Director, Head, Securities Services at Standard Chartered Bank

Job Summary

• The jobholder is functionally responsible for the delivery of the end-to-end Financing and Securities Services (FSS) product business in Nigeria in line with Regional and Global direction.
• The successful jobholder will play a pivotal role in defining, overseeing, and delivering the commercial agenda for the FFS business in Nigeria. The role requires the jobholder to oversee close collaboration between the business functions of Operations, Client Solutions and Product Management as well as a variety of internal support functions such as Risk, Compliance, Legal and Finance. The role also requires that the jobholder represent the business at country management level.
• The role requires that the jobholder be accountable for the delivery of the growth of the business with a particular emphasis on identifying and driving local market sales delivery and supporting local requirements for the origination of sales conducted Globally. The job holder will be required to demonstrate a strong competence in progressing the development strategy which includes Sales and the identification of product enhancements.
• With a strong focus on being the primary representative of the FSS business in Nigeria, the jobholder must develop or hold in existence strong market connectivity, represent the FSS business in local business forums and hold the requisite relationships with Market Infrastructures, Regulators, and Industry bodies to successfully advocate market best practise and represent our clients effectively.

Key Responsibilities

The jobholder is expected to implement and comply with global and regional initiatives and to engage with other FSS countries and regional FSS management in a strongly collaborative manner.

The securities industry is in a period of significant change due to cost pressures and regulatory initiatives and the jobholder therefore needs to keep abreast of local market developments and quickly identify business threats and opportunities.

In Summary, The Jobholder

• has overall local Profit & Loss (P&L) and local sales responsibility
• develops the FSS strategy for the Nigeria market in collaboration with Product and Regional Head
• ensures a collaborative, co-ordinated approach to issues requiring multi-disciplinary input.
• represents the business internally within the Bank
• manages relationships with local securities regulator and market infrastructure entities
• engages with key clients in the local market
• engages with key clients at a global level, in collaboration with the Global Sales and Relationship Management teams
• oversees implementation of regional/global FSS policies and must demonstrate a strong sense of risk awareness

Strategy

• Responsible for the FSS strategy for the local Nigeria market in conformity with the broader global and regional strategy for FSS
• Accountable for the financial performance of the FSS Nigeria business and delivery against budget
• Identifies opportunities and threats to the business because of changes in the local market, including changes to market regulations and competitor activity

Business

• Has overall ownership of the local P & L for the FSS business in Nigeria, including at a high level the performance of the functions across Client Solutions, SSO and Product Management.
• Cultivates a collaborative, co-ordinated approach between FSS functions and key stakeholders across Coperate & Institutional Banking (CIB)
• Works closely with the Country Markets Head in delivering the overall Markets business in country
• Represents FSS at local management level where necessary
• Takes a leading role in building and maintaining strong, robust relationships between with market infrastructure entities such as the stock exchange, securities depository, securities regulator, local brokers, clearing house etc.
• Significant engagement with key clients, which includes relationship building, opportunity identification and acting as the final escalation point within FSS at local level for client issues and queries.
• Oversees the implementation and alignment of Global and Regional policies and strategies, including service standard requirements or seeks formal Securities Services (SS) dispensation if market practice or local regulations do not permit implementation.
• Identifies target clients, works in collaboration with stakeholders, such as Financial Markets (FM) /FSS Sales and Client Coverage, to agree and execute on:
• growing incremental client income from existing SCB clients (New-to-FSS clients), through increasing wallet share and onboarding new services, and
• generating new client income from New-to-Bank FSS clients
• Works closely with internal stakeholders and external market data providers to accurately quantify the addressable wallet, develop a pipeline of key clients, and a strategy for growing the pipeline, involving sales process initiatives and sales campaigns such as participation in external conferences, engagement in SCB research and client seminars, driving relevant marketing events, and participation in various SCB specific client segment and innovation fora
• Works closely with FSS Product Management to:
• Provide feedback in a structured manner to FSS Product, detailing specific client segment buying behaviours, opportunities, gaps, outstanding compliance, and risk action items.
• Proactively seek opportunities for client engagement with Product and new product initiatives
• Maximise the impact of market advocacy, product launches/ updates, marketing and client engagement events, and participation in industry events
• Promotes and maintains a positive and professional external personal profile through proactive representation of the Bank and FSS externally at industry thought leadership events, speaking at external conferences, and engaging in relevant industry participation events.

Processes

• Ensures that all sales pipeline data is accurately entered in our client management & sales tool (CRMx) and actively updated, capturing call reports and all pertinent deal activity in a timely manner.
• Ensures that all processes and governance is adhered to relative to pricing

People & Talent

• Lead through example in building appropriate culture and values. Set appropriate tone and expectations from team by working in collaboration with risk and control partners.
• Encourage through deeds and words a culture of openness and collaboration, especially within the functions providing securities services
• Ensure the provision of ongoing training and development of people, avoiding wherever possible “key person” risk.
• Employ, engage, and retain high quality people, with succession planning for critical roles.

Risk Management
 

• Responsible for identifying, assessing, monitoring, controlling and mitigating risks to the FSS business. Ensure an understanding of risk management issues among the SS team
• Ensure adequate oversight and governance over application(s) where the individual has been appointed as a Business Strategic Owner

Governance

• Responsible for assessing the effectiveness of the SS/FM governance, oversight and controls in the business and, if necessary, proposing changes in these areas
• Understanding of the regulatory framework in which SS operates, and the regulatory requirements and expectations relevant to the role.
• Responsible for delivering ‘effective governance’; capability to challenge fellow executives effectively; and willingness to work with any local regulators 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.
• Effectively and collaboratively identify, escalate, mitigate and resolve risk, conduct and compliance matters.
• Lead the Nigeria FSS business 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.] *

Key stakeholders

• The jobholder will take a leading role in managing the relationship with the securities regulator, by ensuring there is a breadth of contact points between SCB and the regulator. Similarly, the jobholder will manage relationships with market infrastructure entities such as the local stock exchange, central depository, clearing house, local brokers.
• The Candidate will also have an instrumental role in ensuring positive and effective co-ordination with internal business and support functions such as Financial Institution Coverage, Risk Mgt, Compliance, Legal, Finance, Communications as well as the in-country senior management team.

Other Responsibilities

• Embed Here for good and Group’s brand and values in Nigeria, Financing and Securities Services.

Our Ideal Candidate

• Securities Services product knowledge
• Technical Sales acumen
• Basic financial management expertise
• Transactional Banking and Financial Markets understanding
• Interpersonal, communication, problem solving skills
• Result Oriented mindset, Innovation, Opportunity – Seeking Behaviour and Strategic thinking