Head Transaction Banking - Standard Chartered Bank

The Country Transaction Banking Head will manage and deliver the Transaction Banking end-to-end product objectives within the country in alignment with global objectives for the product line, including financial and non-financial performance, enhancement of capabilities, product and client access future strategies, and oversight of risk and governance in alignment with the Product Heads for Cash and Trade.

Double hatting as either a Country Cash or Trade Product Head the candidate will have an instrumental role in ensuring that Transaction Banking activities are grounded in the Bank’s strategic priorities through delivering customer value, driving productivity, optimizing cost efficiencies, facilitating #simplefasterbetter, and living the valued behaviours. This role requires individuals who can provide strategic leadership, influence and align ambitious agendas and priorities whilst driving effective execution through skilled, engaged teams.

Product Management is accountable for development of product strategy, its execution and commercialization, aligned to clear, simple and robust product universe governance and product risk lifecycle management.

Responsibilities

Strategy

• Leads the consulting and discovery analysis of client needs, both met and unmet, integrating these insights with current and near future market, industry and network intelligence.
• Within the market, drives the Global Product Vision and Strategy and articulates the business value of the product suite for our clients and for our stakeholders. The Product Vision and Strategy will:
  • Provide an end to end product lifecycle architecture that maps out the technology and data ecosystem that will be designed along with the process and governance required;
  • Take into account capabilities and resourcing of countries and regional stakeholders;
  • Set agreed client servicing and product delivery standards with our global technology and service teams;
  • Set out the managed process for decommissioning of products;
  • Include a robustly defined operating plan outlining product release timelines and implementation with coordination of all the activities required to bring the product to the client/market. This will involve collaboration between various teams – namely, risk, legal, compliance, technology as well as managing the dependencies across the various phases of the product development.

Business

• Financial Management – Product P/L Management
• Delivers new revenue streams with meaningful returns over the long term, through product enhancement and innovation, whilst uplifting current revenue streams through process efficiencies and digitization.
• Manages both cost and investment of product build, from reduction of unit cost of product to optimization of launch/go-to-market cost for products.
• Leads process design work with Operations, Technology and other function partners with the aim of translating process optimization to bottom line cost control with a high degree of reliability.
• Deliver budget, through active management of:
• Revenue (existing and new revenue streams
• Penetration of the product: 1) No. of markets using the product; 2) No. of clients using the products
• Drive liabilities / OPAC gathering with view to increase contribution
• Cost (operating cost for product)
• Review and manage cost and efficiency of both allocated and direct cost
• Returns (i.e. product profitability)

Market Management & Commercialization

• Identifies new business opportunities and revenue pools whilst articulating how the product capabilities can solve for client needs and requirements
• Develops a product commercialization plan which integrates product positioning with client value propositions all adapted to the industries and markets of our clients.
• Works closely with Universal Market/Global Product Heads to develop the Product Landscape: based on data and business intelligence from various sources including sales, clients and competitive market analysis
• Works closely with Universal Market/Global Product Heads to ensure product readiness and fit for purpose at the country/market level prior to product launch
• Actively mitigates identified business pain points, by evaluating pragmatic solutions that have wide applicability and have potential for replication for the countries/markets
• Conduct regular reviews of the product offerings to ensure a “fit for purpose” operating plan and product agenda.
• Supports launch of product enhancements, new products, channels or new platforms.
• Held directly accountable for commercialization of product capabilities including developing product launch, commercialization plans, targets and ensuring infrastructure requirements are resourced.
• Leads product brand and capabilities training workshops with client facing teams (TB Sales, GB RMs, CB RMs) to articulate the product positioning and client value proposition.
• Customize relevant commercialization tool kits, product packs and related collateral to support and provide training for TB Sales, CCIB and GTO staff.
• Provides business solutions for complex deals or RFPs to drive sales and solutions.
• Meets and engages clients to understand their needs or to commercialize new capabilities.
• Ensures replication of deals / unique solutions across countries and across industries.

Product Digital Journey & Efficiency

• Delivers the product digitization agenda (product, process and platforms) with Transaction Banking Digital and Data team in conjunction with global stakeholders.
• Builds product value propositions with digital partners (3rd party platforms, consortiums and alliances).
• Collaborates with the Data and Digital team, managing platform relationships with a focus on shaping future product roadmaps and commercial opportunities.
• Owns commercialization of digital solutions and capabilities in country and across key markets.
• Works closely with Digital and Data team to design and deliver training materials on our platforms as well as other digital capabilities for clients

Processes

• Working with and through Implementation Head to ensure successful and smooth implementation of product solutions, conducting post implementation review analysis through client feedback and incorporates good practices in subsequent implementations.
• Defines client service requirements, including the client proposition for new products and their capabilities for Operations and the PSS team.
• Tracks clients’ product utilization with a view to achieve utilization targets
• Drives and sustains a productive working rhythm to Client Management team process reviews on client issue logs and wider feedback themes, such that specific product adjustments and enhancements can be prioritised in the rolling schedule of product design and implementation.
• Providing input and working with Implementation Manager to build and re-engineer processes with focus on efficiency, simplification and clarity in order to improve client experience and mitigation of operational risk.

People & Talent

• Responsible for leading, directing and influencing Product teams in Country, to deliver the priorities of Transaction Banking Product Management including:
• Creating momentum and conviction towards the Product Vision and Strategy;
• Sense making the business context and drivers, while adopting a strategic mindset to advise senior business leaders across a broad spectrum of frameworks and solutions (Client Leadership)
• Providing guidance, coaching, mentoring and development to product and sales teams whilst role modelling nimble learning (People Leadership)
• Providing advisory, constructive challenge and thought leadership perspectives on a range of opportunities and challenges in country and across the markets (Thought Leadership)
• Responsible for ensuring a sustainable organizational focus on deepening product management excellence across the organization underpinned by investment in promoting and extending the brand of the Transaction Banking at all levels of the enterprise.
• Responsible for resource allocation and optimization within Country – ensuring that there is adequate support to local market requirements, deploying resources accordingly to market and business priorities
• Responsible for understanding and anticipating various future industry trends in country and across the markets, reviewing team capabilities and infrastructure required to consistently execute on strategic plans set and adapted.
• Responsible for relentlessly focusing on the medium to long term commercial success of the organization through the implementation and adaptation of product solutions that correlate to improving revenue momentum and operating margins, increase client satisfaction and repeat business custom and overall productivity while reducing material risk exposures and inculcating a culture of conduct.

Risk Management

• Builds deep and comprehensive knowledge of local regulations and initiatives of local industry bodies to stay ahead of the regulatory change agenda and how it affects the product lifecycle.
• Takes the initiative regarding regulatory, reputational and ethical matters by providing proactive advice to sales and implementation teams.
• Ensures adherence with the highest standards of ethics, and compliance with relevant policies, processes and regulations.
• Ensure appropriate TB inputs are incorporated in BCA / Term sheet / Pre-Screening review / Credit.
• Working with Country Heads and the Universal Market Head to effectively identify, escalate, mitigate and resolve risk and compliance matters in a timely manner.

Governance

• Accountable for all product risks within the product management discipline in Country.
• Ensure timely renewal of country addendums (CAs) to PPGs and proactively work with stakeholders to identify and quantify new and existing risks. Actively participate in NPC roll out and execution in the region.
• Identifies and mitigates operational, credit, regulatory, legal, fraud and risks in their product suite.
• Evaluates current processes via a business Conduct lens.
• Defines pricing guidelines and processes for the product.
• Conducts regular engagement with risk owners, PGC members on product related risks, PPG changes, deal structures etc.
• Working with respective Cluster Head and the Universal Market Head to review and provide support to any regional memos and proposals drafted by local counterparts, and tables them to the PGC for review/approval.
• Understands compliance, AML and FCC risk and applies appropriate risk mitigation processes.
• Conducts regulatory reviews on their products in partnership with Legal and Compliance.
• Ensure country compliance on Group standard for Audit, Control and financial reporting including reporting of risks to BORF/CORGs
• Work with operations to improve overall service standards and to ensure that quality of service to customers remains superior to competition
• The role holder will be a member of the Country Management Team.

Regulatory & 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.
•  Lead the Country Product team to achieve the outcomes set out in the Bank’s Conduct Principles
• Effectively and collaboratively identify, escalate, mitigate and resolve risk, conduct and compliance matters.

Key stakeholders

Internal

• Regional & Country Head of CCIB
• Country CEO and other members of the CMT
• Local Managers, Operations, CSG, AML, Credit, Compliance
• Local Business Heads (Financial Markets, ALM, etc)
• Regional and Local Heads of Product, Channels, Marketing, Corporate Affairs, OL, HR, Finance

External

• Customers
• Auditors, Regulators

Qualification

• Bachelor’s degree, preferrable post graduate
• A minimum of 12years of relevant banking experience

Role Specific Technical Competencies

• Manage Conduct
• Manage Risk
• Manage People
• Business Acumen
• Industry Knowledge
• Product Innovation and digital transformation
• Product Commercialization
• Client Experience, Behaviour and Preferences
• Data Analytics and Monetization
• Technology and Emerging Technology
• Alliance and Partnership Management