2
Job Purpose:
Control and co-ordinate the bank’s foreign currency spot and forward positions created by sales and purchases to and from inter-bank, branches and clients and manage the resulting market risk positions profitably and within agreed proprietary trading limits.
Key Responsibilities
- Trading: Execute and negotiate foreign exchange transactions to ACHIEVE budgeted targets. Focus on G10 Currencies (GBP,EUR, JPY, AUD)
- Management of positions created by customers and branches, by either accessing the interbank market to neutralize positions or running proprietary risk within limits signed off.
- Achieve returns through a working knowledge of foreign exchange hedging strategies utilizing market liquidity, volatility and pricing.
- Strategy: Formulate strategies to target and increase trading with local and foreign counterparties through new trading platforms, new markets, new currency pairs and new products.
- Provide assistance on an ongoing basis with the sales team about product capabilities, changes in products as required and quote clients when the sales team are out for meetings.
- Structure and price treasury products.
- Provide analysis of economic indicators, technical, intra-day movements and their effects on specific currency pairs to the treasury team.
- Maintain strong relationship with the dealer community.
- Adherence to trading, credit and settlement limits.
- Understand and perform the functions necessary to book trades in the foreign exchange system of record (Acumen and Flex cube) and work directly with sales, middle office and treasury back office in resolving issues with trade tickets, confirmations, payment advice and reports.
- Monitor and evaluate trading results.
- Client service i.e. Serve as primary contact for AAA clients who have specific clients in currencies and identify additional business opportunities.
- The trader will also be a proxy to the Money Market desk
Customers of this Position
- All Banks and FIs
- All Departments in the Bank
Knowledge: Skills and Experience required for this Role
- Bachelor’s degree in finance, Accounting, Economics or Mathematics. MBA/CFA in progress desired.
- ACI Dealer Certification
- 2-5 years of relevant foreign exchange practices.
- Knowledge of underlying financial theory behind foreign exchange and foreign exchange options including market liquidity, volatility, pricing, and trading/hedging strategies.
- Knowledge of electronic execution platforms and trading systems.
- Knowledge of trading costs and settlement practices.
- Good understanding of macro-economic indicators and their practical implications on the money market.
- Ability to communicate at all levels and client service abilities.
- Detail oriented and very precise with numbers.
- Composure to perform well under pressure and make rapid decisions.
- Proficiency in Microsoft Office Suite
- Flexible and ability to thrive in a fast-paced, unstructured environment.
Competencies required for this Role
- Knowledge/experience of FX contracts, debt capital markets, securitization, covered bonds, asset & liability management techniques, IAS 39.
- Able to contribute innovative ideas to improve the performance of the Treasury function and to assist in core business development and meet targets.
- Having good communication skills to cultivate & develop long relationships with clients.
- Ability to cooperate with fellow employees and work closely as a team player within the department, marketing department, customer service and treasury back-office.
- Good time management & multi-tasking skills.
- Ability to handle pressure & stress of market volatility during trading, excessive workload and extra responsibilities.
- Keep up to date with current global developments, including economic & political.
- Self-development and keeping up to date with latest market developments and technology.
- Good analytical skills and problem-solving skills.
