Junior Trader ZAR Secondary and NonZAR Money Market

Junior Trader ZAR Secondary and NonZAR Money Market

Apply remote type: Hybrid

Locations: Sandton

Time type: Full time

Posted on: Posted Yesterday

Time left to apply: End Date: November 19, 2024 (5 days left to apply)

Job Requisition ID: R-15969265

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 the bank is sufficiently funded. Manage liquidity and interest rate risk in the funding pools. Making appropriate funding and investment decisions to optimize 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 minimal cost. Good communication skills are required to maintain and grow client relations. Expected to have robust dialogue with the dealer community, leveraging market color, 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 a 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, and Front based on the bank's 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.

- Anticipate market developments and identify trade opportunities with risk-adjusted superior returns.

- Intra-day cash management and effective management of the bank's 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+ years of 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 is an equal opportunity, affirmative action employer. In compliance with the Employment Equity Act 55 of 1998, preference will be given to suitable candidates from designated groups whose appointments will contribute towards achievement of equitable demographic representation of our workforce profile and add to the diversity of the Bank.

Absa Bank Limited reserves the right not to make an appointment to the post as advertised.

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