Associate Treasury Markets (Iraqi nationals preferred)

Strategy

To lead the Treasury-Markets Desk in the implementation of its strategy for optimal management of the country Balance Sheet. This covers the management of liquidity, credit and interest rate mismatches, as well as own account discretionary investment positions. Assuming overall responsibility for Treasury-Markets activities.

Business

• Prudent day-to-day and intraday management of the liquidity position in the country, including the day-to-day compliance with Group Policies and Guidelines, Local Regulatory requirements, local payment system and intraday liquidity requirements.
• The maintenance of the bank’s presence in the inter-bank market to aid funding and investment activities.
• The management of revenue budgets.
• Contribute to the MENA FX Team TPI
• Facilitate client business and manage risks
• Trade & risk manage a portfolio of Iraq FX, Spot & Forward
• Manage a portfolio of peripheral currencies
• Interact and communicate regularly with Sales, Treasury Markets, Traders & other support functions to resolve issues/grow the business
• Management of interest rate mismatch and risk positions to maximise returns (through P&L and MTM)
• Sourcing diversified low cost funds
• Managing operating costs
• Implementation of FX Trading Iraq specific strategies to ensure that performance objectives and financial objectives are met
• Build stronger and deeper relationships with Sales to offer clients better products and services

This role entails managing multiple FM risks including liquidity risk, market access risk, maturity concentration risk and interest rate risk of the Bank’s Balance Sheet

The job holder must also ensure the Bank is adequately funded and has a funding strategy to meet planned asset/liabilities growth of the commercial balance sheet and also has plans for unanticipated contingencies

Processes

• Ensure Statutory Liquidity requirements and internal Group Limits are adhered to
• Lead the way in the ALCO forum through active participation, providing ALCO members with timely balance sheet analysis and market information, ensuring other ALCO members are always engaged in an up-to-date Balance Sheet strategy that compliments the bank’s revenues aspirations
• Propose, negotiate and regularly advise on the Funds Transfer Pricing Policy for the Bank, in a consistent manner and in compliance with the Group policies, taking into account local market dynamics.
• Support ALCO in decisions relating to Capital requirements and management, proposing investment strategies, and market research.
• Support development of active RWA management and adherence to country targets.
• Show creativity when proposing solutions to specific funding problems, engineering solutions and ‘thinking outside of the box’
• Prove ability in managing change, especially when imposed by the external environment (regulatory).
• Work with FX Trading MENA & sales to identify the initiatives to grow the franchise in Iraq as required
• Ensure full understanding of other businesses’ strategies, providing support with regards to funding and pricing requirements.
• Network on behalf of the T-M business with internal customers, external market counterparties, and other SCB centres, in order to solicit customer feedback, gain market intelligence, benchmark trading techniques, and enhance the Bank’s profile in the market.

Risk Management

• Manage daily liquidity ensuring adherence to all internal and external limits.
• Maintain strategic capability to meet stressed liquidity conditions if and when required.
• Ensure that all lending and investment decisions are made within MTCR and Credit limits.
• Ensure that all compliance and Local regulatory requirements are met and reported as appropriate.
• Support and develop the payment systems and ensure the Bank’s liquidity supports the capability of meeting customer payment needs.
• Represent the T-M business in projects involving the implementation of major changes in the systems technology area.
• Take overall responsibilities for the IM, LM and T-M Support functions, ensuring they function as a team.

Governance

• Awareness and understanding of the regulatory framework, in which the Group operates, and the regulatory requirements and expectations relevant to the role.

Regulatory & Business Conduct

• Ensure the procedure of suspicious transactions monitoring within T-M is communicated.
• Report any issues related to money laundering prevention arising within the unit to Business MLPO.
• Vet and assist in the investigation of suspicious transaction reports originating from unit staff.
• Communicate with Relationship Manager (RM) on money laundering requirements and suspicious transactions.

Key Stakeholders

Internal

• Regional Head of MTCR and MTCR staffs in country.
• Country ALCO members.
• Financial Markets Operations staff.
• Head of CCIB and RMs in country.
• Local traders in MENA
• FM Sales Team MENA
• Treasury Markets Team in Cluster / Region

External

• Treasurers and Dealers of other local banks and financial institutions.
• Money brokers.
• Regulatory bodies.
• Key clients and potential clients

Other Responsibilities

• Act as back up for Treasury Markets Trader to SCB Jordan, Qatar & Oman during planned or unplanned leave (as per the fly-in & Cross border coverage model for single-person Treasury-Markets location and/or during a crisis/contingency situation).
• To facilitate stakeholders for buy/sale of USD from Central Bank/Interbank counterparties
• To facilitate bidding and trading activity for stakeholders in primary and secondary markets for securities

QUALIFICATIONS:

• University degree in a commercial/financial discipline with good analytical skills and ability to make speedy and accurate decisions under pressure.
• Ideally an experienced commercial banker with a good understanding of the operating environment dynamics, banking products and management structures of a large and successful commercial bank.
• Good Global Markets and Risk Management knowledge, with a thorough understanding of Foreign exchange, Fixed Income and Money Markets.
• Track record of profit generation and discipline in managing large market risk exposures.
• Strong interpersonal skills and high levels of maturity to manage interaction with different Business Units in the Bank especially in the matrix organisation structure / Global lines of business.
• Strong analytical and communication skills to gain approval of ALCO members and Group stakeholders for complex strategies and funding solutions.
• Ability to articulate market views and translate into trading strategies.