Head of Security Services

Job description / Role

SCB's Securities Services (SS) business has a unique footprint in Asia, Africa and Middle East with 40 footprint/access markets globally and in Africa anad in ME(Middle East) region. SCB is a key player in the Middle East. Clients include the largest financial institutions, comprising global custodians, broker-dealers, asset owners, fund managers etc who expect global best-in-class services. The role's principal responsibility is to leverage the above factors to provide a comprehensive suite of highly competitive but commercially viable products and market-leading solutions.

Key Roles and Responsibilities

The jobholder is expected to maximise SS opportunities and reputation through:
* Management of the entire suite of SS-related products, including direct custody, international custody, broker clearing solutions, funds services and fiduciary services
* Insightful analysis of industry developments, market changes and competitor offerings to identify threats and opportunities, assess the impact on clients and offer appropriate and innovative product solutions
* Monitoring changes to the regulatory environment and working with the global team to adjust product specifications as required
* Continuous review of existing products; ensures maintenance of up-to-date product documentation and high-quality collateral
* Fine-tuning of global product range, working closely with related parties such as SS Ops, maintain product consistency by strict gate-keeping of client-specific, but commercially viable, exceptions to standard business/operating model
* Extensive client interaction (within the overall client management strategy) to stay abreast of client agenda and thinking, to explain impact of market changes and to lead solution discussions
* Manage the regional product inventory, ensure products are regularly reviewed to ensure commercial viability; recommend products for retirement where they are no longer viable or fit for purpose
* Accurate financial forecasting for budgetary and strategic business purposes
* Drives market advocacy process through ensuring active participation in local industry forums and regulatory committees in conjunction with local Product & Country SS Heads
* Establishment and implementation of effective Channel management strategy to support custody products

The jobholder is highly influential in ensuring that the SS custody product range is relevant, competitive and profitable in the region, now and in the future. He/she also plays a key role in promoting SCB as an industry leader. Internally, the jobholder manages multiple stakeholders within SS itself and with associated parties such as Risk, Compliance, Legal to ensure solutions are effective, commercially viable and conform to Group and Country control requirements. In ME, the regional Product role for SS covers both Custody & Clearing and Fiduciary & Funds (unlike GCNA and ASA where responsibility for the 2 product sectors is separated).

The jobholder manages (directly or indirectly) and motivates all involved in the build and maintenance of SS products in region.

The jobholder provides strong support to the Regional Head of SS, AME noting that role is a double hat with the SS Product role for Africa. This role will deputise in managing the Africa SS Product agenda, as/when necessary/as directed by the Regional Head of SS

Strategy
* Key contributor to overall SS strategy for SS product range globally.
* Oversees local Product teams to ensure that products offered within the local market conform to the priorities for SS and that any non-core product is fully documented and approved at regional and global levels.
* Jobholder acts as key contributor to strategy for the SS business regionally
* Maintains cohesiveness of global Product model by managing the SS product suite within the region to adhere to the global model
* Identifies business threats and opportunities as a result of market, industry and regulatory changes which could impact the strategy for the business at country, region and global levels
* Contributes to definition of strategy for Channel Management within the overall Product capability

Business
* Closely monitors market developments and competitor activity; maintains closed contact with country product teams assesses potential impact on clients and SS business locally and identifies appropriate action where necessary
* Job scope covers the whole range of SS activity, including custody, broker clearing, funds services and fiduciary services
* Periodically reviews products to ensure profitability requirements and expectations continue to be met
* Co-ordinates activity across region to minimise overlap and maximise sharing and re-use of solutions
* Manages relationships with functions such as Risk, Credit, Compliance, Legal, Finance as they impact the evolution of the SS product suite locally

Processes
* Is responsible for quality and quantity of output from in-country teams
* Oversees management of product inventory in countries covered
* Represents key deals at regional and global NDR and PGC
* Leads the process for identifying innovative solutions for complex market and regulatory changes in region
* Enforces consistently high standard of market communications from countries
* Has regular senior-level contact with market regulators and infrastructures, promoting SCB as a leading player regionally and in-country. SCB is seen as a trusted adviser
* Briefs country Product heads on global and regional developments and how they impact local markets and clients

People and Talent
* Leads through example and builds appropriate culture and values.
* Works collaboratively within the SS team and within the global Product Management team
* Sets appropriate tone and expectations from Product Management and works in collaboration with risk and control partners.
* Ensures the provision of ongoing training and development of people; ensures that holders of all critical functions are suitably skilled and qualified for their roles with effective supervision in place to mitigate risks, proactively provides coaching to the team, creating an environment that fosters learning and drives a high-performance team ethos
* Employs, engages and retains high quality people, with succession planning for critical roles.
* Periodically reviews team structure/capacity plans.
* Sets and monitors job descriptions and objectives for direct reports and objectively provides feedback and rewards in line with their performance against those responsibilities and objectives.

Risk Management
* Product risks are identified and managed effectively
* Takes responsibility 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 and the team play in managing them

Governance
* Accountable for approving client-specific exceptions to standard product and service arrangements
* Maintains all appropriate Product documentation and approvals
* Assesses the effectiveness of the Group's arrangements to deliver effective governance, oversight and controls in the business and, if necessary, oversee changes in these areas
* Maintains awareness and understanding of the regulatory framework in which the Group operates, and the regulatory requirements and expectations relevant to the role.
* Delivers 'effective governance'; capability to challenge fellow executives effectively; and willingness to work with any local regulators in an open and cooperative manner.

Regulatory & Business Conduct
* Manages and oversees proper control and authorisation of local product inventories
* Displays exemplary conduct and lives by the Group's Values and Code of Conduct.
* Takes 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.
* Leads the Product Management team in AME and ensures products regionally achieve the outcomes set out in the Bank's Conduct Principles: Fair Outcomes for Clients, Financial Crime Prevention, The Right Environment.
* Effectively and collaboratively identifies, escalates, mitigates and resolves risk, conduct and compliance matters.

Key Stakeholders
* Closely liaises with ITO to determine commercially and operationally robust exceptions to standard product model
* Collaborates closely with associated support functions and business lines locally - such as Risk, Compliance, Credit, Financial Markets, Cash
* Manages the process of gaining necessary product approvals from the above functions
* Works with SS country head to maintain close relationships with local market regulators and market infrastructure providers such as stock exchange, central depository, clearing house etc
* Maintains strong relationships with Product Mgt heads globally, regionally and in other markets to ensure a co-ordinated approach
* Interacts regularly with clients to maintain clear view of changes in trends and requirements

Requirements

* Graduate or Post Graduate degree preferably in related discipline
* Preferred Experience in the region
* In depth knowledge of the Banking sector and products is preferred
* Preferred Experience in Financial or Banking Sector
* Arabic Speaker preffered

About the Company

Standard Chartered Bank started in 1958 in UAE with its first branch in Sharjah. The Group’s business gradually increased in Dubai with the opening of several branches and today, Dubai is the administrative hub of the Middle East and South Asia Region. In its 43rd year, the Bank enjoys the position of having the most extensive branch network among foreign international banks in UAE with 10 branches emirate-wide.

Standard Chartered is an international bank, focused on the established and emerging markets of Asia, Africa, the Middle East and Latin America with an extensive global network of more than 600 offices in over 50 countries. The three principal business groups are Global Markets, Personal Banking and Corporate and Institutional Banking.

In UAE, we are one of the leading banks, offering an extensive range of products and services for personal customers, local companies, multinational corporate and financial institutions.