Germaine Muthen

Treasury and balance-sheet management professional with approximately 20 years of experience across banking, insurance and investment management, including leadership of the Asset Liability Management function at Just Retirement Life South Africa. Combines hands-on cash and liquidity management, funding, financial-market hedging and banking operations with financial risk, regulatory governance and executive reporting. Experienced in translating complex exposures into funding decisions, reliable controls and clear management information.

Brings a strong quantitative and systems-improvement background to a group treasury leadership role.

Asset Liability Manager - JUST RETIREMENT LIFE SOUTH AFRICA

(2024-09 - 2026-07)

• Managed daily cash positioning, liquidity headroom and short-, medium- and long-term cash-flow requirements supporting annuity payments, investment settlements, coupon cycles and funding obligations.
• Oversaw funding arrangements and facility terms, monitoring utilisation, pricing, maturities, drawdowns, repayments, covenants and counterparty requirements.
• Designed, executed and monitored dynamic hedging activity, including bond forwards, forward rolls and fixed-income transactions, to manage interest-rate, spread and asset-liability risks.
• Managed derivative margin calls, collateral needs, counterparty exposures, confirmations and settlement readiness; coordinated liquidity for market movements and payment deadlines.
• Worked with banks, Finance, Actuarial, Investments and Operations on banking workflows, reconciliations, regulatory submissions, pricing and management reporting.
• Improved treasury reporting, bank connectivity and documented approval/checking controls; coached a direct report and coordinated delivery across specialist teams.

Investment Analyst – Credit & Portfolio Management - OLD MUTUAL INVESTMENT GROUP – SPECIALISED FINANCE

(2022-12 - 2024-09)

• Assessed credit and infrastructure investment exposures, including multi-lender funding structures, financing economics, cash-flow risks, capital returns and covenant considerations.
• Reviewed portfolio limits, credit quality, concentration and risk-adjusted returns within a large shareholder credit portfolio; prepared investment and risk materials for decision-makers.
• Analysed EUR/USD and cross-currency exposures, offshore settlement and capital-allocation implications, working with investment, risk, credit and Finance stakeholders.

Progressive roles in Group Treasury, Funds Transfer Pricing, Capital Management and Risk - ABSA GROUP

(2008 - 2022-11)

• Contributed to group cash sweeping, pooling and netting, liquidity forecasting, balance-sheet analysis and Treasury operational improvements.
• Managed Funds Transfer Pricing across retail, business and corporate banking products, including internal funding charges, behavioural cash flows, liquidity premiums and JIBAR-linked repricing.
• Produced liquidity, capital, balance-sheet and stress forecasts for ALCO, ExCo and senior management; supported capital allocation and pricing decisions.
• Contributed to Treasury policy reviews and SARB/ICAAP-related reporting, model governance, funding controls and regulatory queries.
• Automated LCR and other recurring reports; developed SAS economic-capital and capital-pricing tools, QlikView dashboards and BCBS 239 data-control improvements.
• Engaged Treasury, Finance, Risk, Technology and business stakeholders on governance, reconciliations, methodologies and management reporting.

Performance Analyst - INVESTMENT PROPERTY DATABANK

(2006 - 2008)

Produced property-portfolio performance, benchmarking and operating-cost analysis, including regular investor and client reporting for South African and UK assets.

MSc - Data Science — Dissertation in progress - University of KwaZulu-Natal

Postgraduate Diploma - Data Science - University of KwaZulu-Natal (2024)

BSc - Mathematics & Statistics - University of KwaZulu-Natal (2005)