Job Openings at Rand Merchant Bank (RMB)

REF: RMBN/ICM/112021

Level: Mid-Senior

Role Purpose

• The purpose of the position is to have a strong and experienced internal control manager in the risk department who will be responsible for designing and implementing internal control procedures as well as processes to ensure the bank operates under a robust and versatile control environment.

Key Job Objectives

• Ensuring a system of internal controls encompassing the bank’s significant activities is clearly defined and documented.
• Ensuring a risk-based and systematic approach to the testing of these controls is in place.
• Allocating resources and setting frequencies, selecting subjects, determining scope of work and application of necessary techniques to ensure adequate controls are in effect bank-wide.
• Manage / mitigate asset losses in the group from fraud, negligent activities and fines from regulatory authorities.
• Ensure accurate recognition of Income with regard to financial reporting.

Responsibilities
The successful candidate will be responsible for:

• Creating and updating control policies and procedures in line with the developments in the industry (especially from regulatory authorities); ensure bank-wide compliance with policies and procedures
• Drive control functions to ensure strict compliance with oversight of and approved timetable for correction of exceptions
• Maintain a culture within the bank that emphasizes and demonstrates the importance of internal control to build strong awareness in staff on policy and procedures issues
• Ensure adequate protection of the Bank’s assets: financial, physical etc. through appropriate monitoring
• Review transaction tickets where applicable to ensure compliance in transactions processing and authorization and investigate processing errors
• Conduct independent spot checks on various units and identifying problem areas and offering recommendations to improve the control environment
• Ensure effective compliance with agreed limits of authority, levels of access to systems / information and provide assurance of a strong compliance environment to ensure zero operational losses and no policy / regulatory infractions.
• Keep track of sensitive processes to ensure compliance with regulatory directives across key units within the Bank.
• Liaise with business stakeholders in ensuring that regulatory, group policy standards, minimum operating procedures regulatory & routine controls are observed effectively to minimise the Bank’s exposure to risk.
• Review of past Internal & External audit / Control recommendations / regulatory reports / fraud trends to identify exceptions raised and key lessons learnt in order to track remedial action / compliance within agreed timelines and ensure adequate controls to prevent repeat findings
• Review of Head Office GL / Income a/cs to ensure that all entries are processed promptly and no income leakages.
• Prompt Rendition of control activity report weekly / monthly to CRO / Designated Manager
• Ensure that all routine controls relating to new products developments and business developments are applied effectively, with particular emphasis on routine compliance.
• Ensure the strict compliance to the Internal Control plan / chart for the year
• Coordinate adhoc investigation at the instance of the CRO/CFO/CEO
• Generation of Internal Control initiatives to drive process efficiency and effectiveness.

Qualifications and Experience

• 5 - 7 years internal audit and internal control experience in the banking or financial sector and strong technical skills.
• Qualified Chartered Accountant, ACCA, ACA, or its equivalent will be an added advantage
• An appreciation of regulatory and legal requirements across different products and business lines
• Strong academic record.

Competencies:
Technical and General Skills:

• Knowledge of CBN banking regulations, Basel 2/3, SEC regulations, AML/CFT Regulations and any other regulatory policy pertaining to banks and other financial institutions
• Knowledge of the workings of the banking sector, and merchant banking in particular
• A good understanding of typical merchant banking transactions.
• A high competence in risk assessment
• Good writing abilities with a high level of competence in clear communication
• Computer literate (MS Office / e-mail)
• A high level of pragmatism tempered with the strength to stand firm where necessary
• Strong decision making and interpersonal skills
• Team player
• Additional competencies (will serve as strong recommendation)
• Post-graduate studies / qualifications in banking, finance / financial markets.

Human Relations Profile:

• Strong character & integrity paramount
• High degree of self-confidence; pleasant personality; well presented
• Well organised / good time management skills / disciplined
• Self-starter able to work with minimal supervision
• Team oriented
• Able to deal with criticism
• Ability to work under pressure.

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REF: RAML/PM/10/21
Level: Mid-Senior

Role Purpose

• To plan, direct and coordinate investment strategies and operations for mutual funds and assets under management by the company.
• Ensure an investment product delivers against the objectives / investment management guidelines / agreements communicated to its investors and in compliance with all appropriate guidelines, policies and procedures, adhering to all laws and regulations, and in a manner that adopts best practice fund / portfolio management.
• In addition, to also provide financial advice and services to private and corporate clients about a range of investment classes.

Responsibilities
The successful candidate will:

• Develop and maintain investment strategies and plans and obtain appropriate approvals as required
• Develop and implement fund investment policies or strategies
• Manage the design and execution of annual investment plans in line with approved overall plans
• Monitor investment and operational performance of products and individual investments and take actions necessary to ensure product portfolio meets stated performance targets and stays within risk and regulatory tolerances (including volatility, liquidity, diversification, concentrations and leverage)
• Evaluate the potential of new product developments or market opportunities, according to factors such as business plans, technologies, market potential, regulatory requirements, among others
• Find and select specific investments or investment mixes for purchase by an investment fund
• Develop models that compare value and risk among securities across the capital structure of individual portfolio / funds under the entity’s management, conditional on fundamental financial data, and potentially use this information to structure long/short market neutral strategies
• Develop models that assist in the understanding of the impact that portfolio management decisions have on overall portfolio risk
• Monitor regulatory or tax law changes to ensure fund compliance or to anticipate and take advantage of development opportunities emerging in the market
• Attend investment briefings or consult financial media to stay abreast of relevant investment markets
• Perform or evaluate research, such as detailed company or industry analyses, to inform financial forecasting, decision making, or valuation
• Develop, implement, and monitor security valuation policies
• Drive performance reporting and investor relations, ensure compliance monitoring
• Interface effectively with multidisciplinary teams including accounting, asset management, finance and investor relations
• Perform other duties and responsibilities as required by the Company.

Qualifications and Experience

• Bachelor's Degree in Finance, Statistics, Mathematics, Economics, Accounting or other Relevant Discipline
• MBA or similar post-graduate and/or professional qualification.
• Registration with Nigeria’s Securities & Exchange Commission (SEC) as a Sponsored Individual for the applicable function is a requirement
• A minimum of 8 years work experience in the Finance industry of which at least 5 years must be in Asset / fund management area;
• Statistics, Economics, Mathematics, Accounting, Decision Making, Problem Solving,
• Demonstrable Asset Management background and knowledge & understanding of the Capital Markets.

Competencies:
Technical Skills:

• Technical / advanced analytical and model building skills
• Keen interest in and understanding of financial markets
• Technical/business process knowledge
• Demonstrate sound knowledge of multiple asset classes including money market, fixed income and equity.

General:

• Good interpersonal skills
• Strong decision-making skills
• Good verbal and written communication skills
• Attention to detail.

Human Relations Profile:

• Strong character & integrity
• High degree of self-confidence; pleasant personality
• Well organized / disciplined
• Team oriented
• Flexible when necessary
• Ability to work under pressure
• Self-motivated.

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REF: RAML/CO/10/21
Level: Mid-Senior

Role Purpose

• The Compliance Officer will be responsible for end-to-end compliance functions for the business, regulatory reporting and group office reporting.
• He/she will also make recommendations to the Business regarding interpretation and implementation of policies, procedures, and processes to address live and/or potential regulatory compliance issues.
• This role aims to support and facilitate the company’s business to be conducted and supervised in compliance with applicable laws, regulations and firm policies

Responsibilities
The successful candidate will be responsible for:

• The identification, communication and tracking of regulatory changes and analyzing the impact of such changes for the company
• Identifying potential areas of compliance vulnerability and risk to aid in the development and implementation of corrective action plans for resolution of such vulnerabilities
• Regulatory Liaison: Responding to correspondences and inquiries from regulatory authorities, and government agencies, as well as proactively liaising with them to resolve all Compliance-related issues.
• Rendition of Returns: Rendition of quarterly returns to SEC or any other reports that may be required by relevant regulators and provision of information for half yearly returns to client companies.
• Compliance Monitoring: Supporting the implementation, continuous improvement and monitoring of AML (Anti-Money Laundering) and CFT (Counter-Terrorism Financing) programmes across the organization.
• Threat Assessment: Identifying potential areas of compliance vulnerability and risk, as well as drive development and implementation of corrective action plans for the resolution of problematic issues.
• Exception Management: Providing support to the team by following up with relevant parties in resolving exceptions raised in Regulators’ audits.
• Stakeholder Management: Proactively seek to build mutually beneficial, and trusting relationships with both internal stakeholders, and external stakeholders (i.e. regulators), with the aim of delivering operational impact.
• Developing and implementing policies and procedures that are designed to detect and prevent violations of the securities laws and mitigate various types of risk, including compliance and operational risks.
• Providing guidance to the business as necessary on compliance, client guideline interpretation and regulatory issues on existing and potential products / business initiatives
• Continuously review existing policies, procedures and surveillance activities to seek to modify and improve the compliance program
• Acting and the coordinator of the combined risk profile for the business by facilitating and overseeing risk reporting and engaging with risk counterparts in South Africa
• Oversight of portfolio compliance, which includes adherence with client investment mandates, regulation, house rules and industry standards
• Conduct of compliance monitoring reviews with the dotted line to FirstRand Group monitoring excellence.

Qualifications and Experience

• B.Sc. Degree in relevant field (preferably in Finance or Law). Post graduate degree will be beneficial
• Minimum of 8 years of work experience (with a minimum of 5 in Compliance role).
• Registration with Nigeria’s Securities & Exchange Commission (SEC) as a Sponsored Individual for the applicable function is a requirement.
• Risk management, or auditing experience from which knowledge in internal control and risk management was obtained, an added advantage • Asset management industry experience, including mutual fund business
• Knowledge of Market and Regulatory Environment.

Competencies:
Technical Skills:

• Technical / advanced analytical and model building skills
• Keen interest in and understanding of financial markets
• Technical / business process knowledge
• Demonstrate sound knowledge of multiple asset classes including money market, fixed income and equity.
• Knowledge and understanding of the market and regulatory rules / operating environment and ability to interpret regulations.

General:

• Good interpersonal skills
• Team player and good collaborator
• Strong decision-making skills
• Good verbal and written communication skills
• Attention to detail.

Human Relations Profile:

• Strong character & integrity are paramount
• Self-confidence, with a pleasant personality
• Well organized / good time management capabilities / disciplined / detail orientated
• Self-starter able to work with minimal supervision
• Strong work ethic and ability to operate in a fast-growing environment
• Flexible when necessary and ability to work effectively under pressure
• Team oriented.

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REF: RMBN/DTST/11/21
Level: Mid-Senior

Role Purpose

• RMB Nigeria is looking to appoint a Transactor within the DTS team.
• The individual must be an entrepreneurial self-starter that has the energy and passion to develop RMB’s Banking business.
• The successful candidate will be required to provide term lending, trade finance and DCM solutions to clients based in West Africa (primarily Nigeria and Ghana).

Responsibilities

• Responsible for achieving Strategy and Budget numbers for the product set, in conjunction with the team.
• Assist with developing innovative structuring solutions for trade finance using: Cash and Trade Collateral, Insurance, DFIs and other risk mitigants.
• Assist with growing loan solutions portfolio for the bank using various structured and plain vanilla lending products.
• Establishing new, and maintaining existing client/partner relationships, in conjunction with the Coverage team to ensure profitable investment banking styled, debt focused deal flow.
• Developing strategic relationships with Corporate Clients that have been identified as key to the Bank’s strategy together with Client Coverage
• Converting new leads into deals closed, from origination, through structuring, the soliciting of Credit Approval and deal implementation, closure and aftercare.
• Assist with the origination, structuring and implementation process around bespoke lending, trade finance and DCM solutions.
• Drafting detailed deal screen memos, including fundamental financial analysis and models and independent research using a variety of data sources
• Conducting debt capacity analysis as well as putting together pitches and proposals and executing them Participating in discussions with management regarding bespoke deal structuring
• Managing the transaction execution process for multiple ongoing deals
• Implementing transactions by the preparation or managing the preparation of complex multiple jurisdiction documents and compliance with all required procedures, laws and regulations.
• Close transactions by obtaining the relevant internal approvals for the transaction and leading or actively participating in the successful conclusion of negotiations
• Rating and pricing structured trade finance transactions and term funding according to a formalized Credit Rating Methodology, with assistance from Structuring team.
• Identifying transaction specific risks including credit, compliance, taxation, accounting and legal.
• Manage the credit approval process in conjunction with Client Coverage
• Building on the existing strong relationships with the Credit and Market Risk teams, Legal and Compliance functions and Middle and Back office areas.

Other:

• Cross-selling of bank products / opportunities to its clients
• Internal stakeholder relationship management.

Qualifications and Experience

• B.Sc. in Economics, Accounting and Finance or any Finance or Social Science related courses with a minimum of Second-Class Lower division.
• Additional relevant certification and a MBA are recommended
• At least 6 to 10 years experience in banking, working with Lending & trade solution products in Nigeria. Other African experience also advantageous.

Additional:

• Post-graduate studies / qualifications in banking, finance / financial markets
• Proven experience in structuring and implementing working capital and supply chain solutions for clients
• A sound understanding of forex markets will be beneficial.
• Existing strong Nigerian Corporate relationships.

Competencies:

• Good financial modeling skills
• Good analytical, numerical and writing skills.
• Advanced level product/processes knowledge
• Broad knowledge of Tax, Law and Accounting (an understanding of the taxation of companies, knowledge of the law of contracts, financial institutions and shareholders will be advantageous)
• Good understanding of credit analysis and debt structuring.

General:

• Proficiency in Microsoft Office suite
• Good judgment and decision -making skills
• Strong interpersonal skills, and
• Listening, analysis and debating skills.

Business Skills:

• Good report writing skills (reports are presented to the business and FICC Credit Committees).
• Ability to critically assess the commercial viability of clients’ business models and operations, identifying viable lending / financing opportunities.
• Ability to originate, critically assess, develop and close structured trade and commodity finance transactions.
• Ability to analyze company financial statements, interpret corporate credit quality and to identify and quantify business and financial risks from a lending / credit perspective.
• A passion for structured lending and investment banking generally, and commodity markets and structured (trade) finance specifically.
• General understanding of a variety of financial derivative products and instruments will be a distinct advantage.
• A good understanding of corporate credit ratings, portfolio theory and credit pricing will be a distinct advantage.
• Effectively prioritizing and managing heavy workload in a fast-paced, deadline-oriented environment.
• Creating new trading strategy and improving the existing ones to cope with changing market scenario.
• Comprehensive understanding of industry regulations & all other regulatory requirements.

Human Relations Profile:

• Strong character & integrity paramount
• High degree of self-confidence; pleasant personality; well presented
• Well organized / good time management skills / disciplined/ detail orientated
• Self-starter able to work with minimal supervision
• Team oriented
• Flexible when necessary
• Ability to work under pressure
• A strong communicator who is deadline and solutions-driven.
• Strong work ethic and able to operate in a fast-changing environment (building a business).
• Able to work as part of a highly innovative and competitive team, meeting demanding deadlines.
• A high degree of professionalism and business acumen.

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REF: RMBN/ORA/112021

Level: Mid-Senior

Role Purpose

• The RMB Nigeria Risk and Compliance Department is responsible for the end-to-end management and oversight of all categories of risk and governance in RMB Nigeria.
• The risk function within the entity is not only an oversight function but is expected to get involved in the day to day functional reporting and management processes insofar as there are no conflicts of interest.
• This creates the opportunity for broad based integration into the business.

Responsibilities
The successful candidate will primarily be focused on providing operational support to the ORM in ensuring the overall operational risk objectives are met. This will include:

KRIs:

• Monitor entity-wide compliance in terms of capture and approvals by due dates and escalate gaps appropriately to the ORM
• Monitor and ensure all KRI breaches have requisite action plans in place
• Support the ORM with organizing KRI setting or review sessions with businesses.

PRCIA:

• Support the ORM with organizing PRICA setting or review sessions with businesses
• Monitor PRICA review calendar and prompt both the ORM and Businesses for reviews coming due Reporting
• Prepare operational risk reports as may be assigned by the ORM or CRO
• Ensure items that needed to be loaded on open pages such as loss events and PRCIA are promptly updated.

Others:

• Take on assignments as directed by the ORM or CRO
• Participate in governance meetings for OpRisk
• Log all operational risk incidents on OpenPages
• Ensure all OpRisk event logs are reviewed and approved within stipulated timeframes
• Provide general administrative support in all OpRisk departmental activities.

Qualifications and Experience

• Candidates should have a relevant Graduate degree and at least 2 - 5 years of work experience preferably having worked as an entry-level professional in investment banking, accounting, audit, management consulting, or related fields, and who is interested in working in a small team environment with a high degree of client contact.
• Experience in MS-Excel financial modeling, including detailed income statement forecasting and scenario analysis, capital structure modeling and M&A modeling.
• Candidates should be self-motivated to take on multiple tasks, should enjoy working in a constantly changing environment, have strong attention to detail, interact well with others and enjoy working within a team-based environment.

Competencies:

• Post-graduate studies / qualifications in banking, finance / financial markets
• Ability to assess financial risk.

Human Relations Profile:

• Strong character & integrity are paramount
• Self-confidence, with a pleasant personality
• Well organized / good time management capabilities / disciplined / detail orientated
• Self-starter able to work with minimal supervision
• Strong work ethic and ability to operate in a fast-growing environment
• Flexible when necessary and ability to work effectively under pressure
• Team oriented.