Dealer - Derivatives

AXIZ Consulting

Bahrain

Ref: OP195-54

Job description / Role

Employment: Full Time

Our client, one of the leading financial institutions in the GCC are looking to bring on a Dealer - Derivatives for one of their branches in Bahrain. The role will report to the Head of Treasury FX & MM Unit.

Job Purpose/Objectives:
- To conduct within authorized limits profitable off balance sheet money market transactions with the aim of generating profits.
- To effectively coordinate the derivatives needs for other business units.

Job Context:
- Work under the supervision of Head of Treasury FX & MM, to recommend and execute trading positions in various currencies.
- The job involves high level of communication both with other Treasury units to identify trading requirements, as well as other areas of the Bank in order to assesses the impact of major interest rate shifts on the Bank’s portfolios and to suggest viable methods/tools of hedging.
- Challenges vast developments in markets and formulate strategies in dealing with high volatility.

Dimensions e.g. Targets, budgets, staff numbers:
- Interbank NIM - As per agreed objective at the beginning of the year
- Derivative Trading - As per agreed objective at the beginning of the year

Principle Responsibilities:
- Work with the Money Market group to achieve the unit’s financial objectives.
- Trade money market derivatives, as authorized, to take advantage of short-term developments in interest rates.
- Work closely with other business units to identify their derivatives requirements.
- Work closely with other Treasury units to identify hedging needs.
- Execute gapping strategies in IRS as appropriate.
- Recommend off balance sheet strategies to take advantage of money market rate movements.
- Analyse and evaluate pertinent market data related to monetary and fiscal policies affecting the direction of interest rates in major markets.
- Monitor the various money market books performance and formulate strategies in how to minimizing loses during adverse movement by markets.
- Keep supervisor alert of any changes or possible changes in money market rates, line availability and any related development that could have an impact on overall activities.
- Use money market derivatives to hedge the Bank’s assets and liabilities exposures (with Head of Treasury approval).
- Perform other duties as required by supervisor.

Requirements

- Must be a College graduate preferably in finance, economics or any similar numerate-related qualification with 3 to 5 years of relevant experience.
- High level of knowledge of market tools and instruments to efficiently deal with Money Market books.
- Sound knowledge of various Treasury products that can be used to achieve targets without exposing the Bank to unnecessary risk.
- Awarance of risk associated with Treasury activities and ability to deal with it.
- High level of communication skills is required.

About the Company

AXIZ Consulting is based in the Dubai International Finance Centre and offers a bespoke, highly consultative recruitment service to local and international organisations across the GCC in both professional services and primary industries. Its founding two members come from a blend of executive search and contingent recruitment and they have taken some of the best practices of executive search and applied this to contingent recruitment in order to produce a service which offers maximum value to clients.

In order for us to build a successful company, we identified a core aim: to offer our clients a service that surpasses that of our competition. In order to do this, we have put into place both internal and external processes that ensure clients receive a consistent and professional service which gets the right results, in the right way.

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