Manager MarketRisk Stanbic IBTC Bank

Stanbic IBTC Bank - If you are really committed to building your future career, then you need to work with a bank that has earned an unrivalled global reputation for trust, innovation, and service. As the largest bank in Africa, we now operate in 38 countries worldwide focussing on emerging market opportunities

We are recruiting to fill the above position of:

Job Title: Manager MarketRisk
Job ID: 11220

Job Description
Main Purpose of the Job
To effectively monitor and report market risk and other related risks of the bank on a daily basis.

Key Responsibilities

• Enforce and ensure compliance with market risk policies and procedures as it relates to FX, MM, FI and FI.
• Identify all the products in the books of the bank, ensure they have been signed off by the NPC and mandates exist for their use. Ensuring that only authorized products and risk factors are traded by desks.
• Track the P/L from all products in the Banking & Trading Book. This entails daily review of Risk and P&L reports & determines P&L attribution per product.
• Quantification of MR for Trading book, Banking book for Equity, Interest rate products and for FX products.
• Supervise production of daily, weekly and periodical MR reports to various committees of the firm (ALCO, BRMC etc)
• To ensure that relevant meaningful and insightful commentary is included in all reports (daily, weekly, monthly e.t.c) that clearly and succinctly gives the reader an understanding of the salient risk exposures and sources of P& L on the desk, country, region, FX business and demonstrates the preparers understanding thereof.
• Supervise Effective and comprehensive price validation of liquid risk drivers (daily) and all risk drivers (at least monthly).
• Management of all breaches from identification through to closure thereof (position reduction, condonement e.t.c). This includes recommendations of corrective actions to traders before close of business. This involves daily monitoring of exposures, limits for all the books i.e. banking, trading & Equity.
• Monitoring of backtesting exceptions.
• Quantification of Normal VaR, Stress VaR and PV01 computation & analysis.
• Automating all risk reports to shorten the time for producing the reports and increase integrity.
• Building and strengthening relationships and ensuring interaction with Front office, Back office, Finance, and Calypso IT Team.
• Providing leadership, for subordinate(s) in terms of an efficient working environment, and doing more with our current resources.

Required Skills and Qualifications
Qualifications

• A good first degree in a quantitative field
• Good understanding of various Financial Instrument Analysis (Bonds, FX, Interest Rate Instruments)
• Good understanding of how the Bond, FX and Interest Rate Markets work
• Good knowledge of VaR and Stress testing
• Ability to manage a team
• Ability to program in VBA for Excel or other suitable OOL while not compulsory would be a bonus

Application Closing Date
7th May, 2013

Method of Application
Interested and qualified candidates should:
Click here to apply online