About this role
Empowering Africa’s tomorrow, together…one story at a time.
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
To be responsible for executing the Trading book mandate as delegated by the Head of Trading ensuring:• The generation of trading income from trading in Foreign Exchange as is permitted under the dealer mandate, with the objective of achieving income and business unit growth objectives.
• Making market to the Foreign Exchange markets, as appropriate.
• The provision of pricing to sales dealers in order to facilitate client business.
• Ensuring that that all risks are managed under the respective portfolios according to the dealing mandate and the respective policies and procedures (adherence to market risk limits, credit risk limits, tenor limits).
Job Description
FX TRADING
Developing and executing trading strategies in line with the Markets strategy and the overall Absa Africa trading strategy, within ones dealer mandat
Anticipating market developments and identifying trade opportunities with risk-adjusted superior returns
Ensuring that the daily transactions and trading activities conform to the set business unit goals and objectives
Focusing on revenue, business development, relationships with counterparties and the regulator, and growing the trading franchise
Working closely with the Africa trading desk and Africa Sales to support the roll out of Risk Management Products (RMP’s)
Taking into account the cost of funding in all trading decisions
Keeping up to date with market intelligence and market movements and regularly updating the Head of Markets , the sales team, and the broader Global Markets team
Establishing Excellent working relationships with bank counterparties and the regulator (as appropriate)
Generating a daily flash P&L by the cut-off time as advised by Absa Africa Regional Markets.
Giving Input to the Head of Trading in respect of the annual planning and review of trading budgets.
RISK MANAGEMENT
Giving input to the Head of Trading in respect of the annual planning and review of trading STP, RAF and MTP budgets
Giving input on the Trading desk Strategy
Ensuring that one trades within one’s mandate, stipulated processes, limits and controls.
PERSONAL DEVELOPMENT
Actively managing one’s own technical and soft skills developmen
Researching, identifying and proposing training solutions to senior management for one’s own development
Technical Experience and Capability
Bachelor’s Degree in Mathematics, Finance, Economics, Accounting or any Finance Related Qualifications
ACI Dealing Certificate
3-5 years’ experience related experience
Market Making experience
Trading experience
In-depth trading knowledge / experience of local market Rates and FX products
Good working relationships with Market Stakeholders and Regulators.
KNOWLEDGE AND SKILLS REQUIRED
Understanding of the policies, procedures and ethical requirements of Global Markets and Trading environment
Performance Imperatives:
Delivering results;
Being aware of market trends
Achieving high standards & best practise;
Understanding of the Global Markets Business Model
Good Financial and analytical skills;
Understanding of Markets operational processes and controls
Excel competency and ability to adapt to various systems and platforms
Preferred
Market Making Experience
Understanding of the dynamics of FX Trading
Understanding of Markets and Macro economic environment that impacts exchange rates and interest rates
In-depth trading knowledge / experience of local market Rates and FX products
Good working relationships with Market Stakeholders and Regulators
Key Success Measures / Key Performance Indicators
Achievement of FX Trading Revenue Targets
Supporting Sales team with client pricing , Market intelligence and driving of Risk Management Products.
Leveraging on the Hub and Spoke model with the SA FX team to drive volumes and revenue
Essential Training Required & Specific to the Role
ACI Dealing Certificate
Anti-Money Laundering
Sanctions
Performance Development
Absa Values
Sales skills and techniques
Absa prescribed training
Risk management training (market / credit / operational risk)
Risk, Governance and Regulatory
“Ensure that all activities and duties are carried out in full compliance with regulatory requirements, Enterprise-Wide Risk Management Framework and internal Absa Policies and Policy Standards. Understand and manage risks and risk events (incidents) relevant to the role.”
Education
Bachelor`s Degrees and Advanced Diplomas: Business, Commerce and Management Studies (Required)Other facts
About Absa Group
Absa Group Limited (Absa) has forged a new way of getting things done, driven by bravery and passion, with the readiness to realise growth on the African continent and beyond.
We’re a truly African brand, inspired by the people we serve in Botswana, Ghana, Kenya, Mauritius, Mozambique, Seychelles, South Africa, Tanzania, Uganda, and Zambia. We also have representative offices in China, Namibia, Nigeria and the United States, as well as securities entities in the United Kingdom and the United States, along with technology support colleagues in the Czech Republic.
What you'll do
- The Trader is responsible for executing the Trading book mandate, generating trading income from Foreign Exchange, and managing risks according to policies and procedures. They will develop trading strategies, anticipate market developments, and support the sales team with client pricing.
Ready to join Absa Group?
Take the next step in your career journey