Executive Director, Stressed Asset Group

Employer
Standard Chartered Bank
Location
Dubai, United Arab Emirates
Salary
Competitive
Posted
Jun 25, 2022
Closes
Jul 09, 2022
Ref
15575463
Job Function
Banking
Industry Sector
Finance - General
Employment Type
Full Time
Education
Bachelors
Responsibilities
Assist Regional Head CPM and Regional Head Stressed Asset Group to implement the strategy for CPM as it relates to management of stressed exposures across the Middle East region. Stressed exposures to include legacy CG 13 and CG 14 exposures managed solely by Stressed Asset Group, all new CG 13 and CG 14 exposures managed together with the respective Client Coverage Relationship Managers effective 1 March 2022, and any other exposure(s) across the CCIB balance sheet with imminent signs of impending stress including CG12 exposures under co management with Frontline. Ensure adherence to CPM business conduct framework in implementing this strategy.
Reinforce the principle of first line ownership of risk in managing emerging risks in the [XX] CCIB portfolio, ensure timely detection and mitigation of such emergent risk, and collaborate with Risk, and FM/GCM teams in managing down the overall stressed asset portfolio aimed at improving the overall RoTE for CCIB and the Group.
Providing transparency on the cost and risk of any mitigation action, and on the underlying decision making process as they relate to the stressed asset portfolio. Work towards optimisation of RWA and liquidity in the legacy stressed asset portfolio for the Middle East as a priority and ensure appropriate data capture/ data management that can feed into and improve CCIB's data/ credit modelling regimes. Monitoring the overall CCIB credit risk portfolio together with CPM Regional Heads for any potential credit issues and help reduce exposures through secondary distribution and/or hedging - thereby playing a key role in reducing concentration risks and freeing up regulatory capital. Optimising the portfolio while remaining within risk tolerance.
Strategy
  • Responsible for developing clear milestones against which the progress of the Stressed Asset Group's strategy implementation can be measured for Middle East region. Responsible for the Stressed Asset Group execution tracker to monitor such progress for regional portfolio.
  • Challenge and support impairment forecasts developed by First Line based upon a balanced judgement on the external environment.
Business
  • Help drive financial performance against targets including meeting long term economic risk return (RoRWA/ RoTE) goals and RWA targets for CCIB
  • Help improve efficiency, speed, and productivity of capital for stressed asset portfolio and for broader CCIB balance sheet
Reinforce first-line ownership of risk and origination discipline/ Risk Management
  • Stressed Asset Group to work towards early action and improved analytics by providing likely credit migration scenarios and assist exposure management within good book itself before an exposure is downgraded to stressed category
  • Work with RM teams in determining appropriate credit risk grade and provisioning on all stressed assets in the designated region
  • Work with frontline teams, broader SAG, SAR and Credit Risk in the designated region to adhere to the tenets of latest CG 12 and CG 13/ 14 Roles & Responsibility documents, and to latest Problem Accounts Management Standards
  • Ensure that material impairments and related issues are reported to Regional Head CPM, and Head, SAG and to relevant country/ regional risk governance committees.
  • Work with frontline teams to ensure that the Group's risk arising from litigation, environmental claims, regulatory censure or potential reputational loss in regard to stressed assets portfolio are minimised.
  • Provide feedback to frontline teams regarding improvements in credit origination, documentation or early problem recognition
Reduce P&L volatility while managing returns:
  • Drive continuous improvement of the operational efficiency and effectiveness of the process to increase the consistency of global systems and processes.
  • Evaluate current data availability and integrity issues and adapt the Stressed Asset Group mandate for governance and resolution
  • Establish strategic objectives and related performance measurement including that for break even RoTE for proposed mitigation actions, and for overall cover ratio for stressed asset portfolio keeping in view accounting value vs. economic value
Optimise liquidity and capital resources to support CCIB growth
  • Promote alignment of global priorities (product / function) with local balance sheet realities (regions/countries) while undertaking mitigation action on the stressed asset portfolio; raising awareness and understanding through pro-active, insightful engagement
Processes
  • Work with the team to support & manage where applicable CPM processes allocated to the CEO, CCIB by the Group process universe in line with the ORF and their associated risks, including activities within the processes which are hubbed or outsourced
  • Execute the implementation of policies & control standards set by risk control owners and policy owners where appropriate. Ensuring compliance and operating within risk tolerance and risk appetite. Contribute to the adequacy and effectiveness of the systems, controls and procedures relating to Stressed Asset Group and CPM at large, that they are regularly and independently tested, assessed and improved in a timely manner
  • Ensure there is a framework for effective management of operational risks within Stressed Asset Group and compliance with applicable internal policies, and external laws and regulations
People and Talent
  • Lead by example and build the appropriate culture and values. Set appropriate tone and expectations for Stressed Asset Group business and work in collaboration with risk and control partners
  • Provide effective leadership to the business, communicate the vision and build commitment and energy to focus on key priorities

  • Ensure that all staff have clear P3 objectives which drive the right behaviours. Maintain Individual Accountability throughout Stressed Asset Group by having standard and mandatory objectives aligned to the Scorecard and include them in employee performance reviews, of which they are measured and rewarded
Risk Management
  • Ensure there are appropriate frameworks in place so that the Stressed Asset Group business is carried out within the Group's risk appetite and reputational and credit risks are appropriately managed in conjunction with direct reports and other stakeholders
  • Ensure compliance with the highest standards of regulatory conduct and compliance standards and practices as defined by internal and external requirements. This includes compliance with anti-money laundering regulations and guidelines
  • Ensure any audit and compliance issues relating to the Stressed Asset Group business are resolved in a timely manner
  • Ensure that Risk Management matters that are brought to the job-holder's attention are subject to direct remedial action and/or escalated, where appropriate to relevant risk committees
Regulatory & Business Conduct
  • Display exemplary conduct and live by the Group's Values and Code of Conduct.
  • Take personal responsibility for embedding the highest standards of ethics, including regulatory and business conduct, across Standard Chartered Bank. This includes understanding and ensuring compliance with, in letter and spirit, all applicable laws, regulations, guidelines and the Group Code of Conduct.
  • Effectively and collaboratively identify, escalate, mitigate and resolve risk, conduct and compliance matters
Key Stakeholders
  • Internal stakeholders: Regional/ Country Client Coverage Heads, Global and Regional Head Stressed Asset Risk, relevant Regional/ Country Product Heads (e.g. GCM, FM Sales), Business and Country CFOs, Regional Chief Credit & Risk Officers, Regional Heads of HR, Heads of Legal, Head of Compliance.
  • External liaison: Stressed Asset Groups at other FIs, Credit/ Stressed Asset Funds, Portfolio Management teams at other banks. Institutional and Private Investors, External Lawyers, External Accountants, Regulators etc
Other responsibilities
  • Leverage the opportunity provided by Corporate Social Responsibility to enhance the Group's internal and external reputation and indirectly influence the bottom line
  • Promote the Group's brand with clients, stakeholders and regulators
  • Perform other responsibilities assigned under Group, Country, Business or Functional policies and procedures
Our Ideal Candidate
  • Graduate qualifications (or conversions): Post-Graduate qualifications such as MBA, CFA, Chartered Accountancy, Mathematics/ Statistics, Qualified Lawyer
  • Relevant experience in the banking and financial services industry with hands on experience of underwriting, managing, and recovering credit exposures across both developing and developed jurisdictions
  • Extensive knowledge of fundamental drivers of credit risk, documentary and legal risks, portfolio, and balance sheet management; including market and regulatory dynamics
  • Extensive experience in structuring credit risk products, restructuring of credit exposures, asset distribution, and exposure to credit derivatives and asset securitisation
About Standard Chartered
We're an international bank, nimble enough to act, big enough for impact. For more than 160 years, we've worked to make a positive difference for our clients, communities, and each other. We question the status quo, love a challenge and enjoy finding new opportunities to grow and do better than before. If you're looking for a career with purpose and you want to work for a bank making a difference, we want to hear from you. You can count on us to celebrate your unique talents. And we can't wait to see the talents you can bring us.

Our purpose, to drive commerce and prosperity through our unique diversity, together with our brand promise, to be here for good are achieved by how we each live our valued behaviours. When you work with us, you'll see how we value difference and advocate inclusion. Together we:
  • Do the right thing and are assertive, challenge one another, and live with integrity, while putting the client at the heart of what we do
  • Never settle, continuously striving to improve and innovate, keeping things simple and learning from doing well, and not so well
  • Be better together, we can be ourselves, be inclusive, see more good in others, and work collectively to build for the long term
  • In line with our Fair Pay Charter, we offer a competitive salary and benefits to support your mental, physical, financial and social wellbeing.
  • Core bank funding for retirement savings, medical and life insurance, with flexible and voluntary benefits available in some locations
  • Time-off including annual, parental/maternity (20 weeks), sabbatical (12 weeks maximum) and volunteering leave (3 days), along with minimum global standards for annual and public holiday, which is combined to 30 days minimum
  • Flexible working options based around home and office locations, with flexible working patterns
  • Proactive wellbeing support through Unmind, a market-leading digital wellbeing platform, development courses for resilience and other human skills, global Employee Assistance Programme, sick leave, mental health first-aiders and all sorts of self-help toolkits
  • A continuous learning culture to support your growth, with opportunities to reskill and upskill and access to physical, virtual and digital learning
  • Being part of an inclusive and values driven organisation, one that embraces and celebrates our unique diversity, across our teams, business functions and geographies - everyone feels respected and can realise their full potential.
  • Recruitment assessments - some of our roles use assessments to help us understand how suitable you are for the role you've applied to. If you are invited to take an assessment, this is great news. It means your application has progressed to an important stage of our recruitment process.
Visit our careers website www.sc.com/careers

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