Manager- ETD & Commodities

Key Responsibilities

Strategy
•    Ensure that all client and house trades are cleared and settled in a timely manner and adhere to bank and exchange policy. 
•    Monitor and pay the client and house margin calls in line with the rules of the exchange and settle all client and house queries in line with policy. 
•    High levels of engagement with stakeholders are needed to optimise current processes in order to make sure the department runs as efficiently as possible. 
•    As ETD (Exchange Traded Derivatives) Operations Associate you would also be expected to lead and take a proactive stance on new initiatives and projects to drive the business forward and work closely with the LME, ICE & CME Exchanges to deliver new market services to SCB. 
•    This is a key hire into the India ETD Operations team to deliver the operational requirements of Self Clearing to support the CME and ICE Clearing operations activities and other exchanges as required/ onboarded. 
•    Ensure timely and accurate reporting, settlement and reconciliation of Platinum Group Metals (PGM) VAT for SCB UK deliveries of Rhodium, Ruthenium and Iridium.

Business
•    Standard Chartered Bank (SCB) Technology, Transformation & Operations (TTO) has a dedicated Financial Market Operations which supports the market clients and products within Corporate & Institutional Banking (CIB). 
•    FM Operations has responsibility for the execution, control and continuous improvement of processes to support our Products & Clients. FMO has 3 distinct functions – Product Management, Regional/Country oversight and Processing Functions (Service Providers). 
•    This role has oversight for product management of Financial Market Commodity Operations including Futures, Listed and OTC Derivatives and Physical Commodities.

Processes
•    Maintenance of brokers, contracts, accounts in the banks systems to ensure STP trade flow
•    Top Day Trade Monitoring and allocations for ICE Group, CME Group (NYMEX, COMEX, CBOT) and LME and other exchanges as required/ onboarded
•    Monitoring Lifecyle events on TAS trades
•    Trade and Position Reconciliation 
•    Front Office – Back Office (FOBO) Reconciliations
•    Open interest management
•    Managing intra-day cash margin calls
•    Option Abandonment/Exercise
•    MIFID II CPR Position Reporting and CME/ CFTC Large Trader (Position Reporting) to the relevant exchanges 
•    CME FX Delivery Process
•    COMEX Physical deliveries (Warrants)
•    Platinum Group Metals VAT Invoicing, Payables and Receivables and Reconciliations for Rhodium, Ruthenium and Iridium. Face-off to clients and suppliers and ensure timely and accurate incoming and outgoing VAT reporting and payments for the SCB UK entity and others as required/ onboarded.

People & Talent
•    Ensure that there is a strong support model and staff contingency plan in place within the team at all times. 
•    Enhance the development of peers by imparting knowledge in your area of expertise.  
•    Work in collaboration with risk and control partners

Risk Management
•    Responsible for execution of the banks 1st line controls within the Trade Initiation Execution and Capture and Settlements and Clearing Processes. 
•    Ensure operational risk/loss incidents are logged and managed in accordance to group OR procedures.
•    Ensure a full understanding of the risk and control environment in area of responsibility 

Governance
•    Responsible for assessing 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 
•    Awareness and understanding of the regulatory framework in which the Group operates, and the regulatory requirements and expectations relevant to the role. 
•    Willingness to work with any local regulators/exchange in an open and cooperative manner.  

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.
•    Help the ETD Operations team to achieve the outcomes set out in the Bank’s 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.
•    Comply with all regulation including, CASS, EMIR, Dodd Frank, client identification, KYC and apply relevant AML procedures and all reporting as necessary.

Key stakeholders
•    Work in close synergy with the global ETD Clearing teams in London, US and Kuala Lumpur and Middle Office in London, Singapore, US and India to resolve daily BAU issues and ensure processes are executed efficiently.
•    Support the trading desks by being responsive to any questions and challenge when necessary. 
•    Work closely with Country and Group Operational Risk Functions to address control gaps or process weaknesses.
•    Support the Global Head of Commodities and ETD Operations and the COO office to execute the strategy of the FM Business. 
•    Support both country and product compliance to ensure the function is compliant to all regulatory and exchange requirements.  

Other Responsibilities
•    Embed Here for good and Group’s brand and values in the ETD Operations team, 
•    Perform other responsibilities assigned under Group, Country, Business or Functional policies and procedures. 

Skills and Experience

•    Internal Controls
•    Operational Functions
•    Products and Services
•    Relationship Management
•    Risk Management

Qualifications

Minimum Qualifications:
•    University degree preferred
•    Languages: English

Required Experience:
•    Subject matter expert on Exchange Traded Derivatives with a core understanding trade and post trade processes
•    ETD trade, position and cash reconciliations inclusive of fees & commission management
•    Additional knowledge of expiry and trade life-cycling is highly desirable
•    Minimum 3 years Financial Markets experience ideally from a top tier bank
•    Understanding of front to back process and systems flows
•    Strong understanding of commodities products including Base Metals, Precious Metals, Structured Inventory Product, Energy, Power & Gas. Financial and physical knowledge needed and highly advantageous.
•    Knowledge of Carbon Emissions and Voluntary Carbon Credits and experience of ICE Endex and CBL exchanges desirable.
•    Strong understanding of inventory finance of warrants/warehouse receipts/holding certificates preferred
•    Understanding of Precious Metals Deliveries and VAT treatment desirable.
Required Skills:
•    Analytical and process improvement mindset 
•    Strong inter-personal skills
•    Confident communicator able to adapt style to Front Office and Hubs colleagues
•    Ability to influence demanding individuals
•    Demonstrate strong teamwork and values mindset
•    Thrive on working in fast paced environment while maintaining attention to detail
•    Fast learner with the ability to think out of the box and provide solutions
•    Knowledge of vendor systems supporting ETDs (ION XTP, FIS, GMI or equivalent) Bloomberg, Murex v2.11 and v3.1 preferable plus LME SMART, LME SELECT, ICE Admin, ICE FEC, ICE ECS, CME Deliveries Plus, CME FEC
•    Proficient in Excel (pivots, lookups and basic VBA an advantage)
•    Experience of regulatory reporting would be advantageous (LGTR/ CPR)
•    Data Analytics Experience (Python or similar) desirable.

About Standard Chartered

We're an international bank, nimble enough to act, big enough for impact. For more than 170 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. If you're looking for a career with purpose and you want to work for a bank making a difference, we want to hear from you. You can count on us to celebrate your unique talents and we can't wait to see the talents you can bring us.

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
• Are better together, we can be ourselves, be inclusive, see more good in others, and work collectively to build for the long term

What we offer

In line with our Fair Pay Charter, we offer a competitive salary and benefits to support your mental, physical, financial and social wellbeing.

• Core bank funding for retirement savings, medical and life insurance, with flexible and voluntary benefits available in some locations.
• Time-off including annual leave, parental/maternity (20 weeks), sabbatical (12 months 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.