The Chief Dealer will be holding a senior position reporting to the Chief Executive Officer / Deputy Chief Executive Officer/Assistant General Manager of the branch.
To maintain the liquidity of the branch and funding of its assets in accordance with procedure and regulatory requirements while maintaining banks reputation and confidence in it in the market place and by applying the branch’s Anti Money Laundering and KYC policies and procedures, where applicable.
Dealing with foreign exchange transactions, money market operations, derivative products and bonds having applied the branch’s Anti Money Laundering and KYC policies and procedures, where applicable.
The main duties and responsibilities include, but are not limited to:
- The buying and selling of major currencies for the bank and customers; concluding deals through web-based platforms; providing market information to the management; formulating short and medium term strategies for liquidity; conducting arbitrage deals for the management of funds; concluding money market deals; and maintaining the liquidity of the branch and the funding of the Banks assets in accordance with regulatory requirement; and the buying and selling on fixed-rate bonds for investment and liquidity purposes. Preparation of related MIS & compliance of various limits, operational guidelines as per the approved Treasury Policy of the Branch and liaising with International Division. Comply with Fitness & propriety and also conduct rules under the Senior Managers & Certification Regime of FCA.
- Formulate short term and medium term strategy for funds management and investment to enhance the yield.
- Formulate strategy for currency deal both for customers and Bank’s account and ensure that the outstanding positions including the position taken by other dealers are within the limits sanctioned and not breaching stop loss limit.
- To provide cover for the banks loan portfolio and investment mostly arranging for funds on a roll over basis as required.
- Utilise the customer deposits for various funding requirements. Accept deposits from various Banks and invest excess funds in inter-bank market. Conduct all foreign exchange transactions – including forward contracts in foreign exchange with an objective to cover customer transactions when they are requested and the Bank’s position when necessary. Liase with management for contingency plans to be adopted in crisis situations.
- Operate the Reuter 3000 Direct Dealer system and concludes FX Spot, Forward outright, Swaps, Arbitrage and Proprietary deal with counterparty banks. Adhere to stop loss limits sanctioned.
- Conclude Money Market transactions in USD, GBP and other major currencies using Reuters , or through brokers within the norms stipulated for such transactions.
- Maintain liquidity position within the stipulated guidelines. Provide the local management market information such as interest rate movement, perception of India, other major economic events affecting our business.
- Manage interest rate risk within the guidelines stipulated from time to time.
- Monitor the interest rate gaps and maintain the same within the stipulated limit.Formulate short term and medium term strategy for funds management and investment to enhance the yield.
- Monitor gap report, Value at Risk report and interest rate risk report daily to keep probable interest rate risk and gaps within permitted level.
- Hedge the gap through Forward Rate Agreement or interest Rate Swaps, in case of any gap.
- Actively participate in the pricing of the Bank’s MTN & hedging of the same.
- Make investments in bonds within the policy framework through Bloomberg, monitoring of price movement, adhering to the stop loss, booking of profit at appropriate level. Analyse and research of market and companies with the help of charts and other available tools.
- Analyse financial information and news and graph analysis for currency movements.
- Liaise with Banks, Brokers, Large Corporates and Management.
- Actively participate in monthly ALCO meetings.
- Monitor open positions under each currency and maintain the same within the limits and reconcile the position with the accounts department.
- Keep the Chief Executive, Dy CEO/Assistant General Manager informed of major market events during the day, which may have impact on our business.
- Motivate other dealers in formulating dealing strategies and be a source of confidence.
- Provide price guidance to Trade finance/Advances department when required.
- Responsible for ensuring submission of all reports to regulators under MiFID II as per policy guidelines.
- Responsible for ensuring submission of relevant reports to regulators/Corporate Office/International Division and also responding to all queries and providing required information.
- Review and monitor various Management Information System such as country risk exposure, liquidity report, Value At Risk, Interest Rate Risk Report, Inter Bank Placement etc.
- To oversee, review and updation of departmental procedures and procedures manuals. This shall include a formal review not less than annually, for presentation to the Management Committee, but also interim changes that shall be documented by way of addendums to the procedures manual.
- To cover at times when the Dealer(s) are on leave.
- Any other duties that may be entrusted from time to time.