Senior FX Trader

Empowering Africa’S Tomorrow, Together…One Story At A Time.

With over 100 years of rich history and strongly positioned as a local bank with regional and international expertise, a career with our family offers the opportunity to be part of this exciting growth journey, to reset our future and shape our destiny as a proudly African group.

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Job Summary

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.

Job Description

Main Accountabilities

• 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.
• 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%
• Monitoring prices and price changes to identify trading opportunities
• Participating in meetings with clients to discuss trading strategies
• Analyzing market trends to forecast future prices
• Establishing long and short positions based on technical analysis, fundamental analysis, or other methods
• Conducting research to identify potential investment opportunities
• Participating in meetings with management to discuss performance, risks, and opportunities
• Interpreting regulations and laws relevant to trading activities in or der to make informed decisions
• Researching and analyzing financial products to recommend potential investments to clients.

Investment

• 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%

• 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%

• obtaining market prices from market-making traders and executing the trade.

Risk and Control Objective

• In the event of major issues in the business unit, act as crisis coordinator and allocate tasks to the crisis teams.
• Review the risk and compliance profiles of the business unit on a regular basis and provide consultative support to the Managing Director on changes that are required to rebalance risk and reward where required.
• Understanding of own role in the end-to-end processes in which you play a part, including applicable risks and controls.
• Adhere to Absa’s policies and procedures applicable to own role, demonstrating sound judgment and responsible risk management.
• Keep up to date on all regulatory changes and have the ability to articulate the impact to the Business, be well informed on the industry thinking.
• All mandatory training completed to deadline.

Personal Development

• Actively managing one’s own technical and soft skills development
• Researching, identifying, and proposing training solutions to management for one’s own development.

Formal Learning Required

Education Level:

• Graduate

Qualifications Required (Essential)

• Bachelor’s degree in Finance, Accounting, Economics, or related field.
• ACI Dealing Certificate
• CISI Certificate, Chartered Institute for Securities & Investment

Experience Required

Essential

• 5-10 years’ experience related experience.

Preferred

Knowledge and skill required

• 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

Experience Required:

• 5-10 Years banking ExperienceMarket Making experience
• Funding experience
• Management experience
• Global market Trading experience at least 5 years.
• 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 stakeholder

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.

Absa Values

Absa’s Values and Behaviors represent the set of standards which governs the actions of all of us who work for the bank and against which the performance of every one of us in Absa are being assessed and rewarded:

• Trust
• Resourceful
• Stewardship
• Inclusion
• Courage

Education

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