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About SC Ventures
SC Ventures is a business unit created in Standard Chartered Bank to promote innovation, invest in financial technology and explore alternative business models. It is set up with the vision to “rewire the DNA in banking”, to effect a fundamental change in the value proposition of banking to its clients, employees, regulators, and the wider society. It aims to achieve this through its 3 core pillars:
· eXellerator
· Innovation Investment fund; and
· Business Ventures
Role Responsibilities
The role is required to enable create financial oversight, control and strategic guidance to the Solv Businesses. The Solv CFO will be a trusted member of the Solv management team who will work alongside senior management team to develop broad business strategy to act as a critical finance business partner to:
· Provide the strategic thought leadership on all the financial and operational affairs of Solv Holdings (PowersSME), and its associated investments. This requires delivery of strong financial management support, metrics and insights to Solv management in Singapore and London and to enable decision making.
· Drive enhanced analytical reporting for the profit and loss and key financial indicators. This will require a wider understanding of financial performance is delivered to a variety of stakeholders through business focused conversations at all levels of the team.
· The business will seek external shareholders and investments and this role will need to manage both SCB as well as third party investors.
· Will require detailed technical thought in key accounting and financial elements to develop as an SME for the Solv businesses. The Solv CFO will be expected to continually assess the impact of on-going developments on business.
· Oversee and manage the operational aspects of running the business, including business management, as well as supporting HR, global taxes (GST, CTX etc), sourcing and the financial aspects of operational day to day delivery activities.
Key focus on
· Revenue growth and increasing GTV
· Client led profitability, pricing strategies and KPI setting
· Profitability through cost initiatives and efficiencies
Business
· Provide financial expertise, advice and an independent challenge to the businesses on the day-to-day performance issues.
· Manage a variety of internal and external stakeholders on all financial matters. This will involve establishing external relationships from managing all ends of the financial management of the business from control to reporting, cash management and liquidity as well as future investor management.
· Partner the CEO in future fundraising efforts and advise on the optimum funding model for Solv both tactical and structurally as the organisation grows. This will require leading due diligence preparation, quarterly financial presentations and business positioning materials (including valuations and potential acquisition and exit strategies). The role will require management of third-party specialists who will rely on direction.
· Awareness and understanding of the wider business, economic and market environment in which Solv operates, especially the wider regulatory and accounting requirements of the SME environment and their impact on the business.
· Provide Finance input into systems development and provide guidance on how this will be automated.
Processes
· The Solv CFO is expected to ensure financial control is established. This will involve setting up new financial systems with third party providers as well as ensuring accurate and timely information reporting to SCB and related stakeholders.
· The role will require a control mindset and adherence to the SCV Committee (risk) framework for Business Ventures.
· Partner with SCB Tax team to support tax compliance including filing Corporate tax, GST and other tax returns. Specifically, providing tax inputs for the banks group reporting schedules (half year, year end) as requested and support internal tax sign offs
· Ensure robust framework to monitor, identify and comply with operational taxes applicable to Solv as the business grows.
Risk Management
· Manage the overall design and outcome of the end-to-end finance and related process for Solv. The role will own the process output performance in terms of client service, financial performance and risk where appointed as Process Owners.
· Develop and maintain effective financial information systems to satisfy the reporting needs of Solv, SCB Group Finance and local regulators.
· Apply Group accounting and financial control policies, standards, procedures and internal control practices as required
· Ensure adequate controls are installed and that substantiating documentation is available to areas such as Internal Audit and SCB Group Finance.
· Identify, assess, treat and monitor significant operational risks and propose risk acceptance requests with justification to the authorized risk acceptance authority and abide by any conditions of acceptance
· Promptly execute any remediation or risk treatment actions in order to remain within risk tolerance
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 Solv and its related subsidiaries and investments to achieve the outcomes set out in the Bank’s Conduct Principles:
· Effectively and collaboratively identify, escalate, mitigate and resolve risk, conduct and compliance matters.
· Exercise authorities delegated by the Board of Directors and act in accordance with Articles of Association
Key Stakeholders
· CEO Solv
· Head of SC Ventures
· SC Ventures CFO and team
· Associated SCB Finance teams, UK tax, financial and regulatory reporting
· Future external stakeholders
Our Ideal Candidate
· Qualified chartered accountant/CPA/MBA
· Be a trustworthy advisor and mentor to others. Have an ability to work under pressure, to tight deadlines in a fast evolving market.
· Communicate value from their experience and insights to other team members. Focused not only on financials but also on operational, strategic and commercial issues.
· Bridge strategy and detail, bring passion to the role, think and adds value across the business.
· Thrive on the uncertainty and be patient
· Influential –heard in honest and difficult conversations and where their personality and character are strengths.
· Innovative – explore innovative ways to lead and navigate business growth, manage the associated risks and complexities of driving a start-up through its growth phases.
· Degree qualified
· 15 years of prior experience in performance management, financial planning and analysis, financial and regulatory control and reporting.
Role Specific Technical Competencies
· Experience in Private Equity / Fund Management / Start-Up highly desired
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 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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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
Official account of Jobstore.