Head, Risk Distribution & Digital Trade
- Permanent, Full time
- Standard Chartered Bank
- 20 Dec 16
Please view Job Description for details.
Responsible for end to end delivery of Trade Operations globally covering all the streams of Trade Finance namely in the area of Risk distribution and maintenance of various operational risk related controls. Monitor the performance of trade operations through key metrics such as - volumes, productivity, accuracy, service levels, losses/lapses, issues and risk registers
Key Roles and Responsibilities
- Support Global Head, Trade Operations with the following
- Develop the strategic direction and roadmap for Trade Risk distribution, align with Business Strategy, the ITO Strategy and investment appetite.
- Co-ordinate and monitor progress of the various strategic initiatives for end to end delivery of Trade Operations (both country Trade Operations as well as the GSSCs) covering Risk distribution stream and maintenance of various operational risk related controls.
- Maintain standard service level across all the markets in line with expectations from various stakeholders from all the client segments as well as control the operational risks.
- Formulate Best Practices and apply agreed methodologies in Trade.
- Devise Trade Operations Strategy to streamline processes, enhance productivity, reduce risk, improve controls, leveraging technologies.
- Partner with Trade Tech and Operations teams in countries and Global Shared Service Centres(GSSCs) to fine-tune and simplify processes so as to improve speed of execution. Develop the strategic direction and roadmap for Trade, align with Business Strategy, the ITO Strategy and investment appetite.
- Drive transformational initiatives to ensure that business process outcomes are in harmony with our organization's strategic goals.
- Work hand in hand with the Business, taking product programs from investment decisions, into design, specification and solution phases, all to way to operations on the ground, securing support services from other teams. The term "Product" is used here in a generic sense to describe required capabilities. It includes capabilities that are needed to meet regulatory requirements as well as capabilities for supporting "internal clients".
- Ensure growth of Return on Equity, commercialisation of capabilities, improvement in client experience; and identification of defects for future improvements.
- Be a strategic partner to business teams and work towards attaining end business financial goals
- Ensure adequate capacity plans in place to meet business growth
- Drive transformational initiatives such as digital initiation and dissemination ,to ensure that business process outcomes are in harmony with our organization's strategic goals.
- Build an innovation friendly organizational environment by banking the ecosystem for our clients and to connect our clients with their buyers and suppliers - our clients' ecosystems - by integrating financial, informational and physical flows, including financing the supply chain but also operating cash, receivables reconciliation, risk management and FX.
- Drive holistic approach to process innovation by accelerating digitization of business process and increase efficiencies in discussion with TB Products, Compliance teams, COO and TB Sales
- Collaborate with Architecture and Tech and Trade Operations teams in countries and Global Shared Service Centres(GSSCs) to fine-tune and simplify processes so as to improve speed of execution.
- Responsible for transforming the Risk distribution team into best in class turn around times, controls, and standards so as to provide market best client service, and predictable turn around times in a manner that the risks, if any, are clearly understood and managed.
- Responsible for putting in place appropriate standard processes for each product/sub-product, identifying deviations and gaps in processes, identifying potential risks and implementation of effective mitigants.
- Ensuring process related documentation in terms of issuing Global Department Operating Instructions(GDOIs) for all products based on Product Programme (PPG), International Chamber of Commerce (ICC) Guidelines, Bank's various policies and best market practices.
- Ensure Anti Money Laundering(AML) and sanctions activities are carried out at Operations as detailed in group guidelines
- Responsible for rolling out of new products/sub-products by defining related processes required and by issuing related documentation.
- Responsible to support country trade operations and GSSC on Strategy, Operating Model, Standards, and Risk Controls and compliance with regulations.
- Responsible for ensuring complete commercialisation of various technological platforms.
- Lead through example and build the appropriate culture and values. Sets appropriate tone and expectations for their team and work in collaboration with risk and control partners.
- Employ, engage and retain high quality people such that the team is skilled and experienced to deliver its obligations.
- Ensure the provision of ongoing training and development, ensure that direct reports are suitably skilled and qualified for their roles and that they have effective supervision in place to mitigate any risks.
- Set and monitor job descriptions and objectives for direct reports and provide feedback and rewards in line with their performance against those responsibilities and objectives.
- Improve capabilities of country trade operations - define limits and scope for Country Processing unit (CPC) transaction processing
- Mutiply talent pool bench strength both in countries and GSSCs
- Proactive in seeking regular assurance that the Trade Team is performing to an acceptable risk and control standard.
- Act quickly and decisively when any risk and control weakness becomes apparent and ensure they are addressed within an appropriate timeframe and escalated through the relevant committees.
- As required, act as the risk control owner under the group's risk management framework at the appropriate level.
- Include all necessary internal, legal and regulatory controls through the development of Trade Product requirements.
- Balance business performance delivery and cost management constraints with risk and control matters to ensure that they do not materially threaten the group's ability to remain within risk appetite.
- Embed the Group's values and code of conduct in the Risk distribution team to ensure that adherence with the highest standards of ethics and compliance with relevant policies, processes and regulations among employees form part of the culture.
- Ensure compliance with all salient SCB governance frameworks where there are direct touchpoints with them or any subsequent downstream influence from the Trade Document Operations Team.
- Ensure compliance with the highest standards of regulatory and business conduct and compliance practices as defined by internal and external requirements. This includes compliance with local banking laws and anti-money laundering regulations and guidelines.
- Manage the Documement Trade Operations teams at group level, at countries and GSSCs to budgetary constraints, seeking operational efficiencies to drive the JAWS ratio as directed by Group Finance.
- Represent Risk distribution Operations at any relevant Group Committees.
- Regular review of business performance metrics including Key Performance Index(KPI), Cost per transaction and take appropriate steps immediately upon detection.
- Put in place and/or contribute to Trade Governance structure in Operations.
- Trade Product Management Heads ( Documentary, Open Account)
- Trade Product Development Head
- Trade Business Chief Operating Officer(COO)
- Trade Tech and Ops Management Team
- Trade Global Head, Technology Trade
Qualifications and Skills
- Market Knowledge: - awareness and understanding of the Trade Finance business, economic and market environment in which the firm operates.
- Business Strategy and Model: - awareness and understanding of the firm's business strategy and model appropriate to the role.
- Risk Management and Control: - the ability to identify, assess, monitor, control and mitigate risks to the firm. Also, an awareness and understanding of the main risks facing the firm and the role the individual plays in managing them.
- Financial Analysis and Control: - the ability to interpret the firm's financial information, identify key issues based on this information and put in place appropriate controls and measures.
- Governance, Oversight and Controls: - the ability to assess the effectiveness of the firm's arrangements to deliver effective governance, oversight and controls in the business and, if necessary, oversee changes in these areas.
- This role would require 15+ years of relevant experience, covering Trade Operations with operating at the Group level of sizeable international companies, ideally with sometime in the finance sector covering Trade products, international exposure, ability to handle cultural diversity and developing high performers are essential to this role.
- Collaborative skills that contribute to positive working relationships with counterparts across various stakeholders
- Understanding of relevant Group, Trade AML policies and standards
- Strong written and verbal communication skills.
- An inquisitive approach to practices and procedures.
- Personal authority and integrity.
- Independence, resilience and good judgment.
Diversity and Inclusion
Standard Chartered is committed to diversity and inclusion. We believe that a work environment which embraces diversity will enable us to get the best out of the broadest spectrum of people to sustain strong business performance and competitive advantage. By building an inclusive culture, each employee can develop a sense of belonging, and have the opportunity to maximise their personal potential.