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Director, Global Credit Insurance Group

Employer
Standard Chartered Bank
Location
London, United Kingdom
Salary
Competitive
Closing date
Dec 9, 2023

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Job Function
Trading
Industry Sector
Finance - General
Employment Type
Full Time
Education
Bachelors
Job Summary
The role holder is responsible, as an individual contributor, as part of the Bank's Global Credit Insurance Group desk ("GCIG"), for negotiating, structuring, placing and managing private market credit and political risk insurance on CCIB credit assets for the Africa and Europe regions.
Responsibilities
Continuously work with insurers on both BAU business and initiatives aimed at deepening and broadening market appetite to better match the Bank's evolving book and general business requirements. Initiatives include:
  • Deepening and broadening insurance market appetite for the low RoRWA/high RWA business;
  • Deepening and broadening insurance market appetite for Shipping Finance risks, to assist the strategic growth of the business;
  • Deepening and broadening insurance market appetite for long tenor Project Finance Renewable risks, to assist the strategic growth of the business, and to do this in a way that increases returns;
  • Deepening and broadening insurance market appetite for Commodities business, to enable the bank to provide solutions to requirements of key clients, and to do this in a profitable manner ;
  • Developing insurance market to insure NAV financings, ABL and Loan on Loan structures for portfolio and CRE sector risks, and HY financings including mezzanine positions, to enable the bank to diversify its investor base on these structures, and to do this in a profitable manner;
  • Team's remit includes credit insurance origination on both pipeline transactions and portfolio assets (as directed by CPM/Business).
Deal origination and execution for the dedicated coverage region:
  • Evaluate and understand risks associated with highly complex structured transactions and structural elements which can mitigate risks or make the deal more attractive to the insurance market;
  • Structure insurance cover in the most suitable way to mitigate risks for the bank's hold position, to enable the bank to underwrite large deals, to make the deal economically attractive, to enable a useful solution to meet client's requirements, and/or to make the deal more attractive to potential participants including institutional investors and banks;
  • Contribute to deal origination and structuring discussions to ensure credit insurance is considered for returns enhancement on all deals;
  • Pitch suitable deals to the insurance market and address underwriters' concerns;
  • Assess impact of insurance on deal economics;
  • Negotiate premium rates to ensure efficient capital utilisation and optimised returns on deals;
  • Negotiate policies, working from approved template, with input from Legal to ensure compliance for capital relief purposes;
  • Manage pipeline and current tasks lists to progress multiple live transactions efficiently; and
  • Develop insurance market appetite by deepening insurers understanding of structures, sectors and geographies that have traditionally been outside of their core appetite but where the Bank has a strong business requirement to develop additional distributional channels.
Key stakeholders
Internal:
  • GCM/CCIB/FM transactors: Work pro-actively with deal teams and Credit teams across Global Credit Markets, Financial Markets, CCIB globally to identify assets for risk distribution;
  • FI GAMs: Manage utilisation and allocation of underwriter counterparty limits, and compile regular reporting to various stakeholders including FI Relationship Managers; and
  • CPM: Work closely with the Credit and Portfolio Management team to manage risk and RWA on existing exposures through insurance.
External:
  • Insurers, reinsurers, brokers, insurance desks of other banks, industry bodies, conferences: Apart from deal execution, develop strong relationships with relevant stakeholders, to market SCB in an effective manner, and ensure we can use relevant market intelligence for our benefit
Role Specific Technical Competencies
  • Risk Management - Market / Liquidity
  • Business - Strategy and Model
  • Execution - Industry Knowledge
  • Execution - Client Relationship Management
  • Distribution - Market Risk
  • Product - Structured Derivatives and Swaps
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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