Job Summary

The role holder will have specific accountability for the Treasury Execution and Investment Functions, focusing on executing all Funding and Investment needs of the Country and the day-to-day management of the Market, Liquidity and Credit risks that lie within the Treasury Book (Banking Book). The role holder is responsible to ensure that all risks are managed in line with the respective dealing mandates and respective policies and procedures.

 

Job Description

Main accountabilities and approximate time split 

Key actions to include:

In respect of the bank’s liquidity management, undertake the following actions:

Funding Curve/Book Ownership and Structure

• Develop local currency funding curves based on market factors and internal balance sheet structure.
• Drive strategy on local versus hard currency funding   act as centre for review and challenge for business.
• Set-up Treasury Funding Execution books and Treasury Execution Services (TES) Investment books and ensure full ownership of trades, bookings, P&L and Risk
• Ensure any global changes in pricing of curves, hierarchy set-ups, or trade execution bookings are implemented in a timely manner.
• Develop and implement liquidity term premiums in local currency and ensure that these premiums are embedded in the FTP process in order to incentivize the correct behaviour based on the balance sheet structure.
• Interact with business (Corporate, Business Banking and Retail) to ensure funding curve is appropriate for business strategy and provide training to business on funding curve construction.

 

TES Risk Management

• Liaise with Country liquidity risk and ALM managers to ensure that all relevant businesses are transfer priced according to the Transfer Pricing policy in a consistent, transparent, and fair manner.
• Ensure all the resultant risks, quantified above, are well understood and ensure the Funding Curve is set taking the above business risks into account.
• Develop strategies to reduce the balance sheets risks created in the normal course of banking business Together with ALM, achieve these strategies by incentivizing business and by advising on products to be rolled out in the Retail, Commercial and Wholesale market.
• Represent TES on country / regional ALCOs as necessary do provide feedback on net risk positions and resultant Funding curve incentives.
• Provide country insight into stress testing and work with country liquidity managers to highlight jurisdiction / country specific issues.
• Work with business on trades, to ensure compliance with liquidity regulations, whilst ensuring the best commercial outcome Work with Finance to implement hedge accounting solutions in each country to better enable economic hedging of liquidity, whilst minimizing MTM accounting volatility
• Take Full ownership of TES risk positions, P&L generated, and actively manage both.

 

TES Reporting

• Daily dashboard submission to Country Management and ARO Treasury to include Liquidity, PV01, P&L flash
• Weekly liquidity conditions update (Daily in times of stress), including risk metrics.
• Monthly balance sheet updates on key liquidity and market risk metrics
• Local Currency Funding curves presented monthly at ALCO’s
• P&L explanations of TES book and ownership of the flash process
• Desk level risk reports IR01
• Explain DVar in relation to TES positions.

 

Financing for the Firm

• Create wholesale funding franchise in Local Currency
• Establish customer base and work with Sales to originate funding
• Publish Fixed and Floating deposit screens to attract deposits and work with clients to ensure smooth process of daily funding execution
• Work with regulators and other interbank participants to develop the Money Market in country.

When required, work with DCM to issue senior debt in country

Key actions to include:

• Coordinating with the local team the issuance of (where appropriate):
•  Unsecured funding (senior and subordinated capital)
•  Secured funding (securitization)
•  Managing the bond maturity (refinance) profile
•  Identifying new funding sources and diversification opportunities

Managing Investor relations & debt related investor enquiries

Key actions to include:

• Participating in the Treasury Investment Committee

• Managing Surplus Liquidity and Liquidity Buffers to optimize risk / return.
• Investment of Liquid Assets to meet regulatory requirements and serve as a hedge for structural balance sheet positions.
•  Formulating and implementing efficient asset/tenor allocation strategies by staying close to the market and enhancing value for the firm
•  Enhancing portfolio yield relative to benchmark hedges provided by business within Market Risk guidelines.

 Compiling and distributing detailed MI on portfolio composition and performance and drivers of performance

 

To be accountable for the Treasury Trading and related functions, focusing on executing all FX, Bond and Equity trading, as may be relevant, whilst achieving income and business unit growth objectives.

Ensuring the traders undertake the following:

The generation of trading income with the objective of achieving income and business unit growth objectives. The provision of pricing to the interbank market and to the sales dealers. 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).

 

Key actions to include:

• Developing and executing trading strategies in line with the Treasury strategy, the ARO Treasury trading strategy, and the trading mandate
• Approving the execution of trading strategies
• 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
• Working closely with the Africa trading desk and Africa Sales to support the roll out of Risk Management Products (RMP’s)
• Reviewing and evaluating the performance of individual traders based on business development, income, relationships with counterparties and the regulator, and efforts in growing the trading franchise.
• Keeping up to date with market intelligence and market movements and regularly updating the treasurer, the sales team, and the broader treasury team
• Generating a daily flash P&L by the cut-off time as advised by ARO  Trading
• Establishing excellent working relationships with bank counterparties and the regulator (as is appropriate)

 

Key actions to include:

• Driving the annual planning and review of trading STP, RAF and MTP budgets
• Giving input on and approving dealer mandates for further approval by the Country Treasurer prior to submission to risk
• Reviewing daily risk and P&L reports

 

Key actions to include:

• Actively managing one’s own and the team’s technical and soft skills development
• Researching, identifying and proposing training solutions to senior management for one’s own and for the team’s development

 

In everything one does, demonstrating the Absa Values of Respect, Integrity, Service, Excellence and Stewardship

 

Risk and Controls Objectives

Manage risk and control effectively by applying applicable risk frameworks and embedding a positive risk culture

• Understanding of own role in the end to end processes in which you play a part, including applicable risks and controls.
• Adhere to Barclay’s policies and procedures applicable to own role, demonstrating sound judgement and responsible risk management.
• Report all risk events / incidents / issues using the defined process for your business area and help to understand why these happened and how to prevent them in future. Proactively look for ways to improve the control environment by considering what could go wrong in the processes you operate and how errors could be prevented.
• All mandatory training completed to deadline

Technical skills / Competencies

Personal Attributes:

• Understanding of the policies, procedures and ethical requirements of a Treasury environment
• Skills required to undertake the Leadership role:
• Subject matter expertise and relevant experience (banking and Treasury)
• Leadership and team management
• Negotiation skills
• A good communicator who is able to articulate the rationale for liquidity control and add value to business stakeholders
• Performance Imperatives:
• delivering results.
• being aware of market trends.
• achieving high standards & best practise.
• understanding of the Treasury Business Model
• Good Money Management skills.
• Understanding of treasury operational processes and controls
• Excel competency

 

Essential and preferred Experience

• ACI
• Anti-Money Laundering
• Sanctions
• Performance Development
• Values
• Sales skills and techniques
• Absa prescribed training
• Risk management training (market / credit / operational risk)

Absa Values

Approvals

Absa’s Values and Behaviours represent the set of standards which governs the actions of all of us who work for the bank and against which the performance of every one of us in Absa are being assessed and rewarded:

• Trust
• Resourceful
• Stewardship
• Inclusive
• Courage

 

Education

Bachelor`s Degrees and Advanced Diplomas: Business, Commerce and Management Studies (Required)