Job Purpose
Help to develop, drive and deliver the East African Foreign Exchange business plan
Responsible for the management and governance of the strategic agenda for FX Trading.
Work with respective product heads and businesses in supporting SCB’s overall fx strategy
To efficiently manage the Foreign Currency flows of the Bank.
To support the CIB, C&PB and RC businesses in increasing client turnover through a combination of pricing, quality of advise and marketing strategies
The Role Responsibilities
Strategy
Help set the strategic direction of FX Trading East Africa
Help develop FX Trading East Africa specific strategies which maximize shareholder value and are aligned to and in furtherance of the overall strategic direction of Financial Markets
Work with Product Heads to identify the initiatives to grow the FX business in East Africa
Align strategic plan and the shorter term business objectives with the availability of liquidity, capital and credit in line with the liquidity risk management approach for each country in East Africa
Business
Support the implementation of FX Trading East Africa specific strategies and ensure that performance objectives and revenue goals are met and RWA targets managed.
Build stronger and deeper relationships with clients and government regulators by bridging silos across the other Products and Segments.
Enhance the Bank’s image and profile in the regional markets and establish SCB as a “name” player in the respective local debt markets and up-tier SCB’s market presence.
Drive new product migration and implementation as necessary
Utilise Country MIS to drive results.
Together with the regional Head of FX, be accountable for operational Risk losses on the FX Trading East Africa.
Processes
Accountable for maintaining frameworks to ensure FX Trading East Africa business processes are efficient, appropriate and compliant with all internal and external regulations.
Risk Management
Embed operational risk management and reporting as an integral part of the business process.
Ensure that adequate and appropriate systems and controls are in place to comply with Group and Business policies, procedures, standards and codes.
Monitor all major risk issues and concentrations. Where appropriate, direct remedial action.
Ensure strategic execution of Trading Activities remains within the agreed Risk Appetite and Portfolio Standards.
Achieve growth in a safe and well-controlled manner and on an end-to-end basis – incorporating infrastructure requirements and ensure that they are fit-for-growth.
Comply with the requirements of the Group AML Policy and Procedures, in particular-
Comply with local legal and regulatory requirements,
Remain alert to the risk of money laundering and assist in the Bank’ efforts in combating the vice,
Adhere to the key principles of knowing our customers, identification and verification,
Report suspicious activities regarding money laundering and terrorist financing and not to disclose that a report is made – tipping off the customer,
Adhere to Group and Local record retention requirements,
Attend all scheduled training on money laundering and complete related e-learning modules.
Observe the Group Sanctions Policy and support the implementation of prevailing sanctions.
Governance
Promote an environment where compliance with internal control functions and the external regulatory framework is a central priority of the business
Comply with internal policies, procedures, codes and applicable external laws and regulations and adhere to the expected high standards set out in the FM Code of Conduct
Support the implementation of FX Trading East Africa specific strategies and ensure that performance objectives and long term economic profit (EP) goals are met
Engage with all audit report findings, relevant to the FX Trading business in the region and ensure feedback is acted upon.
Key Stakeholders
Internal
East Africa FMMT
Africa Heads, FX, Rates and Credit
GM Heads in Region and GM Head of East Africa
Head of Sales, East Africa
Head of Global banking
Head of Structuring, Africa
Head of Research, Africa
Product and Segment Heads, East Africa
Local traders in East Africa
Heads of East Africa support functions
External
Key clients and potential clients
Local regulators & other government departments
Competitors
Media
Other Financial Services organisations
Relevant trade bodies and associations (e.g. Chambers of Commerce)
Power-Brokers and Policy Influencers
Leaders and Influencers in business, cultural and community activities
Our Ideal Candidate
Experiences in the banking industry and financial markets, including demonstrated success in a similar role.
ACI certification is a must.
The incumbent should posses a sound knowledge of economics and should be able to apply it while interpreting data.
Extensive experience in Dealing. Computer skills are essential.
Must possess sharp business acumen (including ability to assess risk and appropriate levels of return), strong leadership qualities, excellent interpersonal skills and multi cultural awareness and sensitivity
Ability to manage geographically dispersed and highly varied customer and product base
