Market Risk Manager at Co-operative Bank

Are you looking for an employer who promotes individual excellence and mutual respect in a team-driven culture with a key focus on social empowerment? The Co-operative Bank of Kenya, “The Kingdom Bank” is the place for those looking to new horizons.

We are looking to place a versatile, dynamic and self –driven professional with a keen interest in Risk Management.

Reporting to the Chief Risk Officer (CRO), the Market Risk Manager will be responsible for identification, measurement, mitigation and reporting of market risk exposures within the Bank’s Trading and Banking books.

He/she will oversee the various risk classes including among others: – general market risk, interest rate risk affecting both the Banking and Trading books, Foreign Exchange rate risk, Liquidity risk and Contingency planning, Commodity Price Risk, Derivatives risk and general Investment risk coupled with provision of support to the ALCO processes.

Responsibilities

• Coordinate the preparation of the pertinent market and derivatives risk monitoring reports leveraging information sourced from Treasury, Foreign & Treasury Services (FTS), Finance, Corporate and Retail departments. Analyze these reports with the Senior Risk Manager and the CRO and compile the pack dispatching to the ALCO members for their review before the meetings.
• Daily monitoring of Co-op Bank Kenya and South Sudan Market Risk, Derivatives Risk and Liquidity Risk transaction performance metrics/ ratios against set limits. The process involve giving recommendations in the form of possible scenarios to effectively manage market risk and alignment of liquidity back to normal in the event of breaches or anticipated breaches.
• Obtain exceptional approvals on potential breaches from Treasury and report limit breaches in accordance with the defined escalation hierarchies.
• Prepare the Market Risk, Derivatives and Liquidity Risk report portion of the Board Risk Committee report for the consumption by the Board of Directors on a quarterly basis.
• Analyze and prepare ALCO Reports on an ad hoc and at least on a monthly basis.
• Follow up on issues raised in ALCO with the relevant business units to ensure resolution and provision of feedback to the committee.
• Monitor Compliance of Co-op bank Units (both Kenya & South Sudan) with Market Risk, Liquidity Risk, Interest Rate Risk, Investment Risk and Derivatives Risk Policies and related regulatory policy limits.
• Review the daily FX MTM process and weekly Bonds MTM process and recording/ accounting of the same within the Bank’s Trading Book. The same MTM processes will be expected to be performed for hedging derivatives such as Swaps and Forwards.
• Provide general administrative duties such as representing the unit in cross-functional business meetings, provision of on the job training to colleagues, preparation of process flows etc.

Qualifications

• Bachelor’s degree in Actuarial or related business field. Possession of a relevant Risk Management Professional qualification (such as ACI/ FRM/ PRM/ CFA) or relevant postgraduate professional qualification such as an MBA coupled with Actuarial, CPA or ACCA will be an added advantage.
• A minimum of 5 years overall banking experience gained preferably in either – Risk Management, Treasury ,Treasury Back Office.
• An understanding of ISDA/ CSAs Arrangements, Mark to Market (MTN) valuation of Securities, Margining, and FX related transactions, Fixed Income Securities and Derivatives will be an added advantage.
• Thorough knowledge of CBK prudential guidelines.
• Ability to clearly communicate strategy, plans and risks across the organization by developing business cases, presentations & stakeholder communications even with senior management.
• Strong analytic, logical reasoning and problem solving skills.
• Ability to work well in a team, as well as manage multiple priorities in quick time frames.