Financial Market Operations Specialist at Standard Chartered Bank Nigeria

Full Time
Lagos
Posted 2 years ago
Applications have closed
Standard Chartered Bank Nigeria profile

Standard Chartered Bank Nigeria

Standard Chartered Bank – 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. As a leading international bank, we strive to help people and businesses prosper across Asia, Africa and the Middle East.

We are recruiting to fill the position below:

Job Title: Specialist, Financial Market Operations

Job ID: 2300008883
Location: Lagos
Job: Operations
Schedule: Full-time
Employee Status: Permanent

Role Responsibilities

Product Delivery: Responsible for end-to-end deal processing, settlements, confirmation, and record keeping of all FI deals.
Nostros reconciliation: To provide assistance and clarity required to reconcile and investigate all FI related items in Nostro to the investigation and reconciliation teams in Chennai (FI Control Chennai and MOC Chennai)
Ensure that all security balances in use by the FI & ALM trading book balances daily with CBN records in Depo-x as per the custody reconciliation shared by GBS.
In carrying out the above, the standards as defined in the CA, KCS, DOI and regulatory notices must be maintained at all times.

Key Responsibilities

Implement processes and procedures in accordance with approved operations strategy, best practice models and preferred system solutions as appropriate to the FI business.
New system testing and verification and determining appropriate action to be taken in new or unusual circumstances.
Ensure that all securities used by the FI book are reconciled daily and no FI related item is outstanding in Nostros get over aged. And that all breaks raised by MOC Chennai on the security reconciliation as it affects FMO is resolved with the investigation team on timely.
Maintain required standards of customer service quality, efficiency and productivity; and where necessary, analyse, review and develop methods of working to improve efficiency and reduce TAT.
Ensure compliance with all relevant laws & regulations, and that documented procedures are up-to-date at all times.
Investigate and promptly resolve (or escalate) any irregularities, and as first point of response to audit and regulatory queries on Fixed Income transactions
Render timely all regulatory reports required on FI business to business and stakeholder.
Advise hub of FI failed trade daily and ensure daily settlement status is circulated to FO under maker/checker
Ensure CBN Bids/auction are completed timely and accurately
Keep records of pledged security & bills held in custody for customer.
Ensure daily unsettled trades are advised daily to FMDQ
Ensure proper settlement of all EUROBOND trades by liaising with SSOPs
Ensure all Treasury Bills maturity are treated promptly and also all Coupon entries are corrected posted on due date.
Ensure that all required analysis, statistics, and returns are completed accurately and on a timely basis.
Keep the Head of FMO informed of personal achievements and alert him/her immediately to situations requiring escalation.
Manage relationships between the FMO, the FO, GBS and internal customers to ensure excellent interfaces between sales, trading and operations.
Ensure all FI Deals are booked in OPICS before settlement
Contribute to and implement detailed testing of disaster recovery contingency plans as it relates to Fixed Income trades
Review O/S confirmation relating to FI in the failed Shape dispatch list sent by EV team GBS to ensure proper resolution.
Ensure timely settlement of all FI deals.

KYC:

Ensure you 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.

CRM/AML:

Ensure/assist team in creation and maintenance of a compliance culture, undertake compliance monitoring, generate timely and accurate compliance reports if required, proactively advise Country Compliance on compliance issues, and updates new matrices as communicated by the BCC.

Other:

Manage customer complaints for the team
Track to ensure all query received within FMO are responded to timely by the respective desk officer
Be aware of and comply with Group Policy, Local Laws and Regulations relating to the prevention of Money Laundering and Terrorist Financing.
To provide operational excellence and project management support for the Head of Financial Markets, Nigeria as well as the Regional COO team. This includes the implementation and ongoing maintenance of the Operational Risk Framework (ORF), governance and conduct.
Assistance is also provided to Treasury-Markets and CMPS as per the Memorandum of Understanding signed between the business units.

Business:

Promote awareness and understanding of the regulatory framework in which the Group operates, and the regulatory requirements and expectations relevant to the role
Assist in the delivery of the management agenda – drive initiatives designed to improve financial performance, operational efficiency, and risk
Represent the business when interacting with the support functions.
Support the business in advisory capacity for business initiatives and requests’
Recommend and drive continuous improvements in the business, i.e. identify and executing ad-hoc improvements to business processes, policies, structure, and roles.

People and Talent:

Responsible for driving appropriate culture and values within the team. Setting appropriate tone and expectations for the team, work in collaboration with risk and control partners across all functions

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.
Effectively and collaboratively identify, escalate, mitigate and resolve risk, conduct and compliance matters.
[CBN, FMDQ prescribed responsibilities and Rationale for allocation].

Key Stakeholders
Internal:

Dealers
Global Markets Operations – Hub
Wealth Management Operations – Hub
Client Journey Line Managers
Risk & Control
Country Finance
Corporate and Financial Institutions

External:

Central Bank of Nigeria
Local Banks and Financial Institutions
External Auditors
Debt Management Office
Securities and Exchange Commission
CSCS
FMDQ

Requirements

Bachelor’s Degree with at least 5 year experience in treasury operations.
Sound knowledge of risk control and reporting
In-depth key knowledge of FMO products and local market practices.
Sound analytical and business process knowledge
Good communication and interpersonal skills
Managerial skills
Generally independent, but subject to limitations as per job description and restricted to group and local policies and procedures.
Ability to work within a multi-function, multi-discipline team environment with strong influencing and stakeholder management skills
Knowledge of all FMO related applications

Role Specific Technical Competencies: