Job Details

Job Description

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Job Summary

This function reports into the Director Global Markets post in country and is one of the three key positions within the Global Markets function. It is a high-level management position requiring a focused and independent approach to achieving best practice criteria in the management of the function whilst maintaining a balanced interaction with the other key area of Global Markets. The incumbent is expected to operate with business flair and actively contribute towards the overall business strategy of Markets. The role is market orientated and will carry responsibility for the proactive management of the Markets Sales function. The role calls for interaction with colleagues from Corporate, Business and Retail Banking in contributing to the bank’s overall business strategy

• Management and development of the Market Sales function.
• Co-ordinate with other countries around regional Market sales activities.
• To become the preferred point of contact both externally and internally for Markets sales activities.
• To become the bridge between the interests of Corporate, Retail, and Business banking and the marketplace for Markets products, strategies and structured solutions.
• Exploring and defining the business opportunities in the Market sales function.

Job Description

Strategy development and execution:

Time split 30%

Outputs:

• Drives and formulates strategy and delivery through formal qualitative and quantitative analytics, problem framing, value chain assessments and market opportunity identification.
• Support Director Global Markets in the delivery of aligned business strategy that takes account of financial performance, Function health [5Cs], balance sheet & risk management and attainment of required goals and objectives.
• Advise the Director Global Markets on on-going issues and programmes to address these in the business unit and set up a process for monitoring.
• Continuously monitor the overall Business Performance (Finance, Risk, Compliance, Change, HR) of the business unit and advise the Director Global Markets of any possible deviations and the actions that have been created to address these.
• Conduct ongoing assessments of market and competitive landscape e.g. mergers, top competitors, identification of clear water/white space opportunities and seizing them to determine suitability for the business to venture in.
• Continuously monitor the potential impact of new tactical plans on the reputation risk of the department and the Bank, and advise Director Global Markets on appropriate action to take to minimise the risk
• Responsible for strategic planning and financial analysis of Market Sales Projects.
• Develop and drive key strategic activities in the Director Global Markets’ office ensuring overall fit with business strategy in context of overall Africa Markets strategy.
• Deliver insightful recommendations in a persuasive and thoughtful manner.
• Support Director Global Markets to achieve Customer service standards/experience and building Absa Market profile/reputation within the country and sub-region whilst maintaining strong business relationships in and outside Absa.

Research and Market intelligence

Time split: 10%

• Work with MI team on market intelligence gathering tools or forums to ensure that at any one time we have information on technology changes, mergers and acquisition, business capabilities of various competitor banks and any other human intelligence that will aid strategy formulation and implementation.
• Carry out research and analysis on a stand-alone basis or as part of other product or functional teams to provide intelligent information for decision making.
• Be a key source for industry intelligence data across various disciplines including industry evolution analysis and competitive dynamics.
• Ability to take business analytics data and drive this to a logical and relevant conclusion e.g. business proposition with minimal supervision.
• Work with the various strategy work-streams of the bank, especially in relation to the Markets business, to measure and improve strategic initiatives as well as make same available to the Director Global Markets.

Sales and Business Development

Time split: 30%

• Trading with customers directly as required.
• Develop close contacts with both the corporate bank relationship managers and customers.
• Compile an annual Market Sales Business plan and ensure that regular monthly feedback on performance is available.
• Promote the expansion and penetration of Markets business into customers and expand the customer base.
• Meet the various volume profitability targets as set.
• Develop close contact with interbank counterparties and originate dated structured transactions and RMPs.
• Promote the expansion and penetration of CIB Markets and expand the customer base into niche markets e.g. GDOs and Public Sector.
• Meet the various client numbers, product volume and profitability targets
• Play a leading, visible role in the development of the Zambian market.
• Business development. Work to establish new client relationships, grow business on existing lines and introduce new products.
• Chief structurer. Originate big ticket transactions and successfully close them.
• Anticipate market developments and identify client needs and trade opportunities with risk-adjusted superior returns.
• Support ARO Markets and other Absa group networks in the servicing of regional clients and maximise cross selling of bank products in all areas.
• Benchmark the Sales function with a view to maintaining a competitive position in the market.
• Close liaison with the Treasury team regarding mobilisation of wholesale short term funds as required.
• Meet the various volume profitability targets as set.

Compliance

Time split: 15%

• Ensure that Group, ARO policies and procedures and regulatory guidelines set for Markets Sales are strictly adhered to at all times.
• Achieve operational rigour and excellence in all aspects of procedures and processes undertaken to ensure 100% compliance.
• Minimize potential for fraudulent applications by following each product criteria.
• Ensure compliance with operations risk & rigour requirements e.g. Health & Safety standards and security of premises.
• Participate in internal and external audits and maintain necessary documentation for compliance purposes.

Risk Management: – (10%)

Accountability: Product Governance and Risk Management

• Drive the annual planning and review of the desk’s STP, RAF and MTP budgets.

• Ensure sales and products distributed leave no Traded Market risk in client portfolios.

• Ensure new product approval governance and related policies are strictly adhered to.

• Meet all periodic reporting requirements.

• Maintain constant contact with key stakeholders (Trading, Larger Sales Team, PCG, MR) to ensure income is appropriately realised, accrued and risk is managed.

Reporting and Team Management: – (5%)

Reporting:

• Meet all periodic reporting requirements
• Maintain constant contact with key stakeholders (Product Control, Market Risk and Finance) to ensure income is realised and accrued.
• Ensure that all Markets sales staff key responsibilities are met. Oversee the activities of the product management team to ensure effective delivery of product related outcomes.
• Develop a high performing team by embedding formal performance development and informal coaching.
• Determine and analyse development needs for the team and ensure that identified training requirements are budgeted for and executed.
• Approve leave requests for team members and create leave plan to ensure adequate coverage.
• When required, initiate disciplinary processes for team members calling on support from Human Resources when required.
• Resolve grievances lodged by team members and escalate only if required.
• Address poor performance of any team member through the formal performance management channels and ensure that continued poor performance is appropriately dealt with.
• Motivate team members and ensure that their efforts are recognised.
• Any other duties that will be assigned from time to time by the Director Global Markets.

Education

Bachelor’s Degree: Business, Commerce and Management Studies (Required)