Executive Director, Prime IBR & CFD

Standard Chartered Bank
London, United Kingdom
Mar 08, 2023
Mar 19, 2023
Job Function
Industry Sector
Finance - General
Employment Type
Full Time
The Role Responsibilities
  • Implement trading strategy for Fixed Income Prime Brokerage
  • Provide analysis required to support development of Prime, with strategic direction from Sales, RMA Head, XVA-CFD, Risk
  • Maximise total product income by ensuring effective end to end client risk management/service
  • Consult on the growth of the FIPB franchise and build /grow the franchise globally
  • Work with the Business end-to-end stakeholders to define the requirements to deliver the Corporate Plan for Prime and CFD
  • Short covering for the clients' fixed income positions and financing long bond positions including maximising exclusive portfolio lending
  • Perform collateral management responsibilities to meet the Bank's margining requirements
  • Collaborate closely with middle and back office as well as client services on settlement and operational issues
  • To increase SCB's visibility through risk-adjusted competitive pricing for our clients
  • Manage risk from client trades prudently
  • To support the Repo & Prime Services team creating a mindshare of trade ideas /axes with clients, providing feedback on those ideas and client needs
  • Provide close support to Risk, RMA Head, Prime Sales and CCIB RMs in Client coverage activities
  • Contribute to an open and constructive culture liaising with MAG, IT, Legal, Product, Compliance, COO, Technology and Operations, and other relevant senior stakeholders
  • Understand fully all components of the process leading to effective risk management of the Prime Services business (pre-at-post trade controls and parameters, margin, risk measures, legal documentation)
  • Seek and obtain periodic assurance that processes are designed to enable effective risk management of the Prime Services business
  • Work with the Business end-to-end stakeholders to define process improvements
  • Ensure all appropriate and documented internal controls and procedures are followed
  • Raise any issues of such procedures and controls and regularly review them to ensure that they reflect any changes in products, systems, policy and regulations relative to responsibilities
People and Talent
  • Lead through example and build the appropriate culture and values. Set appropriate tone and expectations amongst colleagues and work in collaboration with risk and control partners
  • Contribute to continuous process improvement and sharing best practice
Risk Management
  • FIPB risk management (including pre-at-post trade controls and parameters, margin, risk measures, legal documentation)
  • Assist with IBR coverage in Western hours
  • Responsible for maintaining margin models, risk data and grids
  • Perform portfolio analysis for clients (drill down of VaR, NOP, margin and limit investigations)
  • Obtain credit approvals for new business, Client visits and due diligence
  • Running daily reports such as sensitivities and stress testing
  • Contribute to project work to advance the In-Business Risk agenda
  • Driving business outcomes for the XVA Desk and Central Funding Desk, with the aim of optimizing bottom-line revenues, inclusive of regulatory drag from LCR and NSFR and funding costs for individual businesses
  • Contribute to the interpretation and implementation of existing and new rules on Capital, Liquidity and Margin vis-à-vis impact on XVA, CFD and Prime businesses
  • Responsible for assessing the effectiveness of the Group's arrangements to deliver effective, oversight and controls in the business and, if necessary, trigger changes in these areas
  • Awareness and understanding of the regulatory framework in which the Group operates, and the regulatory requirements and expectations relevant to the Prime space
  • Joint responsibility with COO and Product to create and maintain a library of procedures/playbooks for client on-boarding, exit and trade novation
Regulatory and 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
  • Conduct Principles: [Fair Outcomes for Clients; Effective Financial Markets; Financial Crime Compliance; The Right Environment.] *
  • Effectively and collaboratively identify, escalate, mitigate and resolve risk, conduct and compliance matters
Key Stakeholders
  • Market and Credit Risk (pertaining to Prime and CFD)
  • FM Sales / CCIB RMs
  • Legal & Compliance
  • Finance
  • COO
  • Prime Product
  • RMA & FSS Heads
  • Technology & Operations
Other Responsibilities
Prime Services is business within FM providing an array of credit intermediation services to clients. With a core focus of FX and Rates, Prime Services currently offers Intermediation and Clearing, plus Fixed Income Prime Brokerage. Reporting into the regional head of in-business risk management, this individual is required to manage the risk agenda for the West portfolio. This includes conducting daily portfolio analysis, running stress testing on specific portfolios, assessing client risk profile and setting appropriate risk parameters required for the on-boarding of new clients as well as maintaining the existing relationships with clients of this business. You will also be expected to provide ad hoc problem solving, client due diligence, in depth portfolio analysis, client calls/ meetings and project work.
  • The Prime In-Business Risk (IBR) officer is responsible for controlling adherence to the Prime risk framework at every stage of the Prime lifecycle:
  • Client on-boarding and management: PSCAF approval, ad hoc client reviews/calls.
  • Periodic monitoring:
- Daily Prime risks reports consumption, alerts and follow up.
- Monthly review of Prime Risk with head of Risk, FM Head and RMA.
- Yearly analysis of appropriateness of measures to monitor market, credit risk for Prime Clients.
  • Contribute to Regulatory, Technology projects delivery (ex: Sabre, IBOR transition, UMR).
  • Client off-boarding: exit, novation, close-out.
The XVA and CFD Desks are setup as risk-management utilities. There is no annual P/L budget to achieve. The XVA Desk's mandate is to minimise XVA PL volatility and mitigate XVA credit and market risk, while the objective for the CFD Desk is to manage and optimise funding for FM against business and regulatory constraints. As such, this role requires the analysis and management of the risks of Financial Markets. In discharging the below stated responsibilities, he/she will need to evidence (i) understanding of prevailing regulations and in alignment with the Bank's risk perimeters; (ii) risk-analysis acumen; (ii) ability to collaborate and finesse in interacting with the various lines of defence and support functions; (iv) solutions-driven approach to client mandates in support of origination and product activities.
Our Ideal Candidate
  • Strong interpersonal skills in networking across the end-to-end business
  • Excellent domain knowledge of Market Risk, Risk measures, Margin rules, Liquidity regulation
  • Good communication skills - oral, written and presentation
  • Strong analytical skills and ability to make and rationalise decisions
  • Capacity to independently run ad hoc portfolio analysis (VAR, sensitivities, parallel stress testing)
  • Understanding of VaR and PFE calculation methodologies and stress testing
  • Technical analysis portfolios containing cleared IRS, IRD, XCCS, FX cash, NDF and FXO positions
  • Understanding of SA CCR and SIMM IM.
Role Specific Competencies
  • Market Risk
  • Trading, particularly Repo
  • Market Knowledge
  • Regulatory Environment - Financial Services
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
  • You need to sign in to save