Manager at Co-operative Bank of Kenya

Job description

Requirements

• Bachelor's Degree in Finance, Accounting or other business related field preferred.
• Professional Qualification – ACI accreditation or Risk Management certification, CPA, ACCA,CISA, CFA qualification is desirable.
• Overall exposure in the financial services sector and preferably 7 years’ experience in the Banking Sector with a minimum of 4 years’ experience in Treasury Middle Office.
• Excellent understanding of Treasury Operations, Risk Management Knowledge, analytical with a general knowledge of the Banks’ Treasury Products, pricing& experienced in Treasury Finance.
• Excellent analytical and numerical skills twinned with an active and avid interest in finance & trading.
• Good understanding of the CBK and Banking acts/prudential guidelines and their implications on the organization as well as Knowledge of the banks KYC, AML, Risk Management and Compliance policies.
• Good Communication skills both written and oral with the ability to maintain detailed and accurate record of transactions and handle complex information with accuracy and attention to detail.
• Strong leadership, organizational, Strong problem solving skills and an ability to demonstrate sound judgment to execute solutions.
• Manager - Middle Office
• Are you a highly motivated professional with genuine interest in finance and treasury functions and looking for an opportunity to build a career in a fast-paced environment? This position at Co-operative Bank presents you with the opportunity to grow and develop an exciting career that will allow you to utilize your knowledge of the treasury functions, the financial sector, banking services and capital markets to make valuable contributions within Finance.
• The successful candidate will be an experienced Middle Office professional with strong expertise in controls, procedures and reporting, as well as a full knowledge of Treasury/FX products.
• Reporting to Director Finance, the role holder is the overall Manager of the Middle Office Function and is required to oversee and ensure integrity of Treasuries’ business risk controls, P&L monitoring, reconciliation and reporting, positions keeping, KPI/ KRI reporting, whilst ensuring compliance with accounting standards, prudential requirements and the bank’s policies.

The Role

Specifically, the successful jobholder will be required to:

• Ensure Compliance with International Accounting Standards and International Financial Reporting Standards as well as define key risk indicators and alert senior management of any potential operational risk issues or unusual events in Middle Office activities.
• Oversee the Foreign Exchange, Fixed Income and ALM P/L Flash, P/L commentary explaining Key drivers and response to ad-hoc/New Product reporting requests.
• Supervise Open Positions reconciliation across all asset classes, ensuring that The Front Office managed Positions reconcile to those settled in the ledger. Ensure adequate Review of Trades with Significant P/L and ensure adequate commentary and Documentation is in Place.
• Oversee the adequate Reconciliation of the Treasury Transaction Processing system to the General Ledger for P/L and M-T-M Accounts, as well as substantiation of M-T-M Balance Sheet back to deal level detail.
• Oversee the exception Based Monitoring of Cancel and Amends and Off Market Rate deals as well as Trades with Negative spread across all asset classes and correct valuation of Treasury Balance Sheet across all asset classes and Supervise Regulatory returns to the Central Bank as Required.
• Work with The Back office and Market Risk to ensure accuracy of End of Day Rates used to revalue Open Positions. Maintain, monitor and report individual Dealer, counterparty and open market limits utilization and violations. Highlighting and escalating of off-market transactions or cancelled and amended deals.
• Supervise in liaison with the Front Office to obtain dealer estimates for all product lines and to resolve exceptions between estimate and Flash P/L satisfactorily before distribution.
• Effectively support and supervise the risk profile of Dealers’ positions, in line with internal and external risk management and regulatory imperatives as well as Mitigate settlement risks by checking and verifying deal tickets details and highlighting any discrepancies.
• Supervising accurate and timely preparation of the daily product, dealer and transaction Profit and Loss Reports including analytical review, commentary and reporting the same on daily basis.

Skills, Competencies and Experience

• Bachelor's Degree in Finance, Accounting or other business related field preferred.
• Professional Qualification – ACI accreditation or Risk Management certification, CPA, ACCA,CISA, CFA qualification is desirable.
• Overall exposure in the financial services sector and preferably 7 years’ experience in the Banking Sector with a minimum of 4 years’ experience in Treasury Middle Office.
• Excellent understanding of Treasury Operations, Risk Management Knowledge, analytical with a general knowledge of the Banks’ Treasury Products, pricing& experienced in Treasury Finance.
• Excellent analytical and numerical skills twinned with an active and avid interest in finance & trading.
• Good understanding of the CBK and Banking acts/prudential guidelines and their implications on the organization as well as Knowledge of the banks KYC, AML, Risk Management and Compliance policies.
• Good Communication skills both written and oral with the ability to maintain detailed and accurate record of transactions and handle complex information with accuracy and attention to detail.
• Strong leadership, organizational, Strong problem solving skills and an ability to demonstrate sound judgment to execute solutions.

Competencies

• Leads from the front
• Delivers and owns results
• Values and respects others
• Drives innovation
• Fosters Communication
• Inspires trust and integrity
• Customer Centric