Stanbic IBTC Bank is a firm believer in technical innovation, to help us guarantee exceptional client service and leading edge financial solutions. Our growing global success reflects our commitment to the latest solutions, the best people, and a uniquely flexible and vibrant working culture. To help us drive our success into the future, we are looking for an experienced Database Administrator to join our dedicated team at our office.
Standard Bank is a leading African banking group focused on emerging markets globally. It has been a mainstay of South Africa's financial system for 150 years, and now spans 16 countries across the African continent.
Stanbic IBTC Bank is recruiting to fill the vacant position of:
Job Title: Manager Market Risk
Job ID: 12639
Location: Nigeria
Division Proposition
Effective risk management is fundamental to the business activities of the Standard Bank Group (group). While we remain committed to increasing shareholder value by developing and growing our business within our broad determined risk appetite, we are mindful of achieving this objective in line with the interests of all stakeholders.
Position Description
- To effectively monitor and report market risk and other related risks of the bank on a daily basis
- To ensure that the Senior Management and the Traders of the bank are fully aware of the market risks within the trading books
- To advice and educate on possible outcomes and resolutions of the bank’s risk
- Enforce and ensure compliance with market risk policies and procedures
- Identification of new risk exposures and factors
- Effective and comprehensive price validation of all risk drivers
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 Market Risk 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 etc.). 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 back testing 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, training 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)
Experience
Candidate must have 3 to 5 years of experience in a Financial Institution, 3 of which must be in Market Risk
Required Competencies
- Technical competencies
- Interest Rate Instruments
- Good understanding of how the Bond, FX and Interest Rate Markets work
- Good knowledge of VaR and Stress testing
Personal competencies
- 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
- We are an equal opportunities employer and are totally opposed to discrimination in any form. It is our policy to provide equal employment opportunities for all employees regardless of race, sex, colour, nationality, national or ethnic origin, sexual orientation, marital / partnership status, religion, age or disability.
Application Closing Date
20th June, 2014
How to Apply
Interested candidates should
Click here to apply