• Negotiable
  • Singapore
  • Permanent, Full time
  • Standard Chartered Bank Singapore
  • 28 Dec 17

Head of Securities Services Operations Singapore

  • Location: Singapore
  • Salary: Negotiable
  • Job Type: Full time

Please view Job Description for details.

The jobholder is part of a dynamic team responsible for delivering high quality service to some of the most demanding clients. He/ she plays a pivotal role in defining and maintaining operational services for large financial institutions, which include leading international banks, broker-dealers, fund managers and insurance companies. The role requires close collaboration with business functions such as Sales, Client Management and Product Management as well as a variety of internal support functions such as Risk & Control, Compliance, and Finance. There will be extensive interaction with senior securities market individuals and infrastructures such as stock exchanges, securities depositories, clearing houses and local brokers. Close liaison with market regulators is also a key part of the role, building strong relationships and using in-depth market knowledge to be viewed by them as a trusted adviser.

The jobholder is directly responsible for building a cost-effective, robust, and scalable operating environment for the Securities Services (SS) business in Singapore in an environment of continuous improvement. He/she will have the opportunity to help shape best practice, in line with global standards and policies, not just in Singapore, but globally in support of the International Custody strategy and management of the GPE (Global Processing Entity).

Beyond the functional responsibilities, as a direct report to Chief Information Officer (CIO) the jobholder as a senior member of the Singapore ITO leadership team, is expected to provide mature and extensive interaction with senior Singapore ITO managers and Singapore Country Management Team (SG CMT) in the execution of Singapore strategy, ensuring consistency with, and active inclusion of, the Securities Services International perspective and strategy.

Key Roles and Responsibilities

* Implements and manages global service standards, as defined by SG CMT & CIO, Global Head SS Operations and Global Head SS and contained within the TOM for the Securities Services business
* Ensures compliance with all Group and Country policies, Code of Conduct, statutory regulations and laws
* Takes active lead in designing and implementing best-in-class, globally consistent solutions except where impossible due to regulation or market practice. Under such exceptional cases, jobholder takes lead in identifying simple, effective non-standard solutions for approval at regional/global level
* Works with senior market professionals to bring efficiencies to the local market and eliminate anomalies wherever possible
* Analyses strategic service delivery issues relating to technology, process, human resource, and service quality and identifies and implements appropriate solutions
* Ensures the operations team is optimised in terms of people, process, platform, product, and place. This will include service, risk, efficiency, cost, control, capability, and capacity planning

* Provides best-in-class operational client support service to answer clients' operational queries and issues
* Works closely with business leaders in Sales, Client Management, and Product Management to ensure that the services delivered by operational platforms conform to most stringent client service level agreements and internal benchmarks; optimises balance between service standards and cost management
* Operate and manage budgets effectively
* Proactively works with operations head in other countries to identify key and potential staff; develops suitable career paths for them
* Represents SS in operations-focussed market workshops and industry committees
* Champions the identification and implementation of operational best practice across markets
* Ensures compliance with all relevant local and global regulatory requirements and industry best practice
* Drives continuous improvement culture to maximise cost and processing efficiency
* Minimises operational losses and manages within defined tolerances

* Oversees Change Management process from project initiation through to implementation in country
* Ensures that key business practices and service delivery processes are conducted in compliance with Group and country regulatory guidelines
* Identifies operational risks and establishes appropriate control mechanisms, both for in-country processes and services hubbed offshore
* Ensures any non-standard processes are risk-assessed and approved through the appropriate forum before delivery
* Escalates operational issues - especially those with substantial client impact - to CIO, Singapore; ASA Securities Operations Head and Singapore SS Head in a timely manner
* Monitors critical regulatory changes from SCB main global regulatory bodies (ESMA, PRA, FCA etc) and local regulators (MAS, SGX etc) to ensure ongoing compliance
* Works with central team to migrate appropriate, agreed functions to the Hub centres, whilst ensuring there is sufficient critical mass to support essential ongoing onshore operations
* Manages a strong, collaborative business relationship with counterparts in the hubbed operations centres. Maintains focus on end-to-end risk and service management, not only in-country but also for services which are hubbed
* Be a business co-creator, leveraging on strong operations connectivity within and outside of Securities. Identifies Singapore and cross-border cross selling opportunities to pass to the Sales team.

People and Talent
* Develops and embeds a high performance culture; develops talent to ensure a high quality succession pipeline; drives improvement in people engagement; and ensures the team is resourced and trained sufficiently
* Leads through example and builds the appropriate culture and values. Sets appropriate tone and expectations from the Singapore and Group ITO teams and works in collaboration with risk and control partners.
* Ensures that holders of all critical functions are suitably skilled and qualified for their roles, with effective supervision in place to mitigate any risks.
* Periodically reviews team structure and capacity plans.
* Sets and monitors job descriptions and objectives for direct reports and provides objective feedback and rewards in line with their performance.

Risk & Control Management
* Understands the main risks facing the Group and identifies, assesses, monitors, controls and mitigates accordingly.
* Manages Operations Risk effectively, including identification, communication and remediation of risks to the relevant forums
* Accountability - no audit fails; full remediation/root cause analysis and execution for ops losses

* Aligns the Operations agenda to the global and local business strategies, to global standards and the technology roadmap
* Actively participates as required in Singapore and/or Group committee or working group meetings
* Reviews effective governance and controls in the business and outsourced partners (namely GBS) and, if necessary, respectfully challenges unsatisfactory arrangements and recommends changes
* Works with local regulators in an open and co-operative manner.

Regulatory & Business conduct
* 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 Singapore ITO team to achieve the outcomes set out in the Bank's Conduct Principles: Fair Outcomes for Clients, Effective Operation of Financial Markets, Financial Crime Prevention, The Right Environment.
* Effectively and collaboratively identifies, escalates, mitigates and resolves risk, conduct and compliance matters.
* Discharged role of Director as prescribed in the Singapore Companies Act (Chapter 50)

Key Stakeholders
* Country Head, Legal
* Country Head, Compliance
* Group/Country Head, Internal Audit
* Country Business Heads
* Country ITO, Head of Risk and Controls
* Country ITO, Head of Country Technology Management
* Country ITO, Head of Programme Management
* Group ITO Technology Services
* GBS counterparts
* Group Architecture & Product Engineering teams
* Group Governance and Controls teams
* Global Sourcing
* Group Functions counterparts

* Auditors
* Regulators and other government departments/officials
* Industry partners, Banking Associations, etc
* Clients/Customers
* SCB outsourced vendors and Technology suppliers

Other Responsibilities
* Embed Here for good and Group's brand and values in SS Operations
* Perform other responsibilities assigned under Group, Country, Business or Functional policies and procedures.
Other Pre-requisites
​Extensive knowledge and Management experience of Asian sub-custody processing is a pre requisite for the role
Has at least 8 years of experience in Securities Services industry, specifically with a global custodian provider or a fund management operations company
Knowledge of Fund services Operations management would be considered favourably

How To Apply

You can search and view current opportunities across our organisation and apply immediately by visiting www.standardchartered.com and selecting Careers. To help speed up your application, please note the following:

- You will need to log in (or register if you are visiting our careers site for the first time) before you can apply for a specific role

- Some roles may require you to undertake an online talent assessment in addition to completing the application form (to facilitate this process it is preferable that you provide us with an email address as part of your contact information)
- We will ask you about your education, career history and skills and experience, it may be helpful to have this information at hand when completing your application

It usually takes 15 - 20 minutes to complete the application form; you can save your application at any time and return to complete it at your convenience.

Closing Dates

The closing date for applications is 30/09/2017. Please note all closing dates are given in Hong Kong time (GMT + 8 hours). We aim to respond to successful applicants within four weeks and will keep a record or your application in our database so that we can contact you when suitable vacancies arise in future.

Diversity and Inclusion

Standard Chartered is committed to diversity and inclusion. We believe that a work environment which embraces diversity will enable us to get the best out of the broadest spectrum of people to sustain strong business performance and competitive advantage. By building an inclusive culture, each employee can develop a sense of belonging, and have the opportunity to maximise their personal potential.