Section Head Money Market – Doha Bank

Company: Full Time Jobs in Qatar Sector: Accounting, Finance & Banking
  • Location: Doha, Qatar View on Map
  • Date Posted : April 15, 2024
  • Salary: Negotiable

About the job

The Section Head – Money Markets will lead and manage overall operations of the Money Markets section to maximize profits, in line with the internal policies and regulatory guidelines. The incumbent will oversee and ensure prompt provision of Money Markets solutions to customers within the approved limits and will supervise the execution of Money Market transactions and placement deals. The job holder will supervise and provide guidance to Senior Dealer and Dealers in efficient execution of their day-to-day tasks.

Roles and Responsibilities

  • Contributes towards the formulation and implementation of strategy, annual business plans, policies and procedures of the T&I function, to support organizational business strategy.
  • Work closely with the Department Head – Treasury in the design, development and implementation of Money Market section strategy and KPIs.
  • Update self on the regulatory requirements/changes set by QCB and other relevant government bodies, and, implement adequate changes in the section, including but not limited to staffing of employees, department deliverables etc.
  • Align Money Market dealing/ trading initiatives with the objectives and mission of Doha Bank, and ensure the integration of functional business plans with the overall Treasury and Investments framework, specifically in regard to the Money Market section.
  • Develop and maintain robust working relationships with internal/external stakeholders to facilitate functional / operational/ strategic needs.
  • Formulate, and ensure that the section’s deliverables are within agreed SLAs. Oversee and ensure that timely, accurate and complete analysis/ reports are provided in a timely manner to the respective internal stakeholders.
  • Analyze information on various money market instruments / securities and the financial market via various financial service providers (Bloomberg, Reuters) to understand and support in management decisions in line with the market condition.
  • Review and provide proposals to the management, with recommendation for entering trading and investment decisions, in line with the Qatar Central Bank guidelines and internal bank policies.
  • Define liquidity profiling of the major currencies involved in balance sheet of the bank based on financial market information such as regulator behavior in various monetary policy decisions.
  • Oversee and guide the team in interpreting scheduled and unscheduled financial market data in analyzing the money markets for bank’s internal and external clients.
  • Provide necessary guidance to the team in producing best interest rates to be quoted to various clients for their asset and liability requirements.
  • Review and provide treasury cost of funds, Gaps, maturity ladders and Bank’s overall cost to funds to develop the internal funds transfer pricing model. Present the reports to the Department Head – Treasury in order to present at the weekly Assets and Liabilities management Committee (ALCO).
  • Communicate adequate financial market information for institutional dealing for various departments such as, wholesale Banking, Investments, International Banking and syndication funding.
  • Partner with the respective stakeholders in purchasing short term interbank assets such as Government Treasury Bills, CDs and maintain the bank portfolio for better interest margins while prudently managing the liquidity of the Bank.
  • Review approve and share data for monthly management update on various money market securities dealt and financial returns executed vs. expected.
  • Review and share proposed new money market products and process developments to manage interest rate risk of the bank balance sheet and bank client exposures, alongside feasibility reports on proposed trades in terms of cost incurring vs. profit generation, to the management for their decision.

Qualification, Skills & Experience

  • University graduate with a degree in Business or Banking or Finance or Economics or any other related discipline.
  • Master’s degree in Management any other related discipline will be an added advantage.
  • 15 years of total experience in financial services/banking industry, entailing responsibilities pertaining to the specific area of discipline.
  • Experience in Money market trading activities on a supervisory and management role
  • Understand the key approaches to investment allocation for MM portfolio including asset class, geographical area, currency etc.
  • Understand the main aims and investment characteristics of MM portfolio management strategies
  • Knowledge of portfolio construction based upon proprietary or customer needs
  • Knowledge of the financial markets and be able to read moves of the central banks
  • Knowledge on new international best market practice and global and regional trends

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