BASIC PURPOSE:

To ensure prudential and statutory mandated management of the Banks' Foreign exchange rate risk.

MAIN DUTIES & RESPONSIBILITIES

• Proprietary trading in foreign currencies within the given parameters.
• Drive Market making in USDUGX and other currencies where applicable.
• To maintain exchange positions for the bank within the given parameters and ensure profitability for the bank.
• Covering of open positions through the interbank market.
• Product development in order to hedge against exposure created by customer transactions i.e spot, forward and swaps.
• Keep track of exchange rate movements in local and international markets while managing the bank's position in accordance with the market trends.
• Servicing currency requirements for Equity bank clients and ensuring maximum returns from these relationships.
• Maintaining contact with key players in the industry and gathering information that is likely to affect financial markets.
• Provide competitive quotes to the FX sales team in order to cover client flows.
• Liaise with other subsidiaries on maximization of group trading and derivatives income.
• Effective and timely reports to ALCO on foreign exchange trends and forecasts.
• Remain in close contact with brokers/counterparty dealers in order to establish price discovery.
• Liaise with the FX sales desk for opportunities around hedging through derivative instruments
• Constant and effective monitoring of the banks foreign currency exposure to ensure internal and BOU policy limits are adhered to.
• Accuracy of records, appropriate application of products and correctness of P&L position.
• Positions and profit reconciliations in liaison with back office departments.
• Timely follow up on all reconciliation items.
• Timely renewal of counterparty Limits.
• Liaise with Refinitiv & Bloomberg and other service providers to ensure smooth operation of dealing resources.
• Ensure that the operational side of FX trading is correct and timely, and where necessary settling and recording of trading activity is done seamlessly

QUALIFICATIONS, SKILLS AND EXPERIENCE

QUALIFICATIONS

• Bachelor's degree in Economics or business related field.
• Professional Qualifications: ACI dealing Certificate is a must have

SKILLS

• Thorough understanding of the local and international financial services industry.
• General banking experience
• Financial analysis Skills: Ability to analyze market information and provide structured solutions.
• Analytical business and appraisal Skills: Able to provide advice and cause/effect evaluation to support business decision making.
• Technology Skills: High level of computer literacy.
• Industry knowledge: Knowledge of foreign exchange markets and trends of major currencies.
• Goal driven and results oriented: Enjoys being measured, and judged by financial and other performance targets.
• Personal Ethics: Has a strong service ethic and demonstrates integrity in work and business contacts.
• Communication Skills: strong evaluation, communication and reporting skills.
• Interpersonal Skills: Builds relationships and networks easily with ability to interact with key contacts in the finance sector.
• Work balance: Ability to balance opposing business requirements as well as long and short term requirements independently.

EXPERIENCE

• 5 years progressive experience in a Treasury environment/field.

• Proprietary trading in foreign currencies within the given parameters.
• Drive Market making in USDUGX and other currencies where applicable.
• To maintain exchange positions for the bank within the given parameters and ensure profitability for the bank.
• Covering of open positions through the interbank market.
• Product development in order to hedge against exposure created by customer transactions i.e spot, forward and swaps.
• Keep track of exchange rate movements in local and international markets while managing the bank's position in accordance with the market trends.
• Servicing currency requirements for Equity bank clients and ensuring maximum returns from these relationships.
• Maintaining contact with key players in the industry and gathering information that is likely to affect financial markets.
• Provide competitive quotes to the FX sales team in order to cover client flows.
• Liaise with other subsidiaries on maximization of group trading and derivatives income.
• Effective and timely reports to ALCO on foreign exchange trends and forecasts.
• Remain in close contact with brokers/counterparty dealers in order to establish price discovery.
• Liaise with the FX sales desk for opportunities around hedging through derivative instruments
• Constant and effective monitoring of the banks foreign currency exposure to ensure internal and BOU policy limits are adhered to.
• Accuracy of records, appropriate application of products and correctness of P&L position.
• Positions and profit reconciliations in liaison with back office departments.
• Timely follow up on all reconciliation items.
• Timely renewal of counterparty Limits.
• Liaise with Refinitiv & Bloomberg and other service providers to ensure smooth operation of dealing resources.
• Ensure that the operational side of FX trading is correct and timely, and where necessary settling and recording of trading activity is done seamlessly

• Thorough understanding of the local and international financial services industry.
• General banking experience
• Financial analysis Skills: Ability to analyze market information and provide structured solutions.
• Analytical business and appraisal Skills: Able to provide advice and cause/effect evaluation to support business decision making.
• Technology Skills: High level of computer literacy.
• Industry knowledge: Knowledge of foreign exchange markets and trends of major currencies.
• Goal driven and results oriented: Enjoys being measured, and judged by financial and other performance targets.
• Personal Ethics: Has a strong service ethic and demonstrates integrity in work and business contacts.
• Communication Skills: strong evaluation, communication and reporting skills.
• Interpersonal Skills: Builds relationships and networks easily with ability to interact with key contacts in the finance sector.
• Work balance: Ability to balance opposing business requirements as well as long and short term requirements independently.

• Bachelor's degree in Economics or business related field.
• Professional Qualifications: ACI dealing Certificate is a must have