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Afreximbank: Manager, Treasury & Markets (Treasury Client Solutions) – Cairo, Egypt
June 22, 2021
CA Global Headhunters has been retained by the Afreximbank based in Cairo, Egypt to recruit for this position. For more information on the Afreximbank please visit their website www.afreximbank.com. Should you meet the minimum requirements and wish to apply for the position please apply directly to CA Global Headhunters.
Reference Number: LEEBLR028
- The nature and scope of this role is to support the Treasurer in running, growing, and consolidating the Bank’s treasury client solutions desk; The incumbent will support the Treasurer and take a championship role in ensuring that the treasury clients solutions business grows and consolidates into a stable income generating function with the wider Treasury and Markets department;
- The role will play a critical role in ensuring that the Bank’s treasury objectives, among others, of adding value to the Bank’s core mandate activities. Also, the incumbent will play a critical role in the Bank’s financial risk management activities;
- In addition, this role supports the Treasurer in the day-to-day administration of the Department thereby ensuring that the Department meets its objectives and set targets;
Treasury Client Solutions Business Pipeline Development
- Work with the Client Relations department to assess the potential for the client Hedging Solutions business within the pipeline asset book;
- Develop a business plan for the Clients Solutions Desk and update same as and when required;
- Develop a transaction execution strategy for the pipeline business with a clear detailed execution plan;
- Review the current Bank’s asset book to identify clients that will require hedging solutions and establish overall business potential, in consultation with Client Relations department;
- Identify potential clients and expected business volumes working with relevant departments;
- Develop a business plan including financial performance prospects and the requisite timeframe for the investment payback period. The business plan should include SWOT analysis, value proposition and proof of concept;
- Make necessary recommendations, based on the business plan and financial performance plan.
Functional Processes and Systems Design, Resources Planning and Deal Structuring
- Designing plausible derivatives hedging structures in line with the Bank’s risk
- tolerance levels;
- Documenting the processes and procedures that will guide the operation of the desk;
- Developing a detailed risk management framework for the desk in line with the Bank’s enterprise risk management framework;
- Developing a workable timetable with clear outline of activities and timelines spanning a full financial reporting period.
- Develop a business case for a suitable system, make recommendations and seek approvals from Senior Management and relevant committees. With the assistance of the Information Technology Unit, develop and send an RFP to identified systems vendors and assist with the selection of the relevant system.
Treasury Risk Management
- Identifying, documenting, and analysing all treasury financial risks and log them into the risk register maintained by Treasury Middle Office desk;
- Developing proposals for hedging the Bank’s treasury/financial risks in collaboration with the Treasury Middle Office desk;
- Executing treasury hedging deals used to cover the Bank’s identified financial risks;
- Work with Treasury Middle Office on valuation and reporting of all financial hedging positions of the Bank.
Treasury Client Solutions Business Development Process
- Work with the Bank’s Client Relations department to develop a workable execution plan for enrolling new clients that will form the portfolio of the desk;
- Engage with existing clients of the Bank that require Treasury solutions;
- Develop and provide treasury solutions as required by the clients;
- Develop marketing material that will be distributed by relevant departments within the Bank, in particular Client Relations;
- Train, where necessary, Treasury staff who will support the TCS desk once set up is complete;
- Draft TCS desk activities and the respective job descriptions for the required human resources. If need be, assist Senior Management in the recruitment of relevant staffing resources for the desk;
Materializing Foreign Exchange and Interest Rate Management and Similar Value-Add Opportunities
- Offer foreign exchange and interest rates hedging capabilities to the Bank’s Clients;
- Deliver innovative derivative solutions for the Bank’s clients in line with the Bank’s
- Risk management policies with the main aim of helping clients manage their exposure to market factors while at the same time generating cross sell revenues for the Bank;
- Assist the Bank in assessing feasibility of an electronic platform which will be used as a risk management platform for the Bank’s clients in order to complement the Bank’s unmatched African footprint and thereafter assist the Bank in selecting vendors who can provide the same – whether off the shelf or customized;
- Develop the capability to identify opportunities in the FX markets with a view to optimize revenue from client’s different currency needs (i.e. local currency and hard currency);
- Aggressively drive hedging solutions business by building an initial portfolio of client base including retention of sales.
Treasury Projects Initiatives
- Assisting the Treasurer to plan/budget and execute new treasury client solutions projects; and
- Assisting the Treasurer to champion treasury client solutions projects undertaken by the department thereby ensuring that such projects are delivered in time and within set budgets.
Market Intelligence and Reporting
- Develop and present reports on market developments, outlook, and strategy to the Treasury & Markets Department monthly report;
- Weekly and monthly dashboard on P&L flash and D-VaR to the Treasurer;
- Responding to information requests from the business development experts, the Treasurer, Senior Management, and the rest of the Bank;
- Attend all treasury related meetings with the Treasurer or at the discretion of the Treasurer; and
- Champion the reconciliation of financial instruments valuations, commentary on same at departmental level as well as at bank-wide level;
- Produce detailed monthly treasury client solutions desk activities report.
Treasury Financial Policies
- Contribute to the formulation and review of the Bank’s financial policies by making appropriate policy recommendations to Senior Management, the Board, and the Asset Liability Management Committee;
- Participate in the review of other financial policies including borrowing and currency management policies; and
- Help the Treasurer to ensure that Process and Procedure Manuals of the Department are up to date by supervising their periodic review.
Treasury Resource Planning and Budgetary Management
- Fully participate in the Treasury’s annual and periodic planning and budgetary processes;
- Ensure that Treasury Client Solutions function’s performance reviews are conducted in accordance with the Treasury & Markets department and the Bank’s Human Resource calendars;
- Develop a full plan and budget of the Treasury Client Solutions desk activities and targets to be incorporated into the wider Treasury & Markets Department budget;
- Develop a detailed month-by-month activities plan of the treasury clients solutions desk’
- Ensure business continuity by designating adequate back-ups for the Department’s activities by ensuring that all relevant documents are both electronically and physically filed where required;
- Mentor junior staff in the Department.
- Any other duties that may be assigned to the role holder by Senior Management from time to time.
Requirements: Qualification and Skill
- A first degree in a relevant discipline i.e. accounting, financial management, economics, numerical or other related disciplines and a postgraduate degree in a relevant field. Recognised professional certification in a relevant field may be acceptable in lieu of a post graduate degree;
- Master’s degree in area of Finance, Economics, Accountancy or MBA with a specialisation in Finance or Mathematical Sciences with a speciality in Financial Mathematics;
- Recognised Professional Qualification in Treasury [Actuarial Professional or Financial Mathematics Professional or MCT/AMCT or CTP (US) or Accounting (ACCA, CIMA, CPA or Equivalent) will be a strong added advantage;
- Excellent knowledge of accounting for treasury activities i.e. International Financial Reporting Standards (IFRS);
- A minimum of 8 years of experience working in a treasury function either in a corporate institution, preferably in the financial services industry;
- Solid grounding in financial systems database methodologies and financial modelling;
- Solid experience in working with Treasury Management Systems;
- Operational experience in a financial department with significant systems exposure;
- Previous experience in a treasury environment and solid understanding of treasury operations;
- People and project management;
- Knowledge of treasury, debt capital markets, financial instruments, and structures;
- Advanced Excel skills and computer literacy (e.g. SQL, Crystal Reports);
- Excellent verbal and written communication skills in English. Knowledge of the Bank's other working languages is an added advantage (French, Arabic and Portuguese); and
- Demonstrated leadership capabilities, including ability to organize and manage human resources from varied cultural backgrounds to attain goals.
- Willing and able to relocate to Cairo.
- Suitably qualified candidates from all African nationalities are encouraged to apply.
Closing date: 9th July 2021
To apply directly, please send your CV to Lise Kotze at Lkotze@caglobalint.com
Please note that only shortlisted candidates will be contacted.
CA Global | Lkotze@caglobalint.com