01

Risk transfer and hedging

Independent advice on identifying, measuring, structuring and transferring market risk, with no execution margin, no product shelf and no dealer relationship to protect.

Who instructs us. Group Treasurer, CFO or Head of Risk, including at oil and gas companies and manufacturers. At a DFI, the executive director responsible for finance and risk.

  • FX risk strategy and hedging policy. Board-approved policy covering hedge ratios and tenors, permitted instruments across forwards, NDFs, options and swaps, counterparty limits, and accounting treatment.
  • Interest rate risk. Fixed and floating mix, borrowing cost strategy, pre-issuance and refinancing hedges.
  • Commodity price risk. Crude and refined products, gas, metals, agricultural commodities and other key inputs: exposure mapping, pass-through pricing, procurement strategy and, where appropriate, hedging.
  • Transaction advisory. Structuring the hedge, running the bank RFQ, reviewing term sheets, benchmarking the pricing that comes back, and overseeing execution carried out by your own banks.
  • Hedging for development finance institutions. Managing the structural mismatch between hard currency borrowing and local currency lending.

02

Balance sheet and capital

The discipline of a G-SIB collateral and funding programme, applied at the scale of a Nigerian institution, most usefully for organisations building this capability for the first time.

Who instructs us. At fintechs and other non-bank financial institutions, the CFO or COO responsible for float and treasury governance. At DFIs, the executive director for finance and risk.

  • Asset-liability management. Gap analysis, funds transfer pricing, behavioural assumptions, and whether ALCO is actually deciding anything.
  • Liquidity and collateral. Identifying deployable cash, collateral analytics, funding cost reduction.
  • Capital efficiency. Risk-weighted asset optimisation and capital allocation discipline in the post-recapitalisation environment.
  • Structured funding. Funding mix, tenor strategy, and negotiation support with lenders.
  • Treasury investment frameworks. Investment policy statements, eligible instrument universes, counterparty and concentration limits, benchmark methodology and governance. Your own desk or a licensed manager executes inside the framework.

03

Markets capability building

For institutions that want to build or upgrade their markets capability. This is the area built on having actually done it: a fixed income and FX desk taken from a blank sheet to a multi-million dollar revenue franchise, not a framework read out of a manual.

Who instructs us. MD or CEO, Head of Global Markets, Head of Treasury. Market infrastructure institutions.

  • Desk design and scale-up. Mandate, product mix, client coverage model, team design.
  • Product capability. FX, fixed income and derivatives capability, including the governance to sell structured hedges to clients responsibly.
  • Pricing, governance and risk. Limits, supervision, escalation and control design to institutional standard.
  • Derivatives market readiness. Preparing institutions to participate in FMDQ’s cleared and exchange-traded derivatives markets.
  • Market development. For exchanges and market bodies: product and liquidity development informed by front-line desk experience.

Implementation support

From recommendation to implementation.

Treasury transformation and technology. Most often this follows one of the three areas above. It can also be engaged on its own by institutions building a treasury function for the first time.

Who instructs us. DFIs and fintechs building a treasury function for the first time. For commercial and merchant banks this follows an existing relationship rather than opening one.

  • Treasury operating model. Organisation, mandate, controls and front-to-back workflow.
  • Systems selection and implementation oversight. Requirements definition, vendor evaluation, implementation assurance. Direct working experience of Calypso and Murex.
  • Data and analytics. Exposure visibility, scenario and what-if tooling, management reporting.
  • Automation and control. Removing manual touchpoints, embedding straight-through processing, strengthening auditability.

The first conversation is a working session, not a sales call.

Bring the exposure, or the decision your board has in front of it. We reply within two working days with an honest view on whether we are the right people for it.

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