Job Title: Loan Administration Lead Specialist Grade: Manager, Grade 5 Reports to: Head of Structured Products, Banking & Shared Services Division: Office of the COO Department: Operations Location: London No. of direct reports: 0 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 Dubai, Hong Kong, Shanghai, Singapore, and New York. https://www.icbcstandardbank.com/ Division Summary The Operations department 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.
The Operations department performs the following functions:
LME Trade Clearing Services
Clearing and Vaulting Services
Structured and Banking Products support
Facilitation of trade finance and documentary credit products
Payments Sanctions Screening
Balance sheet substantiation
Nostro production and reconciliations
Risk and control oversight and monitoring
Cash, Interest Claims and Nostro management
Operations currently utilise Standard Bank South Africa ("SBSA") to provide the following service although this will be re-patriated to London over the latter part of the year:
FX and NDF settlements
Job Purpose Banking Operations is responsible for the administration and settlement of the Bank's primary and secondary loans trading activity and other prepayment structures. This includes:
Documentation review and execution;
Transaction booking validation;
Balance sheet substantiation;
Banking book collateral support;
Covenant monitoring and escalation.
The function reports into the Head of Structured Products, Banking and Shared Services, with "Shared Services" being comprised of Cash Management, Brokerage and Claims, Network Management and Payment Sanctions Screening.
As a Banking Operations Senior Specialist, the successful candidate will assume overall responsibility for maintaining efficient operational and control processes to ensure smooth settlement of the bank's loan products.
The incumbent will ensure that overall execution of the associated processes is well-controlled and documented, that the appropriate tolerance levels for key performance and risk indicators are met and that they support the business adequately, escalating risks and concerns where necessary Key Responsibilities Leadership and management
Leading the Banking Operations Team under the direction of the Head of Shared Products, Banking and Shared Services Operations.
Ensuring that the daily tasks required of the function are carried out in an accurate and timely fashion.
Delivering the strategy for Banking Operations as communicated by the Head of Shared Products, Banking and Shared Services Operations
Ensuring that the processes within Banking Operations work effectively and efficiently.
Attending governance forums as and when required.
Supporting the Operations management team by proactively maintaining a good working relationship between the Bank's Banking business and the Operations department.
Ensuring adherence to all relevant Bank standards and policies.
Ensuring that the service provided by Banking Operations to internal and external clients is delivered to an excellent standard.
Ensuring that Banking Operations works collaboratively and effectively with other Operations teams in all global locations to enable excellent service to be delivered by the Operations department to internal and external clients.
Proactively and promptly remediating any instances of substandard service delivered by Banking Operations to any internal or external clients.
Co-ordinating effectively with colleagues within Banking Operations and Structured Products globally to ensure that full coverage is offered to internal and external clients, irrespective of where they are based.
Ensuring that Banking Operations maintains close communication lines with the relevant desks across all global offices.
Ensuring that Banking Operations works collaboratively with other departments in the Bank, particularly when providing information, contributing to Bank-wide initiatives/projects, and reporting information to management.
Balancing Banking Operations' compliance/acquiescence with stakeholder requests with some degree of respectful challenge to stakeholder requests.
Working closely and collaboratively with Technology colleagues to ensure that systems relied on by Banking Operations are fit for purpose.
Working collaboratively and productively with the Bank's second line of defence and third line of defence functions as well as external auditors to understand and remediate the risks within, relating to or impacting Banking Operations.
Processes and procedures
Ensuring the effective and efficient operation of processes within Banking Operations.
Taking proactive steps to optimise processes within Banking Operations on a continuous basis.
Ensuring that processes are accurately captured in written procedures and that these procedures are continuously updated, particularly when there is evidence that procedures may be out-of-date, inaccurate, incomplete or insufficient to manage risk.
Ensuring a robust follow the sun coverage model for all tasks within Banking Operations and Structured Products.
Identifying and managing risks within Banking Operations including operational risks, regulatory risks, conduct risks, cyber security risks and financial crime risks (including, but not limited to, risks associated with money laundering, terrorist financing, bribery and corruption, sanctions breaches and fraud).
Undertaking regular reviews of controls within Banking Operations to ensure that these continue to be fit for purpose.
Working collaboratively with Operations Control on risk management and control enhancements (but without over-reliance on Operations Control).
Promptly escalating new risks to the Head of Structured Products, Banking and Shared Services Operations.
Proactively and promptly managing any risk incidents that relate to or impact Banking Operations.
Working with the business and Operations Management to ensure that all new products and any business changes are fully embedded in a controlled way into the Bank's risk framework.
Ensuring own knowledge and cross training with colleagues with regular check-points/refresher training to keep abreast of any business developments within the Structured Products space
Providing coverage and support for the Structured Products function during periods of absence/increases in workload
Providing adequate training to Structured Products colleague on Banking Operations processes and procedures.
Escalating to Structured Products and the Head of Structured Products, Banking and Shared Services Operations when there are perceived concerns/gaps in knowledge or ability to provide coverage due to knowledge or capacity.
Working collaboratively with Structured Products colleague to build the concept of "team".
Reporting and MI
Providing regular performance MI to the Head of Structured Products, Banking and Shared Services Operations
Reporting promptly any significant performance, service or risk incidents to the Head of Structured Products, Banking and Shared Services Operations
Skills and knowledge
Demonstrate continuous development in knowledge and skills relevant to this role (with line manager support as appropriate).
Staying abreast of industry matters affecting, or potentially affecting, the work performed by Banking Operations including evolving standards or new working practices.
Extolling the Bank's values and promoting those values within the Operations department.
Promoting integrity and openness across the Operations Team and in its client and stakeholder service.
Supporting integration initiatives between the Operations department and ICBC head office / other ICBC entities.
Willingly participating in Operations and Bank-wide initiatives i.e. People Champions, Engagement Survey etc
Preferred Qualifications and Experience
Fluent in Mandarin (Written, Business & Spoken)
Experience required to successfully perform the role:
Previous experience in a financial institution is essential
Previous management experience in a financial institution
Previous experience of Banking Operations/Loans is essential
Previous experience of risk and settlement systems is essential
Knowledge, technical skills and expertise:
Proven track record of market knowledge of Loans/Banking Products is essential
Control knowledge is essential
Previous track record of Loan Administration experience is essential
Knowledge of relevant regulatory standards and rules
Strong relationship/stakeholder management skills
Solid understanding of typical risk management practices within a bank
Proficient IT skills
High level of integrity
Focused on results and delivery
Effective stakeholder manager
Ability to navigate complexity
The role would suit someone who:
works well under pressure
is able to adapt quickly and effectively to changing circumstances
looks for the opportunity to make positive changes to processes and procedures
Location: London Salary: £75-£82k
All applications must be submitted by 19th November 2019
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Requirements: Locale London
Internal Number: 6708398
About ICBC Standard Bank Plc
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