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Thursday, 15 September 2016

Job at Standard Chartered Bank, Markets Products Specialists FX and Rates

MARKETS PRODUCTS SPECIALISTS FX AND RATES POSITION

Industries
Banking, Finance
Description
To trade in the market for a designated product range, pricing customer transactions.
To sell Treasury products profitably to each allocated groups of SCB customers, drawn from the BC + Priority clients and Personal client segments, acting as their primary point of contact in Treasury.


Key Roles and Responsibilities

Business

Ensure synergy in efforts to meet FX volume & revenue targets.
To ensure fair & objective competitive reimbursement rate pricing.
Keep track of FX Product performance on-going basis.
To keep abreast of latest trends in the foreign exchange markets and advice customers.
To assist in marketing of new FX products.
To provide assistance to relationship managers in maintaining ongoing close contact with clients. On a product partnership basis, ensure targeted realization rates are met to generate new revenue opportunities, and to gain feedback on the product. To conduct joint calling with Relationship Managers to provide technical FX expertise.
To identify opportunities for cross-selling and referral to other SCB lines through developing and maintaining a close understanding of customers' businesses.
To participate in various client functions, conduct client surveys and conduct Focus groups to ensure product and market intelligence feedback is solicited, and used in a way which enhances SCB's competitive positive.
Assist the Head WMPS Tanzania in the development and implementation of dynamic sales plans in line with overall product strategy plans
Provide accurate and timely product service to Retail Clients (Tellers, Trade Services Desks, Inward remittances desk, STS, etc.) to meet customer needs at competitive price.
To assist the branches i.e. tellers, back office, remittances, clearing and trade, to accurately capture all foreign exchange transactions into Ebbs.
To ensure WMPS team in achieving and maintaining daily and overall sales targets by providing up to date relevant information on new and existing customers.
To keep an up to- date database on all Retail Clients customers and prospective clients at all times.
Respond speedily and positively to all requests from customers for a specific transaction, or for more general advice, or introduction to a more appropriate contact within SCB, whether or not the request is from the specifically allocated group of customers.
Liaise with Operations concerning customer feedback received on service delivery quality, in order to seek improvements in service delivery where viewed as necessary from the customer's perspective.
Network on behalf of the team (communication back to team members) with customers, and with other SCB trading and sales groups, in order to solicit customer feedback, gain market intelligence, benchmark sales processes and techniques, and to enhance the Bank's profile in the market.
Ensure self-development through regular review of Progress with Head of WMPS and HOFM with the objective of meeting present and future needs.
Work with the Relationship Managers and Branches to ensure management of spreads across the branches and in all other units.
Working together with the WMPS team to ensure we achieve the Budget contributes to the P & L and support our vision.
Risk Management

Improve process flows to increase efficiency.
Enhance the Bank's reputation in the local market through personally demonstrating a high level of professionalism, and developing mutually beneficial working relationships with our customers.
To ensure prudent & smooth operational processing.
Maintain up to date knowledge of economic conditions and market trends on which to base informed dialogue with customers concerning the market risks in their business
Ensuring that Market Risk and Counter party limits are not exceeded.
Ignorance, due to lack of reference to the highlighted documents, will not be acceptable under any circumstances
Ensure that there are no unproved limit excesses
Make sure your are aware of and comply with data confidentiality requirements
Make sure any delegation of formal authority is correctly documented and recorded, and where relevant location managers are informed.
Ensure portfolio owners are responsible for all trades booked to the portfolios. Dealer should not be booking to unauthorised portfolios / accounts.
Ensure any operational losses are investigated and monitored to avoid reoccurrence.
Make sure you are personal trading / investment activity is pre-approved as required by policy.
Ensure that all business or transactional related conflicts of interest of staff are identified and mitigated as necessary.
Make sure the daily P&L and risk is reviewed, investigated and signed-off and trading books are appropriately marked in adherence with valuation control policy.
Make sure you review C&A's for appropriateness, and in particular, any evidence of fraudulent trading.
Maintain an adequate control environment and operational procedures to prevent loss arising from non-adherence to controls.
People and Talent

Continually up skill and grow self, ensure proper talent pipeline management and succession planning.
Provide ongoing product training to all business clients & priority clients RM's and branches staff.
Inspire people through leading by example and living the values consistently.
Ensure Travel & Entertainment related expenses comply with policy. This includes, where required, pre-approval of client entertainment exceeding prescribed threshold
Lead through example and build the appropriate culture and values. Set appropriate tone and expectations from their team and work in collaboration with risk and control partners.
Ensure employees register all client entertainment and gifts in the appropriate register and policy is adhered to for gifts given and received
Governance

Understand and adhere to guidelines as stipulated in CA(Country Addendum) and ensure products are sold to the correct customer base
Make sure all information is handled appropriately; where necessary exposure to information which may be confidential or sensitive should be notified to Control Room and/or Legal & Compliance.
Monitor regulatory and market development and provide feedback on the market and the business to the sales and management.
Regulatory & Business conduct.

This includes the responsibility for the conduct of individuals in sales by ensuring behaviours set out in the Group Code of Conduct are followed and that the [business/country/function] achieves the outcomes set out in the Conduct Principals and Pillars.
Take personal responsibility for understanding the risk and compliance requirements of the role. Understand and comply with, in letter and spirit, all applicable laws and regulations, including those governing anti-money laundering, terrorist financing and sanctions; the Group's policies and procedures; and the Group Code of Conduct.
Compliance with Bank and local regulations.
Effectively and collaboratively identify, escalate, mitigate and resolve risk and compliance matters.
Display exemplary conduct and live by the group Value and Code of Conduct
Lead Financial Markets to achieve the outcomes set out in the Banks conduct principles {Fair outcomes for client, Effective Operation of Financial Markets, Financial Crime Prevention, The Right Environments' }
To abide by the Rules and Regulations laid down by the Bank of Tanzania, SCB's Internal Control guidelines and the Dealers Code of Conduct.
Embed the Group's Values and Group Code of Conduct to ensure adherence with the highest standards of ethics and compliance with relevant policies, processes and regulations, as part of the culture. Lead by example by displaying exemplary conduct behaviours and take personal responsibility for:
The conduct of individuals in Financial Markets Tanzania ensuring behaviours set out in the Group Code of Conduct is followed.
Financial Markets Tanzania achieving the outcomes set out in the Conduct Principals and Pillars.
Anti Money Laundering

Be away of and comply with Group policy, local laws and Regulations relating to the prevention of Money Laundering and Terrorist Financing.
Ensure you remain alert to the risk of money laundering and assist in the Bank' efforts 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
Ensure that effective arrangements are in place for prevention of Money Laundering in line with Group Policy Standards, and local legal and regulatory requirement. In particular, through the designation of country MLPO ensure the obligation on reporting suspicious activities are met.
Ensure the desk operates within the highest standards of AML Management and other controls as stipulated by the bank and regulators.
Review FX transactions as per CDD/AML guidelines on a daily basis, noting transactions that require to be reported under Suspicious Transaction reporting.
Other Responsibilities

Achievement of Priority budgeted growth of the FX business
Assist in the development of a wider range of products and services to increase consumer share of wallet and deepening SCB customer relationship and attracting new customers.
Contribute to increase in revenue due to changes in product mix and distribution strategies and development of new revenue streams.
Ensuring that all relevant products or product/service bundles are brought to market proactively
Quoting Exchange Rates to BC, Priority and Personal clients and branches
Pipeline and sales leads to ensure attainment of budget
Visiting BC, Priority and Personal Clients together with RMs
Adherence to control and compliance as guided by Bank policies and procedure


Qualifications and Skills

A sound background and knowledge of banking with particular emphasis on Foreign exchange products and money market products.
Be able to know and monitor the key economic indicators that will impact on the forex business and be in a position to explain that to customers.
Be able to convince clients that the solutions offered are beneficial to the client's business, by using strong influencing skills in client negotiations.
Should be in a position to interpret the business risks of the corporate desk and the overall client portfolio.
Should be proficient at a basic level in a number of Bank's standard packages and/or systems.
Excellent negotiation skills and the ability to ensure effective collaboration
Self-motivated, assertive and proactive.
Ability to market and establish client relationships
High level judgement is required in pricing foreign exchange transactions
Good judgement is required when dealing with clients in giving advice on market trends



APPLICATION INSTRUCTIONS:

Online application,  Click HERE to Apply

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