Head of Interest Rate Derivatives Trading

Head – Interest Rate Derivatives Trading

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About the business area

Treasury offers a diverse range of conventional and Islamic banking solutions and is responsible for the Group’s funding, investments, and centralized risk management activities. It manages the Bank’s borrowings, issuance of debt securities, and use of derivatives to mitigate financial risk, while investing in a range of instruments, including green bonds, short-term placements, and corporate and sovereign debt securities.

In this role, your key responsibilities include:

• IRD Trading Risk- Manage the Bank’s IRD risk in order to provide liquidity to ADCB’s Corporate and Investment Banking Group (CIBG) clients on the corresponding products
• Decision-Making Authority- Position the IRD book in order to deliver the financial targets within the agreed risk framework. Decide which new ventures and products will be suitable for the development of the business and in line with the Bank’s long term objectives to ensure achievement of set target. Develop, implement and continuously review Standard Operating Procedures (SOPs) and practices for IRD trading to ensure compliance with both internal policy and external regulatory requirements
• Impact- Deliver the necessary results to meet the Trading team’s target, the Treasury and Investment Group target and strengthen franchise growth by supporting Financial Management System (FMS). Maintain shared cash and collateral balances with other units (LCH, IM, FX cash balances, etc), in order to achieve the secondary market requirements dictated by Federal authorities like the Central Bank of the UAE (CBUAE). Effectively manage the IRD business on all fronts in order to support the long-term objectives of the Bank. Drive new ventures and initiatives in order to support the continuous output and deliver results in line with the Bank’s vision and long term strategy
• IRD Products Structuring- Support the structuring of ADCB’s IRD products, engaging support and input from the Bank’s support and delivery channels, to ensure the Bank’s products and solutions remain client-focused and market competitive
• Trading Operations Management- Lead and direct ADCB’s IRD trading activity and capabilities, including pricing and structuring of transactions, risk and investment return analysis and overseeing interactions with other desks and departments, in order to maximize the performance and profitability of the Bank. Oversee all aspects of IRD trading risk management and monitoring of exposure limits, taking corrective action as appropriate, in order to assure the quality and integrity of ADCB’s trading activities. Manage the origination and execution of trades and transactions in accordance with ADCB’s SOPs and risk appetite in order to drive profitability
• Market Intelligence- Lead ongoing market evaluation, due diligence and risk monitoring of the prospective and live trades to ensure that all aspects of risk are appropriately considered and to implement appropriate hedging strategies
• People Management- Manage self and team in line with ADCB’s people management policies, procedures, processes and practices to ensure adherence and to maximize own and employee contribution to business performance . Manage the effective achievement of the team’s objectives through setting individual objectives, managing performance, developing the team and providing formal and informal feedback to maximize overall performance, engagement and motivation
• Policies, Processes, Systems and Procedures- Recommend and implement improvements to departmental policies, procedures and processes covering all areas of activity so that all relevant procedural requirements are fulfilled while ensuring that ADCB delivers best-in-class services, products and innovation
• Continuous Improvement- Identify opportunities to contribute to organizational and departmental change initiatives, programmes and projects taking into account best practice and standards in the business environment
• Customer Service- Demonstrate Our Promise and apply the ADCB Service Standards to deliver the Bank’s required levels of service in all internal and external customer interactions

The ideal candidate should have the following experience

• At least 9 years of experience in progressively more complex and responsible roles in IRD trading
• Bachelor’s Degree in Engineering, Mathematics, Finance or Computer Science
• New pricing capabilities and IT tools developed in-house to strengthen the franchise and market presence
• Able to manage the complexity of the risk generated in a large multi-currency, multi-product rates book
• Able to offer and warehouse illiquid products and monitor performance of illiquid positions
• Able to price complex derivatives and vet system pricing, market data, and internal models used to generate prices and risk
• Able to anticipate Profit and Loss (P&L) of desk based on daily market moves

What we offer:

• Comprehensive Benefits Package: This includes market-leading medical insurance, group life and personal accident insurance, paid leave and leave airfare, employee preferential rates on loans and finance facilities, staff discounts and offers, and children education assistance (for certain job levels).
• Flexible and Remote Working Options: We understand the importance of work-life balance and offer flexible working arrangements, subject to eligibility and job requirements.
• Learning and Development Opportunities: We value and facilitate continuous learning and personal development, through a variety of exciting learning opportunities, such as structured instructor-led courses, a comprehensive e-Learning catalog, on-the-job training and professional development programs.

At ADCB, we are dedicated to creating a respectful, caring and disciplined work environment that aligns with your career ambitions.