FX Trader at Ecobank Kenya

Ecobank Transnational Incorporated (ETI) acquired 75% of EABS Bank on the 16th of June 2008, and the bank consequently changed its name to Ecobank Kenya Limited. ETI subsequently increased its shareholding in the bank which is currently at 100% as at 31st December, 2016. Ecobank Kenya (EKE) had an asset base of Kes 47.12billion as at 31st December 2016. As at 31 December 2014, the bank was ranked 20TH out of 43 commercial banks in Kenya in terms of asset size. The bank currently has 19 branches and over 30 ATMs located in different parts of the country. Ecobank has laid a great emphasis on digital banking as a means of achieving greater financial inclusion across Africa and also to deliver services in a more efficient and cost effective manner. In 2017, Ecobank Group was named the “Best Digital Bank in Africa 2017” at the Euromoney Awards. This attests to its focus on digital platforms as a key driver of its business.

KEY RESPONSIBILITIES

POSITION MANAGEMENT

• To ensure that the Group’s approved NOP and regulatory NOPs are adhered to.


• To ensure trading is restricted to approved currencies, tenor and products


• Ensure that trading is professionally conducted


• Ensure Stopped loss and profit taking levels are adhered to.


• Develop platform to build client relations and coordinate customer relationships in the Inter-bank market.


• To establish and maintain regular contacts with customers and regulators.


• Identification of trading opportunities, both in-country and regionally.


• Identification of area as well as in-country competitive threats and market opportunities, to feed into overall trading strategy.


• To set up revenue streams by introducing products such as Proprietary FX Trading.


• To monitor business performance on an on-going basis vis-à-vis budget and take pro-active measures to achieve it.


• To ensure that necessary steps are taken to address regulatory and internal control guidelines.


• Identification of area as well as in-country competitive threats and market opportunities, to feed into overall trading strategy.


• To set up revenue streams by introducing products such as Proprietary FX Trading.


• To monitor business performance on an on-going basis vis-à-vis budget and take pro-active measures to achieve it.


• To ensure that necessary steps are taken to address regulatory and internal control guidelines.

FINANCIAL MANAGEMENT

• Delivery of Country Trading budget.


• To provide direction and migrate best practices

COMPLIANCE TO BANK & LOCAL REGULATIONS

• To ensure complete adherence to all of ECOBANK’s compliance and regulatory requirements.


• To maintain high standards in terms of compliance and internal process ensuring complete adequacy to Audit requirements.


• To ensure the business meets its obligation in terms of client appropriateness and suitability of product supply.


• To maintain good relationship with regulators.


• To keep abreast of the changes in the business and regulatory environment.

REQUIREMENTS

EDUCATION & EXPERIENCE

• An ACI dealing certificate is a MUST based on CBK regulation


• Master’s degree in Finance, Economy or Business Administration


• Master’ degree from Engineering School


• Master’s degree from Business School


• Strong knowledge of customer engagement and lead concretization


• Ease of personal communications and attention to detail is a must

COMPLEXITY & JUDGEMENT

• FX and Money Market rate management in order to secure the optimum spreads without loss of business.


• To be able to analyse and interpret market news with a view to provide quality service and inputs to clients and other business units.


• To be able to analyse market trends and information and take steps to further grow business.


• To exert sound judgement as to expand customer base within appropriate regulatory and KYC environment.


• Multi-cultural and diverse people environment.

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