Head of Markets Sales

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Job Summary

The role holder will report to the Director of Global Markets and will manage a team of Markets Sales dealers to meet ambitious financial and non-financial metrics set within the overall business plan. This is a key senior management role involving interaction with key internal and external stakeholders. It requires intimate knowledge of market dynamics, in-depth experience with sophisticated products, and a good understanding of various businesses to extract synergies and add value to all stakeholders.
This medium-level management position demands a focused, systematic, and independent approach, incorporating best-in-class market practices and product expertise from past experiences and Absa Africa Group Limited. This will add value to both existing and potential internal and external clients. The incumbent should possess excellent communication, interpersonal, analytical, and team management skills.

Job Description

Main accountabilities:

Staff Management and Development

• Define targets and responsibilities for individual Markets Sales dealers with the approval of the Director of Global Markets and manage and implement performance contracts.
• Attract and retain quality staff with the agreed skill, experience, and competency mix, in consultation with the Director of Global Markets.
• Embed appropriate training plans for both Markets Sales dealers and Relationship Managers/Bankers.
• Maintain and foster a focused, top-class work culture within the team.
• Ensure staff pursue goals and training to maximize their potential.
• Identify and develop succession planning at all levels in the management hierarchy, including cross-training as part of a defined staff development plan.
• Implement a high-performance culture within the business.
• Ensure that PD reviews are conducted at the end of each quarter and provide feedback

Business Planning Objectives

• Prepare and agree on a Markets Sales Business Plan with the Director of Global Markets and Business Heads that aligns with and supports the Markets vision.
• Disseminate the objectives and strategies of the plan to the Markets and Business teams, ensuring they are embedded in the Performance Contracts.
• Establish a mechanism to track performance continuously, conduct monthly reviews, provide feedback, and implement action plans to address any gaps.

Markets Sales and Marketing

• Lead the Markets Sales team, keeping them focused and motivated to attain the set quantitative and qualitative targets.
• Develop and implement a Markets Sales plan outlining objectives, key performance targets, client engagement strategies, etc.
• Foster close relationships with corporate bank relationship managers, customers, regulators, and other key stakeholders.
• Promote the expansion and penetration of Markets business into new customer segments.
• Increase the client portfolio and enhance profitability through the selective introduction of new products, initiatives, and structured solutions that add value and differentiate the Bank from competitors.
• Achieve the various volume, profitability, and product targets set.
• Ensure adherence to Bank’s policies, procedures, and relevant credit limits always.
• Establish a comprehensive training plan (both formal and informal).
• Compile an annual Markets Sales Business plan and provide regular monthly feedback on performance.
• Qualitatively improve the value of Markets Sales earnings (e.g., derivatives, structured products).
• Periodically hold client seminars and workshops.
• Maintain close contact with regulators and lead efforts to influence change and introduce new products.
• Ensure regular, high-quality communication on market analysis is consistently sent out (with appropriate disclaimers).
• Periodically benchmark Markets Sales performance against competitors

Systems and MI

• Maintain and develop accurate management information, providing timely reports on client names, volumes, profitability, and RM and dealer-wise segregation. Ensure these reports are regularly forwarded to the Finance and Corporate teams for incorporation into the country deck. Review these outputs monthly and take appropriate action to address any gaps.

Business Development and Control

• Work to maintain an orderly and efficient marketplace within the country, drawing on support from the central bank, local banks, and regulatory authorities.
• Investigate, develop, and promote new Markets products and services as required by both internal and external customers of the bank.
• Play a leading role in the development of new products.
• Collaborate closely with Absa Africa Markets and Group Markets in promoting new products and services.
• Always Advise the Director of Global Markets on all pertinent performance and risk management issues.
• Adhere to all limits without exception.
• Ensure effective management of Markets to achieve satisfactory audit outcomes.
• Proactively encourage and foster a sales culture within Markets, embedding customer service and sales targets.
• Manage and monitor sales and profit targets based on customer flows.
• Encourage and support the development of a market-making desk in local currency, interest rate, and local currency/third currency foreign exchange products. Progress the development of a liquid inter-bank market in the domestic currency.
• Provide innovative product proposals and strategies, backed by high-quality market analysis, to internal and external customers based on a sound understanding of market conditions, customer demand, and agreed risk tolerances

Executive Management Contribution

• Represent Markets at all senior executive country forums.
• Form close working relationships with country management.
• Actively engage with and support local industry forums.
• Maintain an active dialogue with the central bank.
• Develop and nurture customer contacts for Markets products and services

Risk and Control Objective

• Act as crisis coordinator in the event of major issues in the business unit, allocating tasks to the crisis teams.
• Regularly review the risk and compliance profiles of the business unit, providing consultative support to the Managing Director on necessary changes to rebalance risk and reward.
• Understand your role in the end-to-end processes, including applicable risks and controls.
• Adhere to Absa’s policies and procedures relevant to your role, demonstrating sound judgment and responsible risk management.
• Stay up to date on all regulatory changes, articulating their impact on the business and staying informed on industry trends.
• Ensure all mandatory training is completed by the deadline

Technical Skills/Competencies

• Comprehensive knowledge of all areas of the Global Markets function, including front, middle, and back office.
• Consistently strong track record in the Global Markets environment.
• Expertise in derivatives and other sophisticated financial instruments.
• In-depth understanding of the latest liquidity, capital, and market risk management techniques.
• Thorough knowledge of international and local market dynamics.
• Understanding of Global Markets operational processes and controls.
• Familiarity with regulatory issues and controls.
• Proficiency in market and liquidity risk management.
• Strong project management skills.
• Excellent negotiation skills.
• Proven leadership and team management abilities.
• Effective presentation skills.
• Expertise in change management, innovation, and technology

Knowledge and Experience:

Essential

• An advanced business degree or equivalent qualifications are desirable.
• Previous experience in a Global Markets environment.
• Treasury qualifications such as ACI or ACT.
• Proven experience in treasury and prior experience in managing staff

Preferred

• Knowledge of banking products and services.
• Understanding the cultural aspects of delivering change within Emerging Markets is advantageous.
• Detailed knowledge and understanding of technical services and operating platforms.
• Extensive knowledge of project management principles.
• Strong network within the Global Markets environment

Absa Values

Absa’s Values and Behaviours represent the set of standards which governs the actions of all of us who work for the bank and against which the performance of every one of us in Absa are being assessed and rewarded:

• Trust
• Resourceful
• Stewardship
• Inclusive
• Courage

Education

Bachelors Degree and Professional Qualifications: Business, Commerce and Management Studies (Required)