The Nairobi Securities Exchange (NSE) is a company licensed by the Capital Markets Authority (CMA) to facilitate the trading of financial products through the provision of a trading platform for listed securities.
In line with this, the NSE is seeking to recruit suitably qualified, dynamic, self- motivated and results- oriented individuals to fill the following position:
Risk Manager, Derivatives
Overall Purpose: This position is responsible for the management of risk as pertaining to the derivatives market.
Key Duties and Responsibilities
i) Carry out risk and internal controls examinations and include reviews of the following areas:
- Ensuring adequacy of resources and systems used for risk management; and compensation or other incentives that may adversely impact independence;
- Market risk in exchange trading, clearing and settlement activities and firm assets, including VAR (value at risk), economic models (margin methodologies), scenario analyses, stress testing, and daily back testing;
- Funding, liquidity and credit risks, including counterparty credit risk across all products and businesses, credit limits, pricing models, valuation, guarantees, collateral, margin, and settlement and legal risks;
- Operational risks, including segregation of duties; checks and balances; protection of client funds and securities; controls to prevent identity thefts, phishing attacks, and inappropriate release of sensitive customer information; operating systems; management information systems; management reporting; front and back office operations; security; and contingency planning and disaster recovery;
- Utilize system infrastructure and control framework knowledge to recognize and challenge potential infrastructure efficiencies and control gaps, and proactively partner with own colleagues and other teams in the development of both infrastructure and control improvements and major enhancement projects, including comparing and evaluating multiple courses of action and selecting and implementing the most appropriate resolution for the business; and
- Ensure that new products and activities are assimilated into the risk management system in a timely and appropriate manner.
ii) Risk & Control Operations – supports the firm by ensuring the integrity of books and records, assessing regulatory requirements, and interfacing with regulators frequently;
iii) Ensure a well-documented system of internal controls designed to manage material risk exposures which will enable the Exchange management to identify, analyse, and manage the risks inherent in the firm’s business activities with a view to safeguarding the organisational physical and IS assets and preventing significant losses; and
iv) Provide the Exchange with critical control indicators that assess economic, regulatory, and operational risks, while providing support to the Operations Division Risk Framework.
i) Bachelor’s Degree in analytical science or financial related subject;
ii) Appropriate professional qualification – professional training/ certification in financial instruments and markets, mathematical foundations of risk measurement audit will be an added advantage;
iii) Minimum 6 (six) years relevant professional experience in trading, dealing and clearing in financial markets, market risk management gained from an organization with a strong internal control framework, preferably financial institutions;
iv) High attention to detail, accuracy and risk awareness;
v) Strong risk & quantitative analysis, organizational and interpersonal skills; and
vi) A dynamic self-starter with ability to prioritize and to work independently as well as in a team.
vii) Exposure to the financial services industry is essential, preferably in cash or derivatives markets;
viii) Ability to deal with Regulators & Market Participants on issues concerning Clearing & Settlement related Risk Management and Global Regulatory Development in this area;
ix) High level of Proficiency in using Advanced Functions of Excel and using the same for Model Development;
x) Working knowledge of varied risk management and information systems will also be a plus;
xi) Familiar to internationally driven standards relating to financial market infrastructures; and
xii) An appreciation of global risks and their impact on local economic dynamics.