• Job Vacancy at NIC Bank

  • Posted on: 9 August, 2018 Deadline: 17 August, 2018
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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.

    Trading & Corporate Dealer

     

    Responsible to

    Head of Trading & Corporate sales

    Closing Date

    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.

    MAIN ACCOUNTABILITIES

    ACCOUNTABILITY

    OUTPUT

    • 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):

    Academic Qualifications:

    Bachelors degree in Economics or Business related field

    Professional Qualifications:

    ACI dealing Certificate

    Work Experience:

    • 3 years progressive experience in a busy Treasury environment.
    • Thorough understanding of the local and international financial services industry.
    • General banking experience.

    Skills Required:

    Technical skills

    • 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.

    Personal attributes

    • 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.

    Working Relationships:

    Internal

    • Across the organisation at all levels.
    • Director of Treasury, Chief Dealer and Head of Trading for any delegated duties

    External

    • 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 hr_recruit@nicgroup.com, clearly indicating the role applied for on the subject bar not later than 17th August 2018.

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