Derivatives Manager at Nairobi Securities Exchange

Overall Purpose

This position is responsible for business development as well as the management of risk as pertains to the Derivatives Market. The role holder must feel at ease generating revenue and working closely with various stakeholders to deliver products and solutions while also being comfortable pricing derivative products with a strong knowledge of market practices, risk measures and hedging practices.

Key Duties and Responsibilities

• Carry out risk and internal controls examinations and include reviews of the following areas:
  • Ensuring adequacy of resources and systems used for risk management and compensation or other incentives that may adversely impact independence;
  • Market risk in exchange trading, clearing and settlement activities and firm assets, including VAR (value at risk), economic models (margin
  • methodologies), scenario analyses, stress testing and daily back testing;
  • Funding, liquidity and operational risks, including counterparty credit risk, pricing models, valuation, guarantees, collateral, margin and settlement and
  • legal risks;
  • Utilize system infrastructure and control framework knowledge to recognize and challenge potential infrastructure efficiencies and control gaps and
  • proactively partner with own colleagues and other teams in the development of both infrastructure and control improvements and major enhancement
  • projects, including comparing and evaluating multiple courses of action and selecting and implementing the most appropriate resolution for the business; and
  • Ensuring that new products and activities are assimilated into the risk management system in a timely and appropriate manner
• Risk & Control Operations - supports the firm by ensuring the integrity of books and records, assessing regulatory requirements and interfacing with regulators frequently;
• Ensuring a well-documented system of internal controls designed to manage material risk exposures which will enable the Exchange management to identify, analyse and manage the risks inherent in the firm's business activities;
• Responsible for activities associated with enhancing existing derivative products and creation of new products;
• Implementation of solutions to support new product and client offerings;
• Coordination and communication with various internal and external stakeholders inclusive of direct client interaction;
• Driving sales, managing leads and generating revenues in line with set targets.
• Research, analysis and keeping abreast of other derivative exchange products, OTC derivatives, competitors and regulatory
• changes/ trends and assist in formulation and implementation of new policies and rules;
• Creation of educational and training material as well as conducting education and training sessions for all stakeholders;
• Performing any other duties as may be assigned from time to time.

Minimum Qualifications

• Bachelor’s degree in a business related or any other analytical and/or finance related discipline. A Master’s degree, or pursuing one will be an added advantage;
• Knowledge in derivatives and volatility models (Historical VaR, Stressed VaR, Liquidity Risk models etc.);
• High level of Proficiency in using advanced functions of Excel and using the same for model development;
• Working knowledge of varied risk management systems will be an added advantage;
• Professional qualifications such as CFA, CIFA, CPA, ACCA, ACI and membership to a relevant professional body; and
• Minimum four (4) years’ experience in capital market environments and/or:
  • Market risk management gained from an organization with a strong internal control framework, preferably financial institutions; or
  • Significant treasury trading, sales or operations roles at an investment/commercial bank