Role Responsibilities
Member of the Front-Line Monitoring team with cross asset class BAU monitoring focus. Responsibilities will include automated and manual monitoring of controls and processes as well as post trade analysis of client related transactions.
Strategy
· Support the wider team in its mandate to act as the 1st line of defence in monitoring front line controls.
· Drive our objectives in helping FM to achieve the highest standards and outcomes.
· Continually challenge existing controls, look to increase the scope and quality of BEAM and manual monitoring of the first line of defence for the business.
· Conduct thematic reviews to identify potential weaknesses/challenges in the existing processes and controls, potential conduct or fair pricing issues.
· Highlight and document to FOC management where systemic/systematic issues become evident that may affect our ability to discharge our obligations.
· Continually evaluate risks and identify gaps in our processes prioritising high risk items. Raise queries and escalate via appropriate pre-determined channels where appropriate.
· Continue to stay up to date with internal/external policies.
Business
· Awareness and understanding of the wider FM business, economic and market environment in which the Group Operates.
· Provide robust challenge to senior management and all relevant business stakeholders where activities are outside risk tolerance/ appetite, escalating as necessary, until appropriate oversight and ownership is achieved including actions and plans to address any remedial action needed to come back within risk tolerance/ appetite.
· Work towards achieving goals as per agreed P3 performance document.
Processes
· Continue to drive efficiency and identify potential gaps in the BEAM and manual monitoring process as the field of view expands.
· Use product/trading knowledge to identify activity that may not align with our obligations to our clients. Deep dive into specific orders and reconstruct events considering many trading factors effecting client outcome.
· Be proficient in using trade processing systems, order management and recording systems.
· Monitor how we manage each order type, (stop loss, take profit, at best, limit, Reference time etc – as per each asset class) and apply our policies and guidance in the monitoring process.
· Understand market data, which external liquidity providers to access for a given product/asset class and be able to retrieve historic price action using tools available, (Reuters Eikon, Bloomberg, internal sources).
· Construct daily reports and the workings on each order requiring additional monitoring. Report to include Tic data, deal blotter history, trader communications, order histories etc.
· Data analysis of reference data (both external and internal).
· Articulate and escalate areas of concern to trading and sales globally and have the depth of knowledge to effectively manage and interpret a wide variety of responses.
· Be able to identify when further escalation is required and work closely with FM compliance and the head of FLM when necessary, documenting all relevant data.
· Ensure all necessary documentation and MI are completed and updated where necessary with detailed statistics maintained.
· Coordinate internal and external audit reviews liaising with team members / stakeholders to ensure timely / accurate information is provided.
· Responsible for ensuring the gaps/risks are monitored and reported to relevant governance forums.
· Any other monitoring as required (e.g., any new products etc) and assist in investigations on behalf of the business, CFCC and SIS (and any other) as required.
· Ad-hoc, periodic thematic review to identify potential gaps and opportunities for improvement.
People & Talent
· Responsible for leading through example and building the appropriate culture and values.
Risk Management
· Responsible for assessing, implementing and monitoring best execution, fair pricing and any other obligations from a risk-based perspective – in relation to known gaps – for all asset classes.
· Escalate conduct, supervisory, regulatory and operational risks when appropriate and update BEGC, CFCC, BORM’s, and senior management with relevant findings as appropriate. Maintain adequate management MI / trackers across all aspects of their coverage and responsibility to ensure all issues and matters are tracked, followed, regularly assessed and reported on.
· Ensure effective control standards are in place and are tested (CST’s)
Governance
· Awareness and understanding of the regulatory framework in which the Group operates, and the regulatory requirements and expectations relevant to the role.
· Maintain a forward-looking view of emerging regulation and ensure future proofing of MI.
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.
· Lead the country / business unit / function/ team to achieve the outcomes set out in the Bank’s 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
· Heads of Trading and Sales desks
· Product and Sales COO Teams
· Financial Markets Compliance Surveillance
· FM CFCC personnel
· FM Business Operational Risk
Other Responsibilities
· Responsible for promoting the Group’s brand and here for good with employees, clients and regulators.
· Responsible for performing other responsibilities assigned under Group, Country, Business or Functional policies and procedures.
Our Ideal Candidate
· 4+ years of experience in Risk Management and Controls background.
· Strong product knowledge in FM products.
· Ability to work independently in a fast-paced environment.
· Ability to articulate complex issues concisely and communicate effectively.
· Collaborative and creative problem solver, while being outcome focused.
· Strong interpersonal and stakeholder management skills.
· Strong analytical skills with an ability to understand complex workflows and excellent attention to details.
· Comfortable working in a relatively unstructured and multi-cultural environment.
Role Specific Technical Competencies
· Working knowledge of FM Business
· Risk Management – Operational
· Facilitating effective coordination between business and functions
· Writing risk treatment plans
· Change Management
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
