Trading & Corporate Dealer at NIC Bank Kenya

Responsible to

Head of Trading & Corporate sales

Closing Date

17th August 2018

Purpose of the Position:

Treasury is the financial heartbeat of the Bank, and therefore, the function ensures prudential and statutory-mandated management of the Banks’ Foreign exchange and Interest Rate risks.

MAIN ACCOUNTABILITIES

ACCOUNTABILITY

OUTPUT

• Revenue Generation through Proprietary Trading
  • Proprietary trading in foreign currencies within the given parameters.
  • Drive Market making in USDKES and other currencies where applicable
  • To maintain exchange positions for the bank within the given parameters and ensure profitable covering of open merchant positions in the interbank markets.
  • Product development to hedge against exposure created by customer transactions e.g. spot, forward and swaps.
  • Keep track of exchange and interest rate movements in local and international markets while managing the bank’s position in accordance with the market trends.
  • Servicing currency requirements for NIC corporate 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 and cover client flows
  • Liaise with other subsidiaries on maximization of group trading income
  • Effective and timely reports to ALCO on foreign exchange trends and forecasts.
• Treasury Sales
  • Identifying, targeting and marketing new FX customers with aim of growing our FX revenues.
  • Managing the NIC corporate portfolio and ensuring maximum returns from these relationships.
  • Providing innovative solutions to existing and potential customers to increase the wallet size.
  • Preparation and circulation of daily treasury bulletins and dissemination of any other market information or research material that is beneficial to relevant parties.
  • Cross-sell the banks products by introducing new names to any of the other business sections.
• Operational management
  • Constant and effective monitoring of the banks foreign currency exposure to ensure internal and CBK 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 Interbank & Customer Limits.
  • Liaise with Reuters and other service providers to ensure smooth operation of dealing resources.

Direct Reports: _0_Staff

Job Specifications (Ideal):

Academic Qualifications:

Bachelors degree in Economics or Business related field

Professional Qualifications:

ACI dealing Certificate

Work Experience:

• 3 years progressive experience in a busy Treasury environment.
• Thorough understanding of the local and international financial services industry.
• General banking experience.

Skills Required:

Technical skills

• Financial analysis Skills: Ability to analyse market information and provide structured solutions.
• Analytical business and investment 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.

Personal attributes

• 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 finance sector.
• Work balance: Ability to balance opposing business requirements as well as long and short term requirements independently.

Working Relationships:

Internal

• Across the organisation at all levels.
• Director of Treasury, Chief Dealer and Head of Trading for any delegated duties

External

• Competitors/Other leading Institutions – Market intelligence. To keep up with any developments in the Banking industry.
• Regional and cross country- to ensure sharing of best practices across the organisation.
• Service Providers – for provision and service of the tools of our trade. (Reuters)
• Professional bodies. ACI –The Financial Markets Association of Kenya.