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Job Title: Market Risk Manager

Job location: Dar es Salaam.

ABSA

 

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Summary of Work:
Make ensuring that every task is completed in accordance with the Enterprise Wide Risk Management Framework, internal Absa Bank Tanzania Markets and Treasury Risk Policies, framework, and Standards, as well as any applicable regulatory obligations (both home and host). Recognize and control risks as well as risk occurrences, or incidents, in the Treasury and Business functions of the CIB.

Job Summary:

Principal responsibilities and approximate time division.

60% of risk management.

• As needed, take the lead in developing and maintaining frameworks and policies for market risk, liquidity risk, and capital risk that are unique to your nation. Assist Treasury in developing Liquidity Standards.
• Examine and suggest changes to Treasury Risk KRO, in-country CRO, and Treasury management about Liquidity, Capital, and Market Risk Standards, among other papers, if applicable.
• The goal is to offer creative solutions.
• Provide regulators with updates and address their questions about the company’s market, liquidity, and capital risk functions while adhering to the proper governance.
• Keep abreast on developments and challenges pertaining to Treasury and Market Risk in all pertinent business domains.
• Assure the in-country CRO, AGL Treasury Risk, and Market Risk KRO of compliance with the frameworks and policies pertaining to capital risk, liquidity risk, and market risk. Additionally, offer value-adding suggestions to the senior management team responsible for Treasury/Market Risk in order to guarantee that not only are activities under control but also that processes are effective.
• Examine and suggest to CRO and AGL KROs any ideas for additional metrics or limit adjustments.
• Give guidance on local concerns from the evaluation, such as local regulatory needs, to the Treasury and Global Markets team stationed in the country.
• Daily and timely reports on and monitoring of market risk exposures against predetermined limitations are required.
• A thorough understanding of capital requirements and the factors that influence them will enable businesses to make informed trading and hedging decisions.
• Regularly review Treasury Risk and Market Risk policies, standards, and frameworks and ensure that they are subject to Governance approvals, including the Board as deemed appropriate.
• Investigate Market Risk PV and the completeness of reconciliations and resolve exceptions on a daily basis.
• Investigate and resolve back-testing Market Risk exceptions on a daily basis. Review and sign off, as needed, on risk metrics.
• Report on and monitor exposures against predefined limits on a daily basis.
• Engage in risk assessment and stress testing as part of the development of new products and company ventures, major change procedures, and intricate trade reviews.
• Examine and contest Treasury attestations, taking into account risk appetite and stress testing.
• Assist and advise the Treasury and Global Markets team in putting guidelines and policies into practice.

Relationship management plus additional risk support (30%).

• Represent the risk team by giving examples, such as our approach to Treasury risk management.
• This may involve meetings or phone calls with colleagues in Center Risk or with internal or external auditors.
• As needed, offer assistance with the treasury and markets team’s other technical tasks.
• Provide knowledge of capital and liquidity risk as well as feedback on important group projects.
• Communicate with important parties, such as the AGL Treasurers (VP/D level) and other departments.
• Create a broad network of connections throughout Risk and the company to determine and pursue shared objectives.
• Recognize our customers and clients and the ways in which the work of the compliance team benefits them.
• As asked by the CRO, proactively take up new responsibilities.
• Ensure that our colleagues in the company have the tools necessary to safeguard our reputation at all times.
• Recognize and abide by the relevant Absa Bank policies and standards that are relevant to the position.
• Recognize and control risks as well as risk events, or occurrences, in the work to help ensure that the Absa Bank Tanzania Risk and Control Framework is followed. Finish all essential training as soon as possible.
• As a process and data steward, drive the risk data aggregation and reporting duties related to market and Treasury risk. Participate in the Data Working Group and carry out self-evaluation and RDARR reviews to make sure that RDARR principles are fully followed.

Goals for Risk and Controls:
Make sure that every task is completed in accordance with all legal obligations, the Absa Operational Risk Framework, internal Absa Policies and Standards, and regulatory requirements.

By implementing relevant risk frameworks and fostering a good risk culture, you may effectively manage risk and control.

• Recognizing your personal place in the overall processes you participate in, together with any relevant risks and controls.
• Respect Absa’s rules and procedures that are relevant to your employment while using good judgment and conscientious risk management.
• Use the procedure that has been established for your business sector to report any risk occurrences, incidents, or problems. This will help you determine why these things happened and how to avoid them in the future.
• Consider what can go wrong in the processes you run and how mistakes could be avoided as you proactively search for methods to enhance the control environment.
• Engagement with regulatory bodies and, if appropriate, unions should be ongoing and proactive.
• All required training was finished on time.

Technical proficiency / aptitude:

Requirements for Education and Experience:

• A minimum of three years of experience in risk and/or Treasury-related work is required, along with a bachelor’s degree in accounting, statistics, mathematics, risk management, econometrics, or economics.
• A thorough comprehension of market, capital, and liquidity risk. wide expertise acquired while working in a bank’s audit, risk, or treasury departments.
• It is recommended if you have actual Treasury risk management expertise.
• A thorough awareness of bank products and the hazards associated with them for both the bank and its customers.
• Strong comprehension of the regulatory landscape, both now and in the future, and the capacity to apply that understanding to the needs of specific businesses and risk frameworks.

Knowledge and Abilities (Up to 6):

• Superb negotiating abilities, with the capacity to apply them in talks to extremely influential parties.
• The capacity to oversee relationships with employees at all levels and reach consensus on recommendations with upper management.
• Excellent grasp of macroeconomic principles.
• Excellent comprehension of reputation and its effects.
• Good awareness of the hazards related to operations and compliance.

Competencies (up to a maximum of 8):

• Analytical mind, able to gather and evaluate various risk data from many sources.
• Outstanding communication, persuasion, and interpersonal abilities in both written and conversational forms.
• Making a decision and taking action.
• Studying and doing research.
• Commercial and entrepreneurial ideas.
• Networking and relating.
• Adjusting and reacting to modifications.
• Producing and Inventing.

Values Absa:

The set of principles known as Absa’s Values and Behaviours serves as a guide for those of us who work for the bank and serves as a benchmark for evaluating and rewarding employee performance:

• Trust.
• Encouraging.
• inclusive.
• Stewardly.
• Resourceful.

Education:

• Advanced Diplomas in Management Studies, Business, and Commerce are mandatory.

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