The Manager - Market Risk is responsible for safeguarding the institution's financial stability by proactively identifying, analyzing, and mitigating market- related risks. This role ensures that potential risks are assessed in advance and appropriate precautionary measures are implemented to minimize their impact on investments and the overall financial condition of the institution. The position plays a critical role in developing and maintaining robust risk management frameworks aligned with regulatory requirements and best practices.

KEY RESPONSIBILITIES

Under the supervision of the Chief Risk Officer (CRO), the following are among the job key responsibilities:

GENERAL OPERATIONS

Assist the CRO in conducting the Bank's business in an effective, responsible, and ethical manner aligned with Board- approved strategies. Implement policies and strategies approved by the Board and communicate them to relevant staff. Establish adequate internal controls supported by an effective internal control function. Provide timely and relevant reports to the Board on risk management strategies, exposures, compliance, and practices. Oversee the development and implementation of the Bank's Risk Management function, including risk structure and reporting lines. Support the development of the Bank's risk culture, risk appetite, and risk limits structure. Monitor risk- taking activities and exposures to ensure alignment with approved risk appetite and capital/liquidity needs.

Establish early warning systems for breaches of risk appetite or limits. Develop and coordinate stress testing frameworks and scenarios. Influence and challenge material risk decisions where necessary. Drive risk management processes toward best practice. Ensure risk management infrastructure (data architecture and IT systems) evolves with business complexity. Maintain accurate internal and external data for risk identification, assessment, and strategic decision- making. Ensure comprehensive risk identification and assessment processes, including emerging risks. Coordinate compilation of the Bank's Internal Capital Adequacy Assessment Process (ICAAP). Advise senior management and the Board on material risks. Provide input into fraud prevention, business continuity, and disaster recovery plans. Develop and implement risk registers for all business units. Facilitate orientation and training for Risk Committees and staff on risk management principles. Communicate risk management policies, strategies, and implementation plans to stakeholders. Sensitize management on the need for regular risk assessments for all material risks.

RISK REPORTING

Receive periodic reports from business units, review trends, aggregate data, and compile monthly reports on all material risks for senior management. Submit quarterly risk reports to the Board of Directors.

MIDDLE OFFICE

Match positions in the system with the dealer's blotter. Check that all transactions on the dealer's blotter are within board-approved rates. Ensure all customer dealing mandates are duly signed and kept on record. Process and sign ISDA documentation for swaps and derivatives where applicable. Verify appropriate yield levels for mark-to-market of trading portfolios. Confirm accounting deals recorded by the back office. Verify the Bank's profit and loss from trading activities. Confirm deals executed by the back office. Ensure dealings with counterparties operate within approved limits. Ensure all dealers operate within approved limits. Check rates used when revaluating positions. Ensure assumed risk is properly estimated and expected return is compared to actual return. Review all trades to prevent fictitious transactions. Measure the Bank's exposure to foreign exchange, liquidity, and interest rate risk using appropriate tools. Analyze and monitor risk limits for liquidity, FX, and interest rate risk to ensure compliance with risk appetite. Report and initiate remedial action for breaches of tolerance limits. Prepare risk reports for submission to the Bank of Zambia. Ensure Treasury activities comply with the Bank's Asset Liability policy and regulatory requirements. Monitor developments in local and global money markets and advise management on trends. Review counterparties to ensure compliance with acceptance criteria and mitigate credit/reputation risk.

Conduct stress testing on market and liquidity risk positions.

OTHER DUTIES

Undertake assignments as directed by the Chief Risk Officer.

REQUIRED SKILLS AND ATTRIBUTES

- Strong analytical and data interpretation skills.

- Decision- making and strategic planning abilities.

- Deep understanding of market risk and risk management frameworks.

- Excellent interpersonal, communication, and negotiation skills.

QUALIFICATIONS AND EXPERIENCE

- Degree in Finance, Economics, Risk Management, or related field.

- A Master's degree in any of the above fields will be an added advantage.

- Professional certifications such as FRM, CFA, or equivalent would be preferred.

- Minimum of 5 years' experience in Treasury and Risk Management, with at least 2 years in Treasury, Market Risk or Back Office.

- Knowledge of regulatory requirements and risk management best practices.

- Must be having a ACI Dealing/Operations Certificate/Diploma.

• Assist the CRO in conducting the Bank's business in an effective, responsible, and ethical manner aligned with Board- approved strategies.
• Implement policies and strategies approved by the Board and communicate them to relevant staff.
• Establish adequate internal controls supported by an effective internal control function.
• Provide timely and relevant reports to the Board on risk management strategies, exposures, compliance, and practices.
• Oversee the development and implementation of the Bank's Risk Management function, including risk structure and reporting lines.
• Support the development of the Bank's risk culture, risk appetite, and risk limits structure.
• Monitor risk- taking activities and exposures to ensure alignment with approved risk appetite and capital/liquidity needs.
• Establish early warning systems for breaches of risk appetite or limits.
• Develop and coordinate stress testing frameworks and scenarios.
• Influence and challenge material risk decisions where necessary.
• Drive risk management processes toward best practice.
• Ensure risk management infrastructure (data architecture and IT systems) evolves with business complexity.
• Maintain accurate internal and external data for risk identification, assessment, and strategic decision- making.
• Ensure comprehensive risk identification and assessment processes, including emerging risks.
• Coordinate compilation of the Bank's Internal Capital Adequacy Assessment Process (ICAAP).
• Advise senior management and the Board on material risks.
• Provide input into fraud prevention, business continuity, and disaster recovery plans.
• Develop and implement risk registers for all business units.
• Facilitate orientation and training for Risk Committees and staff on risk management principles.
• Communicate risk management policies, strategies, and implementation plans to stakeholders.
• Sensitize management on the need for regular risk assessments for all material risks.
• Receive periodic reports from business units, review trends, aggregate data, and compile monthly reports on all material risks for senior management.
• Submit quarterly risk reports to the Board of Directors.
• Match positions in the system with the dealer's blotter.
• Check that all transactions on the dealer's blotter are within board-approved rates.
• Ensure all customer dealing mandates are duly signed and kept on record.
• Process and sign ISDA documentation for swaps and derivatives where applicable.
• Verify appropriate yield levels for mark-to-market of trading portfolios.
• Confirm accounting deals recorded by the back office.
• Verify the Bank's profit and loss from trading activities.
• Confirm deals executed by the back office.
• Ensure dealings with counterparties operate within approved limits.
• Ensure all dealers operate within approved limits.
• Check rates used when revaluating positions.
• Ensure assumed risk is properly estimated and expected return is compared to actual return.
• Review all trades to prevent fictitious transactions.
• Measure the Bank's exposure to foreign exchange, liquidity, and interest rate risk using appropriate tools.
• Analyze and monitor risk limits for liquidity, FX, and interest rate risk to ensure compliance with risk appetite.
• Report and initiate remedial action for breaches of tolerance limits.
• Prepare risk reports for submission to the Bank of Zambia.
• Ensure Treasury activities comply with the Bank's Asset Liability policy and regulatory requirements.
• Monitor developments in local and global money markets and advise management on trends.
• Review counterparties to ensure compliance with acceptance criteria and mitigate credit/reputation risk.
• Conduct stress testing on market and liquidity risk positions.
• Undertake assignments as directed by the Chief Risk Officer.

• Strong analytical and data interpretation skills.
• Decision- making and strategic planning abilities.
• Deep understanding of market risk and risk management frameworks.
• Excellent interpersonal, communication, and negotiation skills.

• Degree in Finance, Economics, Risk Management, or related field.
• A Master's degree in any of the above fields will be an added advantage.
• Professional certifications such as FRM, CFA, or equivalent would be preferred.
• ACI Dealing/Operations Certificate/Diploma.