Global Markets, Operations, Head of Equities Operations
Overview of the Role This is a Global role within the Global Markets Operations division. The role is directly responsible for the operational functions directly owned by the Equities business division. This encompasses the following: • Middle Office & Trade Management
• Prime Brokerage - Client Operations and Asset Servicing
• The team is approx. 100 FTE including CS staff, affiliate service providers (Wipro/ eclerx). The team has a global footprint located in London, Dublin, Wroclaw, New York and Raleigh Durham.
• This role is closely aligned, and partners, with the Group Operations functions, and is accountable for the front to back delivery of efficient operational processes. In addition, the role will need to work closely with colleagues performing similar functions for the other business divisions, eg APAC, to help drive consistency and convergence of processes and technology where appropriate.
• The Role reports into the Global Head of Global Markets Operations with a dotted reporting line into the Global COO of Equities.
Key Deliverables in the role include:
Risk and Control
• Own and effectively run the operational risk profile of the functions supported, including important metrics, Audit points, SoX control matters and RCSA (risk and control self assessment) findings in accordance within the acceptable risk appetite
• Ensure that day to day operational business operates in line with agreed SLAs
• Ensure compliance with relevant regulations in the jurisdictions supported
• Ensure internal and external expectations are met with respect to the role of the function as a second line of defense
• Ensure a culture of escalation and a control mindset including promotion of and adherence to the culture and ethics standards
• Effectively craft and sponsor change, partnering with technology and key partners to execute and deliver within agreed budgets, timelines and risk profile.
• Identify opportunities for efficiencies and risk reduction through process improvements and automation, including the use of innovative technologies such as Big data/ Robotics/ machine learning etc
• Work with counterparts across the firm, including legal and compliance, to re-design the front to back client onboarding process to ensure that all aspects of reference data are collected and represented in the firm's systems in a complete, accurate and timely manner, the client's experience is optimized and the firm can meet its regulatory obligations, re: CASS, BCBS 239 etc.
• Meet the cost and efficiency targets set for the function.
• Continue to drive the location strategy to maximize the use of Business Development Centres (BDCs) and 3rd party low cost providers and reduce operating expense
• Identify further opportunities for process re-engineering to reduce costs and improve efficiencies and control
Leadership/ People Management
• Act as a transparent leader and role model for the function, including working reciprocally with senior partners in the business and other corporate functions
• Be an excellent manager of managers but also deliver alpha by driving strategy above and beyond the sum of the teams contribution
• Partner closely with the GM Operations Management Team to develop and support the delivery of the Global Markets business strategy
• Ensure the right skills set and resource mix to support the current and future operating model
• Promote a diverse workforce that benefits from internal mobility and career growth
• The successful candidate should possess the following skills:
• Broad knowledge of operational functions within an Investment Banking environment
• Strong leadership skills with the ability to work reciprocally to build a sense of shared purpose, influence others and gain credibility with a broad senior partner group
• Proven people management skills to ensure teams are appropriately structured and resourced to deliver optimum results coupled with the ability to attract, retain and develop the best diverse talent.
• Good judgement and decision-making combined with strong principles of good conduct and ethical behaviour
• Consistent track record of leading and motivating change in a dedicated manner
• Control mindset with understanding of risks inherent in processes and how to mitigate them
• Understanding of the regulatory landscape within which the role operates