Egypt Job Openings
Standard Chartered
Financing Securities Services Sales - Securities Services
Cairo
October 10, 2024
JOB SUMMARY
- The jobholder leads a dynamic securities services team responsible for delivering high quality service to some of the most demanding clients. He/ she plays a pivotal role in defining and overseeing the delivery of operational services for large financial institutions, including leading international banks, broker-dealers, fund managers and insurance companies which expect best-in-class service and operational standards. The role requires the jobholder to oversee close collaboration between the business functions of Operations, Sales, Implementation & Client Management and Product Management as well as a variety of internal support functions such as Risk, Compliance, Legal and Finance. The jobholder is expected to implement and comply with global and regional initiatives and to engage with other SS branches and regional SS management in a strongly collaborative manner.
- There is 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 SS business in Egypt offers direct and international custody. The SS Head is responsible for the strategic leadership, management and performance of the business within the context of regional and global business direction. The business contributes $450 million pa in revenue globally. It is a significant provider of cash balances and an efficient user of the Bank’s balance sheet. 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 P & L and local sales responsibility
- develops SS strategy for Egyptian market
- 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 at the local level
- oversees implementation of regional/global SS policies
RESPONSIBILITIES
Strategy
- Develops the Securities Services strategy for local market in Egypt, in conformity with the broader global and regional strategy for securities services
- Identifies opportunities and threats to the business as a result 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 securities services business in Egypt, including at a high level the performance of the functions which provide direct input to the business - SSO, FM, Implementation & Client Management, Sales, Product Management.
- Cultivates a collaborative, co-ordinated approach between SS functions, internal support and control functions and local senior management, especially within CIB (including FI Coverage). Represents SS perspective to local management and local management perspective to regional SS where necessary
- Takes a leading role in building and maintaining strong, robust relationships between securities services staff and market infrastructure entities such as stock exchange, securities depository, securities regulator, local brokers, clearing house etc.
- Significant engagement with key clients, especially premium clients, within the framework of the overall client management strategy and contact programme. Acts as the final escalation point within SS at the local level for client issues and queries.
- Oversees the implementation at the local level of policies and strategies, including service standard requirements, espoused by SS at the regional and global level, or seeks formal SS dispensation in the event that market practice or local regulations do not permit implementation.
Processes
- Directly responsible for understanding customer needs and develop the client value propositions that will address them across all client segments
- Work jointly with Product and Marketing to develop collaterals for local market, communicate product launches, organize customer events and develop a sales campaign strategy to ensure that the new products meet planned volume and revenue targets
- Ensuring global training initiatives are executed across all countries in the region in line with the global commercialization agenda.
People & Talent
- The business functions reporting to the jobholder also have equally-weighted, dual reporting lines to their functional managers. The jobholder provides active input to the performance management of the matrixed teams and - given the dual-line structure - will need to influence actions/behaviours in a sophisticated and subtle manner.
- 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.
- Provide objective and balanced input to P3 process for key staff with matrix reporting lines.
- Employ, engage and retain high quality people, with succession planning for critical roles.
Risk Management
- Identify and mitigate the Operational, Credit, Regulatory and Business conduct risks relating to SS products within the region.
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.
- Lead the Egypt FSS & Sales function to achieve the outcomes set out in the Bank’s Conduct Principles
- Effectively and collaboratively identify, escalate, mitigate and resolve risk, conduct and compliance matters.
- Adhere to the regulations of the Central Bank of Egypt (CBE), Financial Regulatory Authority (FRA), Egypt Clearing and Securities Depository (ECSD), Misr for Central Clearing, Depository and Registry (MCDR) and The Egyptian Exchange EGX.
Key Stakeholders
- The jobholder will take a leading role in managing the relationship with the securities regulator, in particular as regards the activities of the SS business but ensuring there is a broad range 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.
- He/she will also have an instrumental role in ensuring positive and effective co-ordination with internal business and support functions such as FI 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 Egyptian Securities Services team
- Perform other responsibilities assigned under Group, Country, Business or Functional policies and procedures. Multiple functions (double hats); Double Hats as Business Account Manager: (Separate JD in place for this role)
Qualification
- The jobholder will be educated to degree level with significant experience – normally a minimum of 10 years - in securities services or a closely related industry. Recognised industry qualifications would be an advantage
Role Specific Technical Competencies
- Business Case Justification
- Business Performance Management
- Emerging Technologies
- Knowledge of Product Line
-
Product Design and Development
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.
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