This job is with Standard Chartered Bank, an inclusive employer and a member of myGwork – the largest global platform for the LGBTQ+ business community. Please do not contact the recruiter directly.
Job Summary
The jobholder as Settlement and Support head is accountable for overall management and control of Securities Services Settlement and other related support functions (FX, tax, etc) in India. This role will have responsibility to run the daily settlement and operations to service the clients & support the business. This is a key leadership role which will strongly focus on driving standardisation, improving client experience, streamlining processes and developing talent within the team.
Key Responsibilities
- The jobholder leads a dynamic, multi-product in Custody and Clearing Settlement team responsible for managing critical settlement processes and other relevant processes including but not limited to Tax and FX processing, whilst ensuring controls and delivering a high-quality service to a diverse range of highly demanding clients.
- The jobholder plays a role in the definition and implementation of transformation initiatives, service, and control standards within its sub-functions. The job holder leads a dynamic team responsible for delivering high quality services to some of the most demanding clients. He plays a pivotal role in defining and maintaining operational services for large financial institutions, Global Custodians including leading international banks, broker-dealers, fund managers and insurance companies, social security funds and others.
- The role requires extensive collaboration with regional and country functions such as our hub operational teams (where relevant), Front Office, Sales, Client Management, Legal, Compliance, Risk and Product Management as well as a variety of internal support functions such as Risk, CFCC, Legal, ALM and Finance. To drive change in the local country teams when it comes to identifying opportunities for transformational projects but also in the managing of the day-to-day processes and controls and ensuring regional priorities are being worked on as part of our global agendas.
- The role requires extensive interaction with senior securities market individuals and infrastructures such as stock exchanges, securities depositories, clearing houses, local brokers, peer custodians, other market intermediaries as applicable. Close liaison with market regulators is also a key part of the role, building strong relationships and using in-depth market knowledge to be viewed by them as a trusted adviser for market advocacy.
- The job holder carries out the end-to-end securities settlement responsibilities in the country/market and works closely with the other internal stakeholders including but not limited to central hubbed teams, country business head, regional and group risk heads. To ensure that the operational units perform optimally and can articulate a forward-looking view of business growth, emerging local trends, and regulations to develop a platform consistent with the Bank's and business' strategic ambition.
- This role collectively responsible and accountable for the setting and governance of infrastructure processes and frameworks for robust compliance and controls. There is a focus on people management and client engagement required.
Strategy
- Continually develop and enhance working practices to gain greater delivery efficiency and higher quality outcomes.
- Implements and manages service standards, as defined by central custody operations and defined within the TOM for the Securities Services business
- Ensures compliance with all Group and Country policies, Code of Conduct, statutory regulations and laws
- Ensures the operations team is optimised in terms of people, process, platform, product and place. This will include service, risk, efficiency, cost, control, capability and capacity planning
- Alignment of activities to support the in Custody and Clearing Operations utilities model for greater standardisation, process efficiency and cost reduction.
- Identifies strategic service delivery issues relating to technology, process, human resource, and service quality and implements appropriate solutions.
- Ensures the operations teams are optimised and that resources are effectively managed to rapidly fill any service gaps identified.
- Support Architecture changes in formulation of Best Practice and apply agreed methodologies in FSS and CIB.
- Deliver a robust control environment which mitigates the risk of loss and safeguards the Banks assets.
- Ensure the client experience is seamless based on efficient processing, timely resolution of client exceptions and is perceived as an enabler by the business to generate and retain client flows.
Business
- Partner with the FSS business leads to ensure that the key services are being performed to the standard required. Alignment to FSS growth targets and creating an agenda which mirrors the aims of the Product & Solutions and Delivery team.
- Provides best-in-class operational client support service to address client's operational queries and issues
- Participate in service reviews and due diligence visits with clients, market advocacy , business initiatives and operational and system projects affecting the team and division
- Ensures compliance with all relevant local and global regulatory requirements and industry best practices
- Drives continuous improvement culture to maximise Processing efficiency with controlled Cost Income Ratio
- Monitors client service standards to ensure high-quality operational and client support services are provided.
- Acts as escalation point for Settlement related operational issues - identifies remedial solutions and oversees timely, efficient implementation when required.
- Works closely with all members of the end-to-end journeys to ensure operational platforms support client service level agreements and internal benchmarks as well as identifying opportunities for automation
- Represents the in Custody settlement function at operational forums, groups and conferences where needed.
Processes
- Accountable for managing critical settlement and its supporting processes and controls. Delivering a high-quality service to a diverse range of highly demanding clients.
- Accountable for end-to-end delivery of Setttlement for a particular country/market ensuring that we mitigate any operational, regulatory or client risks and enable the FSS businesses.
- Ensures an efficient and effective end to end product journey for local and international clients across both the onshore and central teams.
- Ensures that key business practices and service delivery processes are conducted in compliance with Group and country regulatory guidelines.
- Identifies operational risks and enhances control mechanisms, both for in-country processes and services hubbed offshore.
- Update local and regional management in a timely manner on notable operational developments and issues and drives the resolution of thematic client issues and process issues.
People & Talent
- Develop, encourages and embeds a high-performance culture; develops talent to ensure a high-quality succession pipeline; drives improvement in people engagement and ensures the team is resourced and trained adequately
- Leads through example and builds the appropriate culture and values & sets appropriate tone and expectations from the team
- Ensures that holders of all critical functions are suitably skilled and qualified for their roles, with effective supervision in place to mitigate any risks.
- Periodically reviews team structure and supports opportunities staff development both within the country and into other markets.
- Chooses right horses for courses especially across all critical functions with effective supervision in place to mitigate any risks
- Sets and aligns job descriptions and objectives for direct reports and disseminates constructive feedback and rewards in line with their performance
Risk Management
- Identifies all potential risks within business and operations and assesses, monitors, controls and mitigates accordingly
- Proactively tables all risk & control weaknesses to which the Group is likely to be exposed and ensures their timely heads up for mitigation
- Ensures operational incidents (losses or near misses) and client complaints are logged & escalated to all stakeholders including Country and Group on timely basis
- Ensures impeccable audit reports
Governance
- Embeds the Group's values and code of conduct in the Operations team to ensure that adherence with the highest standards of ethics and compliance with relevant policies, processes and regulations among employee's forms part of the culture
- Ensures compliance with the highest standards of regulatory and business conduct and compliance practices as defined by internal and external requirements. This includes compliance with not only local banking laws but also anti-money laundering regulations and guidelines
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 Custody Settlement Operation 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
Internal
- Global Head Custody Operations
- Country Head, Custody Operations
- Securities Services Country Business Head
- Legal and Compliance
- Business teams for SS
- Country and Group Risk and Governance teams
- Country Product
- Legal and Compliance
- Finance, Treasury and ALM
- Country Technology Team
External
- Regulators and other Government departments/officials
- Depository, Exchanges & Clearing Corporations
- Peer Custodians, Stock Brokers
- Industry partners, Banking Associations
- Concurrent and External Auditors
- Auditors for ISAE and other regulatory audits
Other Responsibilities
- Embed Here for good and Group's brand and values in SS Operations;
- Perform other responsibilities assigned under Group, Country, Business or Functional policies and procedures
- Double hats across multiple functions within SS Operations (Custody & Fund Services)
Skills And Experience
- Business Facilitation
- Manage Change
- Business Governance & Support
- Strategy & Business Model
- Service Delivery & Operations
- Manage Conduct
- Manage Risk
- Manage People
Qualifications
- Market Knowledge: - Thorough understanding of the wider business, economic and market environment under the ambit of Securities Services across various Asset Class. Minimum15 years + of relevant experience
- Business Strategy and Model: - Knowledge of the banks business strategy and model appropriate to the role
- Risk Management: - Ability to identify, control and mitigate risks to which the organization is exposed
- Financial Analysis: - Ability to interpret the firm's financial information, identify key issues based on this information and implement appropriate controls and measures
- Governance, Oversight and Controls: - 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 in capital markets, derivatives & fund services, thorough knowledge of banking routines, risk management, deep understanding of products and operational processes.
About Standard Chartered
We're an international bank, nimble enough to act, big enough for impact. For more than 170 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
- Are better together, we can be ourselves, be inclusive, see more good in others, and work collectively to build for the long term
What We Offer
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 leave, parental/maternity (20 weeks), sabbatical (12 months 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.
