Job Vacancy: Job title: Specialist, Financial Market Ops
Job description: Role Responsibilities
The role holder is responsible support to the Product delivery Manager FXMM in the end to end deal processing, settlement and confirmation of all FX and MM deals for in-country Financial Markets Operations.
Strategy
- To work closely with Manager Product Delivery FXMM to ensure services delivered are of top quality and that customer’s needs are being attended to according to our service level agreements.
- To ensure that key business practices and service delivery processes are conducted in compliance with Group and country regulatory guidelines and those risks are identified and managed.
- To support country FMO head, Product Delivery Manager FXMM to deliver the FM Business strategy as it relates to FXMM.
Business
- Management of the day to day operations of the desk to align with the business strategy and priorities, monitoring service issues and action plans to rectify it and work with Manager FXMM to improve operational risk environment within the team
- Ensuring compliance with all Group and Country policies, Code of Conduct and consistency in execution, and to ensure that statutory regulations and laws as a corporate body are met and satisfied.
- Ensure day to day operating compliance with all relevant local and global regulatory requirements and industry best practice
Processes
- Support the Product Delivery Manager-FXMM in the processing of transactions relating to Central Bank of Nigeria FX auctions.
- Take responsibility for the processing of FX Forward discounting and Unutilised FX sold to the Central bank (including record keepings). This also involve clients are promptly credited upon receipt of refunds from the CBN.
- Responsible for the daily reconciliation of Central bank of Nigeria No exposure Opics profiles in line with approved process.
- Work with other managers and officers within FMO to produce weekly and monthly MIS for Nigeria FMO Head.
- Serve as the first point of contact for all customers queries and complaints for the team. Manage all complaints queries in line with established procedure.
- Responsible for driving total utilisation of GEMS application within the team.
- Responsible for ensuring complete, accurate and up to date report of discounted FX forward is maintained for the team.
- Work with other stakeholders to maintain a complete and up to date schedules of weekly FX sold via the CBN Invisible and SME window.
- Role holder will work with FXMM Investigation team in GBS to ensure all outstanding items relating to the products are promptly attended to.
- Responsible for working with FM Sales and RMs on corporate deposits booked for clients in Opics.
Risk Management
- Demonstrate awareness and understanding of the main risks Financial Market Operations and particularly the job role.
- Remain alert to the risk of money laundering and assist in the Bank efforts in combating it by adhering to the key principles in relation to: Identifying your customer, knowing your customer, reporting suspicions, safeguarding records and not disclosing suspicions to customers.
- Ensure any operational incidents (Risk, losses or near misses) identified are escalated promptly.
Governance
- Review trend analysis of performance benchmark standards (straight through processing attainment, query resolution turnaround times etc)
- Ensuring controls related to FM Operations are applied to daily processes to confirm minimal risk
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 FMO Nigeria 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
- Settlement & Clearing
- External Validation
- FM Stakeholders
- FM front office
- WMPS
- UKINV team
- Finance
- Local Banks
- Central Bank of Nigeria
Other Responsibilities
- Serve as an alternate to the Product Delivery Manager FXMM in the processing all Money Market transactions including interbank deals.
Our Ideal Candidate
- Market Knowledge: – awareness and understanding of the wider business, economic and market environment in which the firm operates. Must be conversant with various regulations that impact financial markets in the location, specifically Central Banks of Nigeria circulars relating to FXMM
- Risk Management and Control: – ability to identify risks and escalate it. Also, an awareness and understanding of the main risks facing the bank, Financial Markets and the role the individual plays in managing them.
- This role would require a good bachelor’s degree, 3+ years of relevant experience preferably in financial institution and banking Operations
- Good knowledge of Foreign Exchange and Money Market processes and products
- Proficient in PC Skills particularly Microsoft Excel
- Ability to work within a multi-function, multi-discipline team environment with good stakeholder management skills
- Good communication, Interpersonal and analytical skills.
Role Specific Technical Competencies
- Manage Risk
- Manage Change
- Business Governance & Support
- Manage People
- Service Delivery & Operations
- Manage Conduct
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
Location: Nigeria – Middle East
Job date: Sat, 29 Jul 2023 04:04:54 GMT
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