People join for the impact they can have on us. They stay for the impact we have on them. A flatter structure offers visibility and exposure beyond that of our competitors, so you know our names, and we know yours.
It's personable, human, and inspires success through passion. By encouraging open mindedness and a willingness to share ideas, we have adapted to market changes and thrived through innovation.
Bringing words like hard work and dedication together with community and respect has enabled us to work collaboratively and build our future together.
We call this Team Spirit and it's what makes us different. It's what makes you different
Description of the Business Line or Department
The last credit crisis and resulting failures of high profile firms requires financial sector to have a strong focus on the counterparty credit risk (CCR), and more specifically on Credit Value Adjustment (CVA).
The new Basel III regulation pushed for an active management of the CVA and now major banks as SG are looking for a more accurate and more frequent CVA calculation.
Credit Value Adjustment (CVA) refers to the difference between the risk free value of a portfolio and the true value of that portfolio, accounting for the possible default of a counterparty.
CVA can also be considered as the market value of counter-party credit risk.
A centralized XVA desk (FO) has been running from 1st January 2014, mainly located in London, supported by its TSU team.
XVA desk’s objectives are to introduce a buffer of reserves to insure overall losses arising from counterparty risk and provide a fair value for derivatives transactions.
Desk is also in charge of compressions and IM optimization on Rates / Credit and FX processed by XVA TSU. These compressions / IM Optim runs enable to reduce the bank exposure to counterparty defaults and reduce its regulatory capital requirement.
Thus, SG can expand its business while keeping regulatory capital under control.
Summary of the key purposes of the role
The primary function of the TSU role is to minimise operational risk by supporting the front and back office with their requests and monitoring trading activity.
The role and expectations constantly evolve and as such processes need to be regularly reviewed, procedures kept up to date and training maintained to ensure full cover within the team.
Summary of responsibilities
Activity Task Management
Holds a high level of expertise on all major assets performing following tasks on a daily basis
General / CI
o Cross training and assistance for designated back up.
o Regular process reviews and new procedures set-up when appropriate
Compression / IM Optimization management (IRD / Credit / FX / Eqty) :
o Daily Controls and reconciliations.
o Ad-hoc tasks generated by the Trading Desk
o Supervision and daily processing on different assets, heavy-duty database management (negotiations processing, transfers and deals re-
allocation), controlling P&L impacts and ensuring a risk-free operational processing of trading teams deals (WW coverage).
o Monitoring static data issues
o STP following / system workflow consistency & improvements
Control / monitoring (IRD / Credit / FX / Eqty) :
o Query management Counterpart Mismatch. Value Date Breaks, Missing Trades,
o Amendment and Cancellation Monitoring Daily Weekly Analysis, Technical Modifications to Check.
o Booking of Mass Events (Mass Bookings, Mass Novations, Mass Negotiations )
o Troubleshooting system and P / L issues
Business partner Interaction Management
Maintain strong relationships with all departments across SGCIB globally.
o IT Follow-up and tracking, daily issue resolution, New release, FO assistance
o OPER Globally TSU / BO / TRS globally to maintain high level of service and business interaction.
o COO / Business Daily interaction
Quality and Control
Ability to have a strong vision of Operations and Business evolvement and have relevant tools to adapt to ever changing markets.
o Dashboard activity - Contribution
o KPI Contribution and monitoring
o Amend and Cancel / late booking Detailed analysis and action plan follow-up
o Procedure Strict adherence and control
Level of Autonomy and Authority
o Understanding of wide range of financial products.
o High level of communication and close working relationship with team members.
o Middle Office experience would be a plus.
o Project management experience would be a plus
o Close working relationships with Front Office teams is essential.
o Willingness to train on new products / activities / tools.
o Expected to work at all times with the highest level of accuracy and rigour to minimise operational loss.
o Flexibility and desire to broaden skill set.
o Ability to train and work under pressure on several IT systems throughout the day.
Operational and Regulatory knowledge
VBA coding would be a plus.
Degree level or equivalent qualification required with strong Financial (IRD / Credit / FX / Eqty) product knowledge
French good level of understanding would be a plus