PERM - Global Markets - Derivatives - Business Control Officer (BCO) - Vice President

Who we are

United by a sense of purpose towards our customers – to be a trusted partner for the long-term – and our universal banking platform in EMEA, SMBC Group has an international growth agenda and award-winning products, meaning we provide exciting opportunities to work on a diverse range of projects and initiatives. We deliver a full suite of corporate finance products and solutions to our customers as well as investment banking and advisory services, and a range of innovative solutions in global capital markets. Read on to find out how you could enhance your skills and gain valuable experience, by joining us to support our clients transition to a sustainable future.

Role Summary

Is the next step in your career at SMBC Group EMEA? We’re looking for a Business Control Officer (BCO), Vice President for our Derivatives Dept to join our team. 

The purpose of the Derivatives Business Control Officer is to ensure that within the Department:
•    All risks are identified, assessed and managed in line with risk appetite.
•    The control environment is robust, comprehensive, and effective.
•    Staff operate in accordance with risk policy, comply with relevant regulation and behave in line with SMBC’s values. 

As a key member of the Derivatives Risk Solutions team, this role will provide support, advice and challenge to stakeholders in the Department to enable them to enhance the management of risk, and the design and execution of controls, within their domains.

This role will work closely with the Head of Desk, Head of S&T Business Control and the Chief Control Officer to support the overall risk and control objectives of the Department, the Vertical and the EMEA Control Office. The role will also support the 2nd Line of Defence (2LoD) in the implementation of risk policy and risk frameworks and assist them in executing their responsibilities to provide oversight of the 1LoD. Similarly, this role will work with Internal Audit (3rd Line of Defence) to support their work as needed.

Business Area

Global Markets Dept (S&T Vertical), Derivatives Risk Solutions

Position Description

This role is responsible for:
• Overseeing and supporting risk owners, control owners and other relevant senior management within the Department to ensure that (i) all risks are identified, assessed and managed, and (ii) the control environment is robust, comprehensive, and effective. 
• Ensuring robust and comprehensive governance of risk and controls within the Derivatives Department. This includes supporting the 1LoD risk governance framework, providing insightful, timely and accurate data and analysis and contributing to governance meetings.
• Providing independent and insightful analysis of the risk and control environment within the Derivatives Department. For example, analyse key risk indicators, key control indicators, risk ratings, control ratings, issues, events, audit findings etc. to identify trends and thematic weaknesses (e.g., unmitigated risks or ineffective controls) that require addressing. Provide guidance on how best to address these concerns.
• Ensure rigorous investigation of Operational Events to ensure that root cause is identified and solutions to prevent reoccurrence are identified and implemented (where appropriate). Similarly, support the “read across” of issues and Operational Events so that learnings from a weakness identified in one area are applied to all areas.
• Participate in (and lead where appropriate) deep dive “Risk Reviews” to assess how robustly and comprehensively risks are mitigated and/or investigate potential weaknesses in the control framework. 
• Propose solutions to and participate in (and drive where appropriate) remediation of weaknesses in the control environment (for example, issues identified by Risk Reviews or Audit findings)
• Support (and lead where appropriate) initiatives to assess and enhance the risk culture within the 1LoD.
• Support 2LoD with the implementation of risk policy and risk frameworks and assist them in executing their responsibilities to provide oversight of the 1LoD.
• Support the business unit to operate in compliance with applicable laws, rules, and regulations, providing oversight of processes and controls designed to ensure compliance with these requirements.
• Lead or arrange regular training of staff to ensure awareness of and adherence to policies, standards, and procedures, disseminating best-practice guidance.

General Requirements 
• Risk Management: Good understanding of risk management frameworks and control environments as applied to Derivatives Risk Solutions Department and the wider vertical.
• Business Knowledge: Good knowledge of Sales & Trading products and services - and the end-to-end processes and infrastructure required to deliver these products and services to customers. Experience of identifying and addressing deficiencies in risk management and/or control operation across the full product lifecycle. 
• Market Best Practice: Good understanding and awareness of market-standard approaches for risk assessment, risk mitigation and control design and execution. Familiarity with relevant regulation and regulatory expectation across EMEA. 
• Stakeholder Management: Proven ability to build positive working relationships with senior stakeholders (e.g. Department Head), able to become a “trusted advisor” whilst maintaining the ability to provide robust challenge.
• Communication: Good written and verbal communication skills. Able to communicate effectively at all levels of the organisation. Able to convey complex topics simply and to articulate issues in a way that eases decision making and drives action.
• Analytical and thoughtful decision-maker: Demonstrates a deep, careful thinking process, ensuring thorough analysis before making decisions. 
• Root cause analysis: focuses on identifying and addressing the root causes of issues rather than just fixing immediate problems.

Competencies

What we offer

For all the expertise and experience you bring to help us make a difference, it’s only sustainable if we support you to build your career and be your best self so we offer competitive company benefits, centred around promoting positive well-bring and work-life balance. We also believe in fostering a diverse and inclusive work environment, where all team members perspectives and contributions are valued. Initiatives in place which promote a diverse and inclusive culture and healthy work life balance include hybrid working, Sport & Social Clubs and Diversity and Inclusion networks.

As an employee of SMBC you have access to a host of both useful and exciting benefit offerings. See below some of the benefits on offer to you:

• Hybrid and flexible working 
• Competitive paid leave days
• Benefits to support your physical wellbeing, including private medical insurance and life and invalidity insurance 
• Various policies to support your mental wellbeing, including a robust behavioural health network with counselling and coaching services  
• Access a wide range of learning and development opportunities and career progression opportunities 
• Ambitious remuneration package

So, if you like a challenge and want to continuously grow and develop in a role where you will be supported along the way by a dynamic and diverse team, apply today!!