Jobs at Rand Merchant Bank

Responsibilities:

The successful candidate will:

• Assess financial transactions, which include(s) an assessment of products (i.e. derivatives) and structures used.
• Assess counterparty credit risk, which includes the following:
• Assessment or understanding of the operating environment (i.e. country, industry, regulatory and legal risk) and how it impacts the risk profile of the counterparty.
• Spreading and modelling of financial statements.
• Analysing and interpreting financial statements.
• Quantitative and qualitative assessment to identify and quantify the financial and business risks of the counterparty.
• Assign credit ratings to counterparties by using internally approved rating methodologies and models.
• Write credit reports and prepare credit applications and financial models to be presented to the relevant committees.
• Present credit applications and reports to various credit committees and forums.
• Monitor financial covenants and financial risks for credit reporting.
• Ongoing evaluation and monitoring of counterparties and facilities.
• Ongoing monitoring and management of portfolio, which include making recommendations and/or providing input to further develop the bank’s lending policy..
• Liaise with various business units, divisions and subsidiaries within the FirstRand Banking Group.
• Interact with clients.

Qualifications and Experience:

• A tertiary education with a financial background, with a minimum Second-Class Upper division or equivalent.
• At least five years of credit analysis experience, preferably within a large financial institution or five year’s experience in financial markets in a consulting/auditing capacity.
• Modelling, assessing or advising on financial and business risks should form part of this experience.
• A sound understanding of Treasury and Financial Markets products (i.e., derivatives) is required.

Technical Skills and General Competencies:

• General knowledge of practical economics relating to business, industry and the Nigerian macroeconomic environment.
• Knowledge and understanding of the Companies Act, Commercial Law, legal issues relating to security, exchange control and other relevant legislation or regulatory requirements, including IFRS, Basle II and III.
• Knowledge and understanding of the taxation of companies, financial institutions and shareholders.
• Good understanding of financial instruments products (i.e., derivatives) and markets.
• A good understanding of credit ratings, portfolio theory and credit pricing.

Key Competencies:

• Develop an in-depth knowledge of specific operating environments (i.e., country, industry, regulatory and legal risk) and how it could impact on the risk profile of the counterparty and specific transactions.
• Develop an in-depth knowledge of specific sectors and clients as part of a specific industry research team.
• Assessing financial transactions, which include derivatives and other product structures in order to identify credit and other risks pertaining to vanilla and exotic derivative structures.
• Identifying transaction specific risks including credit, taxation, accounting, legal and exchange control pertaining to transactions. • Assessing counterparty credit risk.
• Introducing risk mitigating measures as input to transactions in line with the risk philosophy of the Bank.
• A good understanding of the Bank’s credit risk appetite, credit grading and credit pricing models.
• A general understanding of trends in the global lending market with a view to providing input into the bank wide lending policy development process.

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.
• Flexible when necessary and ability to work effectively under pressure.
• Strong work ethic and able to operate in a fast-changing environment (building a business).
• Excellent communication skills (i.e., verbal, writing and presentation skills). Ability to work with a team and/or independently.

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This role involves managing the entire onboarding process, ensuring that clients have a positive experience from the outset, and addressing any issues that arise during the transition. This role involves developing and implementing strategies to enhance the overall client experience, addressing client concerns, and fostering strong relationships with clients

The successful candidate will be responsible for:   

KYC /Onboarding:  

• Drive the account opening process end to end ensuring regulatory compliance, completeness, and reporting  
• Ensure and sustain a customer-centric business culture, leveraging on the RMBN bouquet of products and services 
• Awareness and understanding of the regulatory framework, in which the business operates, and the regulatory requirements and expectations relevant to the function 
• Steward regulatory and day-to-day engagement with coverage, product, and compliance on all KYC requirements and processes 
• Ensure KYC refresh is in accordance with the risk profile and anniversary date 
• Oversee profiling and maintenance of PEP classification and other high-risk documentation 
• Ensure clients’ Risk Rating is processed at onboarding and continuous reviews as well as Enhanced Due Diligence if needed 
• Drive cross-selling of RMBN products & services through the customer service desk to maximize the bank’s share of the wallet  
• Collaborate with the business teams to onboard new customers, ensure KYC compliance, KYC maintenance or refresh exercises 
• Promote high ethical and integrity standards, establish a culture within the bank that establishes and demonstrates to all personnel the importance of KYC and customer service 
• Active participation in the unit’s audit and regulatory examinations 
• Drive frequent review of governance manuals and processes in line with industry best standards and regulatory guidelines in Nigeria and SA   
• Ensure adequate resources are made available for operational efficiency and effectiveness Inform and respond to market and regulatory change to ensure customer excellence and regulatory compliance 
• Drive change management and process improvement to enhance efficiency and effectiveness  

Account Management Duties:  

• Performs the initiator or maker role  
• Verify and confirm completeness of documents as well as necessary due diligence before profiling  
• Maintain and update clients’ information on the bank’s operating system and other required platforms for transaction alerts, account statements etc. per the requested frequency 
• Initiate account management-related activities such as opening, and closing accounts etc. 
• Review and maintain accurate up-to-date clients’ mandate folders  
• Ensure the signatory lists on the relevant systems are updated timely to avoid any operational loss to the Bank 
• Responsible for the client's request for the addition and removal of authorized officers 
• Develop process improvements to enhance efficiency and effectiveness 
• Continuous Account Maintenance and ensure correct status is maintained on the relevant system

Qualifications and Experience:  

• An undergraduate degree in a relevant discipline
• Minimum of seven years of relevant working experience within a Nigerian bank or financial institutions

Competency and General Skills:

Key Competencies 

• Result-oriented and driven - A self-starter who produces a consistently high quality of output within agreed 
• deadlines. Prompt and proactive in driving for results and has problem-solving aptitude. 
• Creative / Innovative - Must possess the ability to identify and initiate more efficient ways of doing things. 
• Detail - Must possess a strong level of attention to detail, and accuracy and be well organized, which are  considered essential for regulatory reporting. Must also possess the ability to process and work with large volumes of data. 
• Good communication skills - Must possess the ability to communicate and debate views effectively, constructively, and convincingly using verbal and non-verbal means.  
• Relationship-building capability - Must possess the ability to put people at ease and build sound relationships based on mutual trust and openness.  

Human Relations Profile   

• Ability to strike and maintain good client relationships.   
• 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 and able to work effectively under pressure