Foreign Exchange Dealer Needed at Rand Merchant Bank (RMB)

Rand Mechant Bank (RMB), a division of FirstRand Bank Limited, is a leading African corporate and investment bank. As part of one of the largest financial services groups on the continent, we provide our clients with innovative, value-added solutions in advisory, funding, trading, corporate banking, and principal investing.

We are recruiting to fill the position below:

Job Title: Foreign Exchange Dealer

Job Requisition ID: R18315
Location: Lagos Central, 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
Not Specified.