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Job Summary
The role holder will report into the Country Head of Markets and will
manage a team of Markets trading team in meeting stretching
Quantitative and Qualitative targets set within the overall business
plan of the Markets. This is a key senior/medium management role as it
involves interaction with key internal and external relationships,
requires intimate knowledge of the market dynamics, in depth experience
in dealing with sophisticated products, good understanding of the
various businesses etc to be able to extract synergies and add value to
all the stakeholders.
It is a high/medium level management position which require a focused,
systematic, and independent approach while migrating the best in the
league market practises and product expertise based on experience and
from Absa Africa Group Limited, e.t.c., which will add value to existing
and potential internal and external clients.
The incumbent should possess excellent communication, interpersonal, analytical and team management skills.
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Job Description
Main accountabilities
Staff Management and Development
- Define targets and responsibilities of individual Markets trading dealers with the approval of the Country Head of Markets and manage and implement the performance contracts
- Attracting and retaining quality staff that possess agreed skill/experience/competency mix in consultation with Country Head of Markets.
- Embed an appropriate training plan for both Markets trading dealers and Corporate FI/NBFI coverage teams.
- Maintain and foster a focussed, top class work culture within the team.
- Ensure that staff pursues goals and training to maximise their potential.
- Identify and develop successor(s) planning at all levels in the management hierarchy and include cross training as part of a defined staff development plan.
- Implement a high-performance culture within the business.
- Ensure that PD reviews are conducted at the end of each quarter and feedback provided
- Business Planning Objectives
- Prepare and agree a Markets trading Business Plan with the Country Head of Markets and Corporate Director that encompasses and supports the Markets SBU vision.
- Acquire approval from the Heads of Product trading and ARO Head of Markets for the plan.
- Disseminate the objectives and strategies of the plan to the Markets and Corporate FI/NBFI team and ensure that they are embedded in the Performance Contracts.
- Put in place a mechanism to track performance on an ongoing basis, and conduct reviews monthly, provide feedback and implement a plan of action to address any gaps.
Markets trading and Marketing
- Managing the Markets trading team and keeping them focused and motivated in attaining the quantitative and qualitative targets put in place a Markets trading plan outlining objectives, key performance targets, client calling etc
- Develop close contacts with both the corporate bank relationship managers,
- Customers, regulators, and other key stakeholders.
- To focus on driving the trading desk initiatives and ensuring successful delivery of objectives, whilst guiding the team to meet their objectives.
- This includes overall responsibility and accountability for growth in the client base, distribution of new products and meeting income target
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Key actions to include:
- Taking responsibility for supporting the regional Head of Markets trading in achieving the sales objectives as per the job profile, to include sign off, the trading strategy, management of the trading client portfolio and implementation of broader Absa Africa hub& spoke distribution strategy.
- Working closely with the regional heads of sales in managing the local sales teams and head of sales in conjunction with the Regional Heads of Product trading, drive the bank’s cross sell agenda and ensure specific cross sell metrics are included in the PDs of the sales teams.
- Together with the Heads of Product and Regional Head of Trading ensure that markets and corporate work together to deliver a holistic Absa solution to clients.
- Developing and maintaining client relationships at a senior level with the top 20 bank/non-bank clients, top 15 MFIs and the top 5 fund /asset managers /brokers in the market.
- Ensuring a close working relationship with the Absa Africa Trading team to support sales and trading initiatives such as Risk Management Products (RMP’s), Repurchase Agreements (REPO), Structured Swaps and Fixed Income (FI) sales
- Supporting RMP’s through the country new product process
- Drive the Absa Access for FX and Front Arena agendas in country and any markets related project work
- Promote the expansion and penetration of Markets business into customers,
- Increase the portfolio of FI/NBFI clients, enhance profitability by selective introduction of new products, initiatives, structured solutions etc. which add value and will enable the Bank to differentiate itself from the competition.
- Meet the various volume, profitability and product targets set.
- Ensure that Group and ABSA policies and procedures and relevant credit limits are always adhered to.
- To put in place a training plan (formal and informal)
- Compile an annual Markets trading Business plan and ensure that regular monthly feedback on performance is available.
- Periodically hold client seminars and workshops.
- Keep close contact with the regulators and be at the forefront of influencing change and introduction of new products.
- Ensure that a regular and formal good quality Markets communication is sent out on a consistent basis which analysis markets etc (with appropriate disclaimers)
- Periodically benchmark Markets trading performance with competition.
Personal Attributes
- Knowledge of Product Management Principles and Practices (Intermediary/ Advanced)
- Knowledge of People Management principles and practices (Intermediary/ Advanced)
- Knowledge of Financial Management principles and practices (Advanced)
- Knowledge of Risk Management principles and practices (Advanced)
- Knowledge of Strategic Management principles and approaches (Intermediary)
- Leadership Skills (Intermediary/ Advanced)
- Analytical Skills (Advanced)
- Stakeholder Management Skills (Advanced)
- Communications Skills and fluency in English (Advanced)
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Business Development and Control
- Work to maintain an orderly and efficient marketplace within the country drawing on support from the central bank, local banks, and regulatory authorities.
- Investigate, develop, and promote new Markets products and services as required by Markets internal customers and external customers of the bank.
- Play a leading role in the development of new products
- Work closely with Absa Africa Markets and Group Markets in the promotion of new products and services.
- Adhere to all limits without exception.
- Effective management of Markets so that satisfactory audit outcomes are achieved.
- Proactively encourage and foster a trading culture within Markets embedding customer service and sales targets.
- Manage and monitor sales and profit targets based on customer flows.
- Encourage and support the development of a market making desk in local currency, interest rate and local currency/third currency foreign exchange products. Progress the development of a liquid inter-bank market in the domestic currency.
- Provide innovative product proposals and strategies backed up by high quality market analysis to internal and external customers, based on a sound understanding of market conditions, customer demand and agreed risk tolerances.
Executive Management Contribution
- Will represent Markets at all senior executive country forums.
- Will form close working relationships with country management.
- Will actively relate to and support local industry forums.
- Will actively maintain a dialogue with the central bank.
- Will actively develop customer contacts for Markets products and services.
- Will have supervisory and understand and embed the unauthorised trading controls
- Will represent Absa bank and management in various financial markets associations and forums as Market thought Leaders and Subject matter expert
Risk and Control Objective
- Manage risk and control effectively by applying applicable risk frameworks and embedding a positive risk culture
- Understanding of own role in the end-to-end processes in which you play a part, including applicable risks and controls.
- Adhere to Absa’s policies and procedures applicable to own role, demonstrating sound judgement and responsible risk management.
- Report all risk events / incidents / issues using the defined process for your business area and help to understand why these happened and how to prevent them in future.
- Proactively look for ways to improve the control environment by considering what could go wrong in the processes you operate and how errors could be prevented.
- Continuous and proactive engagement with regulatory bodies, unions where applicable
- All mandatory training completed to deadline
Technical Skills/Competencies
- Bachelor’s Degrees and Advanced Diploma (Business, Commerce, Economics and Management Studies) or equivalent
- Basic level ACI Dealing Certificate
- 8 years Global Markets and investment bank experience, with at least 5 years of which should at senior trading role.
- Exposure in financial markets and associated forums
- Expert understanding of balance sheet and income statement analysis.
- Expert understanding of financial risk management strategies and tools.
- A good knowledge of strategies, and back-office operations.
- Full understanding of International and local market dynamics.
- Understanding of treasury operational processes and controls
- Understanding of regulatory issues and controls
- Sound competency in market and liquidity risk management.
- Project management; Negotiation skills; Leadership and team management; Presentation skills and Change management are key competences
Knowledge and Experience
- Knowledge of a Bank’s products, services and/or another specialist knowledge
- A full understanding of the policies, processes and ethical issues surrounding Markets business.
Other Requirements Specific to the Role
- Knowledge of other parts of the CIB Markets.
- A good 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.
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Absa Values
Absa’s Values and Behaviours represent the set of standards which governs the actions of all of us who work for the bank and against which the performance of every one of us in Absa are being assessed and rewarded:
- I drive high performance to achieve sustainable results
- I’m obsessed with customer
- I have an African heartbeat
- I believe our people are our strengths
Education
Bachelor`s Degrees and Advanced Diplomas: Business, Commerce and Management Studies (Required)
Bring your possibility to life! Define your career with us
With over 100 years of rich history and strongly positioned as a local bank with regional and international expertise, a career with our family offers the opportunity to be part of this exciting growth journey, to reset our future and shape our destiny as a proudly African group.
My Career Development Portal: Wherever you are in your career, we are here for you. Design your future. Discover leading-edge guidance, tools and support to unlock your potential. You are Absa. You are possibility.
Job Summary
Job Purpose
Manage Legal Risks; particularly manage Litigation risk and
litigation case outcomes, Competition Law risk, Intellectual Property
risk and Contractual arrangement risk.
Ensure that the Bank has effective Legal & Regulatory risk control
frameworks and processes in accordance with the Absa Group Board
Governance Standards.
Support all business areas and functions ((CIB/Retail/Business
Banking/Treasury/Global Markets/Credit) in relation to their Legal risks
and issues and provide services required to achieve their business and
functional objectives.
Support all non-business areas and functions (People/Customer
Service/Customer Experience and Digital Channels/COO/Sourcing/Marketing
and Corporate Relations in relation to the legal risks and issues and
provide services required to achieve business and functional objectives.
In particular, support Compliance with legal advice in relation to
regulatory compliance, sanctions, financial crime and anti- money
laundering.
Manage relationships with external lawyers using best supplier management practices.
Analyse Legal Risk Management and prepare information reports for submission to various forums at Local and Group Level.
Assist the Company Secretary in the preparation of Board Packs and minutes.
Provide/Conduct training to business areas and non- business areas
relating to legal risks and other contractual related issues.
Support the Bank’s Recovery Strategy both, Retail and Corporate recoveries.
Manage external legal expenditure and tracking.
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Job Description
Main Accountabilities
Commercial Focus
- Proactive approach to identifying, managing and reporting of legal risks and issues.
- Can apply legal principles to the business environment and challenges to find solutions and mitigate legal risk.
- Positively adapts to change and adjusts approach to provide solutions
- Develops strong networks across the organization to get things done.
- Exhibits ability to negotiate and influence people to achieve positive outcomes.
- Clear and confident communicator who tailors message according to audience
Customer Focus
- Understanding of customers stated needs
- Offers insightful service provision in response to business issues.
- Develops professional relationships with key business areas and maintains relationships in testing situations
Technical Skills and Knowledge
- Has a clear logical approach to the issues and provides easy to follow commercial advice
Solution Focus
- Takes ownership of problems and fixes what is not right with personal accountability for high quality outputs
- Gets involved in projects in the team and across the function to share knowledge and learn new skills
Team Working
- Shows enthusiasm for new ideas and contributes to implementation.
- Works with others to improve and seeks coaching/ mentoring for self
- Involves team members when developing recommendations and utilizes resource to the best effect
- Makes the team a fun place to work, supports others to make a success of the team and function and encourages collaborative working.
- Gives observable and honest feedback in a timely manner.
- Work on team and Function wide initiatives to make Absa a better place
Risk and Control Objectives
- In the event of major issues in the business unit, act as crisis coordinator and allocate tasks to the crisis teams.
- Review the risk and Legal profiles of the business unit on a regular basis and provide consultative support to the Head of Compliance & Legal on changes that are required to rebalance risk and reward where required.
- Understanding of own role in the end to end processes in which you play a part, including applicable risks and controls.
- Adhere to Absa’s policies and procedures applicable to own role, demonstrating sound judgment and responsible risk management.
- Keep up to date on all legal and regulatory changes and have the ability to articulate the impact to the Business, be well informed on the industry thinking.
- All mandatory training completed to deadline.
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Technical skills / Competencies
- Strong legal analytical skills.
- Strong written and spoken English including legal terminology.
- Strong conversational English
- Ability to work with figures confidently and to construct and use excel spreadsheets confidently
- Computer literate – comfortable user of usual office software packages
Experience, qualifications and other requirements specific to the role
- Essentials
- Law degree
- Admitted as an Advocate.
- Preferred
- Qualified legal experience (private practice or in-house) dealing with banking and/or commercial issues/clients.
Knowledge and Expertise
- Essential
- Banking Law
- Financial Services Compliance Frameworks
- Anti-Money Laundering Frameworks
- Retail financial services contractual drafting of terms & conditions / products terms etc.
- Commercial banking facility terms and standard security documentation
- Sourcing contractual relationships and drafting
- HR & Industrial relations knowledge
- Civil Litigation knowledge
Read Also:
Absa Purpose Values & Behaviours
Absa’s Values and Behaviors represent the set of standards which governs the actions of all of us who work for the bank and against which the performance of every one of us in Absa are being assessed and rewarded:
- I drive high performance to achieve sustainable results
- I’m obsessed with customer
- I have an African heartbeat
- I believe our people are our strengths
Education
Bachelor Honours Degree: Law, Military Science and Security (Required)
