Zambia National Commercial Bank Plc (Zanaco) is inviting applications from suitably qualified and experienced individuals for the following job aimed at contributing to the Bank’s strategic vision, in the Commercial Division under the Treasury Department to be based at Head Office:-
HEAD TRADING (X1)
The Head Trading is responsible for the development and implementation of the Treasury trading strategy. The role holder will play a key role in managing the dealing room with emphasis on trading and execution and will spearhead the market making function of Treasury.
Under the supervision of the Treasurer, the following are among the Job Key Responsibilities:-
- To provide critical input in the Bank’s overall Asset and Liability Management (ALM) strategy.
- To maximize foreign exchange and money market trading income through effective fundamental and technical market analysis.
- To effectively manage the Bank’s single and overall currency positions.
- To ensure that trading is done within stipulated limit requirements.
- To generate, identify, evaluate and make recommendations on overall Treasury strategy and business.
- To establish an operating rhythm driving the Bank’s Treasury trading proposition.
- To drive the trading strategy complementing all Treasury trading sales.
- To drive initiatives to stem balance sheet and income leakages.
- To drive Treasury product utilization across all client segments.
- To be accountable for all Treasury trading instruments and products financial KPI’s.
- To identify, manage and ensure the high value-at-stake initiatives from Treasury are realized.
- To proactively manage all interest rate risks associated with the gathering of liabilities and assets within the Bank operation where this is the direct responsibility of Treasury.
- To apply the transfer pricing policies of the Bank at all times.
- To ensure all financial and non-financial targets are met.
- To champion the ALM process and add value through efficient balance sheet management to the country ALM process as required within the guidelines set by the Bank.
- To ensure effective management of surplus and short funding positions to enhance liquidity and maximize returns.
- To manage the cost of deposits in accordance with the agreed Treasury Strategy.
- To manage all interest rate risks associated with gathering of liabilities and assets creation, where this is the direct responsibility of Treasury.
- To ensure that gathering of liabilities and assets is done within set guidelines and limits as set by the Bank and in adherence to regulatory requirements.
- To effectively trade the Bank’s currency positions to maximize profitability.
- To effectively trade Money Market Instruments to ensure strategic Asset & Liability alignment in accordance with overall ALM strategy.
- To identify pertinent performance and risk management issues.
- To effectively provide pricing to perform the market-making role in order to achieve price discovery.
- To ensure the right Asset/Liability portfolio mix in line with strategy.
- To manage liquidity mismatches via execution of strategy and manage maturity mismatches via execution of strategy.
- To review mark to market valuations on the securities portfolio in liaison with the Middle Office.
- To provide informed strategic decisions to effectively perform the daily forex and money markets trading.
- To anticipate stakeholder (Central Bank, Ministry of Finance, commerce bodies,Stock Exchange etc.) actions in order to formulate business planning.
- To develop and promote new Treasury Products and services as required by Treasury internal and external customers.
- To provide input into the Treasury Business Plan that encompasses and supports the Treasury vision.
- To execute defined servicing model for Forex Trading/Money Markets.
- To ensure that all regulatory requirements are met and that all internal policies and procedures are complied with.
- External: Local Regulators on statutory matters; Financial Institutions
- Internal: All Divisions.
QUALIFICATIONS AND EXPERIENCE
- Grade 12 Credit or above mandatory in Mathematics and English and any other three subjects.
- University Degree in relevant subject.
- MBA is an added advantage.
- Treasury Qualification such as ACI or ACT.
- At least five (5) years Treasury experience.
- Knowledge of the Banking/Treasury products, services and policies and/or other specialist knowledge required to undertake the role.
- A detailed knowledge and understanding of technical services provided by Service Delivery support of system platforms.
JOB CORE COMPETENCIES
- Verbal and written communication
- Persuading and selling
- Drive for results
- Analytical thinking
- Team work
- Problem solving
- Conceptual thinking
- Strategic leadership
- Presentation and facilitation