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Operations Analyst

Operations Analyst

ICBC STANDARD BANK PLC Singapore BranchSingapore
8 days ago
Job description

ICBC Standard Bank Plc (ICBCS) is 60% owned by Industrial and Commercial Bank of China and 40% by Standard Bank. ICBCS benefits from a unique Chinese and African parentage and an unrivalled global network and level of expertise.

ICBCS is a leading financial markets and commodities bank, driven to deliver the right outcomes for our stakeholders, clients, counterparties and the markets in which we operate. We deliver products in an environment which considers the appropriate needs of our clients, whilst providing guidance and expertise to ensure our employees understand our business and uphold the highest levels of conduct.

Headquartered in London, ICBCS also has operations in Shanghai, Singapore and New York.

At ICBC Standard Bank, we share the same values, challenges and opportunities. We are a diverse, close-knit, global team with a unique heritage and purpose. We put people first, and give talented, self-driven professionals the flexibility, rewards and freedom to grow their expertise, seek new opportunities and realise their potential.

https : / / www.icbcstandardbank.com /

Division Summary :

Singapore's Operations is instrumental to Global Markets' business. Supporting key functions that are vital to the success of the business, upholding integrity in operations executions and protecting the excellent reputation of the bank. Commodity Operations consists of 3 main areas (Physical Commodities Operations / Trade Support / Documentation Credit) with its own roles and responsibilities. Every personnel are empowered with technical knowledge and skills to perform their role, with the objective of developing them into subject matter expert in their area of expertise.

The Physical Commodities Operations (Precious / Base / Energy) manages all aspect of physical delivery and receipt of commodity products for the Bank. This involves the movement, storage, cash & safe settlement and reconciliation processes around these products. The function facilitates all business generated by the Front Office dealing in Commodities Physical transactions and other complex trades and facilities. It establishes and upholds essential control function around the monitoring and capturing of all inventory and movements physical commodities businesses by liaising with Vaults / Warehouses / Clients to ensure prompt, accurate and timeliness of physical metals delivery to the clients during the Asia time zone.

FIC Operations consists of the following key functions :

  • FX, money market, NDF and OTC derivative settlements
  • Cash Management
  • Collateral Management (FOA / TOB / MTA / CSA / ISDA / GMRA)
  • Interest Claims

Settlements are responsible for the settlement FX, money market, NDF and OTC derivative transactions. This includes settlement matching, standard settlement instruction sourcing and assignment, reconciliations and investigation of related breaks and client queries and escalation.

Cash Management is responsible for the daily management and monitoring of our nostro accounts which is a pivotal role in us fulfilling our contractual settlement obligations and also ensuring that we avoid any regulatory liquidity breaches. Job purpose includes : -

  • Management of Cash and Intraday Liquidity;
  • Intraday monitoring of cash balances and escalating as per agreed Escalation Matrix
  • Liaising with business and settlements teams to ensure that all cash movements are captured and accurately reflected;
  • Cross training across the immediate team but also the wider Operations department to ensure that all staff are aware of the importance of accurate and timely funding.

    • Collateral Management manages the collateral aspects for the bank. This team is responsible to send out margin notices, monitoring margin acceptance from clients / AEs, maintain proper records of the calls, handles exceptions and acting as a key contact for client queries.

    Interest Claims involved investigation, issuing and processing of interest claims from / to clients in a timely manner.

    Job Purpose :

    Commodity Operations is responsible for execution of all aspects of physical delivery and receipt of Commodity products (Precious Metals, Base Metals, Energy). This involves the movement, storage, safe settlement (Cash and Metals) and reconciliation processes around these products. Act as a control function around the monitoring and capturing of all inventory and movements in the Commodity businesses by liaising with vaults, warehouses and clients to ensure prompt, accurate and timely delivery of services to clients.

    FIC Operations is responsible for ensuring the complete end-to-end processing of the Bank's transactions and services. They are responsible for ensuring that the appropriate control framework exists to ensure the accuracy of this processing as well as the recording of this in the Bank's books and records. Operations is also responsible for the accurate and timely reporting of the Bank's transactions to multiple regulatory stakeholders globally.

    Key Responsibilities :

    Performance

  • Assist line Manager in day to day BAU
  • Engage Internal Stakeholders within Singapore and cross jurisdictions (SG / LDN / SRC) to assist on problem resolutions whenever possible
  • Exercise reasonable care and diligence in all work related activities
  • Ensure no audit point (Internal / External) in area of responsibilities
  • Achieve zero operational loss in area of responsibilities
  • Ensuring that the service provided to internal and external clients is delivered to an excellent standard
  • Participate in stakeholders' meetings / conferences in all Operations related matters
  • Escalate any issues relating to day to day operations to Line Manager, Operations
  • Be involved in New Product discussions
  • Participate in Projects
  • Act as role model in living the Bank's values

    • Leadership and People Management

  • Ensure core competencies among the team members
  • Execute cross training opportunities among team members
  • Motivate and provide mentoring to junior team members
  • Engage cross border training(LDN / SRC) whenever necessary
  • Take responsibility and proactively manage personal development and training

    • Process

  • Review all related Standard Operating Procedure (SOP) annually
  • Improve current workflows for efficiency and scalability
  • Design new process (when necessary) for new products
  • Assist in aligning the Global Physical Commodities processes whenever possible
  • Inventory management for physical stock in internal systems
  • Checking client confirmations and identify any discrepancies
  • Perform inventory reconciliations to internal systems and external parties as required
  • Ensure timely and accurate settlements for physical stock
  • Ensure relevant documentation is received from client counterparty
  • Ad-hoc project participation for enhancements to systems / process
  • Ensure that the appropriate controls exist in support of the change environment
  • Ensure that Risk items are escalated appropriately to ensure that the Business operates in a controlled manner and that all key risk issues are raised to management and key business stakeholders
  • Ensure strong partnership with peers across Operations and other functions
  • Constantly review the control framework to ensure that changes to the business operating model and the products traded are appropriately risk-managed

    • Productivity

  • Explore enhancement opportunities to improve systems' functionalities
  • Encourage creative thinking among team mates for work improvement initiatives
  • Reinvent processes that are deemed to be inefficient without compromising risk / control
  • Engage other teams outside of Singapore to share / adopt best practices

    • Required Skills, Knodge, Experience and Values :

    Preferred Qualifications and Experience

  • Degree in Business or other field
  • Previous experience in Banking Operations preferred
  • Preferably some knowledge in similar role

    • Experience required to successfully perform the role

  • Detailed understanding of transaction lifecycle
  • Proven history for process enhancement / improvement and remediation

    • Knowledge, technical skills and expertise

  • Proven capability to work independently with minimum supervision
  • Experience in Physical Commodities Operations (Base / Energy / Precious) or FIC Products
  • Foresight and ability to design / document strategic solutions
  • Resourceful and effective in solving problems
  • Able to work effectively under pressure to produce results within deadline
  • Good communication skills and people skills with ability to interact with internal and external parties
  • Client focused mindset
  • Diligent on all job related tasks

    • Personal attributes

  • Global mindset
  • Resilience
  • Client mindset
  • Pays attention to detail
  • High level of integrity

    • The role would suit someone who is :

  • Able to navigate complexity
  • Results-orientated
  • High level of integrity
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    Operation • Singapore