Head of FX Trading

Ebeneexecutive

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Quick Summary

Overview

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,

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OtherHead

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.

My Career Development Portal: Wherever you are in your career, we are here for you. Design your future. Discover leading-edge guidance, tools and support to unlock your potential. You are Absa. You are possibility.

Job Summary

The Head of FX Trading is responsible for leading the Foreign Exchange Trading Activities business, delivering sustainable revenue growth whilst maintaining strong risk and controlling environment. The role is accountable for managing the FX trading Book, market risk, liquidity, pricing, execution, regulatory, compliance and developing trading strategies aligned with the bank's overall Global Markets strategy. The incumbent is expected to support client franchise growth, mentor traders, and contribute to the overall leadership of Global Markets.

Deliver annual FX trading revenue and profitability targets;
Lead and grow ASBA Mauritius domestic and regional FX franchise by enhancing market share and price competitiveness.
Manage the FX trading portfolio within the bank's approved Risk appetite, ensure optimal utilization of market risk limits whilst preserving capital
Identify and execute profitable trading opportunities across G 10 and African FX Markets to maximise sustainable risk adjusted returns;
Develop new revenue opportunities through product innovation, pricing capabilities and support in growing the client franchise;
Develop tactical and strategic trading views and identify opportunities arising from global market developments;
Formulate market positioning based on macro economic analysis;
Lead daily market strategy discussions and continuously review trading performance and trade effectiveness;
Lead and develop the FX Trading team and foster collaboration across Sales, Structuring, Treasury, PCG and Risk;
Partner with Sales and CIB Coverage team and support large and complex client transactions;
Provide market colour and strategic insights to key clients;
Ensure adherence to all internal policies and regulatory requirements;
Maintain robust first line risk ownership;
Share actionable market insights with senior management and assess market liquidity conditions;
Champion a culture of integrity, prudent risk taking, accountability and high performance across the FX trading Function.

Key Skills & Competencies

The successful candidate should demonstrate leadership, commercial acumen and strategic thinking with a proven track record of delivering sustainable trading revenue and risk adjusted returns.
The individual should have strong leadership capabilities, sound judgement, excellent stakeholder management skills and ability to build and lead a high performing trading team while maintaining highest standard of governance, conduct and risk management.

Requirements

~1 min read

Bachelor Degree in Finance , Economics, Mathematics or related field
Master degree, MBA or CFA professional qualification would be an advantage
ACI dealing Certificate preferred

Nice to Have

~1 min read

Minimum of 10 years in Global Markets with a minimum of 5 years on the FX trading desk.
Proven experience in market making and market risk management.
Strong experience trading G10 and domestic FX market.
Proven track record of delivering sustainable trading revenue while maintaining a robust risk and control environment.
Strong understanding of macroeconomic trends, monetary policy and their impact on the Global Markets.

Education