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Job Summary

To be responsible for executing the Trading book mandate as delegated by the Head of Trading ensuring:

• The generation of trading income from trading in Foreign Exchange as is permitted under the dealer mandate, with the objective of achieving income and business unit growth objectives.
• Making market to the Foreign Exchange markets, as appropriate.
• The provision of pricing to sales dealers in order to facilitate client business.
• Ensuring 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).

Job Description

FX TRADING

• Developing and executing trading strategies in line with the Markets strategy and the overall Absa Africa trading strategy, within ones dealer mandat
• 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
• Focusing on revenue, business development, relationships with counterparties and the regulator, and growing the trading franchise
• Working closely with the Africa trading desk and Africa Sales to support the roll out of Risk Management Products (RMP’s)
• Taking into account the cost of funding in all trading decisions
• Keeping up to date with market intelligence and market movements and regularly updating the Head of Markets , the sales team, and the broader Global Markets team
• Establishing Excellent working relationships with bank counterparties and the regulator (as appropriate)
• Generating a daily flash P&L by the cut-off time as advised by Absa Africa Regional Markets.
• Giving Input to the Head of Trading in respect of the annual planning and review of trading budgets.

RISK MANAGEMENT

• Giving input to the Head of Trading in respect of the annual planning and review of trading STP, RAF and MTP budgets
• Giving input on the Trading desk Strategy
• Ensuring that one trades within one’s mandate, stipulated processes, limits and controls.

PERSONAL DEVELOPMENT

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

Technical Experience and Capability

• Bachelor’s Degree in Mathematics, Finance, Economics, Accounting or any Finance Related Qualifications
• ACI Dealing Certificate
• 3-5 years’ experience related experience
• Market Making experience
• Trading experience
• In-depth trading knowledge / experience of local market Rates and FX products
• Good working relationships with Market Stakeholders and Regulators.

KNOWLEDGE AND SKILLS REQUIRED

• Understanding of the policies, procedures and ethical requirements of Global Markets and Trading environment

Performance Imperatives:

• Delivering results;
• Being aware of market trends
• Achieving high standards & best practise;
• Understanding of the Global Markets Business Model
• Good Financial and analytical skills;
• Understanding of Markets operational processes and controls
• Excel competency and ability to adapt to various systems and platforms

Preferred

• Market Making Experience
• Understanding of the dynamics of FX Trading
• Understanding of Markets and Macro economic environment that impacts exchange rates and interest rates
• In-depth trading knowledge / experience of local market Rates and FX products
• Good working relationships with Market Stakeholders and Regulators

Key Success Measures / Key Performance Indicators

• Achievement of FX Trading Revenue Targets
• Supporting Sales team with client pricing , Market intelligence and driving of Risk Management Products.
• Leveraging on the Hub and Spoke model with the SA FX team to drive volumes and revenue

Essential Training Required & Specific to the Role

• ACI Dealing Certificate
• Anti-Money Laundering
• Sanctions
• Performance Development
• Absa Values
• Sales skills and techniques
• Absa prescribed training
• Risk management training (market / credit / operational risk)

Risk, Governance and Regulatory

“Ensure that all activities and duties are carried out in full compliance with regulatory requirements, Enterprise-Wide Risk Management Framework and internal Absa Policies and Policy Standards. Understand and manage risks and risk events (incidents) relevant to the role.”

• The generation of trading income from trading in Foreign Exchange as is permitted under the dealer mandate, with the objective of achieving income and business unit growth objectives.
• Making market to the Foreign Exchange markets, as appropriate.
• The provision of pricing to sales dealers in order to facilitate client business.
• Ensuring 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).
• Developing and executing trading strategies in line with the Markets strategy and the overall Absa Africa trading strategy, within ones dealer mandat
• 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
• Focusing on revenue, business development, relationships with counterparties and the regulator, and growing the trading franchise
• Working closely with the Africa trading desk and Africa Sales to support the roll out of Risk Management Products (RMP’s)
• Taking into account the cost of funding in all trading decisions
• Keeping up to date with market intelligence and market movements and regularly updating the Head of Markets , the sales team, and the broader Global Markets team
• Establishing Excellent working relationships with bank counterparties and the regulator (as appropriate)
• Generating a daily flash P&L by the cut-off time as advised by Absa Africa Regional Markets.
• Giving Input to the Head of Trading in respect of the annual planning and review of trading budgets.
• Giving input to the Head of Trading in respect of the annual planning and review of trading STP, RAF and MTP budgets
• Giving input on the Trading desk Strategy
• Ensuring that one trades within one’s mandate, stipulated processes, limits and controls.
• Actively managing one’s own technical and soft skills developmen
• Researching, identifying and proposing training solutions to senior management for one’s own development
• Achievement of FX Trading Revenue Targets
• Supporting Sales team with client pricing , Market intelligence and driving of Risk Management Products.
• Leveraging on the Hub and Spoke model with the SA FX team to drive volumes and revenue
• Ensure that all activities and duties are carried out in full compliance with regulatory requirements, Enterprise-Wide Risk Management Framework and internal Absa Policies and Policy Standards. Understand and manage risks and risk events (incidents) relevant to the role.

• Understanding of the policies, procedures and ethical requirements of Global Markets and Trading environment
• Delivering results;
• Being aware of market trends
• Achieving high standards & best practise;
• Understanding of the Global Markets Business Model
• Good Financial and analytical skills;
• Understanding of Markets operational processes and controls
• Excel competency and ability to adapt to various systems and platforms
• Market Making Experience
• Understanding of the dynamics of FX Trading
• Understanding of Markets and Macro economic environment that impacts exchange rates and interest rates
• In-depth trading knowledge / experience of local market Rates and FX products
• Good working relationships with Market Stakeholders and Regulators.
• Sales skills and techniques

• Bachelor’s Degree in Mathematics, Finance, Economics, Accounting or any Finance Related Qualifications
• ACI Dealing Certificate
• Good working relationships with Market Stakeholders and Regulators.