23 Nov 2022

Head, Treasury Execution Services at Absa Bank

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Job Description


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.

My Career Development Portal: Wherever you are in your career, we are here for you. Design your future. Discover leading-edge guidance, tools and support to unlock your potential. You are Absa. You are possibility.

Job Summary

Treasury provides core banking support to the business in areas of funding, liquidity management, capital management, etc. Treasury Execution Services is the dealing arm of Treasury, in charge of day to day liquidity management, short and long term funding, FTP curve construction and ownership, etc.

To be accountable for the Treasury Execution team, focusing on executing the Banking Book mandate. Ensuring that all risks are managed under the separate portfolios in line with the respective dealing mandates and the respective policies and procedures, with special focus being placed on the management of the Investment portfolio, funding and liquidity management.

To be accountable 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 Execution Portfolio.

Job Description

Daily/ Periodic Liquidity/ Risk Management / Funding & Reporting – Time split – 80%

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 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 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. 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 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 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

  • 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
  • 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

Long Term Funding – Time Split – 5%

  • Work on Unsecured funding (senior and subordinated capital)
  • Work on Secured funding (securitization)
  • Managing the bond maturity (refinance) profile
  • Identifying new funding sources and diversification opportunities
  • Managing Investor relations & debt related investor enquiries

Investment – Time split – 10%

  • Participating in the Treasury Investment Committee
  • Managing Surplus Liquidity and Liquidity Buffers to optimise 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

Responsible for liquidity stress testing PERSONAL DEVELOPMENT – Time Split – 5%

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

Knowledge And Skills Required-Essential

  • Understanding of the policies, procedures and ethical requirements of a Treasury environment
  • Knowledge of interest rate risk management including structural and behavioural analysis
  • Knowledge of liquidity and funding risk management
  • Knowledge of capital risk management
  • Knowledge of financial markets and economic fundamentals
  • Knowledge of treasury, retail, corporate and capital markets products
  • Excel competency
  • Communication skills

Knowledge & Expertise-Preferred

  • A detailed knowledge of the Treasury Balance Sheet Management Understanding of banking across segments
  • Ability to influence decisions with ability to lead strategy on future initiatives

Formal Learning Required

  • Essential Requirement – A degree holder with appreciation for numerical and statistical analysis

Experience Required

  • 1-3 years’ related experience

Preferred

  • 5 to 10 years’ experience in financial markets with emphasis on Treasury related experience

Education

Bachelor’s Degree: Business, Commerce and Management Studies (Required)





Method of Application

Submit your CV and Application on Company Website : Click Here

Closing Date : 5th December, 2022




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