Standard  Chartered  Bank

Director, Capital Issuance and Term Funding

Location
London
Salary
Competitive
Posted
01 Dec 2023
Closes
08 Dec 2023
Ref
2300020763
Contact
Standard Chartered
Approved employers
Approved employer
Job role
Finance director
Contract type
Permanent
Hours
Full time
Experience level
Director

The Director, Capital Issuance and Term Funding, will support the Capital Management team in the delivery of its objective to expertly manage the stock and flow of capital.

They will take ownership for processes, and work closely with team members on a range of deliverables. As such, this role will give excellent exposure to the capital management activities of a global bank, including capital issuance and deployment, stress testing, recovery planning, and managing the framework of capital limits and risk appetite. Working within a relatively small team, the role holder will be visible to senior stakeholders within Treasury, Risk, Finance and the businesses, and will have the opportunity build their network across the Group's diverse geographical footprint.

Responsibilities:

· Facilitate business activity by managing frameworks to direct capital resources optimally around the Group.

· Assist in evaluating capital issuance and funding options (markets, capital type and structure) to support organic and inorganic growth strategies.

· Support capital issuance and capital restructuring projects relating to the Group and its subsidiaries - including assessment of issuance options, coordination of tax / accounting / legal issues, documentation, internal approvals, external approvals, due diligence and execution to facilitate completion of project within set deadlines.

· Evaluate and recommend capital issuance, buy-back and funding options including market, security type and structure to support the Group's strategy in line with the Board-approved capital and liquidity risk appetite.

· Support the team in the maintenance of the Group's debt portfolio of ~$50bn of securities across multiple debt programmes and legal entities.

· Ensuring appropriate management information on capital projections is provided to senior management committees, particularly GALCO.

· Ensuring that issuance activity follows best practices, including Operational Risk requirements.

· Manage the issuance inputs into the various stress tests including BoE, ICAAP and internal stress tests.

· Manage calls of securities including PRA approval, governance, liaising with lawyers, paying agents, trustees and internal stakeholders.

· Support Medium Term Note issuance from SCB.

· Provide MREL slides for external disclosure and manage investor queries.

· Support ratings team and provide inputs for analysis and presentations to rating agencies.

Capital Management

  • Seeking internal approvals for capital issuance from SCB Court, SC PLC Board or other party as necessary.
  • Seeking necessary external approvals for capital issuance / structure from PRA.
  • Seeking debt ratings from credit rating agencies.
  • Preparation of relevant documentation, including verification of any Prospectus produced with relevant internal parties, review of legal agreements, comfort letters, preparation of management due diligence responses, 144a due diligence, coordination of tax, accounting and legal issues.
  • Co-ordination and collation of documentary due diligence when required.
  • Establish and maintain effective external relationships to support capital issuance.
  • Review recommendations from investment banks and external legal counsel with regards to the restructuring of issued debt, including amendments to legal documentation following negotiations with external parties.
  • Manage and execute local debt capital issues with overseas units, including obtaining relevant Head Office approvals, advising unit on best practice for internal procedures.
  • Manage the Surplus LAC and report to CMG, GRAR and internal committees.
  • Manage Double Leverage (including AT1) in BAU and stress and prepare presentation for the expert panel.
  • Debt Maintenance

  • Supervise debt interest payments to ensure timely and accurate remittance to noteholders; review rate re-fixings on floating rate debt; liaise with Paying Agents as necessary on any queries.
  • Monitor continuing obligations on debt issues in conjunction with Group Corporate Secretariat. Ensure the trustee compliance certificates are completed annually.
  • Manage the JPY debt programme including annual and semi-annual filings and the programme update.
  • Manage the AT1 obligations including ECAT1 waiver and AGM notice.
  • Maintain knowledge of the Disclosure and Transparency Rules, the EU Prospectus Directive and other legislative and regulatory changes relating to capital issuance to ensure on-going compliance.
  • Maintain and manage relationships with external legal counsel.
  • Work closely with Treasury Capital Forecasting team to manage non-equity capital and MREL forecasts and funding plans, including downstreaming and hedging.
  • Manage the issuance inputs into the annual corporate planning process.
  • Operational Risk

  • Own the teams operational risk framework and reporting, including inputs to appropriate committees.
  • Discuss accounting treatment of capital issuance and other transactions to ensure correct reporting in the ledger and that correct treatment under IFRS is applied (eg debt / equity treatment).
  • Regulatory and 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.
  • Support the Capital Management team to achieve the outcomes set out in the Bank's Conduct Principles: Fair Outcomes for Clients; Effective Financial Markets; Financial Crime Compliance; The Right Environment.
  • Effectively and collaboratively identify, escalate, mitigate and resolve risk, conduct and compliance matters.
  • Deal with regulators in a responsive, open, timely and co-operative manner and disclose appropriately matters which they would reasonably expect notice of.
  • The Key Stakeholders:

    • Group Treasurer
    • Head of Capital Management
    • Head of Resolution Planning
    • CFO
    • Heads of Risk and FP&A

    Requirements:

    Fundamental Skills

    Strategic Capital Management Expertise: Seeking an individual with a solid background in Treasury and Finance, particularly in Capital Markets, with proven experience in managing capital issuance and funding. This includes a track record of innovative financial structuring, strategic planning, and a deep understanding of accounting and liquidity management.

    Regulatory Acumen and Senior Stakeholder Engagement: Candidates must have extensive knowledge of financial regulations and compliance standards, combined with experience in engaging and influencing senior stakeholders, including exposure to Managing Directors (MDs). The role demands an ability to navigate complex regulatory landscapes effectively and communicate high-level reports and board papers under tight deadlines.

    Risk Management and Numerical Proficiency: Applicants should be highly numerate, with advanced skills in modelling and data manipulation, including proficiency in handling data tables. Experience at the VP level for external candidates is preferred, with an emphasis on assessing and managing financial risks in alignment with the institution's risk appetite and regulatory requirements.

    Resilience under Pressure: The role demands the ability to face high-pressure situations, particularly those driven by capital market deadlines, and maintain composure and efficiency in these challenging environments.

    Optional Skills

    Front Office and Finance Experience: Experience on the Capital and Front Office side is desirable, including a background in Capital Market and Hedging. Exposure to recovery planning and involvement in planning roles under stress tests, particularly within the Bank of England's Recovery Regime, would be advantageous.

    Global Market Experience: Exposure to international financial markets and understanding of diverse geographical financial norms and practices.

    Project Management Experience: Proven ability to lead and manage large-scale financial projects, demonstrating meticulous organizational and coordination skills.

    Professional Qualifications: An Accounting Treasury qualification, such as ALMA or ACT, is required, demonstrating a strong foundation in treasury and financial principles.

    More Than Welcomed Skills:


  • Coding and Automation Expertise: Experience in coding, particularly related to automation and financial modeling, is highly valued. This skill set enables innovative approaches to data analysis and process efficiency.
  • Technological Savvy: Familiarity with emerging financial technologies and tools, demonstrating a forward-thinking approach to capital management
  • Innovative Mindset: A creative thinker who brings novel approaches to capital management and problem-solving.

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