ED, FX, Rates & Commodities Products, CMPS

Employer
Standard Chartered Bank
Location
Singapore, Singapore
Salary
Competitive
Posted
15 Nov 2022
Closes
26 Nov 2022
Ref
17734651
Job Function
Wealth Management
Industry Sector
Finance - General
Employment Type
Full Time
Education
Bachelors
The Role Responsibilities
  • Full product ownership of the FX, precious Metal and Interest Rate Asset class globally.
  • Handle new issuers onboarding for equity derivatives and FX/precious metals derivatives.
Strategy
  • Develop wealth management derivatives product capability to provide a robust execution and risk monitoring platform across private bank, business banking and Retail client segments.
  • Drive the agile technology projects to establish a robust price discovery and execution platform.
  • Determine business requirements, review technology project plans from the business perspective, and ensure new technology capabilities are embedded in business processes to deliver benefits. Ensure smooth execution on the ground, and communicate the changes delivered to relevant stakeholders including front office.
  • Negotiate with TCRM of Credit Line set up for pre-deal check.
  • Socialise with TCRM Risk Officer, CMPS Credit Risk Officer and Middle Office to agree the mechanism of credit line monitoring mechanism.
  • Annual renewal of OTC Derivatives payoff (including Equity, FX, Precious metals and Rate).
  • Manage the change of OTC & FX Derivatives PPG.
  • Work with CMPS Legal in reviewing OTC Derivatives Term sheets / Confirmations.
  • Work with CMPS CFCC on KYIR.
  • Work with Regulatory Implementation team on regulatory reporting of OTC derivatives.
  • Design and Propose Derivatives business proposition including target clients' group, margining methodology, operation flow.
  • Product Shelf Review for OTC FX & Derivatives.
  • Regulatory framework review of all MAS, HKMA, FCA, PRA requirements impacting FX, Equity and Interest Rate asset class.
Business
  • Review and understand key business policies and processes in Wealth Management, Market and Credit Risk Policy in offering OTC derivatives products and services to private banking clients. Identify critical pain-points and articulate how planned / in-flight technology projects will solve them.
  • Familiarity with the development of FX, IR and EQ booking and execution platforms (FXDC, BLADE, SABRE, EQC) and ensure that it is properly interfaced with margin monitoring platform and other downstream booking systems.
  • Term sheet design for OTC Derivatives products along with legal for PAG approved payoffs.
  • PAG Tracker payoffs renewal for OTC Derivative and DACS products.
  • Designing DACS guidelines for CAL, KAQ, checklist memo.
  • Ownership of WM product Fees guidelines across all regions for FX and Interest rate business.
  • Technical knowhow to improve front office systems performance and expand OTC derivatives product coverage according to the business development plans.
Platform & Product Creation
  • The Product Manager is the key decision maker on defining the vision of the asset class and works to ensure that all stakeholders are aligned at each stage of the future business growth plans. The Product Manager needs to understand both the engineering and business aspects of his asset class and be ultimately responsible for driving the asset class forward in terms of revenue and product growth across all the footprint regions of the CMPS business.
  • Provide business input on requirements to the technology project teams. Work with subject-matter experts in RMs, IAs and operations on requirements. Prioritise "must have" items vs. "good to have".
  • Review technology plans and design specifications, to ensure business requirements are met and that benefits will be delivered. Identify impact on critical processes within the Bank's operational risk framework, and work with process owners and project teams to ensure robust controls.
  • Participate in project review meetings and identify/highlight any potential issue that may impact project's cost, timeline and/or scope and work with concerned stakeholders for its early resolution to bring back the project on track.
  • Provide feedback to or technology teams on their projects from a business perspective. Highlight issues that require resolution and provide solutioning where needed to progress the case forward.
Processes
  • Develop processes and systems to ensure delivery of best-in-class products and services crystallized through segment led value proposition.
  • Develop standards and policies with respect to the booking of trades in other transaction booking systems (such as Sabre, Murex, T24).
  • Through WM NFRC, WMPC and other forums to ensure adequate and appropriate systems, controls and compliance within area of responsibility.
People & Talent
  • Work towards strengthening the performance culture and reinforcement of accountabilities in FX, IR and EQ derivatives products.
  • Sharing the technical skill on how to review client portfolio and how to conduct sensitivities analysis of clients' portfolio.
Risk Management
  • Full ownership of the Global CMPS risk across all products and regions which entails 2 key activities.
  • Global CMPS Risk approval and management - Annual review + limits extension.
  • Global CMPS Risk report - daily signoff on risk positions globally across Asia, Middle EAST, Africa and Europe across all asset classes including FI, Equities, Funds, Interest Rate and FX.
  • Embed a risk culture that supports the Bank's strategy and philosophy for the management of risk.
  • Ensure that effective arrangements are in place within WM in the region for the prevention of money laundering in line with the Group Policy and Standards, respective country regulatory guidelines and local legal requirements. Ensure that the obligations on reporting suspicious activities are met.
  • Ensure that Risk Management matters that are brought to the job holder's attention are subject to direct remedial action and/or ensure adequate reporting to the relevant Risk Committees.
Governance
  • At all times have an awareness and understanding of the regulatory framework, in which the Group operates, and the regulatory requirements and expectations relevant to the role.
  • Adherence to Group Policy and Code of conduct always.
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. This includes understanding and ensuring compliance with, in letter and spirit, all applicable laws, regulations, guidelines and the Group Code of Conduct.
  • Lead the Business to achieve the standards as set out in the Bank's Conduct Principles. Fair Outcomes for Clients, Effective Operation of Financial Markets, Financial Crime Prevention, The Right Environment.
  • Effectively and collaboratively identify, escalate, mitigate and resolve risk, conduct and compliance matters.
  • Role is global, physical location is with the Group Wealth Management team in Singapore.
  • Singapore local regulator: Monetary Authority of Singapore (MAS).
Key stakeholders
  • Regional and Country Wealth Management Heads and CMPS DAC dealers.
  • Key markets Private Banking Heads, IAs and RMs.
  • Market/Credit/Operational Risk, Legal, Compliance, Middle Office and COO team.
  • Co-ordination with BRM and C&S for clarification/supporting documents/Voice logs.
Other Responsibilities
  • Perform other responsibilities assigned by Group, Country, Business or Functional policies and procedures.
  • To achieve annual sales revenue targets.
  • To achieve other business and non-financial objectives.
  • To drive the Bank's strategy and franchise development.
  • To ensure that the business is conducted in an operationally robust environment.
  • To ensure compliance with regulations and controls as set by the Bank and external regulatory authorities.
Our Ideal Candidate
  • Academic or Professional Education/Qualifications - relevant degree.
  • Licenses Requirement - Financial Advisory Representative or equivalent.
  • Advising in capital market products under SFA will only be allowed after successful completion and registration of MAS RNF requirements, CACS requirements.
  • Professional - Charter Financial Analyst (CFA) or equivalent.
  • Bank training, i.e. mandatory & developmental - role specific and regulatory/compliance bank wide specific.
  • Good communication skills.
  • 15+ years of extensive knowledge in financial market products especially in OTC derivatives across FX, IR and EQ.
  • Strong risk evaluation experience in OTC derivatives products.
Role Specific Technical Competencies
  • Market Knowledge (SIF)
  • Product and Processes
  • Business Acumen
  • Business Markets
  • Regulatory Framework and Requirements (SIF)
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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