The Credit & Market Risk Operations team is responsible for providing Proof and Control for Counterparty and Market Risk data to the Credit & Market Risk Department, Global Standards and Disclosures and Regulatory Controllers.
It is a Global Team and the Mumbai team will be responsible for supervising and overseeing Credit and Market Risk reconciliations performed by our 3rd party vendor, Tata Consultancy Services (TCS), located in Chennai & Nagpur. In addition, the team is responsible for assisting with escalation of issues to appropriate contacts and maintaining control over the Credit & Market Risk Operations processes.
The successful applicant will work closely with the vendor management group and TCS to help ensure that TCS provides quality service as per the agreed terms and conditions of the contract.
The candidate will operate as a senior member within a team of individuals working together on a shared workload whilst reporting into a Team Manager. The candidate will have responsibility for people management of junior team members.
The candidate will be expected to organize the workload of the team and to be able to contribute to supervising work performed by the team. The candidate will be expected to analyze and improve processes, identify and manage risk and guide junior members of the team. As such communication and organizational skills as well as attention to detail and a readiness to escalate issues with a sense of urgency are of importance.
The successful candidate will have the following responsibilities:
? Review exceptions/breaks and the quality of research conducted by TCS and provide relevant feedback where necessary.
? Participate in Weekly Risk Meeting to review all outstanding risk issues with TCS.
? Assist and train the staff at TCS in exceptional processing cases, if necessary.
? Perform various intra-day & end of day control checks on occasional basis to ensure that TCS delivers quality output.
? Assist staff at TCS to perform root cause analysis and elimination of issues at source.
? Identify risk issues, escalate where appropriate and provide assistance in resolving.
? Ensure upward and peer communication of developments and issues.
? Review changes suggested by TCS related to process, documentation, etc. and approve by following the proper change management process.
? Perform various reconciliation functions for those processes retained within the Control Group.
? Ensure the team?s SLAs are met and, where possible, exceeded
? Actively seeking out opportunities to improve the teams control framework and ensuring controls are carried out in as efficient a manner as possible
? Ensuring existing procedures are documented, kept current and complied with
? Participate in testing to protect process from impacts of system/booking changes
? Developing and maintaining relationships with key stakeholders and business partners
? Build an understanding of our process and how this links to our clients requirements and the regulatory framework.
? Pro-actively communicate exceptions / issues within our processes which may impact our clients but are out with our immediate scope of reporting.
? Provide periodic updates on project deliverables to team management
? Must involve in project deliverables as per set deadlines
? Provide status updates on a regular intervals to senior management and project governance board
? Provide leadership & direction to team members as part of the project team
? Participate in weekly / monthly risk meetings with key internal stakeholders, providing updates on outstanding issues
In addition to day-to-day responsibilities, the team has a number of opportunities to get involved in ad hoc projects and process improvement work, including a current change project to migrate the system utilised for daily reconciliations and reporting.
Given the nature of the function, these responsibilities are not exhaustive and may change to support business requirements.
Skills required
? Proven analytical and problem solving skills, alongside the ability to assimilate and learn quickly
? Excellent verbal and written communication abilities
? Superb attention to detail, accuracy & quality
? Proven management experience. Skills in delegation, organization and people management to ensure the team works effectively and efficiently
? Strong time management and task prioritization skills. Willing to work additional hours to ensure all deliverables are performed within required timescales
? Strong sense of urgency, accountability and ownership
? Focus on guardianship, ensuring that issues are identified, escalated, resolved and reported on a timely basis
? A positive outlook, energy and enthusiasm. Is a self-starter who takes individual ownership for work quality and improvement. Leads by examples working with drive and determination
? Ability to work well under pressure, lending control and order to a difficult or pressurised situation
? Ability to absorb information and learns quickly
? Innovation and creative skills, challenges the existing processes and status quo.
? Excellent inter-personal skills
Skills desired
The following skills would be advantageous, but not essential, for candidates applying for this role.
? Knowledge of Market Risk Theory and Concepts
? Knowledge of Fixed Income, Equity & Commodities Products
? Knowledge of Firm Trading, Operations and Finance Systems
? Hands on experience (As BA / PM) on change, regulatory or strategic projects
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