Job Description
Absa House - ABT
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.
Job Summary
Reporting to the Chief Financial Officer, this role is
responsible for:
• Ensuring that a sufficiently robust risk control framework around the
business activity in Treasury exists so as to ensure that market and other risks
undertaken by Treasury is being adequately identified, managed, controlled,
monitored and reported
• Reporting on risk and results, as well as to provide a source of information
for Treasury, finance department and general management, with regard to positions,
results, instruments, products, activities, systems and procedures
• Championing and managing change introduced as a result of change in
regulatory, market or business requirements.
Job Description
- Implement
a fit-for purpose Middle-Office risk control framework in line with Group
Policy
- Ensure
critical controls relating to product control and market risk management
is being observed and raise appropriate awareness in Treasury Front
and Back-Office
- Review
reconciliations undertaken by Middle-Office staff and recommend
appropriate action to resolve out standings
- Review
all risk reports prior to submission to internal/external recipients
- Actively
discuss business issues with country Treasurer to promote/ensure
compliance to policy and procedure
- Improve
risk management control and compliance culture in the Treasury Front and
Back-Office
- Assist
in the reduction of operational risk in the Treasury Front and
Back-Office
- Manage
any change initiatives that impact the Middle-Office function
Product Control responsibilities
Outputs:
- Be
familiar with procedures for the whole Treasury product cycle from deal
initiation to settlement
- Ensure
the following:
- Treasury
positions are revalued (i.e. mark-to-market) correctly
- Accurate
production of daily results
- Prices
used for revaluations of Treasury positions are derived from independent
sources
- Results
are checked against monthly figures and that differences are investigated
and reported promptly
- Assist
in the introduction of new products
- Ensure
that all new products are appropriately authorized and assigned to a
trader and that all relevant support areas are informed of the new
product
- Prepare
commentary on results, positions and days’ activity
- Positions
and results are agreed between Front and Back-Office systems (and dealers
own spreadsheets, blotters etc) and are signed off at the appropriate
level
Risk management responsibilities
Outputs:
Market Risk Management:
- Familiarization
with Front-Office dealing strategies/activities
- Clear
understanding of DVAR (Daily Value at Risk) or any other market risk
measurement methodology employed
- Ensure
calculation of Dvar risk locally, reporting risk position data to Group
Market Risk.
- Investigation
of any variations/excesses in Dvar results and reported
to Group Market Risk.
- Responsible
for reviewing required reporting on DVAR, Open position
- Document
and verify all approved pricing models
Product Control and Reporting requirements and
responsibilities:
- Ensure
that reports (as prescribed by GMR) are submitted to PCG, GMR, Group
Treasury or any other designated recipients on time
- Ensure
that sundry losses are reporting timely and in accordance with group
policy
* Reconciliation of:
- Net
Open Position
- Profit
and Loss
- Front
and Back office positions (FOBO & BOBO)
- Interest
rate risk positions
- Fixed
income positions
* Ensure that reports submitted to the Central bank is
consistent with reports submitted to GMR
Systems maintenance and development:10%
Outputs:
- To
implement any new systems or changes to existing systems as may occur
from time-to-time
- Ensure
Front-Office/Middle-Office/Back-Office staff receive adequate training on
Treasury risk systems
- Develop/design
appropriate reports to provide appropriate information which identifies
the risk positions and profit and loss profile of Treasury
- Liaise
with COO Treasury to increase and prioritise risk system capability to
meet changing regulatory market and business requirements
- Re-engineer
existing Middle-Office processes so as to capitalize on improved systems
capability and functionality
- Manage,
develop and exploit risk system solutions, whilst at the same time
ensuring internal controls are maintained in line with Group
standards
Education
Bachelor`s Degrees and Advanced Diplomas: Business, Commerce
and Management Studies (Required)
Deadline of Submission 19.12.2021
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