Director, FX Options Trader

  • Standard Chartered
  • New York, NY, USA
  • 31/01/2020
Full time Executive Management Trading

Job Description

About Standard Chartered

 

We are a leading international bank focused on helping people and companies prosper across Asia, Africa and the Middle East.

 

To us, good performance is about much more than turning a profit. It's about showing how you embody our valued behaviours - do the right thing, better together and never settle - as well as our brand promise, Here for good.

 

We're committed to promoting equality in the workplace and creating an inclusive and flexible culture - one where everyone can realise their full potential and make a positive contribution to our organisation. This in turn helps us to provide better support to our broad client base.

 

RESPONSIBILITIES

 

Strategy:

  • Apply the Bank’s business strategy to day to day customer flow, pricing, risk management
  • Assist in developing and implementing strategy for FX Options in the West
  • Identify business development opportunities
  • Maximise total product income by ensuring effective end to end client risk management/service
  • Awareness and understanding of the Group’s business strategy and model appropriate to the role

Business:

  • Generate revenue for the bank through trading FX options for the G10 block (G10 FXO main focus) and Asia EM secondary focus
  • Communicate with Global FXO team updating relevant book-runners in case of significant market events
  • Increase SCB’s visibility in the region through competitive pricing, market commentaries and idea generation in FX Options
  • Understand wider business, economic and market environment in which the firm operates
  • Deepen existing client relationships through regular conversations and by giving market colour in line with guidelines
  • To work with Sales and RM to identify new prospects and client opportunities
  • To explore new products and structures to increase the breadth and depth of the market
  • Manage risk from client trades
  • Seek and take advantage of market opportunities

Processes:

  • Accountable for establishing and maintaining frameworks to ensure FXO processes are efficient, appropriate and compliant.
  • Accountable for effective management of operational risks within FXO.
  • Exercise all supervisory responsibilities as outlined in the FM Code of Conduct.
  • Ensure adherence to all internal and external regulations. Ensure that the business meets its obligations the prevention of money laundering under the Group Policy and Standards and under local laws and regulations. Ensure that there are appropriate and documented internal controls and procedures in place. Monitor the operation of such procedures and controls and regularly review them to ensure that they reflect any changes in products, systems, policy and regulations

People and Talent:

  • Lead through example and build the appropriate culture and values. Set appropriate tone and expectations amongst colleagues and work in collaboration with risk and control partners.
  • Contribute to continuous process improvement and sharing best practice.

Risk Management:

  • Risk-manage G10 FX Options portfolios and Structured FX products as part of global FXO team
  • Execute hedging strategies for FXO books agreed with book-runners, located in other regions
  • Responsible for identifying, assessing, monitoring, controlling and mitigating risks to the Group. Also, an awareness and understanding of the main risks facing the Group and the role the individual plays in managing them
  • The ability to interpret the Group’s financial information, identify key issues based on this information and put in place appropriate controls and measures
  • Comply with guidelines as outlined in the annual dealer mandate
  • Embed Operational Risk monitoring as an integral part of the business process. Towards this, to effectively carry out the assigned role, if any, under Compliance Risk Management and Operational Risk Management Assurance
  • Monitor all major risk issues and concentrations and ensure that trading limits are adhered to by all FXO traders
  • Effectively manage the risk from customer transactions

Governance:

  • Responsible for assessing the effectiveness of the Group’s arrangements to deliver effective governance, oversight and controls in the business and, if necessary, oversee changes in these areas
  • Awareness and understanding of the regulatory framework, in which the Group operates, and the regulatory requirements and expectations relevant to the role.
  • Willingness to ‘speak up’ in the event of any realised or perceived breach of group conduct rules or laws by colleagues
  • 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.
  • Promote an environment where compliance with internal control functions and the external regulatory framework is a central priority of the FXO business
  • Establish, maintain and supervise the framework to ensure business functions under my area of responsibility comply with internal policies, procedures, codes and applicable external laws and regulations and adhere to the expected high standards set out in the FM Code of Conduct
  • Ensure the overall targets relating to budget are cascaded to teams with appropriate product targets and performance delivery on targets is proactively managed

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.
  • Assist the team to achieve the outcomes set out in the Bank’s Conduct Principles: Fair Outcomes for Clients; Effective Financial Markets; Financial Crime Compliance
  • Effectively and collaboratively identify, escalate, mitigate and resolve risk, conduct and compliance matters.

Key Stakeholders

 

Internal:

 

 Global Head, FX

 

 Regional FM Heads, Europe and Americas

 

 Head of Structuring, Europe and Americas

 

 Regional Heads of Sales, Investors and Corporates

 

 Global FXO traders

 

 Support functions like Back and Middle Office,

 

External:

 

 Key clients and potential clients

 

 Local and regional regulators

 

Financial Services organisations and relevant trade bodies and associations

 

Other Responsibilities:

  • Embed Here for good and Group’s brand and values in Financial Markets globally.
  • Perform other responsibilities assigned under Group, Country, Business or Functional policies and procedures.

QUALIFICATIONS:

 

Must have:

  • 3 years or more of practical experience market-making and risk-managing FX Options (such as JPY, AUD, CAD and NZD)
  • 3 years or more of practical experience pricing, executing and risk managing First-Generation exotic FX Options
  • Robust up-to-date Macro understanding of G10 economies and likely impact on relevant FX markets

Apply now to join the Bank for those with big career ambitions.

 

To view information on our benefits including our flexible working please visit our .