The Standard Bank Group merged its Nigerian operations, Stanbic Bank Nigeria with that of IBTC Chartered Bank PLC. The merger, by way of the first ever tender offer in Nigeria and a $525 million FDI, the largest in Nigerian financial history, gave birth to a new entity now known as Stanbic IBTC Bank PLC which became part of the Standard Bank Group. The merger was officiated in August of this year and legalised on the 24th of September 2007.

Stanbic IBTC Bank PLC through its wholly owned stock broking and asset management subsidiary, IBTC Asset Management Limited has several excellent mutual funds including the IBTC Nigerian Equity Fund, which is Nigeria’s largest mutual fund with a net asset value in excess of N25 billion (as at December 2007). It is the only bank that has a direct subsidiary that is a pension fund administrator; through the market leading IBTC Pension Managers Limited (IPML).

We are currently recruiting for:

Job Title: Manager Market Risk

Job: ID11220
Location: Nigeria
Division Group: Risk Management
Position Category: Operational Risk
Employment Type: Full Time – Permanent
Shift: No
Regulatory Approval: Yes

Main Purpose of the Job
• To effectively monitor and report market risk and other related risks of the bank on a daily basis.

Key Responsibilities
• Enforce and ensure compliance with market risk policies and procedures as it relates to FX, MM, FI and FI.
• Monitoring of backtesting exceptions.
• Quantification of Normal VaR, Stress VaR and PV01 computation & analysis.
• Automating all risk reports to shorten the time for producing the reports and increase integrity.
• Building and strengthening relationships and ensuring interaction with Front office, Back office, Finance, and Calypso IT Team.
• Providing leadership, for subordinate(s) in terms of an efficient working environment, and doing more with our current resources.
• Identify all the products in the books of the bank, ensure they have been signed off by the NPC and mandates exist for their use. Ensuring that only authorized products and risk factors are traded by desks.
• Track the P/L from all products in the Banking & Trading Book. This entails daily review of Risk and P&L reports & determines P&L attribution per product.
• Quantification of MR for Trading book, Banking book for Equity, Interest rate products and for FX products.
• Supervise production of daily, weekly and periodical MR reports to various committees of the firm (ALCO, BRMC etc)
• To ensure that relevant meaningful and insightful commentary is included in all reports (daily, weekly, monthly e.t.c) that clearly and succinctly gives the reader an understanding of the salient risk exposures and sources of P& L on the desk, country, region, FX business and demonstrates the preparers understanding thereof.
• Supervise Effective and comprehensive price validation of liquid risk drivers (daily) and all risk drivers (at least monthly).
• Management of all breaches from identification through to closure thereof (position reduction, condonement e.t.c). This includes recommendations of corrective actions to traders before close of business. This involves daily monitoring of exposures, limits for all the books i.e. banking, trading & Equity.

Required Skills and Qualifications
Qualifications
• A good first degree in a quantitative field
• Ability to manage a team
• Ability to program in VBA for Excel or other suitable OOL while not compulsory would be a bonus
• Good understanding of various Financial Instrument Analysis (Bonds, FX, Interest Rate Instruments)
• Good understanding of how the Bond, FX and Interest Rate Markets work
• Good knowledge of VaR and Stress testing

Application DEADLINE: May 7th, 2013

How to Apply
Interested and qualified candidates should:
click here to apply online