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NIC Bank, whose full name is National Industrial Credit Bank, is a commercial bank in Kenya, the largest economy in the East African Community.
Head of Trading & Corporate sales
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.
- 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):
Bachelors degree in Economics or Business related field
ACI dealing Certificate
- 3 years progressive experience in a busy Treasury environment.
- Thorough understanding of the local and international financial services industry.
- General banking experience.
- 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.
- 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.
- Across the organisation at all levels.
- Director of Treasury, Chief Dealer and Head of Trading for any delegated duties
- 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.
Method of Application
Interested and qualified candidates should send their applications and updated CV to email@example.com, clearly indicating the role applied for on the subject bar not later than 17th August 2018.