Summary
Date Posted: Thursday, October 17 2024, Base Salary: Not Disclosed

JOB DETAILS:
NBC is the oldest serving bank in Tanzania with over five decades of experience. We offer a range of retail, business, corporate and investment banking, wealth management products and services.

Job Summary
This role reports into the in-country CIB Managing Executive and Head of Global Markets ARO and is one of the key strategic growth vector for CIB. Role holder will be accountable for driving the Global Markets strategy at a local country level in alignment with the Global, Regional CIB, and Country strategies. Play a key executive management role at a regional and country level by serving as a formal member of various governance committees as required to satisfy relevant reputational, societal, and regulatory requirements. Leadership of in-country Market and country management teams.

Interact with Global bodies (ACI, Basel Committee, CLS, Sophisticated International clients, Strategic Regulatory Offices (Central Banks, Department of Finance, Stock Exchanges, Clearing houses etc.) and Industry Forums (Banking Associations). In addition to size and complexity of the business, your holders’ leadership and brand ambassador responsibilities are critical in managing conduct and reputational risk. The regulator seems this role as ‘Material Risk Taker’ in nature and senior role within the Bank and Industry. Role holder is often required to provide input or present to boards or regulatory bodies on systemically important information, for the industry, where strategic macro decisions are made.

Job Description
Key accountabilities/Deliverables/Outcomes
Strategy development and execution: Time split 20%
• Sets Market’s strategic priorities, growth initiatives and business objectives at a country level in line with Regional CIB, Global Markets and Country strategic imperatives to ensure that the footprint is grown in the correct manner.
• Be a senior stakeholder and voice within the country business committees ensuring the right focus is achieved and priorities are clearly understood and supported for Market.
• As a regular attendee of the Country MBR, provide support to the Country MD on Market objectives in country while owning escalating issues highlighted
• Drive and manage revenue growth and mix, cost reduction, productivity improvement, investment strategy and asset utilisation for Markets
• Translate Client and Sector strategic priorities into strategic and tactical plans for Markets distribution.
• Direct your team to implement Markets strategic and tactical plans.
• Ensure that Markets product offering is well positioned to provide competitive, profitable and value building products and services in line with client expectations through continuous innovation, industry benchmarking and alignment to best practices;
• Scan the external market landscape for opportunities and review recommendations based on thorough research and analysis of different sectors, industries and companies, in order to set distribution and price targets.
• Formalize sales and trading performance targets for the short to medium -term, including return on investments, capital utilization, cost performance, risk, compliance, governance, employee satisfaction and customer experience requirements.
• Actively work to optimise the deployment of capital against initiatives and projects that are likely to bring the best return on investment.
• Develop and implement timely corrective actions with respect to country goals, business, and financial plans to mitigate risks, emanating from threats and opportunities arising from internal and/or external environmental changes.
• Driving Sovereign risk, Credit and Market risk limits reviews as well as country risk reviews for local markets within their ambit, aligning with the ARO Head of Markets and collaborating closely with respective Product verticals to support STP and MTP ambitions for the business.
• Fully own return metric for Markets businesses, seeking to consistently bench mark internally and externally. Optimising returns on Risk weighted Assets and driving an optimal cost income ratio.
• Working with the Markets Treasurer seek to optimizing capital and funding for the business in order to optimize returns and minimize Markets funding costs
• Drive a holistic approach to liquidity and funding seeking to develop alternative funding source to optimize the cost of funding for country business while lowering the drag on returns.
• Work with the Primary product/vertical owners to ensure effective embedment of the target operating model within the country. Drive the growth and development of the Markets product lines into country and robust links in the respective product verticals
• Ensure full alignment to the sales vertical working closely with the Head of Sales and structuring, ARO Head of Markets and ARO Management team
• Manage sizeable Credit and Market Risk exposures and often account for between 10-30% of the total entities Balance Sheet.

Internal and external stakeholder management: Time split 20%
• Establish and maintain networks of external client and stakeholder relationships in order to proactively identify opportunities to grow the business and acquire new clients.
• Act as a senior client sponsor on selected deals and as the face of Global Markets to key clients, industry bodies, regulators and governments.
• Collaborate with country and CIB stakeholders to create synergies and leverage off-other distribution channels with the aim of growing the CIB franchise.
• Collaborate with various industry leaders to influence trends in the marketplace.
• Effectively communicate developments within areas of activity to all relevant internal and external stakeholders.
• Develop and maintain effective working relationships with internal (incl. Product and Coverage) and external business partners and service providers for seamless delivery.
• Interact with Global bodies (ACI, Basel Committee, CLS, Sophisticated International clients, Strategic Regulatory Offices (Central Banks, Department of Finance, Stock Exchanges, Clearing houses etc.) and Industry Forums (Banking Associations). In addition to size and complexity of the business, your holders’ leadership and brand ambassador responsibilities are critical in managing conduct and reputational risk. The regulator seems this role as ‘Material Risk Taker’ in nature and senior role within the Bank and Industry
• Interact with media and other reporting bodies (exchanges).
• The role holder needs to be the voice of the local Markets business amongst key regulators and industry forums
• The role holder must be the centre of excellence and guide to the Markets Teams providing consistent support around key regulatory matters and issues as a point of reference and escalation with further escalation to the ARO Head of Markets and Group Head of Markets.
• Ensure a detailed understanding of local regulators standards, rules, and guidelines with full ownership of the regulatory landscape.

Financial and Resource Management: 20%
• Ensure that capital is managed as a resource and desired returns on capital are achieved.
• Actively work to optimise the deployment of capital against initiatives and projects that are likely to bring the best return on investment.
• In consultation with relevant stakeholders, drive the annual planning and review of MTP, STP and Revised Annual Forecast (RAF) budgets including the setting of MTP and STP Financial targets and standards and related measures and anticipated financial cost targets.
• Monitor annual resource utilisation and implement strategies to improve the efficient allocation and utilization of resources in-country.
• Ensure accurate and timely financial reporting in terms of the annual calendar including tracking Markets MIS on an ongoing basis.
• Implement effective corrective measures to ensure financial control and address negative budgetary variances.
• Based on proposals brought by leaders in CIB, review opportunities for investment or disinvestment of resources and make capital allocation decisions within mandate.
• Drive the effective identification, funding and resourcing of new change initiatives within the country.

Market Development: Time split 10%
• Play a lead and active role in benchmarking country market and identifying, prioritizing and working with stakeholders to develop the markets
• Own and champion NBC market development initiatives at country levels
• Be a leading, respected voice on country markets, and push NBC force for good agenda in the markets

Maintain a healthy risk profile: Time split 10%
• Drive a culture of proactive compliance and risk management by identifying and taking accountability for the assigned principal risks relevant to the area in terms of the NBC Operational Risk Management framework and ensuring that adequate controls are in place.
• Implement risk and conformance management structures and reporting frameworks to proactively manage business risks and provide an early warning system at an EXCO level.
• Review the risk management and compliance practices of Markets at a country level and highlight areas that require improvement Ensure that they understand their responsibility for risk ownership.
• Present the function’s requirements in key meetings such as the Enterprise Risk Committee and Regulatory Risk Committee.
• Collaborate with the Country and Group Market Risk teams to ensure alignment with the Absa Group market risk control framework (incl. strategy, policies, limits framework, minimum controls and delegations of authority), Country Governance and Risk models.
• Maintain and review the market risk/reward profile, control effectiveness and conformance across the business on a proactive basis.

Governance: Time split 10%
• Safeguard the integrity and reputation of the bank by ensuring that Markets business lines operate within legal and regulatory requirements.
• Scan the environment to understand future challenges in terms of regulatory changes, changes in law etc which will impact the sector and ensure timely escalation to functional leaders and stakeholders to ensure the business is positioned to deal with the expected changes.
• Determine action plans to effectively reduce and manage risk issues related to Internal Audit findings, Management Assurance findings, Compliance issues, SOX requirements and operational risk. Actively drive the completion of actions and review the issue assurance testing conducted on all closed items.
• Interact with the different risk management specialist areas to ensure an understanding of the requirements and that functional policies and processes incorporate all the necessary elements.
• Ensure appropriate escalation and resolutions of all audit and regulatory finds with a full view of all related issues across the region. Monitor timely actions taken to avoid all overdue items across the region.
• Ensure timely and proactive escalations to the ARO Head of Markets and appropriate notification and escalation to local and regional CIB regulator steercos of identified or potential regulator issues or findings.
• Build Relationships with Regulators and identify any areas for improvement.
• Provide supervisory oversight to ensure rules (codes of conduct, circulars, legislation, etc) of exchanges, regulators and global bodies of best practice are adhered to with the assistance of the Front Office Risk and Control Group.

Leadership: Time split 10%
• Design appropriate structures to deliver the desired results and acquire and retain the right talent.
• Influence and maintain an engaging and high performing Markets culture that is conducive to attracting, motivating and retaining a diverse group of talented employees at all levels.
• In partnership with relevant matrix stakeholders manage the performance, recruitment, remuneration, development, mobility, succession and career development of the team.
• Creating a motivating environment for Markets talent across the region. To both attract and retain the best.
• Drive the develop and growth of all direct reports. Provide guidance and steer on all aspect of team and business leadership as well as local stakeholder management. Consistently coach and engage the team directly and through identified training interventions to support their leadership development as well as effective and optimal leadership of their respective teams.
• Set Objectives and actively manage performance and own annual reviews for all direct reports
• Drive the digital agenda embedding the active use of data analytics and insights to inform business decisions and execution
• Monitor and review trader and sales team performance and approves activities concerned with the execution of trading and sales strategies.
• Many products carry term risks into the future post trade execution; these Regulatory, Credit, Market, Operational, Reputational and conduct risk require specialist skills to be managed through sufficient redundancy of employments and minimizing key-man risks.

Risk and Control objective
Ensure that all activities and duties are carried out in full compliance with regulatory requirements, Enterprise-Wide Risk Management Framework and internal Policies and Policy Standards.
Understand and manage risks and risk events (incidents) relevant to the role.

Role/person specification
Preferred Qualification
• Post-graduate degree in Commerce or Finance.
• ACI Dealing Certificate

Preferred Experience
Minimum of 10 years of Financial/Capital Markets experience in Sales and Trading within a large multinational bank and 3-5 years of experience in a similar role

Knowledge and Skills
• Strong commercial acumen.
• Extensive understanding of the local and global economy including:
• Economic policies and practices
• Regulatory landscape including Central Bank policies
• Key commercial sectors and critical success factors for these sectors
• Understanding of interest rate, foreign exchange, credit risk
• Understanding of the policies, ethical issues of Sales and Trading
• Knowledge of Markets products and back-office operations
• Understanding of political and economic activity worldwide
• Demonstrable knowledge of Global Markets products and experience covering clients at a Senior Level.
• Extensive regulatory, risk and financial management experience.
• A track-record of leading large high performing teams.

Behavioural Competencies
• Business Awareness
• Strong ability to manage relationships
• Ability to work in a dealing room environment
• Innovative
• Be able to use own initiative and take decisions with authority and confidence
• Have a high ethical and moral code
• Highly professional
• Show effective marketing and influencing skills
• Be a first-class communicator.
• A high level of self-direction is expected at this level
• A total commitment to sales and customer orientation
• Frequent need to work outside of normal working hours
• Assisting in the management of customer bank relationships across different business lines

Technical Competencies
• Understanding of business disciplines
• A full understanding of the policies, processes and ethical issues surrounding Markets business.
• Working knowledge of capital markets products.
• In-depth knowledge of Market products, services and strategies and back-office operations
• General knowledge of other bank products in particular trade and structured trade finance, merchant banking products and structures (including project and structured finance, and tax driven structures)
• Sound understanding of bank balance sheet and income statement analysis
• Effective leadership style with passion and commitment
• Understanding of financial risk management strategies and tools
• Stakeholder/customer relationship management
• Negotiation skills
• Risk management
• Change management

Technical Competencies
• Understanding of business disciplines
• A full understanding of the policies, processes and ethical issues surrounding Markets business.
• Working knowledge of capital markets products.
• In-depth knowledge of Market products, services and strategies and back-office operations
• General knowledge of other bank products in particular trade and structured trade finance, merchant banking products and structures (including project and structured finance, and tax driven structures)
• Sound understanding of bank balance sheet and income statement analysis
• Effective leadership style with passion and commitment
• Understanding of financial risk management strategies and tools
• Stakeholder/customer relationship management
• Negotiation skills
• Risk management
• Change management

Qualifications
Bachelors Degree and Professional Qualifications

Work Hours: 8

Experience in Months: 24

Level of Education: Bachelor Degree

Job application procedure
Interested applicants Click here to apply

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