Job Description

Job: Risk
Primary Location: Asia-Singapore
Schedule: Full-time
Employee Status: Permanent
Posting Date: 01/Jun/2022, 12:43:52 AM
Unposting Date: 01/Jul/2022, 1:29:00 PM


About Standard Chartered
We're an international bank, nimble enough to act, big enough for impact. For more than 160 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
  
  
• Be better together, we can be ourselves, be inclusive, see more good in others, and work collectively to build for the long term

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, parental/maternity (20 weeks), sabbatical (12 weeks maximum) and volunteering leave (3 days), along with 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 - some of our roles use assessments to help us understand how suitable you are for the role you've applied to. If you are invited to take an assessment, this is great news. It means your application has progressed to an important stage of our recruitment process.

Role Responsibilities
Traded Risk Model Validation is a group that performs in depth technical model validations of models covering pricing, market and counterparty credit risk of derivatives spanning all asset classes. This opportunity is for a validator to perform model validations, build benchmark models and conduct testing and develop standardised model testing frameworks. Strategy

• The role sits with the Market Risk Validation (MR) team which focuses on VaR models. The role requires collaborative working both across the local team in the Singapore and other validators in Poland and London.

Business

• Work with stakeholders across business to ensure that market risk models are properly reviewed and validated.
• Liaise with key stakeholders, including sales & trading, front office quantitative analysts and developers, market risk management throughout the model risk model lifecycle.
• Contribute to the implementation of independent benchmark/alternative models and development of standardized testing suites to enable exploration and quantification of model risk.
• Delivery of validations of a high quality and according to agreed timelines.

Processes

• Traded Risk Model Validation is a group that performs in depth technical model validations of models covering pricing, market and counterparty credit risk of derivatives spanning all asset classes.
• This role is to perform model validations, build benchmark models and conduct testing and develop standardised model testing frameworks.

Risk Management

• Provide oversight of the model validations performed in the MR model space in the context of both internal and external (vendor) models to ensure they are fit for their intended use cases and that key risks are identified and communicated to stakeholders.
• Ensure sound judgement in the assessment of the strengths and weaknesses of modelling approaches.

Governance

• Actively participate in any key committees or other governance processes that oversee the performance of the MR models.
• Ensure compliance with any Operational Risk controls over processes that relate to validation activities.
• Awareness and understanding of, the regulatory framework in which the Group operates, existing and emerging regulatory requirements, and the expectations relevant to the role.
• Maintain an open and cooperative relationship in dealings with regulators.

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.
• Perform as a role model for the bank’s conduct agenda.

Key Stakeholders

• Head of Market Risk
• Sales and Trading
• Model Owner
• Model Developers

Our Ideal Candidate

• PhDs in highly numerical subject such as mathematics, physics, engineering or mathematical finance is expected. Other equivalent highly numerical qualifications/experience which demonstrate a high level of independent technical critique may be exceptionally considered but PhD is preferred.
• 2 plus years of Experience in either a model validation or model development role covering pricing, or risk modelling for derivatives for a minimum of three years is expected. Candidates with other similar technical experience will be considered.
• Demonstrable knowledge and ability to apply mathematical techniques in modelling problems ideally including stochastic calculus.
• Knowledge and some practical experience of coding, ideally including C++ but other languages would be considered.
• Strong communication skills to facilitate the ability to work effectively as part of a Global Team and liaise with key stakeholders. Fluency in written and spoken English.
• Strong writing skills with ability to present conclusions and recommendations from technical projects to a less technical audience.

ROLE SPECIFIC TECHNICAL COMPETENCIES

• Enterprise Risk Management Framework, Policies and Standards
• Financial Products and Markets
• Governance, Regulation and Risk Management - Risk and Control
• Business Ethics
• Organisational Governance
• Risk Management
• Regulatory Environment – Financial Services
• Data Gathering and reporting
• Managing Change
• Internal Controls

Visit our careers website www.sc.com/careers