JOB DETAILS:

I&M Bank Uganda is a commercial bank headquartered at Kingdom Kampala with a growing regional presence. The Bank offers a wide range of commercial banking and financial products and services and prides itself on introducing innovative products and services based on the needs of its customers. We are seeking to recruit a competent and highly motivated individual with extensive experience and abilities to support business growth in the following position:

JOB TITLE: HEAD, ASSET AND LIABILITY MANAGEMENT 

LOCATION: HEAD OFFICE

REPORTS TO: CHIEF FINANCE OFFICER

Job purpose:

The role holder is responsible for:

• Managing the Bank’s liquidity and investment activities.
• Developing and implementing strategies for ALM, monitoring market conditions, and executing trades to ensure the most favourable outcomes while generating revenue for the Bank.
• Developing a funding strategy to meet planned asset / liabilities growth and unanticipated contingencies.
• Overseeing the management of the Bank’s short-term funding requirements, Regulatory Cash Reserve ratio and Liquidity ratio, the investments of surplus cash, and the management of interest rate and liquidity and banking book FX risks.
• Overseeing Bank’s liquid cash management in local and overseas accounts to ensure nil default by bank of all clearing and settlement obligations.
• Ensuring compliance with regulatory requirements as well as internal Board approved and ALCO approved thresholds within laid down policies and procedures and reporting to Senior Management on the Bank’s financial and liquidity position.
• Managing counterparty relationships – local/international institutions and regulators.
• Overseeing rollout of Group and Country ALM initiatives that improve performance.

Key Responsibilities

Strategy

• Implementation of strategy for optimal management of the Bank Balance Sheet which includes liquidity management, credit and interest rate mismatches, own account discretionary investment positions as approved by ALCO and within policy.
• First line of defence responsible for managing the Bank’s balance sheet and liquidity by driving asset and liabilities and management of the short-term liquidity position.
• Leading the Balance Sheet Management team to ensure consistency of application in controls and processes, as well as implementation of new strategies that help to deliver on the Bank’s objective of NII stabilisation.
• Developing strategies and balance sheet analysis for margin/earnings optimization, funding and liquidity management, risk weighted assets (RWA) management and sovereign rating scenario analysis and resolution and recovery planning.
• Driving management actions and interest rate risk in the banking book (IRRBB) strategies that eliminate RoE drags and enhance returns.
• Ensure the desk’s dealers are always acting in the best interest of the Bank and maintaining the structural integrity of the balance sheet.
• Cascade the understanding of the bank’s business strategy to the dealers and modelling appropriate to the role.
• Active participation and provide ALCO members with timely balance sheet analysis and market information.
• Manage FTP process, driving balance sheet behaviour and recommending / implementing optimization initiatives and actions to achieve ALCO objectives.
• Develop and present investment proposals, new product proposals, hedging solutions and yield enhancements to ALCO, and onforwarding for CRMC and Board approval.
• Budget formulation for ALM revenues and costs.

 Business and Financial

• Ensure implementation of the bank and department strategy for optimal management of the bank’s balance sheet.
• Daily analysis of Local and Global markets and how they affect bond yields and price movements with a view of taking advantage of arbitrage opportunities and hedging opportunities to generate revenue and guide the bank on earnings stabilization or loss mitigation strategies.
• Grow the bank’s balance sheet through investments in Treasury Bills, Treasury Bonds, Eurobonds, and Money Market Placements.
• Manage the bank’s liquidity, credit risk and interest rate mismatches.
• Generate revenue through investment interest income and guide the bank on hedging strategies and cost reduction initiatives.
• Own account discretionary investment positions within approved parameters and guided by ALCO, policies, and procedures.
• Oversee the management of Cash Reserve Ratio, Central Bank account and all foreign nostro settlement accounts.
• Liaison with business segments to manage FTP for banking book and trading book products.
• Develop funding strategy to meet planned asset/liability growth of the bank’s balance sheet.
• Develop and manage liquidity contingencies and plan for unanticipated outflow requirements.

 Processes and Controls

• Ensure the team has a full understanding of the risk and control environment.
• Ensure Statutory requirements and internal bank limits are adhered to.
• Manage multiple risks including liquidity risk, market access risk, maturity concentration risk and interest rate risk in the Bank’s Balance Sheet.
• Ensure issues, suspicious activities and/or red flags are escalated immediately upon discovery.
• Any operational losses are investigated and monitored to avoid recurrence. Root causes to be investigated and escalated to relevant management.
• Ensure all lending and investment decisions are made within approved limits.
• Effectively and collaboratively identify, escalate, mitigate, and resolve risk, conduct and compliance matters.
• Ensure counterparties engaged have gone through due diligence and approval.
• Ensure SLAs adherence and assist in streamlining processes and procedures.
• Liaise with other support departments to ensure we work as team to create efficiency in our work.
• Drive clean audit results, identify process improvements, and deliver continuous enhancements.

 People and Talent

• Provide guidance and oversight of the country ALM team as they perform their duties i.e., balance sheet optimization, liquidity management, cost management, regulatory requirements, funding and investments, product control, etc.
• Lead through example and build the appropriate culture and values.
• Set appropriate tone and expectations for the team and work in collaboration with others i.e., business segments, treasury markets, risk, compliance, treasury operations, etc.
• Ensure the provision of ongoing training and development of the team.
• Ensure the team has effective supervision in place to mitigate any risks.
• Have succession planning for the desk while engaging and retaining a calibre of dealers for the desk.
• Responsible for the review of team structure/capacity plans.
• Set and monitor performance objectives for direct reports and provide feedback and evaluation in line with their performance against those responsibilities and objectives.
• Display exemplary conduct and live by the Bank’s Values and Code of Conduct.
• Take personal responsibility for embedding the highest standards of ethics, including regulatory and business conduct, across the Bank.
• Understand and ensure compliance with, in letter and spirit, all applicable laws, regulations, guidelines and the Bank’s Code of Conduct.
• Effective and collaborative efforts with other departments in the Bank to identify, escalate, mitigate and resolve risk, conduct and compliance matters.
• Pursue career development plans and follow through implementation and later be a trainer to others in the department.

Initiatives and Product development

• Ensure new ALM initiatives (Group and Country) are planned and executed on time and in line with the bank strategy.
• Facilitate training within ALM and develop the team’s future-ready capabilities.

Other Duties & Responsibilities 

• Represent ALM in ALCO, EXCO, GALCO, RISCO committee meetings as well as provide insight in area of expertise.
• Weekly market updates to business teams and Monthly departmental performance checks and strategy meetings.
• Attend meetings with treasury counterparties and representatives and ensure onboarding of new ones.
• Implement FTP, ALM system and robust risk management framework.
• Develop product papers for approval.

 Supervisory Roles

• Supervising and overseeing the daily activities of ALM team in real time to ensure adherence to policies, procedures, guidelines and directives from governance committees, industry/market conventions and regulatory requirements.

Job Dimensions:

Financial Responsibility

• Revenue generation for the Bank through optimal investments that earn maximum possible interest income.
• Proactive management of liquidity and cash flows ensuring availability of sufficient liquid assets and funding lines that minimize cost of funds for the Bank.
• Management of department unit operational costs within budget.

Job Specifications

Academic Qualifications

• Bachelor’s degree in accounting, business, economics or finance from a recognized institution.
• Master’s degree in business related discipline or its equivalent from a recognized institution will be an added advantage.
• Professional Qualifications / Membership to professional bodies/ Publication
• ACI dealing certificate or its equivalent.
• Completion of ACCA / CPA / CFA or its equivalent is an added advantage.

Work Experience Required

• Over ten (10) years’ relevant experience in Treasury ALM with four (4) years or more in a senior management role in a similar sized organization.

Competencies:

Generic Competencies

• Market intelligent with good understanding of financial markets drivers and undertakings.
• Ability to communicate effectively, negotiate and write impactful reports for senior management use.
• Ability to articulate and perform Funds Transfer Pricing (FTP) modelling is a key component.

Skills and Attributes

• Good knowledge and understanding of the Central Bank, Banking Acts and Basel developments and their implications on the Bank as well as mechanics of the money market and fixed income operations.
• Excellent analytical skills - ability to analyze and interpret economic data.
• Strategic thinker and problem solver - ability to make speedy and accurate decisions under pressure.
• Consensus builder and team leader – ability to bring together various parts of the Bank to achieve a common balance sheet objective.
• A strong understanding of risk management - resilient and risk tolerant to minimize/mitigate inherent risks within the desk, department and bank.
• Technical analysis and possess commercial acumen. Computer literacy is a must.
• Good understanding of financial and capital markets.
• Fixed income analysis for appropriate investment positions dealing.
• Self-motivated and ability to work with minimal supervision.
• Possess good interpersonal and communication skills and ability to convince others.
• Ability to supervise, manage the team and encourage teamwork - ability to motivate team members to perform to their fullest capabilities.
• A good understanding of micro and macroeconomics to interpret likely currency and interest rate trends both locally and on the international markets.
• Strong knowledge of banking, bank products and treasury instruments.
• Comprehensive understanding of the Treasury function from end to end including the back-office processing component and middle office activities and requirements.

Work Hours: 8

Experience in Months: 120

Level of Education: bachelor degree

Job application procedure

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