Fx Chief Dealer - Sandton, South Africa - Bidvest Bank

Bidvest Bank
Bidvest Bank
Verified Company
Sandton, South Africa

1 month ago

Thabo Mthembu

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Thabo Mthembu

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Description

Primary Purpose


As a Chief Dealer, you will be responsible for generating revenue, increasing profitability and market share within the limits of the risk management policy of the bank and regulatory limits as set by the Central Bank.

The Head will manage an experienced FX trading desk and work collaboratively with departments such as Risk and Business. Deliver high-standard work and be comfortable with change. Tactical trading in FX and Commodities to deliver performance vs Budgets, identify and address risk and maximize opportunities. Build on the organization's trading by formulating options or hedging strategies.


Minimum Requirements

REQUIRED MINIMUM EDUCATION AND TRAINING

  • Graduate degree in Economics, Risk, Finance or Quantitative qualification, supplemented with professional qualifications (e.g. CFA, FRM, PRMIA), with a strong analytical foundation

REQUIRED MINIMUM WORK EXPERIENCE
Strong presentation skills and ability to communicate with senior and non-technical stakeholders effectively and credibly.

  • At least 10 years of successful experience in Trading in international markets
  • RE1 or RE5 exam pass (FAIS Compliance)
  • Ability to lead, coach and mentor teams.
  • Excellent analytical and technical skills
  • Excellent organizational, communication, interpersonal and critical thinking skills
  • Strong strategy and business planning skills
  • Strong leadership and people development capabilities
- entrepreneurial and dynamic


Duties and Responsibilities include but not limited to:

FINANCIAL MANAGEMENT

  • Support the management of foreign currency, hedging and other balance sheet risks
  • Identify and implement revenue or cost saving opportunities and ensure adherence to budget.
  • Oversee and maintains the organizations foreign currency market position.
  • Execute foreign currency transactions for the bank.
  • Recommend products based on international currency and commodity markets.
  • Manage the risks of trading on foreign exchange markets while making a profit.
  • Conduct research on the financial markets.
  • Analyse market activity and monitor market trends.
  • Monitor trading activities and transactions of other traders.
  • To identify, measure and report on MtM impacts on FX trades.
  • To maintain, monitor and review the FX trading framework, procedures and contingency plans including for reversals, surrenders, and extensions.
  • Keep up to date with interest rate movements and currency fluctuations internationally through daily studying of country and international economic indicators, etc.
  • Responsible for FX products across the spot and forward markets.
  • Provide prices to corporate dealers, upon request, and meet with customers when requested.
  • Maintain deal record and accurately and timeously perform calculations on daily P/L.
  • Update relevant systems and ensure hedging takes place where risks are identified.
  • Daily management of the Bank's Net Open Position (NOP) within regulatory and internal limits.
  • Performs other related duties as assigned.

CUSTOMER CENTRICITY

  • A keen interest in supporting business development and contributing to the commercial success of our firm through client service.
  • Manage the daytoday operations with due cognisance of:
  • Levels & quality of service delivery as experienced by internal & external stakeholders.
  • Responsiveness: Speed of responses, reaction time, going the extra mile, turnaround time
  • Degree of customer satisfaction

OPERTIONAL EXCELLENCE
Assess system functionalities and recommend improvements

  • Prepare and present strategic papers to Risk and other highlevel committees.
  • Recommend improvements in systems where necessary.
  • Project manage the implementation of the new systems if adopted

PEOPLE LEADERSHIP
Provide project management leadership and supervise junior employees

  • Strong influencing skills, including building relationships with key stakeholders to drive solutions required.
  • Team orientated/Team Player
  • Strong organisational skills, able to prioritise competing priorities and implement plans to deliver against them.
  • May oversee colleagues work when tasks are related to currency exchanges.
  • Assists with performance evaluations as needed

DATA MANAGEMENT
Use organizational data to derive insights for both the regulator and the business

  • Assist in dashboard development including exposure reports.
  • Maintain records in accordance with financial regulations.
  • Advanced MS Office (Excel, Word, and PowerPoint)
  • SQL, Python, and other programming language an advantage

STAKEHOLDER MANAGEMENT
Administrative and Stakeholder Engagement

  • To timeously respond to audit queries
  • Ensure adherence to policies & procedures, legal and ethical requirements, audit requirements and established risk guidelines.
  • Work collaboratively with all departments.
  • To timeously meet adhoc request of internal and external stakeholders
  • Good communicator, written and verbal and able to relay complex issues or improve understanding of key
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