Empowering Africa’s tomorrow, together…one story at a time.
With over 100 years of rich history and strongly positioned as a local bank with regional and international expertise, a career with our family offers the opportunity to be part of this exciting growth journey, to reset our future and shape our destiny as a proudly African group.
Job Summary
This is a Senior Credit Analyst role, with the primary focus to independently manage a defined portfolio of Global Markets Credit portfolio in CIB. The duties include, among others: evaluating the financial health of clients in the portfolio; preparing detailed credit applications with specific recommendations and presenting credit applications at various Credit Committees; credit approval / sanctioning within delegated credit mandate; deal structuring; risk assessment across CIB Global Markets products; and overseeing a team of Junior Credit Analysts. The portfolio is made up of:
(1) Prime Services clients;
(2) Asset Managers (as Agents) and their DPs “Disclosed Principles”;
(3) Securities Firms;
(4) Hedge Funds (Local and International Hedge Funds);
(5) Custody and Trustee
(6) Brokers, among others.
•In addition, the incumbent will be responsible for approval of the Structured Trade Reviews and New Products within the portfolio.
•Candidate is to ensure responsible and measurable risk taking, whilst retaining commercially minded solutions. Also, the candidate is to facilitate business enablement, working with various teams (e.g. Market Risk and various desks in Global Markets Business).
•The candidate is to act as a conduit for sanctioning of all credit related requests on a defined portfolio of Global Markets Credit portfolio against which Absa has credit facilities, collaborating with all key stakeholders including Heads of Businesses in Global Markets, Coverage Bankers, Market Risk Team, and Risks Teams (Credit, Markets, Models Teams, etc.).
Job Description
Accountability: Credit Risk Management:
- To take ownership and control of credit risk related work on a defined portfolio of Global Markets clients.
- The candidate is to carry out comprehensive and quality credit risk functions. Functions cut across the credit lifecycle (i.e. analysis, credit granting, implementing, managing, restructuring and impairment) to create shared growth. This is achieved through responsible risk management enhancing the decision-making process involved in the extension and management of credit risk within the boundaries of internal policies and external regulations.
- Representing Credit to Senior Management in various committees, presenting analysis of the aggregate portfolio risk and composition.
- Analysis of portfolio risk management and their impact to Portfolio Credit and Market Risk Metrics.
- Assist in developing and delivering relevant Monthly Risk MI for Senior Management within Credit and other senior partners, including analysis and commentary, ensuring risk issues on the defined portfolio are well understood and presented transparently.
- Create presentations and technical documents designed to articulate key risks to various forums and credit committees.
- Build and manage relationships with key relevant business partners to ensure responsible risk taking whilst retaining commercially minded solutions.
- Work closely with key partners to review and improve quality of MI over time.
- Support the management in the delivery of a sound governance process around the Credit MI's delivered by the team.
- Development of analytical tools to better understand and communicate risk concentrations and drivers of risk and capital.
- Maintain and manage the relevant portfolio within the defined appetite levels.
- To be an expert with an advanced understanding of operating environment and how it affects clients in the portfolio.
- To have strong working knowledge of Global Markets portfolio, including but not limited to:
1) Derivatives Trading Products:
2) Interest Rate Derivatives (Interest Rate Swaps (IRS); Basis swaps; Inflation swaps; Swaptions);
3) FX Derivatives (FX forwards, FX swaps, FX options);
4) Credit Derivatives (Credit Default Swaps (CDS), CDS indices,)
5) Equity Derivatives (Equity swaps, Total Return Swaps (TRS), Options (vanilla & exotic)
6) Commodity Derivatives (Commodity swaps, Futures and options)
7) Structured Financing & Synthetic Products (Total Return Swaps (TRS).
8) Execution & Trading Services (Agency & Principal Execution)
9) Margin Lending / Prime Brokerage Financing
10) Securities Lending / Borrowing.
Technical Skills - Strong knowledge of:
1) Credit risk metrics (PD, LGD, EAD)
2) Basel regulations – Basel I, II, III, IV.
3) Derivatives exposure methodologies (e.g., SA-CCR)
4) Financial modelling and analysis
5) Familiarity with: ISDA documentation, Collateral frameworks (CSA agreements), CSAs, GMRAs, GMSLAs.
- Review and enhancement of systems and processes with a view towards efficiency and automation whilst managing the current operational environment.
- Explore new, improved and alternative ways of lending or restructuring credit to ensure an efficient and improved end to end risk delivery.
- Effectively communicate developments within areas of activity to all relevant stakeholders.
Accountability: Data and System Management
- Compile portfolio reviews and sensitivity analysis.
- Develop, negotiate and implement appropriate Risk mitigation strategies.
- To produce relevant management information and manage exposures including the accurate maintenance of the data on relevant risk systems.
- Monitor adherence to policies and SLAs on a continuous basis and identify any deviations and possible concerns.
- Create and maintain an accurate due diligence record of the client portfolio, detailing what facilities they have and the associated terms and conditions.
- Understand and manage the required inputs into the banks models ensuring validity and accuracy.
- Monitor the client business performance and identify relevant risks to ensure early identification of change in the client’s business or operating environment and watchlist accordingly.
- Proactively utilize the systems and tools available for Credit Risk and partake in the ongoing development and feedback of these systems to deliver and enhanced automated credit function.
- Manage all administrative and operational aspects of the relevant portfolio of clients ensuring completeness, accuracy and validity of data.
Accountability: Governance
- Ensure that the Bank’s credit policies and philosophy are complied with.
- Ensure understanding and adherence to relevant Legal requirements relevant to the Credit Lifecycle and specific industry.
- Regulatory legislation and the changing environment require an up to date knowledge of changes and the impact on credit risk and capital adequacy.
- Complete the necessary training requirements and Compliance processes in a timely manner.
Accountability: People management
- Support in creating a high performance culture of individuals who are engaged.
- Portraying the right values and behaviors are portrayed in the achievement of the Risk Strategy.
- Contribute fully, including suggestions for ways of improving risk delivery and management through ongoing projects.
- Develop relationships with colleagues and create a sense of engagement.
- Communicate concerns or challenges faced in a constructive and positive manner.
- Develop and maintain contacts with Specialists in other areas of the Group.
- Embrace and adapt to the diversity and change within the current Banking environment.
- Demonstrate the willingness and ability to perform to the very best levels to ensure personal alignment to the Credit Risk Strategy.
Education and Experience Required
- B-degree in Business or Commerce (or similar)
- Relevant postgraduate qualification such as CA(SA) / CFA/ MBA preferable.
- 8+ years in: Credit Risk Management Global markets / Investment Banking
- Strong experience with: FI and NBFI credit analysis Derivatives and structured finance products
Knowledge & Skills:
- CIB Product knowledge
- Analytical abilities
- Professional writing and presentation
- Leadership capabilities
- Banking products and regulatory knowledge
- Risk Management principles and practices
- Stakeholder Management
Education
Bachelor`s Degrees and Advanced Diplomas: Business, Commerce and Management Studies (Required)
Absa Bank Limited is an equal opportunity, affirmative action employer. In compliance with the Employment Equity Act 55 of 1998, preference will be given to suitable candidates from designated groups whose appointments will contribute towards achievement of equitable demographic representation of our workforce profile and add to the diversity of the Bank.
Absa Bank Limited reserves the right not to make an appointment to the post as advertised
