Head: Institutional FX and Money Market Sales

Location

The role may be based in Johannesburg or Cape Town, depending on the location of the successful candidate.

Job Purpose

To provide strategic direction, operational leadership and management of the Institutional FX and Money Markets Sales team. This includes maximising revenue for Nedbank CIB Markets by ensuring sustainable FX revenue is generated from enduring relationships with institutional clients; and ensuring optimal alignment of Nedbank's institutional clients’ investment needs and Nedbank’s Asset and Liability Committee approved Liquidity Risk Strategy.

In addition, the role is responsible for growing Foreign Exchange revenues through the delivery of sophisticated risk management, investment, and hedging solutions, including derivative and structured FX solutions, while supporting Nedbank’s broader liquidity and funding objectives.

Job Responsibilities

•    Drive sustainable market share growth in Foreign Exchange revenues across the institutional client franchise.
•    Expand franchise revenues through increased adoption of derivative, non-linear, structured and hybrid FX solutions across the institutional client base.
•    Partner with Trading and Structuring teams to originate and execute FX risk management, investment and hedging solutions tailored to institutional client requirements.
•    Act as a trusted advisor to institutional clients on foreign exchange markets, currency risk management, and hedging strategies.
•    Ensure deposit market share alignment with Group ALCO and TBF targets and CFD tactical liquidity requirements by considering Nedbank’s Retail, Commercial and Corporate funding mix.
•    Formulate and implement a high-performance sales strategy aligned to the Nedbank Markets FX and Money Market strategies.
•    Review and improve the client engagement model and product set to drive a high-performance sales culture within Nedbank and grow the perception of Nedbank’s FX and Money Market franchise and trading capabilities in the marketplace.
•    Collaborate with internal stakeholders and use product knowledge and technical expertise to provide input into the pricing strategy within risk management frameworks.
•    Ensure compliance with the JIBAR Code of Conduct at all times.
•    Provide feedback and input to the daily NCD screen-setting process regarding institutional client activity.
•    Understand FTP processes within a bank and price institutional Money Market-related instruments in accordance with the FTP framework.
•    Present salient client information and trends at senior funding forums, in particular Nedbank’s TBF committee, and ensure compilation of relevant funding reporting for other forums.
•    Maintain collaborative working relationships with CIB Transactional Services and provide input into institutional client funding analysis and strategy development.
•    Develop the team’s technical competencies in FX, derivative and Money Market products to be the best in the market.
•    Create a high-performance culture that enables continuous innovation, growth, and learning.
•    Grow the client base through retention, wallet share growth from existing client business and acquisition of new client business.
•    Drive a digital-first approach.
•    Drive the implementation of a high-performance people culture in line with the Markets Culture Manifesto.
•    Play an active part in ensuring Nedbank’s transformation and succession-planning needs are fulfilled.

Essential Qualifications

• Relevant degree
• Relevant regulatory examinations

Preferred Qualifications

• Relevant post-graduate degree

Type of Exposure

• Developing and implementing a business strategy.
• Managing a high-performing team.
• Talent management and development.
• Liquidity risk management.
• Establishing and maintaining collaborative relationships.
• Building and maintaining profitable long-term client relationships with large South African institutional clients.
• Reporting progress in strategy in a data-rational way to senior management.
• Structuring, commercialising and executing sophisticated FX risk management and derivative solutions.

Minimum Experience Level

• 8 years’ experience in either FX Sales or Money Market Sales in a bank or large financial institution, preferably having had primary sales experience in both asset classes.
• Demonstrated experience originating and commercialising FX derivative solutions for institutional clients.
• Strong client relationships within the institutional client universe.
• Strong FX and Global Markets product knowledge, including non-linear derivative, structured and hybrid FX – Money Markets solutions.
• Strong Money Market product knowledge.
• 3 years’ management experience preferable.

Technical/Professional Knowledge

 •    Advanced knowledge of Foreign Exchange markets, products and risk management solutions.
•    Deep expertise in FX derivatives, including non-linear derivatives, structured and hybrid solutions.
•    Ability to originate, structure and commercialise sophisticated FX solutions for institutional clients.
•    Strong understanding of how FX and derivative solutions are applied within institutional investment, liquidity and risk management frameworks.
•    Knowledge of global market developments and macroeconomic drivers affecting foreign exchange markets.
•    Treasury product knowledge, including liquidity management and specifically Basel III LCR and NSFR ratios.
•    In-depth knowledge of the JIBAR Code of Conduct and the impact on execution of NCDs in the market.
•    Relevant regulatory, Exchange Control, Compliance, governance, risk and controls knowledge.
•    Strategic thinking and planning.
•    Problem-solving, solution-driven and decision-making skills.
•    Stakeholder management.
•    Business acumen.
•    Business administration and management.
•    Change management and principles of project management.
•    Data analysis, including the ability to turn data into knowledge that can be used to grow the business, identify opportunities, and identify problem areas.
•    Computer literacy and competence in Excel, PowerPoint, Word, Outlook and Teams.

Behavioural Competencies

• Customer Focus
• Driving Execution
• Inspiring Excellence
• Operational Decision Making
• Entrepreneurship
• Building Organisational Talent
• Strategic Influence
• Sharing Responsibility

Employment Equity Statement

Preference will be given to individuals from underrepresented groups.