Senior Financial Markets Specialist

SUMMARY:
Job title: Senior Financial Markets Specialist
Brief description
The main purpose of this position is to contribute to the development of financial benchmarks and the transition to alternative reference rates in South Africa. To enable price discovery, the company calculates and publishes several benchmarks, including the South African Rand Overnight Index Average (zaronia), which has been designated as the successor rate for the Johannesburg Interbank Average Rate (Jibar). The incumbent will oversee and optimise the production of company-administered benchmarks and drive initiatives aimed at increasing the adoption of zaronia in financial markets.
Furthermore, as technological advancements and the availability of data continue to shape financial markets, the incumbent will be required to conduct research on market microstructures and lead the development of analytics for detecting market dysfunction and monitoring the transmission of monetary policy. As such, the incumbent will leverage data sources, model financial markets and develop data visualisation tools for monitoring core financial markets.

POSITION INFO:
Detailed description

• The successful candidate will be responsible for the following key performance areas:
• Research, develop and maintain advanced analytics related to interest rate and foreign exchange markets.
• Conduct research on various aspects relating to financial benchmarks and reference rate reforms.
• Provide thought leadership and contribute to position papers, presentations, speeches and other documentation prepared by the company Working Group, Market Practitioners Group (MPG) and other relevant bodies.
• Contribute to the formulation and execution of strategic initiatives of the unit and the Financial Markets Department.
• Lead the development and periodic review of interest rate benchmarks and the implementation of solutions for various calculation methodologies.
• Establish relevant data sources and lead the implementation of appropriate data collection models to enable the production of analytics.
• Oversee the benchmark determination process and enhance operating procedures and the control framework for benchmark administration.
• Collaborate with other financial market specialists, business analysts, data management specialists, integration specialists and software developers to design and implement infrastructure solutions.
• Prepare periodic operational reports to enable lead specialists, senior management and the Reference Rate Oversight Committee to exercise their oversight function on all aspects of benchmark administration.
• Leverage data and analytics to prepare reports aimed at enhancing the transparency of various segments of interest rate and foreign exchange markets.
• Build and maintain relationships with reporting institutions, market infrastructure providers, industry bodies and other relevant stakeholders.
• Contribute to the learning and development of junior specialists.
• Assist with committee administration.
• Contribute to process improvement.
• Perform ad hoc tasks.

• An Honours degree (NQF8) in Economics, Finance, Statistics, Data Science or an equivalent combination of education and job-related experience; and at least 8 to 10 years’ work experience in financial markets.

• Knowledge of financial markets products and the pricing thereof.
• Knowledge of quantitative finance.
• Proficient in Microsoft Office, R and/or Python; and proficient in data analysis.

• Analytical and conceptual thinking abilities.
• Written and verbal communication skills.
• Availability to work irregular hours on an ad hoc basis.
• Report writing skills.
• Planning and organising skills.
• Interpersonal skills; and being a team player.

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