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.
We are recruiting to fill the position below:
Job Title: ALM Risk Manager
Job Requisition ID: R12633
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.
- For the purpose of this document, reference to ‘risk(s)’ means, ALM and capital management risk, which are also jointly referred to as ‘Treasury Risk’.
Responsibilities
The following responsibilities & key performance areas are required for the job:
- 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 practice and make recommendations on implementation of new developments and improvements in risk management processes.
Governance & Compliance:
- Monitor risks and ensure that the exposure and utilisation is in line with the risk limits.
- Ensure implementation of Basel III requirements across all portfolios.
- Ensure adequate governance processes are in place (frameworks and regulations).
- Ensure that mandate and limit breaches and non-compliance thereof are escalated to appropriate forums.
- 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.
- 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.
- 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.
Reporting & Communication:
- Co-ordination and production of the ALCCO pack sections and presentations relating to Treasury risks as well as facilitating and standardising the reporting into appropriate forums and frequency for both in-country and Group
- Communicate results of risk analytics and measurement to the Treasurer
- Co-ordination and production of the periodic ICAAP and ILAAP report.
- 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
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 related field with a strong quantitative bias.
- CFA or FRM qualification would be an advantage.
- At least 5 years experience in asset/liability management or risk management.
- Knowledge of risk measures and practices (e.g., PV01, VaR, EaR (NII sensitivity).
- Thorough understanding of governance and control frameworks .
- Capable of analysing complex concepts and translating these into simple and concise narratives for management.
- 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)
The following competencies are required for the job:
- Strong analytical skills
- Strategic thinking
- Team player
- Strong interpersonal skills
- Commitment to excellence
- Time management.
- Excellent communication skills (verbal, presentations and written)
- Passionate / energetic
- Work well under pressure
- Self-starter / able to work independently
How to Apply
Interested and qualified candidates should:
Click here to apply
Application Deadline 11th October, 2024.