Director - Head of Markets Sales at Absa Bank Limited

Job Summary

Provide complex advice and support in the positioning of investments & sales operating models and frameworks in a broadly defined business functional strategy; enabling operating model, strategy and value chain formulation and alignment.

Job Purpose

This function reports into the Head of Markets post in country and is one of the three key functional positions within each Market.  It is a high-level management position requiring a focused and independent approach to achieving best practice criteria in the management of the function whilst maintaining a balanced interaction with the other two key areas of Markets.  The incumbent is expected to operate with business flair and actively contribute towards the overall business strategy of Markets.  The function is implicitly aligned with the corporate bank but also carries responsibility for retail Market sales activities either directly or through internal interface customers.

• Management and development of the Market Sales function.
• Co-ordinate with other countries and regionally Market sales activities.
• To become the preferred point of contact both externally and internally for Markets sales activities.
• To become the bridge between the interests of the corporate, merchant, and commercial bank and the marketplace for Markets products, strategies and structured solutions.
• Providing input and guidance to the rest of the Markets executive team.
• Exploring and defining the business opportunities in the Market sales function

Key Accountabilities:

Strategy development and execution: Time split 30%

• Drives and formulates strategy and delivery through formal qualitative and quantitative analytics, problem framing, value chain assessments and market opportunity identification.
• Support Head of Markets in the delivery of aligned business strategy that takes account of financial performance, Function health [5Cs], balance sheet & risk management and attainment of required goals and objectives.
• Advise the Head of Markets on on-going issues and programmes to address these in the business unit and set up a process for monitoring
• Continuously monitor the overall Business Performance (Finance, Risk, Compliance, Change, HR) of the business unit and advise the Head of Market of any possible deviations and the actions that have been created by the business units to address these
• Conduct ongoing assessments of market and competitive landscape e.g. mergers, top competitors, identification of clear water/white space opportunities and seizing them to determine suitability for the business to venture in.
• Continuously monitor the potential impact of new tactical plans on the reputation risk of the department and the Bank and advise Head of Markets on appropriate action to take to minimise the risk
• Responsible for Strategic Planning and Financial Analysis of  Market Sales Projects
• Develop and drive key strategic activities in the Head of Market’s office ensuring overall fit with business strategy in context of overall Africa Markets strategy.
• Deliver insightful recommendations in a persuasive and thoughtful manner.
• Support Head of Markets to achieve Customer service standards/experience and building Absa Market profile/reputation within the country and sub-region whilst maintaining strong business relationships in and outside Absa.

Research and Market intelligence - Time split : 20%

• Compile an annual Market Sales Business plan and ensure that regular monthly feedback on performance is available.
• Work with MI team on market intelligence gathering tools or forums to ensure that at any one time we have information on technology changes, mergers and acquisition, business capabilities of various competitor banks and any other human intelligence that will aid strategy formulation and implementation.
• Carry out research and analysis on a stand-alone basis or as part of other product or functional teams to provide intelligent information for decision making.
• Be a key source for industry intelligence data across various disciplines including industry evolution analysis and competitive dynamics.
• Ability to take business analytics data and drive this to a logical and relevant conclusion e.g. business proposition with minimal supervision.
• Work with the various strategy work-streams of the bank, especially in relation to the Markets business, to measure and improve strategic initiatives as well as make same available to the direct reports of the Head of Markets.

Sales and Distribution  - Time split: 30%

• Trading with customers directly as required;
• Develop close contacts with both the corporate bank relationship managers and customers;
• Promote the expansion and penetration of Markets business into customers and expand the customer base;
• Meet the various volume profitability targets as set;
• Develop close contact with interbank counterparties and originate dated structured transactions and RMPs
• Promote the expansion and penetration of CIB Markets products into Institutional, Public sector customers and expand the customer base
• Meet the various client numbers, product volume and profitability targets
• Ensure compliance with all group, credit, etc. policies
• Play a leading, visible role in the development of the Ghanaian market.
• Business development. Work to establish new client relationships, grow business on existing lines and introduce new products
• Chief structurer. Originate big ticket transactions and successfully close them
• Ensure Absa leads the market in Fixed Income distribution
• Anticipate market developments and identify client needs and trade opportunities with risk-adjusted superior returns

Risk Management - Time split: 5%

• Drive the annual planning and review of the desk’s STP, RAF and MTP budgets
• Ensure sales and products distributed leave no Traded Market risk in client portfolios
• Ensure new product approval governance and related policies are strictly adhered to
• Meet all periodic reporting requirements
• Maintain constant contact with key stakeholders (Trading, Larger Sales Team, PCG, MR) to ensure income is appropriately realised, accrued and risk is managed

Operational Rigour Practice   - Time Split: 5%

• Ensure that Group and BARAF policies and procedures and relevant credit limits are adhered to at all times.
• Achieve operational rigour and excellence in all aspects of procedures and processes undertaken to ensure 100% compliance.
• Minimize potential for fraudulent applications by following each product criteria.
• Ensure compliance with operations risk & rigour requirements e.g. Health & Safety standards and security of premises.

Leadership - Time split: 10%

• Design appropriate structures to deliver the desired results and acquire and retain the right talent.
• Influence and maintain an engaging and high performing Markets culture that is conducive to attracting, motivating, and retaining a diverse group of talented employees at all levels.
• In partnership with relevant matrix stakeholders manage the performance, recruitment, remuneration, development, mobility, succession, and career development of the team.
• Creating a motivating environment for Markets talent across the region. To both attract and retain the best.
• Drive the develop and growth of all direct reports.  Provide guidance and steer on all aspect of team and business leadership as well as local stakeholder management. Consistently coach and engage the team directly and through identified training interventions to support their leadership development as well as effective and optimal leadership of their respective teams. 
• Set Objectives and actively manage performance and own annual reviews for all direct reports
• Drive the digital agenda embedding the active use of data analytics and insights to inform business decisions and execution 
• Monitor and review trader and sales team performance and approves activities concerned with the execution of trading and sales strategies.

Education and Experience Required

• Post-graduate degree in Commerce or Finance.
• ACI Dealing Certificate
• Minimum of 10 years of Financial/Capital Markets experience in Sales and Trading within a large multinational bank and 3-5 years of experience in a similar role
• Strong commercial acumen.
• Extensive understanding of the local and global economy including:
• Economic policies and practices
• Regulatory landscape including Central Bank policies
• Key commercial sectors and critical success factors for these sectors
• Understanding of interest rate, foreign exchange, credit risk
• Understanding of the policies, ethical issues of Sales and Trading
• Knowledge of Markets products and back-office operations
• Understanding of political and economic activity worldwide
• Demonstrable knowledge of Global Markets products and experience covering clients at a Senior Level.
• Extensive regulatory, risk and financial management experience.
• A track-record of leading large high performing teams

Competencies/Skills

• Business Awareness
• Strong ability to manage relationships
• Ability to work in a dealing room environment
• Innovative and ability to use own initiative and take decisions with authority and confidence
• Have a high ethical,  moral code and behave professionally at all times
• Show effective marketing and influencing skills
• Be a first-class communicator.
• A high level of self-direction is expected at this level
• A total commitment to sales and customer orientation
• Frequent need to work outside of normal working hours
• Assisting in the management of customer bank relationships across different business lines.            

Knowledge and Expertise

• Effective trading ability and good track record
• Experience in Market Sales
• Sound understanding of bank balance sheet and income statement analysis
• An effective leadership style with passion and commitment
• An understanding of financial risk management strategies and tools
• A good in-depth knowledge of Market products, services and strategies and back-office operations
• A good general knowledge of other bank products in particular trade and structured trade finance, merchant banking products and structures (including project and structured finance, and tax driven structures)
• A full understanding of the policies, processes and ethical issues surrounding Markets business.
• A sound understanding of the workings of the corporate retail and merchant banking operations
• A willingness and ability to pro-actively manage customer relationships through on-site visits, presentations, and social gathering.
• A working knowledge of capital markets products.