Associate, Liquidity Management

Job Summary

Standard Chartered Treasury Markets (TM) business is looking for a Dealer to join their Liquidity team in Singapore. Treasury Markets is part of the broader Treasury function and is responsible for interest rate and liquidity risk management. It is a front office function setup as a profit centre to directly face the market. TM combines an in-depth knowledge of both financial markets and B/S management, while balancing the twin requirements of profitability and risk management.  

In this role, the successful candidate will be exposed to a highly dynamic area of Standard Chartered and will have the opportunity to deal in financial markets while also gaining a deeper understanding of B/S management. This role will provide the successful candidate with the exposure to the broader Treasury community, as well as the FM business.

Key Responsibilities

• Responsibility for cash and liquidity management in multiple currencies via dealing in swaps, repos and interbank
• Participate as a Primary Dealer in MAS money market operations
• Manage liquidity risk within limits (both internal and regulatory) while driving overall B/S optimisation
• Keep abreast of market conditions and suggest trade ideas as appropriate
• Enhance B/S modelling and analysis to communicate and capture potential opportunities to senior management.
• Understand and monitor key P&L drivers for Treasury Markets. Suggest risk mitigation ideas and upgrade analysis/modelling 

Strategy

Estimate and plan for the internal funding and deposit taking requirements of the Bank:-

• Liaise with other business units to obtain the best possible view of asset pipelines and forecast liability generation
• Communicate the funding requirements / excess liquidity position with the Local Head of Liquidity. Convey capacity on limits 
• Ensure adherence to all regulatory requirements and all internal liquidity metrics
• Determine the level of marketable security holdings to facilitate the Bank making payments within the local RTGS system (in relevant countries)
• Raise a flag to senior management on any concerns over the Bank’s capacity to easily meet projected funding requirements

Business

Meet all funding and deposit taking requirements whilst maintaining regulatory; stress and prudent liquidity requirements:-

• Access the money markets as required; either with other banks directly or through interdealer broker; raising and placing liquidity to ensure liquidity limits are adhered to whilst maximising  economic value to the Bank
• Being proactive in raising and deploying liquidity
• Proactively establish and maintain good relationships with direct wholesale customers, including central banks Swap funding between currencies to meet liquidity requirements and to minimise funding costs

• Move funding between Treasury Markets desks as required
• Participate in local central bank operations and facilities as required
• Provide oversight to Treasury Markets Analytics in ensuring adequate intra-day liquidity to facilitate all payments / to meet pay-in obligations with CLS (in relevant centres)
• Liaise with the repo desk in order to manage a stock of eligible collateral for use within the LAB or act as intraday collateral for RTGS 
• Preposition eligible securities at the local central bank to be used as backstop liquidity (where available)
• Forecast and advise the Treasury Markets Liquidity Manager should there be a requirement to purchase securities to meet the statutory, stress, payments or prudent requirements
• Forecast and advise Treasury-Markets Liquidity Manager, should there be a requirement to raise medium term funding
• Issuances out of SCB Singapore under the CD/CP Programme

Processes

Discuss and agree with The Head, Treasury Markets, Singapore to produce daily yield curves for the Bank’s marginal cost of funding in local and major foreign currencies, fixed and floating, for funds transfer from or to the rest of the Bank:-

• Ensure this curve encourages an overall balance of liquidity yet does not unduly disadvantage any business unit
• Provide oversight to Treasury Markets Analytics in ensuring that liquidity risk from the commercial balance sheet is being transferred to Treasury Markets as per policy Ensure that funding costs are accurately reflected, including the impact of stress; statutory holdings and the like
• Manage the relationship with the local key stakeholders.

Risk Management

Operate within Treasury Market’s liquidity and credit limits:-

• Flag any potential liquidity limit issues (including MCO, Wholesale Borrowing, Stress test, NSFR, swapped funds) to LM Manager in advance 
• Flag any potential credit limit issues to LM Manager and/or HoTreasury Markets, Singapore in advance 
• Assist LM Manager and/or HoTreasury Markets, Singapore to request for temporary and permanent limits to GMR and Credit, where appropriate
• Assist LM Manager and/or HoTreasury Markets, Singapore to maintain desired ratios as directed by the Global Head of Liquidity

Governance

Understand and be able to act on the Country Liquidity Contingency Plan:-

• Ensure a full understanding of what is expected of Treasury Markets if the plan is activated
• Develop and maintain strong relationships with of the sources of standby and emergency liquidity, including central banks
• Actively monitor for and immediately alert senior management on any evidence that the bank could be about to encounter funding stress
• Were this plan ever to be activated, support the Liquidity Manager as the primary in-country agent for raising liquidity, under the direction of the LM Manager and/or HoTreasury Markets, Singapore 

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.
• Adhere to PRA and MAS standards

Key stakeholders

• Global Head of Liquidity, Treasury Markets or his managers
• Treasury Markets Investment Management
• Trading & Sales Desks within FM
• Treasury (as appropriate) Key Managers
• ALCO (as appropriate)
• MTCR (as appropriate)
• TCRM (as appropriate)
• DCM
• GTO/Ops
• Client Businesses (eg CIB, CB, Retail, Private Bank)
• Product Partners (eg TB, FM)

External

• Local and International Banks
• Local Central Bank, in particular department involved in Money Market Operations
• Money Brokers 
• Direct wholesale customers

Other Responsibilities

• Revenue budget from money market dealings; pre-empting tight or surplus liquidity; switching between currencies; switching between centres; bid-offer spread
• Absolute fairness in all liquidity pricing to all business units of the Bank, acting in the Bank’s best interests at all times
• Accurate forecasting and efficient usage of RWA 
• Annual change in blended cost of funding and tenor 
• Diversification of deposit base, by client, tenor, products and currency
• No unauthorized liquidity or credit limit excesses
• Minimising the statutory reserve costs as charged to other areas of the Bank

Our Ideal Candidate

• Education     Academic or Professional Education/Qualifications; degree holder preferred, in Finance, Maths, Engineering or similar field
• Highly motivated individual, able to work independently, is comfortable with ambiguity, able to multi-task effectively in a fast paced environment and work as part of a team.
• Strong analytical and problem solving skills and proficient in data analysis. Python / VBA knowledge is desirable.
• 6+ years’ experience in money markets or a related field 
• Training    Completion of  all required mandatory & developmental training – role specific, and regulatory/compliance bank wide 
• Licenses     As per the local and global regulatory requirements
• Certifications     As per the local and global regulatory requirements

Role Specific Technical Competencies

• Manage Conduct
• Risk Management and Internal Controls
• Manage People
• Risk Management – Market / Liquidity
• Financial – Balance Sheet Management
• Financial – Yield Curves
• Bank Treasury Management – Treasury-Markets
• FM Products – Money Markets
• FM Products – Fixed Income Analysis
• Treasury Operations – Liquidity Management 

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.

Recruitment Assessments

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Visit our careers website www.sc.com/careers