ICBC Standard Bank Plc (ICBCS) is 60% owned by Industrial and Commercial Bank of China and 40% by Standard Bank. ICBCS benefits from a unique Chinese and African parentage and an unrivalled global network and level of expertise
ICBCS is a leading financial markets and commodities bank, driven to deliver the right outcomes for our stakeholders, clients, counterparties and the markets in which we operate. We deliver products in an environment which considers the appropriate needs of our clients, whilst providing guidance and expertise to ensure our employees understand our business and uphold the highest levels of conduct. We want passionate and talented individuals who are motivated by high growth potential being achieved in doing business the right way
Headquartered in London, ICBCS also has operations in Dubai, Hong Kong, Shanghai, Singapore, and New York
This candidate is responsible for the Market Risk management of the Commodity desks.
In practice, the candidate will manage the market risk framework of the Commodities business area of the bank, ensuring that the market risks can be appropriately identified, measured, monitored and reported in line with the Market Risk policies and Risk Appetite of the bank.
The candidate will ensure compliance of the commodities area with market risk regulations that pertain to the UK jurisdiction. The candidate will also liaise and coordinate with Regional Heads in Asia and New York to ensure consistency of market risk policy relating to all commodity products; ensuring clean aggregated reporting to senior management.
The candidate will be responsible for analyzing and reporting the market risks on the aforementioned asset classes, as well as analyzing the new product s with respect to these asset classes.
Market Risk Analysis
Analyse market risk exposures within the Commodity Trading business area. Perform daily analysis on the evolution of the VaR and the key risk metrics.
Responsible for the accuracy of the VaR numbers, investigating the underlying cause of VaR changes as well as the maintaining the integrity of the back- testing.
Implement and develop an appropriate risk reporting process for the Commodity Trading portfolios. Highlight the key risk factor s and concentrations and their potential impact on the P&L using simulation tools.
Monitor the markets to pro- actively identify key developments that may impact the market risk profile of the commodities area.
Establish a strong working relationship with the Front Office team to gain a thorough understanding of their positions and trading strategies. Maintain open communications.
Establish a strong relationship with Risk Analytics and the model validation team with respect to Risk methodologies.
Ensure a clear and unequivocal communication of the limits and desk mandates to the desks. Always provide written evidence on agreed limit changes whether they are temporary or not.
Provide Front Office with ad hoc risk analysis and explanation of risk metrics.
Maintain clear and open communication between Product Control and Market Risk.
Risk Monitoring and Control
Maintain and enhance the stress testing framework for the commodity trading portfolios taking into account Market Risk and Front Office requirements, as well as evolving market conditions
Maintain an ongoing review of the Market Risk limit framework and desk mandates, including the calibration of the limits to ensure their compatibility with delegated authority and approved risk appetite. Ensure the limits are updated at least annually, but in practice more frequently when needed. Ensure the consistency between the different limit documents whether they are communicated on paper or on the website.
Monitoring of the Market Risk limits and application of the excess procedures. Investigate and report / escalate breaches as per Market Risk procedures, with an appropriate documented analysis of the cause and resolution of any breaches.
Ensure desk reports are signed off timeously as per current procedures.
Perform back- testing, providing a summary on business activity including major exposures and current market updates.
Daily VaR & backtesting commentary.
Provide MI on market risk from the commodities portfolio to the various management meetings and formal committees (e.g. Market & Liquidity Risk Committee). Reporting is done on a weekly, fortnightly, monthly, quarterly and adhoc basis.
Ensure that reporting is tailored to an appropriate level of granularity depending on the intended audience.
Key Interfaces (Excluding Reporting Line)
Commodity Front Office team
Market Risk Analytics
Model Validation Team
Product Control team
Market Risk IT team.
Preferred Qualifications and Experience
Ability to work autonomously and prior experience of heading a department.
Quantitative Education. (MA level or equivalent in a quantitative field)
Knowledge of the commodity asset class (specifically Base Metals, Precious Metals and Energy)
Experience of working in the Financial Services regulated environment.
Extensive Knowledge, market risk experience, technical skills and expertise.
Understanding of the PRA/FCA rules and regulations or equivalent.
Internal Number: 4813229
About ICBC Standard Bank
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