Head of Trading
NBC is the oldest serving bank in Tanzania with over five decades of experience. We offer a range of retail, business, corporate and investment banking, wealth management products and services.
Job Summary
To be accountable for the Trading and related functions, focusing on executing all FX, FI, Rates Other, XVA and Credit trading, as may be relevant, whilst achieving income and business unit growth objectives.
Ensuring the traders undertake the following:
1. The generation of trading income with the objective of achieving income and business unit growth objectives.
2. The provision of pricing to the interbank market and to the sales dealers.
3. 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, etc).
3. Implement annual trading strategy and develop local trading business
KEY RESPONSIBILITIES AND DELIVERABLES
TRADING - 70%
Key actions include:
- Developing and executing trading strategies in line with the NBC Markets strategy, the ARO Markets strategy, and the trading mandates
- 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 new products and asset classes
- 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 Head of Markets, the sales team, the Balance Sheet Management team and the broader Treasury & Markets team
- Generating a daily flash P&L by the cut-off time as advised by the policies, standards and guidelines
- Establishing excellent working relationships with bank counterparties and the Regulator (as is appropriate)
RISK MANAGEMENT - 20%
Key actions Include:
- Driving the annual planning and review of trading budget
- Giving input on and approving dealer mandates for further approval by the Head of Treasury & Markets prior to submission to risk
- Reviewing daily risk and P&L reports
- Ensuring adherence to limits – both internal and external as well as compliance with all Regulations, Policies and Standards
PERSONAL AND TEAM DEVELOPMENT - 10%
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
KEY QUALIFICATIONS AND EXPERIENCE REQUIRED
Essential:
- 3-5 years’ worth of related experience
- ACI Dealing Certificate or Equivalent
- Trading experience
- Market Making experience
Preferred:
- Management experience
- In-depth trading knowledge / experience of Rates, FX & RMP products
- ACSI
Qualifications
Analytical Thinking - Advanced (Meets all of the requirements), Bachelor`s Degrees and Advanced Diplomas - Business, Commerce and Management Studies, Decisiveness (Meets all of the requirements), Digital familiarity (Meets all of the requirements), Entrepreneurial thinking (Meets all of the requirements), Experience in a similar environment at management level, Investment Management (Meets all of the requirements), Openness to change (Meets some of the requirements and would need further development)
