PERM - Global Markets - Fixed Income - Business Control Officer (BCO) - Director
London, LND, GB, EC2M 2AT
SMBC: A trusted partner for the long term
Here at SMBC Group, we want to help you find the next step in your career so read on to discover if this opportunity is the one for you. We like to recognise potential in our people, so we welcome your application even when your experience doesn’t perfectly align with the job description. Whilst we’ll always strive to be better, we’re proud of our inclusive culture, and encourage our applicants and colleagues to be their authentic, unique selves.
Global Markets Dept Fixed Income BCO
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
- Enhance the 1st Line of Defence (1LOD) by building the necessary procedure and providing guidance on risk management and control design, ensuring effective assessment of risk across the transaction lifecycle within the Fixed Income Group, Global Markets Department.
- Partner with Trading and Sales functions, business management teams and support functions such as Technology, Operations, Finance, Compliance and Risk to ensure front-to-back oversight and a robust risk and control environment in Fixed Income.
- Provide management with reasonable control assurance through reporting and governance.
Business Area
The Sales & Trading vertical has been newly established as key function to enhance control and governance in the front office. BCO is needed at each business area as the 1LOD to coordinate the cross-business management.
This role will work closely with the Head of Department, the Head of S&T Business Control and the Chief Control Officer to support the overall risk and control objectives of the Department, S&T 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.
Position Description
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Support the Senior Management in the control and governance of FI in terms of a focus on incident root cause analysis and identification of areas for control enhancement. Assess existing processes, controls, and oversight framework to identify and remediate risk and control issues by providing expert guidance.
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Implement an effective control framework, proactively assessing threats and vulnerabilities to prevent future incidents by a gap analysis and read-across between Fixed Income and other departments.Leading initiatives to assess and enhance the risk culture within Fixed Income.
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Develop and produce management reports/materials on non-financial risks and controls e.g. results of control monitoring, RCSAs, incidents, risk profiles.
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Work in partnership with the business and other control groups, including 2nd and 3rd LOD, to provide guidance in the identification, assessment, management, and resolution of operational and regulatory risks.
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Lead self-inspection by aligning with the business to develop an effective risk management framework and related risk assessments. Also lead or arrange the regular training of staff
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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.
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!!
We recognise our role as a bank to support social change and welcome all applications, including those from groups often under-represented in financial services. We value the uniqueness of professional and personal, backgrounds and perspectives as they play a vital role in continuing the sustainable growth of our organisation. We’ll ensure reasonable adjustments to our recruitment process are offered due to a disability or long-term condition whenever requested.