Markets Sales: Institutional and Structuring
Apply locations: Absa House - ABT
Time type: Full time
Posted on: Posted 2 Days Ago
Time left to apply: End Date: December 4, 2024 (2 days left to apply)
Job requisition id: R-15969911
Empowering Africa's tomorrow, together…one story at a time.
With over 100 years of rich history and strongly positioned as a local bank with regional and international expertise, a career with our family offers the opportunity to be part of this exciting growth journey, to reset our future and shape our destiny as a proudly African group.
Job Summary
Financial Institutions/Fixed Income & Forex Sales:
To promote and drive Absa Tanzania's business agenda for institutional clients through increased income contribution from this market segment through excellent customer service to position the bank favourably to the clients in scope.
Focus areas to include: Structured products to all commercial banks, vanilla and non-vanilla products to Micro finance banks not on Reuters, Non-bank Financial Institutions, developmental organs and local and regional institutional clients like pension funds excluding fixed income.
To manage and sustain a portfolio of customer relationships drawn from the non-bank financial institutions and non-Primary Dealing banks segments, developing and building long-term relationships founded on trust, efficient and reliable customer service support.
Meet FI Sales targets (fixed income and FX).
The jobholder will be responsible for business development to win new customers and sustain existing customers within the portfolio.
Support the Head in the management and development of the FI Sales function.
Job Description
Main accountabilities and approximate time split
Accountability: Sales and Service – 60%
Promote the expansion and penetration of FI Sales business to focused target clients and expand the customers' base.
Meet the volume and profitability targets set for Institutional Sales.
Contribute to the fashioning of annual other periodic Markets Strategies.
Any other duties that will be assigned by the Head of Markets Sales from time to time.
Business development via visits/roadshow, telephone and email outreach to promote ABSA as the go-to bank for Financial Institutions' Fixed Income, derivatives and Forex needs.
Actively explore for and on-board new FI's and pursue execution of ISDA and CSAs with bank counterparties.
Explore opportunities for secondary market fixed income dealing with clients as agreed.
Prospect and execute primary bond auction bids.
Research, create and follow up on a target list for potential new business.
Identify and offer structured products to this customer base.
Accountability: Risk Management– 40%
Ensure personal compliance with all market risk requirements.
Ensure trades are booked into Front Arena and CDS platforms timeously and accurately.
Support the function and ensure that the weekly primary auction bidding process is completed accurately.
Offer structured products that are approved via NAPA process.
Initiate NAPA for new products that are needed by clients in the market.
Ensure certain trades are approved by pre-deal committee at group level before execution.
Ensure PFEs and Debt Financing Limits are approved before execution of trades.
Role / Person Specification
Education and Experience Required
Degree to honors level, post graduate qualification preferred.
Basic level ACI certification.
A working knowledge of capital markets products.
4 years banking experience, at least 1 of which should preferably have been in sales or trading in a Markets environment; effective sales and trading ability with good track record.
Sound understanding of business analysis and markets analysis.
A working knowledge of capital markets derivatives products.
Knowledge & Skills: (Maximum of 6)
Strong understanding of CIB business; in-depth knowledge of Markets products, services and strategies and Middle office and Back-office operations.
Understanding of ABSA Bank of Tanzania strategies and objectives.
Good understanding of external business, legal and regulatory environment, and impact.
Knowledge of strategies and products of financial competitors in the market.
Understanding of economic environment in Tanzania.
Full understanding of the policies, processes and ethical issues surrounding Markets Business.
Competencies: (Maximum of 7 competencies)
Strong selling and communication skills, and ability to manage relationships.
Ability to interact and negotiate effectively with highly sophisticated counterparties.
Effective strategy formulation and influencing skills.
Be able to use own initiative and take decisions with confidence.
Team skills.
Ability to work in a dealing room environment.
Have a high ethical and moral code, and behave professionally at all times.
Exceptional Aspects of the Role
A high level of self-direction is expected at this level.
A total commitment to sales and customer orientation.
Frequent need to work outside the normal working hours.
Assisting in the management of customer bank relationships across different lines.
The role is expected to be increasingly risk oriented with an increasingly dynamic market presence.
Absa Values
Trust
Resourceful
Stewardship
Inclusion
Courage
Education
Bachelors Degree and Professional Qualifications: Business, Commerce and Management Studies (Required)
About Us
Truly African
We are a diversified standalone African financial services group, delivering an integrated set of products and services across personal and business banking, corporate and investment banking, wealth, investment management and insurance.
Absa Group Limited is listed on the JSE and is one of Africa's largest diversified financial services groups with a presence in 12 countries across the continent and around 41,000 employees.
We own majority stakes in banks in Botswana, Ghana, Kenya, Mauritius, Mozambique, the Seychelles, South Africa, Tanzania (ABSA Bank in Tanzania and National Bank of Commerce), Uganda, and Zambia. We also have offices in China, Namibia, Nigeria, the United Kingdom and the United States of America, a Technology Hub in Prague, and insurance operations in Botswana, Kenya, Mozambique, South Africa, Tanzania and Zambia.
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