Associate Director/director Treasury Markets
Dubai, United Arab Emirates
Job Description
Job : Treasury
Primary Location : Africa & Middle East-United Arab Emirates-Dubai
Schedule : Full-time
Employee Status : Permanent
Posting Date : 11/Oct/2023, 8:36:11 AM
Unposting Date : 18/Oct/2023, 5:59:00 PM
Strategy
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:
Strategy
- Under the guidance of Head of Treasury Markets, the job is to raise and deploy liquidity to ensure the bank is in a position to meet all its obligations as they fall due (Intra-day and inter-day; incorporating conventional and Islamic Window activity ); to meet all regulatory requirements; to diversify the deposit base in a prudent manner; to pre-empt times of surplus and tight liquidity and to produce a curve reflective of the Bank\xe2\x80\x99s marginal cost of liquidity. Geographic coverage beyond the primary centre (SCB UAE Branch) can include DIFC, Saudi, Egypt and Bahrain OBU.
- Develop and implement strategies which reposition this risk, to maximise profitability both in the current year and through the economic cycle. The emphasis is squarely on medium term positioning and not on short term trading.
- Awareness and understanding of the Group\xe2\x80\x99s business strategy and model appropriate to the role
- Estimate and plan for the internal funding and deposit taking requirements of other units of the Bank
- Liaise with other business units to obtain the best possible view of asset pipelines and forecast liability generation
- Communicate the funding requirements / excess liquidity position with the Head of Treasury Markets. Convey capacity on limits
- Ensure adherence to all regulatory requirements and all internal liquidity metrics
- Determine the level of marketable security holdings to facilitate the Bank making payments within the local RTGS system (in relevant countries)
- Raise a flag to senior management on any concerns over the Bank\xe2\x80\x99s capacity to easily meet projected funding requirements
- Assist in managing the balance sheet pertaining to the Islamic Window in a Shariah compliant manner and consistent with the related SCB UAE Asset and Liability Management Framework for the Islamic Balance Sheet
- Proactive management of the interest rate risk of this portfolio in line with this view to maximize revenue, through mis-matching and re-balancing of interest rate positions along the yield curve, whilst bringing overall risk to the appropriate levels
- Meet all funding and deposit taking requirements whilst maintaining regulatory, stress and prudent liquidity requirements.
- Access the money markets as required; either with other banks directly or through interdealer broker; raising and placing liquidity to ensure liquidity limits are adhered to whilst maximising economic value to the Bank
- Being proactive in raising liquidity when it is cheap, deploying it when it is expensive
- Proactively establish and maintain good relationships with direct wholesale customers, including central banks Swap funding between currencies to meet liquidity requirements and to minimise funding costs
- Move funding between Treasury Markets desks as required
- Participate in local central bank operations and facilities as required
- Provide oversight to Treasury Markets Support in ensuring adequate intra-day liquidity to facilitate all payments / to meet pay-in obligations with CLS (in relevant centres)
- Liaise with the repo desk in order to manage a stock of eligible collateral for use within the LAB or act as intraday collateral for RTGS
- Preposition eligible securities at the local central bank to be used as backstop liquidity (where available)
- Forecast and advise the Head of Treasury Markets should there be a requirement to purchase securities to meet the statutory, stress, payments or prudent requirements
- Forecast and advise Head of Treasury Markets, should there be a requirement to raise medium term funding
- Discuss and agree with Head of Treasury Markets to produce daily yield curves for the Bank\xe2\x80\x99s marginal cost of funding in local and major foreign currencies, fixed and floating, for funds transfer from or to the rest of the Bank.
- Ensure this curve encourages an overall balance of liquidity yet does not unduly disadvantage any business unit
- Provide oversight to Treasury Markets Support functions in ensuring that liquidity risk from the commercial balance sheet is being transferred to Treasury Markets as per policy. Ensure that funding costs are accurately reflected, including the impact of stress and statutory holdings
- Manage the relationship with the local key stakeholders.
- Understand and be able to act on the Country Recovery Plan
- Ensure a full understanding of what is expected of Treasury Markets if the plan is activated
- Develop and maintain strong relationships with of the sources of standby and emergency liquidity, including central banks
- Actively monitor for and immediately alert senior management on any evidence that the bank could be about to encounter funding stress
- Awareness and understanding of the wider business, economic, and market environment in which the Group operates
- Treasury Markets business and risk management processes are defined and governed in various risk, governance and control committees.
- Responsible for identifying, assessing, monitoring, controlling and mitigating risks to the Group. Also, an awareness and understanding of the main risks facing the Group and the role the individual plays in managing them.
- The ability to interpret the Group\xe2\x80\x99s financial information, identify key issues based on this information and put in place appropriate controls and measures.
- Operate within Treasury Markets\xe2\x80\x99 liquidity and credit limits
- Provide oversight to Treasury Markets Support functions in MCO, Wholesale Borrowing, Survival Horizon, LCR, MTF and swapped funds guideline, as detailed in the Treasury Risk limits
- Flag any potential liquidity limit issues to Head of Treasury Markets in advance
- Flag any potential credit limit issues to Head of Treasury Markets in advance
- Assist Head of Treasury Markets to request for temporary and permanent limits to Treasury-Risk and Credit, where appropriate
- Assist Head of Treasury Markets to maintain desired ratios as directed by the Global Head of Liquidity Management
- Ensure Statutory (both Group, local and Islamic Window-specific) Liquidity requirements and internal Group Limits are adhered to
- Responsible for assessing the effectiveness of the Group\xe2\x80\x99s arrangements to deliver effective governance, oversight and controls in the business and, if necessary, oversee changes in these areas.
- Awareness and understanding of the regulatory framework, in which the Group operates, and the regulatory requirements and expectations relevant to the role.
- Responsible for delivering \xe2\x80\x98effective governance\xe2\x80\x99; capability to challenge fellow executives effectively; and willingness to work with any local regulators in an open and cooperative manner.
- Display exemplary conduct and live by the Group\xe2\x80\x99s 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.
- Contribute to the UAE Treasury Markets team in achieving the outcomes set out in the Bank\xe2\x80\x99s 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
- Act as a Rates Submitter as appropriate, in line with the defined Rates Setting Principles and as authorised and detailed in the respective Dealer Mandate.
- Money Laundering Prevention
- Ensure the procedure of suspicious transactions monitoring within Financial Markets is followed
- Report any issues related to money laundering prevention arising within the unit to Business MLPO and unit head
- Vet and assist in the investigation of suspicious transaction reports originating from unit staff
- Communicate with Relationship Manager (RM) on money laundering requirements and suspicious transactions
- Global Head of Liquidity Management, Treasury Markets, or his managers
- Treasury Markets Investment Management
- Sales Desks within FM
- ALCO (as appropriate)
- Treasury Risk (as appropriate)
- MTCR (as appropriate)
- DCM
- Head of Islamic Banking UAE
- Local and International Banks
- Local Central Bank, particularly the department involved in Money Market Operations
- Money Brokers
- Direct wholesale customers
- Embed Here for Good and Group\xe2\x80\x99s valued behaviour in UAE Treasury Markets team.
- Perform other responsibilities assigned under Group, Country, Business or Functional policies and procedures.
- Management of day-to-day liquidity risk
- ALCO strategy (as required)
- Revenue budget from money market dealings; pre-empting tight or surplus liquidity; switching between currencies; switching between centres; bid-offer spread
- Absolute fairness in all liquidity pricing to all business units of the Bank, acting in the Bank\xe2\x80\x99s best interests at all times
- Accurate forecasting and efficient usage of RWA
- Annual change in blended cost of funding and tenor
- Diversification of deposit base, by client, tenor, products and currency
- No unauthorized liquidity or credit limit excesses
- Minimising the statutory reserve costs as charged to other areas of the Bank
- Highly numerate, fast thinking
- A good understanding of cash, bond and derivative markets, with an emphasis on detail and anticipation
- Ability to build and maintain good relationships with internal and external partners
- Ability to spot funding, liquidity, and arbitrage opportunities within cash markets
- A high degree of complexity to balance the funding and placement requirements cross-currency and cross business units in real time
- A high degree of judgment in actions to ensure a prudent liquidity position without incurring undue cost, whilst erring at all times on the side of caution
- Liquidity Management
- Balance Sheet Management
- Financial Products and Markets
- Financial Analysis
- Market and Liquidity
- Products (Money Markets)
- Products (Foreign Exchange)
- Products (Interest Rate & Currency Swaps)
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
- 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.
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Job Detail
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Job IdJD1594624
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IndustryNot mentioned
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Total Positions1
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Job Type:Full Time
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Salary:Not mentioned
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Employment StatusPermanent
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Job LocationDubai, United Arab Emirates
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EducationNot mentioned