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Manager: Treasury Management & Trading

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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.

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Job Summary

To be accountable for the Treasury Execution and Investment functions, focusing on executing all Funding (both foreign currency accounts, Local currency clearing accounts at Central Bank, cash and any other inter-bank or Central Bank account funding at such a time as determined by market or central Bank) and investment needs of the Bank and the day-to-day management of the Market, Liquidity and Credit Risks that lie within the Treasury Execution Portfolio.

Job Description

Funding Curve/Book Ownership and Structure

Develop local currency funding curves based on market factors and internal balance sheet structure.
Drive strategy on local versus hard currency funding in the Bank and act as review and challenge for business.
Set-up Treasury Funding Execution books and Treasury Execution Services (TES) Investment books and ensure full ownership of trades, bookings, P&L and Risk.
Ensure any global changes in pricing of curves, hierarchy set-ups, or trade execution bookings are implemented in a timely manner.
Develop and implement liquidity term premiums in local currency and ensure that these premiums are embedded in the FTP process in order to incentivize the correct behavior based on the balance sheet structure.
Interact with business (Corporate, Business Banking and Retail) to ensure funding curve is appropriate for business strategy and provide training to business on funding curve construction.
Cash flow management reports where applicable and daily and long-term view cash flow projections.
Direct Dealing and Large deals management in liaison with Business Functions and establishing relationships with large fund providers.

TES Risk Management

Liaise with Treasury Analyst and Head of BSM to ensure that all relevant businesses are transfer priced according to the Transfer Pricing policy in a consistent, transparent and fair manner
Ensure all the resultant risks, quantified above, are well understood and ensure the Funding Curve is set taking the above business risks into account
Develop strategies to reduce the balance sheets risks created in the normal course of banking business together with ALM, achieve these strategies by incentivizing business and by advising on products to be rolled out in the Retail, Commercial and Wholesale market
Represent TES on country / regional ALCOs as necessary do provide feedback on net risk positions and resultant Funding curve incentives
Provide country insight into stress testing and work with Treasury Head of BSM to highlight jurisdiction / country specific issues
Work with business on trades, to ensure compliance with liquidity regulations, whilst ensuring the best commercial outcome
Work with Finance to implement hedge accounting solutions to better enable economic hedging of liquidity, whilst minimizing MtM accounting volatility, including hedging of Country FX risk in the Banking Book
Take Full ownership of TES risk positions, P&L generated and actively manage both.

TES Reporting

Daily circulating of Yield curve to the business
Weekly liquidity conditions update (Daily in times of stress), including risk metrics
Monthly balance sheet updates on key liquidity and market risk metrics
Local Currency Funding curves presented monthly at ALCO’s
P&L explanations of TES book and ownership of the flash process
Desk level risk reports.
Explain DVar in relation to TES positions

Financing for the Firm

Create wholesale funding franchise in Local Currency
Establish customer base and work with Sales/Business Functions to originate funding
Publish Fixed and Floating deposit screens to attract deposits and work with clients to ensure smooth process of daily funding execution
Work with regulators and other interbank participants to develop the Money Market in country
When required, work with DCM to issue senior debt in country

Long term funding:

Coordinating with the local team the issuance of (where appropriate):
- Unsecured funding (senior and subordinated capital)
- Secured funding (securitization)
Managing the bond maturity (refinance) profile
Identifying new funding sources and diversification opportunities
Managing Investor relations & debt related investor enquiries

Key actions to include:

Participating in the Treasury Investment Committee

Managing Surplus Liquidity and Liquidity Buffers to optimise risk / return
Investment of Liquid Assets to meet regulatory requirements and serve as a hedge for structural balance sheet positions
Formulating and implementing efficient asset/tenor allocation strategies by staying close to the market and enhancing value for the firm
Enhancing portfolio yield relative to benchmark hedges provided by business within Market Risk guidelines
Compiling and distributing detailed MI on portfolio composition and performance and drivers of performance

Investments

Key actions to include:

Participating in the Treasury Investment Committee
Ensure optimal portfolio returns within investment committee mandates and strategy (liquidity first objective, IRR management second objective, optimization third objective in order of priority);

Managing Surplus Liquidity and Liquidity Buffers to optimise risk / return
Investment of Liquid Assets to meet regulatory requirements and serve as a hedge for structural balance sheet positions
Formulating and implementing efficient asset/tenor allocation strategies by staying close to the market and enhancing value for the firm
Enhancing portfolio yield relative to benchmark hedges provided by business within Market Risk guidelines
Compiling and distributing detailed MI on portfolio composition and performance and drivers of performance

Risk & Control/ Risk Management

Interest Rate Risk in the Banking Book (IRRBB) management-

Ensure that the bank’s investments are managed within IRRBB limits.
Conduct a monthly investment Committee and ensure that:
Ensure investment committee pack is done timely and minutes signed
Ensure Investment decisions are made in line with the committee’s mandate and Terms of reference.
Explain IRRBB and EV in relation to TES positions

Table the Investment Committee minutes at Alco for approval;

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

Specifically on Regulatory Compliance

Ensure compliance with Central Bank reserve requirements for both local and foreign currency
Ensure compliance with Central Bank Core Liquid Asset requirements
Ensure compliance with Central Bank Offshore placement limits.
Ensure the Monetary Policy rate changes are advised to IT for changes as soon as Central Bank communication is received

Education

Bachelor`s Degrees and Advanced Diplomas: Business, Commerce and Management Studies (Required)

Average salary estimate

$75000 / YEARLY (est.)

min

max

$60000K

$90000K

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What You Should Know About Manager: Treasury Management & Trading, Absa

At Absa, we believe in empowering Africa’s tomorrow together, and as the Manager of Treasury Management & Trading, you will play a crucial role in shaping our future. Nestled in the heart of Absa House Head Office, this position is all about overseeing the Treasury Execution and Investment functions. Your responsibilities will include managing our funding needs, including local and foreign currency accounts, and developing funding strategies based on market conditions and internal structures. It's an exciting opportunity to design funding curves and interact closely with various business segments, ensuring the funding strategy aligns with our core objectives. You will also take the lead in hunting for new funding sources, managing cash flow reports, and steering the risk management strategies associated with our Treasury Execution Portfolio. With your expertise, you’ll ensure compliance with regulatory standards while optimizing our balance sheet risks. This role not only requires strategic thinking but also a proactive approach to building relationships with business functions and investors alike. If you’re passionate about the financial landscape and are committed to driving growth and innovation, this is the place to be. At Absa, you are not just a number; you are a key player in our journey towards a prosperous African economy.

Frequently Asked Questions (FAQs) for Manager: Treasury Management & Trading Role at Absa

What are the main responsibilities of the Manager: Treasury Management & Trading at Absa?

As the Manager: Treasury Management & Trading at Absa, your primary responsibilities will include overseeing the Treasury Execution and Investment functions, managing local and foreign currency funding, developing funding strategies, and ensuring compliance with regulatory requirements. You'll be involved in risk management, optimizing the balance sheet, and working closely with various business functions and investors to maximize our financial potential.