Head, Product Control

3 weeks ago

Nairobi, Kenya I&M Bank Full time

I&M Bank is a wholly owned subsidiary of I&M Holdings Limited, a publicly quoted company at the Nairobi Securities Exchange (NSE). The bank possesses a rich heritage in banking.

Job Purpose
The role holder provides Group balance sheet optimization analytics and supports Treasury Markets business strategy, transaction flow, accounting, validation, and valuation.
Key Responsibilities

Leading the Product Control and 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 stabilization.
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 for Group and subsidiaries.
Driving management actions and interest rate risk in the banking book (IRRBB) strategies that eliminate ROE drags and enhance returns.
Cash flow projection and modeling of liabilities and assets behavioral profiles that support optimal balance sheet management and strategic funding mix.
Working as a partner with Treasury Markets to ensure Product Control understands the business plans and has in place the required controls to support these plans, as well as understanding the impact from change initiatives in other functions to see where PC can either facilitate or benefit from these initiatives.
Driving consistency in the Group approach across all the processes as well as in the application of accounting policy, valuations methodology and IT infrastructure to strive for best practice across all subsidiaries.
Preparation of the ALCO and GALCO Packs in coordination with other departments and ensuring proper minutes documentation and timely follow-up on action items.
Responsible for identifying, communicating and driving forward the resolution of issues across people, process, policy or system.
Ensuring incidents are promptly escalated and putting in place appropriate remediation plans looking across the global estate.
Identifying opportunities to enhance cost efficiency through automation and centralization.
Supervisory review of the Daily P&L for subsidiaries as well as sign-off on all the daily Treasury Markets controls such as Trader estimate to actual variances, Off-market deal exceptions, Permitted instrument exceptions, Stop loss breaches, attribution and commentary and communicating these to the Head of Treasury Markets.
Review of the daily Off Market and Cancel/Amend exceptions with the Treasury Markets traders to maintain a strong control environment for trading activity.
Review of funds transfer pricing, ensuring appropriate execution of Interest rate risk strategies.
Ensure appropriate Due Diligence is carried out for any new product being launched in Treasury Markets taking into account factors such as system architecture, adequacy of current control processes, capital usage, accounting treatment and reporting.
Consistent implementation of Group standards for Product Control across all subsidiaries. This includes the control framework around the P&L and Balance sheet such as P&L analysis, Off-market rate checking, SOFR Benchmark rate submissions and Balance sheet substantiation.
Implement a Valuation framework for derivatives relevant for the market conditions in the countries, and also consistent with the methodology applied globally.
Manage a continuous improvement program for all activities to increase efficiency and controls through process changes, systems implementation, centralization and training.
Undertake re-engineering of processes that were failing to deliver effectively in the current environment.
Build and implement tactical solutions to resolve valuation issues as well as to provide appropriate data for senior management review.
Assisting in staff development and recruitment where appropriate.
Ensure SLAs adherence and assist in streamlining processes and procedures.
Liaise with other departments to ensure we work as team to create efficiency in our work.
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.
Drive clean audit results, identify process improvements, and deliver continuous enhancements.
Perform other duties assigned by line manager.

Financial Responsibility:

Recommend and agree accounting events, valuation methods and control that have direct impact on accounting, financial reporting, and effectiveness of controls in the accounting and valuation systems for Treasury transactions from initiation to final ledger/General ledger.
Performance and analysis of balance sheet optimization outcomes, Treasury business, gap analysis, hedge effectiveness in P&L, and risk management products.

Person Specifications
Professional Qualifications / Membership to professional bodies/ Publication

ACCA / CPA / CFA
ACI Operations
Risk Management Qualifications

Academic Qualifications

Bachelor of Commerce in Finance / Accounting

Work Experience.

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

 Competencies

Planning & Organizational skills
Analytical skills and attention to detail
Strong oral and written communication skills
Interpersonal skills to manage stakeholders at all levels
Ethics and integrity
Excellent judgment and analytical abilities and impeccable integrity.
Strong commercial awareness and an ability to connect to business goals
FX Global Code of Conduct.

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