Market Risk Manager at ABSA | June 2024

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Job Summary

Ensure all activities and duties are carried out in full compliance with regulatory requirements (home and host), Enterprise Wide Risk Management Framework and internal Absa Bank Tanzania Markets and Treasury Risk Policies, framework and Standards. Understand and manage risks and risk events (incidents) in CIB Business and Treasury Function

Job Description

Main accountabilities and approximate time split

Risk Management 60%

• Where required, lead on development and maintenance of country specific Liquidity Risk, Capital risk, Market Risk Frameworks and Policy.  Assist on Liquidity Standards development by Treasury. 
• Review and recommend (if appropriate) improvements Liquidity, Capital and Market Risk Standards and other documents to Treasury Risk KRO, in-country CRO and Treasury management; Aim being to provide innovative solutions.
• Provide updates to regulators and respond to inquiries into company’s capital risk, liquidity risk and market risk functions following appropriate governance.
• Continuously update detailed awareness of Treasury and Market Risk related issues and changes across relevant business areas;
• Provide assurance on compliance with the Capital Risk, Liquidity Risk and Market Risk Frameworks and policies to the in-country CRO, AGL Treasury Risk and Market Risk KRO and provide value-adding recommendations to the Treasury/Market Risk senior management team to ensure that activities are controlled but also that processes are efficient.
• Review and recommend proposals for limit changes/new metrics to CRO and AGL KROs;
• Provide advice to the in-country Treasury and Global Markets team regarding local issues from the review such as local regulatory requirements.
• Report on and monitor market risk exposures against predefined limits on a daily and timely basis
• Regular review of Treasury Risk and Market risk policies, standards and frameworks and ensure all are subject to Governance approvals including the Board as deemed appropriate.
• Investigate Market Risk PV and completeness of reconciliations and resolve exceptions on a daily basis.
•  Investigate and resolve back-testing market risk exceptions daily.
• Review and sign off, where required, on risk metrics daily.
• Report on and monitor exposures against predefined limits on a daily basis. Build an understanding of capital requirements and the drivers thereof to provide business with insight to make trading / hedging decisions.
• Participate in new product / business developments, significant change processes and complex trade reviews by performing risk assessment and stress testing.
• Review and challenge Treasury attestations including stress testing and Risk appetite
• Support and provide guidance to Treasury and Global Market’s team in the implementation of frameworks and policies.

Other Risk Support plus Relationship Management (30%)

• Represent the Risk team, for example our approach to managing Treasury risk– from time to time, this includes calls or meetings with Centre Risk colleagues, or internal/external auditors.
• Provide support on other technical activities of the treasury and Markets team as required.
• Provide expertise on Capital and Liquidity risk and input to key Group initiatives
• Liaise with key stakeholders including AGL Treasurers (VP/D level) and other functions
• Develop a wide network of contacts across Risk and the business to identify and work towards common goals.
• Know our clients/customers and understand how the conformance team’s work benefits them
• Proactively take on additional tasks as requested by the CRO.
• Make sure our colleagues in the business are equipped to be able to protect our reputation at all times.
• Understand and adhere to the appropriate Absa Bank Policies and Standards applicable to the role.
• Understand and manage risks and risk events (incidents) in the role thereby contributing to the adherence to the Absa Bank Tanzania Risk and Control Framework. Complete all mandatory training as required.

• Drive Risk Data Aggregation and Risk Reporting responsibilities pertaining to Treasury Risk and Market Risk as a process and Data Steward. Attend Data Working Group and conducting RDARR reviews and self-assessment to ensure full compliance with RDARR principles

Risk and Controls Objectives

Ensure that all activities and duties are carried out in full compliance with regulatory requirements, Absa Operational Risk Framework and internal Absa Policies and Standards

Manage risk and control effectively by applying applicable risk frameworks and embedding a positive risk culture

• Understanding of own role in the end-to-end processes in which you play a part, including applicable risks and controls.
• Adhere to Absa’s policies and procedures applicable to own role, demonstrating sound judgement and responsible risk management.
• Report all risk events / incidents / issues using the defined process for your business area and help to understand why these happened and how to prevent them in future.
• Proactively look for ways to improve the control environment by considering what could go wrong in the processes you operate and how errors could be prevented.
• Continuous and proactive engagement with regulatory bodies, unions where applicable
• All mandatory training completed to deadline

Technical skills / Competencies

Education and Experience Required

• Minimum Bachelor’s degree in Statistics, Mathematics, Risk Management, Econometrics, Economics or Accounting with at least 3 years of Risk and or Treasury related experience
• A clear understanding of Liquidity Risk, Capital Risk and Market Risk.  A broad knowledge gained in the Treasury, Risk or Audit team of a bank
• Practical risk management experience in Treasury is preferred
• A good  understanding of bank products and their inherent risks for clients and the Bank
• Good understanding of current and future regulatory environment and ability to translate that into requirements for risk frameworks and individual businesses.

Knowledge & Skills (Maximum of 6):

• Excellent negotiation skills, ability to use this in presentations to very senior stakeholders
• Ability to manage a relationship with staff at all levels and to agree the recommendations with senior management.
• Very good understanding of macro-economics
• Very good understanding of reputational and its impacts
• Good understanding of operational and compliance risks

Competencies (Maximum of 8 competencies):

• Analytical mind, capable of collecting and assessing multiple risk information from diverse
• Excellent interpersonal, persuasion and communication skills, both written and oral.
• Deciding and initiating action
• Learning and researching
• Entrepreneurial and commercial thinking
• Relating and networking
• Adapting and responding to change
• Creating and innovating

Absa Values

Absa’s  Values and Behaviours represent the set of standards which governs the actions of all of us who work for the bank and against which the performance of every one of us in Absa are being assessed and rewarded:

• Trust
• Resourceful
• Stewardship
• Inclusive
• Courage

Education

Higher Diplomas: Business, Commerce and Management Studies (Required)