Manager/ Senior Manager – Transaction Management Unit

Location: London

Hybrid: 3 days in office, 2 days from home

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. We want passionate and talented individuals who are motivated by high growth potential being achieved in doing business the right way.

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

Division Summary
The Risk division encompasses Credit Risk, Market Risk, Operational Risk, Business Continuity Management, Country Risk, Model Risk and Physical Commodities Risk Assurance disciplines.

Transaction Management Unit (TMU) is a new department within the Risk division, established to support the growth of non-standard loans and structured derivative transactions executed by the Fixed Income and Commodities Trading Desks. Their role is to facilitate smooth trade execution, settlement and perform post-trade review on these transactions.

TMU will challenge the existing Front to Back (FTB) control framework and partner with the Front Office and Support Functions to improve the risk and control environment.

Job Purpose
Work in partnership with the Front Office and Support Functions (including Legal, Credit Risk, Operations and Product Control) to ensure Global Market transactions are executed and captured in our risk management systems, in line with the product approval and legal documentation.

The successful candidate will contribute to the Front to Back (FTB) change delivery in collaboration with senior management across all Support Functions.

Key Responsibilities

Risk and Control Management

• Conduct Transaction Assurance reviews on selected non-standard loans and structured derivatives executed by Global Markets
• Verify trade bookings and ensure the trade details are captured in line with the executed legal documentation, Product Approvals and governance committee papers.
• Present findings to the Transaction Assurance Forum and partner with the Support Functions to design and implement actions to address improvements identified from the Assurance review
• Monitor and verify margin calculations and covenant ratio triggers do not breach the agreed thresholds
• Collaborative with all Support Functions to address booking discrepancies and identify process improvements to reduce Operational Risk
• Record material events in the Operational Risk Management system
• Escalate and report trade booking errors to senior management
• Analyse booking discrepancies for trends to enhance the control environment
• Produce regular Management Information (MI) analysis and present it to senior management
• Working collaboratively with the Bank's second and third line of defence to remediate risks issues.

Processes and Procedures

• Establish new procedures and ensure they are maintained as TMU's responsibilities increase
• Consistently apply and enhance the Trade Assurance Framework to all in-scope transactions
• Review and challenge existing processes and procedures to identify potential control deficiencies that could create operational weaknesses in the Bank's
  control framework.

Change Management

• Collaborate with Technology and Support Functions to improve the loan infrastructure to facilitate growth.
• Partner with Global Markets and Operations management to ensure new products and process changes are fully embedded into the loans and structured derivatives workflow

Preferred Qualifications and Experience

Experience required to perform the role successfully:

• Experience working in a regulated environment, ideally in Financial Services witha focus on Middle Office and post-trade reviews.
• Experience in implementing and improving policies and procedures
• Knowledgeable in Operational Risk Management principles

Knowledge, technical skills and expertise:

• Experience in Financial Services
• Strong report writing skills
• Ability to understand and interpret complex legal documentation and clauses including
• Loans (Facility Agreements, Participations, Coordination Agreements)
• Derivatives (CDS, IRS, Cross Currency Swaps, TRS)
• Master Agreements (ISDA, CSA, GMRA)
• Insurance Contracts
• Security agreements
• Strong Global Markets product knowledge, particularly
• Collateralised Loans
• Illiquid Assets
• Structured Finance
• Repo/Reverse Repo
• Total Return Swaps
• Securities lending
• Collateralised Loans
• Experience working with Front Office and Operations trade capture systems
• Knowledgeable in risk and control practices, with the ability to detect and
  highlight potential control improvements

Personal attributes:

• Attention to detail
• Results-orientated
• High level of integrity
• Strong interpersonal skills

The role would suit someone who is:

• Effective in relating technical subject matter to a non-technical audience
• Easily build strong relationships across all levels of seniority
• Navigate through complex products and documentation
• Work in ambiguity with conflicting priorities.