Junior Trader Zar Secondary and Nonzar Money Market

1 month ago

Sandton, South Africa Absa Bank Limited Full time

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. Job Summary

The purpose of the role is raising funding from various sources to ensure bank sufficiently funded. Manage Liquidity and Interest rate risk in the funding pools. Making appropriate Funding and Investment Decisions to optimise revenue for the firm within market risk and liquidity risk parameters. Monitor risk reporting and affirmation of daily profit and loss. Continues interaction with all treasury pillars to enhance regulatory positions with mínimal cost. Good communication skills in order to maintain and grow client relations. Expected to have robust dialogue with dealer community, leveraging market colour, opinions and liquidity. Create a liquid Secondary Market in ABSA Paper, Treasury Bills and other tradable paper. Quoting internal and external stakeholders and being a market maker.

Job Description

Accountabilities:

- Manage investment portfolio for global securitized market unit, including making investment decisions, monitoring risk and reconciling profit and loss on day-to-day basis.
- Daily operational requirements of deal capturing, client interaction and service, follow up of queries, quoting prices, managing maturities of funding, buybacks and re-structures of funding.
- Assist in building financial models to optimize pricing of funding and valuation of MM instruments.
- Real-time analysis of market rates and timeous updating of rates on Reuters, Bloomberg, Front based on banks liquidity needs.
- Submission of benchmark contributions like JIBAR, SABOR etc.
- Using interest rate products to hedge funding and investment activity where required and general risk and liquidity management of the book.
- Execute trades with internal and external counterparties.
- Trade an array of instruments: Vanilla MM products and other relevant funding and hedging products (includes not limited to NCD’s, FRN’s, Loans and Depo’s, Treasury Bills, SARB Debentures, Swaps, Fras etc)
- Anticipate market developments and identify trade opportunities with risk-adjusted superior returns.
- Intra day cash management and effective management of banks surplus cash positions
- Track fundamental analysis and its impact on FX and interest rate markets
- Be familiar with published economic data and the impact on the interest rate market.
- Inter team interaction with Group Treasury and other Absa Capital Trading desks daily.
- Understanding and sensitivity to Intraday Liquidity position and risks, Wholesale Funding Targets, Economic Funding Model. Team Dynamics - Team Player
- Money Market Trading team through driving core values of innovation, being dynamic and motivated. Good communication skills are a key requirement of the role

Accountability: Stakeholders
- Engage with and maintain good relationships with key stakeholders, Regulators, internal Group Treasury and clients. Team Dynamics - Team Player
- Money Market Trading team through driving core values of innovation, being dynamic and motivated. Good communication skills are a key requirement of the role
- Play a positive role in Corporate Citizenship

Accountability: Regulatory
- Adhere to all Absa Compliance requirements, regulatory frameworks and policies.
- Knowledge of regulatory impacts i.e. Basel 3, LCR, NSFR etc. Optimize positioning to adhere to requirements while enhancing return for the firm

Accountability: Revenue and Risk
- Using interest rate products to hedge funding and investment activity where required and general risk and liquidity management of the book.
- Overlay derivative strategies on the book to enhance revenue generation and risk positioning of the banking books to protect revenue is crucial.
- Good and quick decision making skills in this dynamic and ever evolving volatile market environment.
- Using FX products (Cross Currency swaps, Int rates swaps, FX spot) to hedge funding and investment activity where required and general risk and liquidity management of the book.
- Continuous monitoring of opportunities in the FX basis market. Prompt decision and execution within risk limits

Education and Experience Required
- Bachelor's degree in Business, Economics, Finance or Quantitative field
- 3+ year's experience in fixed-income trading, structuring, Money Market or other Front Office or Middle Office Markets environment.
- Rates experience trading and/or sales preferred

Education

Bachelor's Degrees and Advanced Diplomas: Business, Commerce and Management Studies (required)
- Absa Bank Limited reserves the right not to make an appointment to the post as advertised_

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