Forex Trader (1 Position)

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Forex Trader (1 Position)

Reporting to: Head Global Financial Markets

Reporting to the Head Global Financial Markets, the Forex Trader will be responsible for executing FX trades on behalf of the bank and its clients, managing trading positions within approved risk limits, and contributing to the bank’s profitability through market-making and proprietary trading. The role requires a deep understanding of FX markets, economic indicators, and risk management principles and involves liaising with mostly inter-bank counterparties, analysing data, making quick fire decisions, and finalising trades over appropriate systems. Capturing and completing all trades into the bank’s core banking system. Keep track of deals made, gains and losses.

Duty station: Head Office

KEY ACCOUNTABILITIES:

Quoting prices to other interbank market participants and central bank as and when requested within approved set limits
Attain set trading revenue targets.
Daily maintenance of the banks foreign exchange blotter ensuring all major trades are captured.
Management of foreign exchange risk, with a view of avoiding or minimizing loss resulting from high risk exposures by ensuring that all trades and positions are within approved limits
Liaising closely with the sales staff and brokers
Determine market sentiments via research valuation and data analysis. Maintain close counteparty and supervisory relationships
Provide key parties with daily trading information
Keep the sales team abreast with market movements or prices plus major developments while providing support on client flows and hedging solutions
Collect client sentiments and views plus market intelligence from the sales team
Adherence to proper conduct and professional behavior
Follow the prescribed procedures when dealing and adhere to the ACI code of conduct.
Keep up to date with current global developments, including economical & political
Assemble, disseminate and distribute economic news
Monitor global macroeconomic and geopolitical developments and assess their impact on currency markets.
Generate trading ideas and strategies based on technical and fundamental analysis.

KNOWLEDGE, SKILLS AND EXPERIENCE REQUIRED:

Business /finance/ Economics related Degree.
ACI dealing certificate A reasonable knowledge of treasury and general banking products .
At least 4 years’ experience in Banking of which two years should be in Financial Markets.
Sound working knowledge of Financial Markets.
Strong analytical skills.
Mathematically inclined.
Willingness to take measured risks.
Proficiency for evaluating market conditions and responding quickly, proactively and positively.
Broad knowledge of banking practices and local banking regulation.
Broad knowledge of ALCO management.
A good appreciation and knowledge of Risk Management, covering Operational Risk, Market Risk, Counterparty Risk and Credit Risk.
Good analytical and decision-making skills.
Ability to manage and motivate staff.
Ability to work in a matrix organization.