Company Info
Large organization
Rand Merchant Bank (RMB), a division of FirstRand Bank Limited, is a leading African corporate and investment bank and part of one of the largest financial services groups in Africa.
200 + Employees
Rand Merchant Bank (RMB), a division of FirstRand Bank Limited, is a leading African corporate and investment bank and part of one of the largest financial services groups in Africa. We offer our clients innovative, value-added advisory, funding, trading, corporate banking and principal investing solutions.
1). ALM Risk Senior Analyst
Job Requisition ID: R26636
Location: Lagos
Job Type: Full-time
Job Description
- The Governance Framework for the Management of ALM Risk (i.e., Liquidity Risk, Currency Risk, and Banking Book Interest Rate Risk) provides the governance principles aimed at creating a robust process to assess, measure, monitor, and report these risks.
- RMB Nigeria’s (“RMBN’s”) Group Treasury is the extension of FirstRand Bank’s Group Treasury and is responsible for the implementation of the Framework in Nigeria.
- RMBN’s Treasury team is also responsible for the management of the bank’s capital to ensure its adequacy under business-as-usual and stress conditions, capital management risk is therefore a key component of this role.
Responsibilities
Frameworks, policies, and mandates for the management of Treasury Risks:
- Responsible for the establishment and maintenance of frameworks, policies and committee (i.e., ALCCO) mandates.
- Ensure full compliance with Group standards and regulatory requirements associated with funding and capital (LAR,
- CRR, LCR, NSFR, CAR.)
- Propose risk limits, ensuring that portfolio mandates are in place across and in line with risk appetite.
- Research best practices and make recommendations on the implementation of new developments and improvements in risk.
- Management processes.
Governance & compliance:
- Monitor risks and ensure that the exposure and utilization is in line with the risk limits.
- Ensure that mandate and limit breaches and non-compliance thereof are escalated to appropriate forums.
- Ensure implementation of Basel III requirements across all portfolios.
- Ensure adequate governance processes are in place (frameworks and regulations).
- Ensure coordination of Internal and External Audit engagement.
Risk analytics and measurement:
- Ensure that an appropriate control framework is in place to ensure the accuracy and completeness of Treasury risk metrics
- Develop new and optimise existing strategies for the management of risks
- Perform an assessment and forecast the key reporting metrics and provide commentary that can be used to explain implications of the outputs and attribute movements.
- Continuously assess appropriateness of metrics and measurement methodologies.
- Drive and implement the annual Internal Capital Adequacy Assessment Process ‘ICAAP’ (including the completions of all applicable reference documents) and Recovery Planning Process (RRP).
- Guide and implement a repeatable, dynamic stress and forecasting process in line with Group’s guidelines, regulatory requirements and best practice.
- Drive and implement the quarterly Internal Liquidity Adequacy Assessment Process ‘ILAAP’ (including the completions of all applicable reference documents).
- Review the stress testing of assumptions & BAU back testing results for each Treasury Risk.
- Perform impact assessments on proposed changes to regulations impacting on stress test outcome.
- Provide recommendations to the executive management on dividend payout and optimization of the RWAs for business units based on the ICAAP outcome.
- Analyze and monitor the currency risk on the balance sheet (banking book) to ensure the bank is immunized from adverse shocks.
- Manage and ensure compliance with the regulatory limits on Net Open Position.
Reporting & communication:
- Co-ordination and production of the ALCCO pack sections and presentations relating to Treasury risks as well as facilitating and standardizing the reporting into appropriate forums and frequency for both in-country and Group
- Coordination and submission of Key Management Process reports relating to Treasury risks in the banking book to the Board’s Risk & Compliance Committee
- Action ad hoc reporting and queries relating to Treasury risks reporting
- Communicate results of risk analytics and measurement to the Treasurer
- Co-ordination and production of the periodic ICAAP and ILAAP report.
Strategic relationships
Responsible for the development and maintenance of strategic relationships with:
- Other Risk Type Owners
- Finance, Regulatory Reporting and Compliance
- Management committees (ALCCO, FRM)
- Regulator
- Group and in-country Research teams
- Group ALM Risk Management
- Group Capital management
- Group Exchange Control
- Develop and maintain relationships with Group peers to keep up to date with latest developments across
- FirstRand w.r.t risk frameworks, disclosure requirements etc.
- Industry liaison
Experience and Qualifications
- A Degree in Accounting / Finance / Maths / Statistics or a related field with a strong quantitative bias.
- CFA or FRM qualification would be an advantage.
- At least 5 – 7 years of work experience within an Asset/Liability Management or Risk Management function.
- Thorough understanding of banking products and financial instruments.
- Thorough understanding of ALM management and an understanding of ALM and Capital specific regulations (e.g. Basel reporting standards)
- Knowledge of risk measures and practices (e.g., PV01, VaR, EaR (NII sensitivity)
- Thorough understanding of governance and control frameworks
- Capable of analyzing complex concepts and translating these into simple and concise narratives for management
General Competencies:
- Strong analytical skills
- Strategic thinking
- Excellent communication skills (verbal, presentations, and written)
- Passionate/energetic
- Work well under pressure
- Self-starter / able to work independently
- Team player
- Strong interpersonal skills
- Commitment to excellence
- Time management
Application Closing Date
18th April, 2025.
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2). Custody Sales & Relationship Officer
Job Requisition ID: R31578
Location: Lagos
Job Type: Full-time
Job Description
- The role of Custody Sales & Relationship Officer remains accountable and responsible for working with the Head of Custody Services to ensure the timely execution of all strategic plans as they pertain to Custody, whilst ensuring that budget requirements are met.
- The jobholder is responsible for working with the rest of the team in instilling a culture of service and operational excellence while simultaneously ensuring improved product capabilities with ongoing process efficiency and adherence to all operational practices and governance processes.
Strategy and Financial Management
- Work with the head of business and various teams across the bank in driving the strategic plans and ensuring successful implementation thereof, with the right levels of priorities assigned to strategic tasks
- Originate new sales opportunities and effectively manage the sales pipeline aimed at achieving aggressive growth in assets under custody (AUC) and custody liabilities
- Effective follow-through on onboarding new clients and opening of accounts in a timely manner, and in collaboration with all relevant stakeholders according to set service level agreements
- Plan and execute regular hot and cold client calls to drive new business and manage existing clientele
- Stay close to clientele to ensure that potential and live issues and requirements of the clients are identified and proactively addressed
- Actively seek to make recommendations to improve the system, processes, and procedures to meet client needs and to be first to market in terms of launching new products and services
- Complete all RFPs (requests for proposal), RFIs (requests for information), and questionnaires with precision and accuracy to ensure that all operationally related information is provided
- Provide guidance in terms of the desired dashboard management and reporting pertaining to various aspects of the business environment to allow timely and accurate reporting at month-end to executive management
- Manage the entire suite of custody-related products, including direct custody, international custody, broker clearing solutions, funds services, and fiduciary services
- Analyse industry developments, market change,s and competitor offerings to provide insights on real or possible threats and opportunities, assess the impact on clients, and offer appropriate and innovative product solutions
- Extensively interact with clients (within the overall client management strategy) to stay abreast of client agenda and thinking, explain the impact of market changes, and to lead solution discussions
- Actively engage in the market advocacy processes by participating in local industry forums and regulatory committees
- Establish and maintain excellent working relationships within Global Securities Solutions, Global Markets, and the broader RMB
- Prepare accurate and meaningful information at executive levels within the organization, whilst ensuring that such information is an adequate representation of the current events transpiring within custody.
- Develop and maintain a high-performance culture to support the strategic initiatives of the business aimed at providing service excellence that will differentiate RMBN in the market
- Actively participate in all industry forums with proactive feedback to clients and other stakeholders in terms of the impact of such market initiatives
- Remain cost-focused and make suggestions for improvement to aid in reducing existing business costs
- Handle all regulatory and compliance requests with the utmost sense of duty and dispatch
Business:
- Closely monitor market developments and competitor activity; maintain close contact with country product teams, assess potential impact on clients and custody business locally, and identify appropriate action where necessary
- Job scope covers the whole range of custody activity, including custody, broker clearing, funds services, and fiduciary services
- Manage relationships with functions such as Operations, Risk, Credit, Compliance, Legal, and Finance as they impact the evolution of the custody product suite locally
Teamwork:
- Actively strive to achieve team camaraderie within Custody and the larger organization
- Keep open lines of communication with other team members and ensure alignment across teams at all times
- Contribute to the achievement of the Custody team’s collective scorecards and ensure that the jobholders are well-versed in the strategic intent of the Custody business, allowing him/her to participate in the execution of the strategic objective
Governance:
- Ensure ongoing adherence to all legislation, regulatory requirements, and risk and compliance matters to avoid control breaches or non-adherence to such requirements
Qualifications & Experience
- B.Com Degree (or equivalent)
- Minimum of 3 to 5 years post-graduation experience
- Advantageous to have an understanding and working experience of banking regulations, financial accounting & taxation, payment, clearing & settlement systems, credit risk, process mapping & reengineering, sales and treasury products
- Full MS Office suite proficiency
Competencies:
- Excellent interpersonal skills and proactive attitude
- Ability to cope under pressure and maintain a positive attitude all the time
- A strong team player with the ability to work closely with all internal desks
- Analytical and attention to detail
- Decisiveness and action orientation
- Drive and results orientation
- Ethical judgment
- Resilience and stress management
- Building relationships
- Customer service orientation
- Teamwork
- Building the brand
- Business insight and risk awareness
- Commercial and financial acumen
- Organizational awareness.
Application Closing Date
18th April, 2025.
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3). Foreign Exchange Dealer
Job Requisition ID: R18315
Location: Lagos
Job Type: Full-time
Job Description
- To trade in the Nigeria foreign exchange markets for a designated product range (Spot, Forwards and swaps), pricing transactions and managing trading positions, in order to maximize trading profits at acceptable risk.
- To be responsible for making market and the execution of foreign exchange transactions for corporate and institutional clients.
Responsibilities
The successful candidate will be responsible for the following:
- Transact foreign exchange trades on the bank’s own account in the knowledge of customer-based transaction flows and in anticipation of future changes in the market, making use of associated products where relevant to the trading product
- Provide a product trading service to markets customer segment sales staff to meet customer needs at competitive prices
- Contribute to building the bank’s reputation in the local and international market through personally always demonstrating a high level of professionalism, developing mutually beneficial working relationships with counterparties, internal stakeholders, clients, regulators etc.
- Manage the transaction-based risks generated in trading, by working within the established parameters and rules appropriate to the trading product (trading limits, hedging, mark-to-market, delegated authority, etc)
- Adopt a sales approach if and where appropriate, for all counterparties where their relationship to RMB is essentially that of a customer.
- To relieve other dealers as necessary to ensure the smooth functioning of the dealing room
- Share relevant market, customer and counterparty intelligence with internal stakeholders to ensure the bank derives maximum benefit from its networking potential
- Interact with the support staff in order to ensure all deals are successfully executed and settled
- Ensure you remain alert to the risk of money laundering and assist in the Bank’s effort in combating it by adhering to the key principles in relation to: identifying your customer, knowing your customer, reporting suspicions, safeguarding records and not disclosing suspicions to customers.
- Build an in-depth knowledge of the client by staying abreast of changes within the client’s business which will create new opportunities to transact
- Keep abreast of market developments and proactively keep clients up to date on current market conditions
- Seek out cross-sell opportunities within the bank’s customer base
- Entertain clients on a regular basis through RMB events as well as informal entertaining
- Manage relationships with other price makers
- Maintain the highest degree of professionalism and dealing ethics
Qualifications and Experience
- Minimum of a 2nd Class Degree in a relevant course
- 10 – 12 years of trading experience with a thorough knowledge of and experience in foreign exchange in Nigeria, Fixed income markets, and structuring would be an advantage.
General skills:
- Good interpersonal and communication skills
- Must be proactive and a team player with the ability to guide junior members of the team.
- Knowledge of the Central Bank of Nigeria’s exchange control regulations and Debt Management Office’s guidelines
- Strong strategy and leadership skills
- Candidates will be expected to build productive relationships both internally and externally and therefore need to be able to communicate prices and strategies clearly and articulate market views and translate them into trades.
- Ability to cope under pressure with strict adherence to established risk guidelines.
Application Closing Date
3rd April, 2025.
How to Apply: Interested and qualified candidates should use the links below to apply:
