with Bank regulations for liquidity, capital and interest rate risk management
- Expert in Local and International Banking Industry regulations
- Expert knowledge of balance sheet analytics
- Financial acumen
- Sound and independent judgment. Ability to balance
- Internal Policies and Procedures
- Ability to operate effectively under pressure
- Proficient in all relevant Banking systems
- Ability to make a difference and lasting impac