Repo Trader - Absa Bank

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.

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Job Summary

This role reports to the Head of Trading. The Repo Trader position requires a focused approach to achieving best practice and developing the repurchase agreements (repos) product in Global Markets.

As the Repo Trader, the role holder, in conjunction with the Head of Trading, is responsible for all market-making, risk management, trading strategy formulation and execution relating to repos. Activities undertaken include trade execution, position monitoring, collateral management, reporting, as well as frequent communication with enablement functions such as Post-Trade Services, Product Control, and Treasury.

The role holder is expected to work very closely with the other traders on the desk and across the group and be an all-round fixed income and currencies trader supporting the client franchise to grow, achieving consistent profitability, and providing efficient alternative funding solutions to the trading book.

Job Description

Trading

Time split: 85%

Output:

• Grow turnover and client-numbers, maintaining a market-leading market share and market dominance in repos and the various traded products. Maintain a market-leading repo desk in terms of pricing, execution, and market colour.
• Formulate and execute trading strategies—in line with the overarching Global Markets strategy—to achieve annual product revenue targets and create sustainable returns above cost of equity.
• Provide timely and competitive pricing of traded products to the Sales teams to support the institutional client franchise.
• Foster a strong relationship with market participants and industry regulators.
• Collaborate with internal and external stakeholders to create value and achieve business goals.
• Play a leading role in local market development efforts relating to repos and other short term interest rate products.
• Ensure timely updates of all relevant marks and curves to ensure consistent accuracy in the fair values of financial assets on the bank’s books.
• Manage funding for entire trading desk. Manage the liquidity of fixed-income books.
• Actively market-make all trading desk products as required.
• Independently produce high-quality monthly macro updates, daily market colour, and other ad hoc analyses and research papers.
• Ensure that all documentations are completed on time and to the required standard. Be the custodian of the existing standard master agreements and the agreement negotiation process with new counterparties.

Risk Management

Time Split: 10%

Output:

• Apply the highest standards of controls and risk management practices and behaviours. Sustain a culture of proactive risk awareness and control environment improvement.
• Manage the various risks associated with the trading book (market risk, counterparty risk, operational risk, liquidity risk, etc.)
• Operate within and proactively manage all regulatory and internal trading risk limits (dealer mandate, credit risk, market risk, etc.), recording no breaches.
• Adhere to all regulations and codes of conduct relating to trading activities, recording no regulatory sanctions.
• Adhere to all applicable Absa frameworks, policies, and procedures, demonstrating sound judgement and responsible risk management, and when required, highlight breaches and request dispensations & waivers on a timely basis.

Reporting & Team Support

Time Split: 5%

Output:

• Meet all periodic reporting requirements (regulatory and internal).
• Maintain constant contact with key stakeholders (PCG, PTS, Treasury, CRT, IPV, etc.) to ensure income is appropriately realized and reported.
• Continuously improve efficiency and effectiveness in how tasks and processes are completed on the trading desk.
• Serve as a trusted teammate providing guidance to junior interns and temporal staff.
• Any other duties that will be assigned from time to time by the Head of Trading.

Educational Background & Work Experience

• Degree to honours level
• Any experience in banking and finance preferred

Technical Skills & Competencies

• High analytical capability and demonstrable strength in logical reasoning and critical thinking.
• High curiosity and meticulousness.
• Quick thinker who is not afraid to act decisively. Ability to use own initiative and take decisions with confidence within mandate. Ability to timeously synthesize large amounts of data, draw out and effectively communicate critical insights for decision-making.
• High level of professionalism, ethical and moral code. Advocate for high standards and industry best practice.
• Commercial awareness. Effective and timely strategy formulation and executing.
• Deep understanding of economics and finance principles and markets concepts. Ability to independently conduct research to produce high-quality market colour.
• First-class verbal and written communication; ability to interact with highly sophisticated investors/traders, as well as high-value clients and bank executives.
• Digitally literate, possessing curiosity and comfortable with early adoption.
• High learning agility. Embracer of change. Open-minded to new information and pivoting when necessary.
• Team-oriented and innovative. An effective collaborator with passion and commitment.

Knowledge & Skills

• Intermediate understanding of banking and financial markets.
• Good understanding of Absa Bank Ghana’s strategy and objectives.
• Intermediate understanding of external environment (economic, legal, political, and regulatory) and its business impact.
• Good understanding of common financial markets products.
• Good understanding of the regulations and ethical issues relating to financial markets.

Education

Further Education and Training Certificate (FETC): Business, Commerce and Management Studies (Required)

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