Head GM Trading at Standard Bank Group

JOB PURPOSE

To strategically lead the Global Market Trading team in-country by providing strategic direction and directing/developing new business opportunities in trading and also overseeing the monitoring and control off all business and risk functions within the trading team in-country. Responsibility for overall management of the credit, liquidity and interest rates trading function including positions, risk and profitability of the business. Responsible for the Trading budget of the team which is currently about 60 percent of the Global market budget. Overall responsibility of the Global Markets Trading activities which covers the following product areas: Foreign Exchange, Credit trading, and Interest rate trading.

KEY RESPONSIBILITES

Formulation, Management and Execution of Global Market Trading Strategy aligned to overall Global Market Strategy

• Providing leadership to the GM trading team in executing the trading strategy whilst focussing on the Global Market overall strategy with a view to adapting and maximising opportunities in the market.
• Representing and acting as back up to the Head of Global Market at various Regulatory forums, CIB management forums and bank wide management forum as appropriate (e.g. ALCO, ORCC and CIB Manco).
• Ensures a stable and compliant operating trading environment as evidenced by satisfactory audit and minimised operational losses.
• Trade and manage risk within agreed limits by demonstrating a clear, decisive and transparent trading philosophy.
• Bringing in new clients for the Bank taking into consideration both CIB’s and country GM’s broader strategy. Maintain meaningful contacts and industry networks, to ensure you remain relevant and informed of market developments.
• Position taking within pre-agreed risk limits.

Effective Trading Risk Management

• Risk management of repo trades, including marking positions accurately and full margin call process oversight with Collateral and Sales, This is despite the fact that revenues may potentially be recorded outside of Rates. Oversight of in-country repos also vests with Rates (accurate marking and liaising with Market and Credit Risk).
• Work closely with other desks (Sales, structured solutions, buy side) to steer the business in Country with the view to grow revenues; includes supervision of certain products.
• Liaise regularly with risk functions to explain the structured credit business and for specific trade approvals and responsibility for ensuring regulatory and internal compliance for the business.
• Monitor interest rate risk, banks liquidity, with a specific reference to trading books whilst closely interacting with ALM teams.
• Responsible for achieving significant utilisation of the set trading limits.
• Zero breach of internal risk controls and regulatory limits.

Lead Trading Functions

• Monitor interest rate risk with specific reference to the trading book
• Accountable for ensuring compliance of trading activities within trading limits and new product mandate across foreign exchange, money market and fixed income products.
• Build the trading business profile in-country as the number one trading business in the banking system through leading market development initiatives.

Effective Leadership, People and Talent Management

• Providing Strategic direction and management of the Global Market Trading team
• Guiding the career development of direct reports and talents
• Motivate and develop staff and encourage team work in building the country GM trading franchise.
• Deliver efficient execution of trading activities.
• Managing and maintaining appropriate talent pool in the trading business.
• Manage and contribute to Traders’ PDP in conjunction with the GM Head and Head of Africa Trading.
• Drive trader development through training and secondment.
• Establish and maintain strong relationships in a matrix organisation.
• Ensure traders’ contributions to all conference calls to ensure holistic understanding.

Compliance and Risk Management

• Ensuring adequate policies and procedures are in place to manage trading exposures.
• Adhering to all regulatory authorities’ regulation and prescriptions
• Reporting on all significant matters of risk and business priorities to the Head of Global Markets.
• Ensuring compliance with all group policies and procedures.
• Ensuring compliance with dealing room processes and procedures.

Understanding The Business Environment and Local Market Knowledge

• Deploy appropriate business and desk heads to manage specific trading activities.
• Demonstrate expert understanding of the global and domestic market developments, including economic and political issues which is expected to be applied in decision making.
• Up to date knowledge of all Global Markets Products traded in the local market.
• Effectively managing interactions between the Central Bank of Nigeria with regards to market risk.
• To maintain a good knowledge and understanding of industry trends and circumstances affecting the client base as well the trends and developments affecting Banks and how these will influence each other.
• In depth knowledge of dealing systems and functions.

Client interface and Sales (Deal Execution, Relationships, Client Margins)

• Ensure excellent service to customers via Sales units
• Business development and networking internally especially with regulators and other bank/funds
• Ensure co-ordination of the trading activities with matrix where appropriate
• Execute ALM requirements based on the liquidity position within the framework of ALCO policies
• Stakeholders feedback
• Evaluating and ensuring our market shares across various trading products.

Maintaining External Counterparty Relationships

• Maintain relationship with offshore banks and NBFIs and FIs. These are vital hedging counterparts for global Market products.

Solution Oriented through the identification of business gaps

• Identify business opportunities and gaps and build on expanding current products.
• Generate ideas and demonstrates innovative thinking in resolving unique challenges.

QUALIFICATIONS

• Undergraduate qualification minimum requirement: B.Sc, Business Finance, Engineering
• Post graduate qualification will be an added advantage
• Professional Qualification CA, CFA, CIMA, ACCA
• Minimum 7 years of professional experience in the foreign exchange and rates business, from originating to structuring and executing deals. Proven track record of generating revenues and building/managing teams. Strong analytical background is required.
• A good understanding of Macroeconomics and current economic trend.
• A good appreciation and knowledge of risk management, covering operational risk, market risk and credit risk.