Description
Project Background:
The Standard Chartered response to the Fundamental Review of the Trading Book (FRTB) commenced in 2016 and is the joint responsibility of the Front Office and Traded Risk Management to implement.
The FRTB project is a component of the SABRE Programme - the SCB platform for Financial Markets pricing and risk computation - and directly involves a number of key functions: Front Office and Traded Risk Management (as sponsors); Market Risk Analytics (model definition); Modelling and Analytics Group (model implementation); Financial Markets ITO (SABRE system integration); Group Model Validation; and Group Regulatory Affairs.
FRTB rules require substantial changes to modelling, infrastructure and Financial Markets, Risk and Capital operating models.
The project is organised into three streams:
- FRTB Model Development - end-to-end definition, implementation, integration and validation of the technology solution.
- Capital Impact and Regulatory Engagement - the provision of (mandated) external and internal quantitative impact studies; regulatory interpretation and advocacy, regulatory and industry engagement and local regulatory adoption.
- Target Operating Model - definition, planning and implementation of the parallel run and live FRTB operating models.
Implementation of revised CVA rules is also managed within the FRTB Project in close liaison with the Basel IV Programme.
The Role
The successful candidate will play a pivotal role in the implementation of FRTB, taking primary responsibility for the end-to-end management of the FRTB model development process. The role will build the scale needed to deliver the Standardised Approach and run up the Internal Model Approach initiative.
The candidate will need to bring leadership, organisation and assured technical delivery to the role. The candidate will be expected to demonstrate ownership, responsibility and accountability for project delivery. The successful candidate will have an agile background and be comfortable dealing with the resistance that comes with change.
The candidate will establish objective working relationships with senior business and technology stakeholders in order to efficiently manage the FRTB model pipeline. The candidate is expected to thrive in a dynamic, globally dispersed team of quantitative and business analysts, technologists, project managers and business stakeholders.
Key Experience:
- Delivery of complex technology components of large change programmes within financial services
- Financial Markets pricing and risk model implementation
- Full life cycle software design and implementation
- Investment banking technology
- Trading and Risk Management
Skills & Traits:
- Risk and regulatory project-savvy
- Integrity and initiative
- Analytical and problem-solving
- Strong communicator - written and from-the-platform
- Organised and agile in responding to changing priorities
- Cultural sensitivity and diversity aware
- Continuous process improvement and sharing best practice
Knowledge:
- Computer science concepts - algorithms, data structures, complexity, concurrency/parallelism
- Market risk sensitivities and capital
- UK Regulatory framework
- Controls & processes