VP, Corporate Risk Manager. Trade & Commodity Finance
- London, England, United Kingdom
- Permanent, Full time
- Société Générale - UK
- 20 Aug 17
VP, Corporate Risk Manager. Trade & Commodity Finance
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
• Trade & Commodity Finance Middle Office
• OPER/FIN/NAT/TCF monitors the risks borne by the SG on the facilities & transactions originated by the Front Office, and will perform client & transaction management duties per Front-Office delegation. This relates to Bi-Lateral, transactional facilities as well as syndicated RCF and Borrowing Base financing acting in both Agency and Participant functions.
Summary of the key purposes of the role
• To monitor, control and minimise the Bank's exposure under bilateral and syndicated facilites granted to Commodity Traders across the Metals, Energy and Soft sectors
• Process client requests against agreed facility limits and bank procedures ensuring these are completed within to the highest service levels
• Check collateral positions and update of the Bank's risk & exposure monitoring system
• Senior member of the team to provide guidance and experience to other team members
Summary of responsibilities
1. Analysis of credit applications and update of the Bank's risk & exposure monitoring system (Tomcat):
• Assess facility structure, banking products, duration, specific provisions.
• Check presence of a proposed obligor rating and facility rating in SG's rating system (“Starweb”), for each line or spot approval.
• Check completion of KYC process.
• Update internal systems and inform the Front Office “FO” and Back Office “BO” concerned.
• Organize FO / MO / BO closing meetings, in order to validate the operational feasibility of the facility both from MO & BO prospective and write related minutes.
• If required (e.g. per instructions from Risk and/or the Relationship Unit), freeze lines in Tomcat and inform FO & BO
2. Collateral valuation and static data up-date:
• Make sure that internal collateral monitoring system provides the required data model and input screens, so that collateral once captured by BO:
• is properly linked to client commitments,
• can be assessed with respect to Basle II eligibility,
• can be re-valued (in particular, Middle-Office determines applicable price (external source).
• (To this effect, MO ensures that the collateral management data model effectively covers each collateral type, hedging arrangement and valuation rule. In participating to the closing process of the facilities, MO identifies and requests adaptations to the system.
• The data model covers collateral description, third party description (incl. guarantors), collateral audit agencies, warehouse companies, warehouse location countries, collateral agents, off-takers, identification of property documents, valuation rules).
• Perform a daily control over valuation processes and inform FO & BO of any issue.
3. Collateral execution:
• Ensure that all documents representing a right of the Bank over any collateral is associated with a procedure that allows its rapid execution in case of default.
• Make sure that conservation of collateral documents by the Bank or agreed third parties is compatible with such rapid execution.
• In case of default, coordinate the execution process with all the parties involved (e.g. FO, internal & external lawyers, BO)
• Update the value of collateral based upon the most recent information coming from recovery process and coordinate internal provisioning process.
4. Portfolio monitoring:
• Monitor risk indicators of customer segment portfolio as a whole, using automated reports and warnings implemented in Tomcat.
• Ensure, as a second level control, that clients or transactions facing a deterioration or a covenant breach, are properly monitored by FO, BO and Risk, in particular MO coordinates any “cure period” process when Net Coverage Ratio (“NCR”) is below agreed levels.
• Propose the addition of a client to the (credit) watch-list, propose reclassification of a client in default and monitor the related quarterly processes (watch-list, provisions through the banks dedicated systems).
• Perform analysis on commitments & collateral breakdown by counterpart, country, obligor rating, commodity, or warehouse to the attention of Business Line management.
• Perform cross-subject reporting and support FO in the performance of its Portfolio Reviews.
• Monitor feeding of Basle II (RWA) data to the Bank's risk systems.
5. Client and Transaction Management (subject to FO delegation):
• When called by a client on a new transaction, check the acceptability of the transaction in respect of credit line & rules using Tomcat system,
- if the transaction falls within the characteristics of the line, it is processed and FO is informed,
- if there are discrepancies, MO evaluates if the discrepancy creates a material unapproved credit risk:
- if yes, then MO goes to FO who will seek appropriate approval (use another applicable line or request specific
approval to Risk Dept.
- if no, then transaction is processed as above.
• To help in the evaluation of material additional credit risk, the following procedure will be applied :
• Whenever a new case arises it is presented to FO who will evaluate the existence or not of such additional material credit risk.
• Then the case is recorded in a list and used for reference the next time. Cases are defined client by client.
• The list is communicated to and endorsed by the Business Line management
6. RCF & Borrowing Base Facilities:
• Review loan documentation and related legal contracts.
• Checking conformed copy / original documentation on recently closed deals or amended deals, for recording, filing, safekeeping.
• Preparing waiver requests for submission to Front Office and Credit.
• In case of Agency role perform necessary legal documentation review and management at deal inception and monitor and perform necessary actions during transaction lifetime.
• In case of Borrowing Base transactions create monitoring collateral report in Tomcat.
Level of Autonomy and Authority
MO independently assesses the credit risk borne on clients and the related value of collateral and works in close cooperation with FO, Risk Dept and BO and keeps all parties involved informed at all times.
Each credit decision is taken by Business Line subject to the control of Risk Dept. MO has no credit delegation.
MO may perform client & transaction management duties subject to FO delegation, (as detailed in “Main responsibilities”).
This role reports to Head of TCF Middle Office London however the associate will be expected to be a s enior member of the team to provide guidance and experience to other team members as well as work under his/her own initiative with limited supervision.
• Operational Skills
• Regulatory Skills
• Communication Skills
• Flexibility - Adaptability
• Ability to make Decisions
• Ability to Work Under Pressure
• Analytical Skills
The successful candidate will be a Team Player but able to work methodically under their own initiate with limited supervision and often under considerable pressure.
They will have excellent communication skills, being required to communicate extensively with both internal and external parties at all levels.
They must be adaptable to changing circumstances and able to prioritize accordingly.
• Previous experience in a Trade & Commodity Finance Middle Office/Operations (in a Bank or similar) is preferred.
• Candidate would be expected to have knowledge of Storage Financing, Pre-Financing, Hedging, Documentary Credits and Collections, an understanding of “Documents of Title” and similar instruments and the inherent strengths and weaknesses thereof. Experience of Agent role in syndicated transactions would be an advantage but is not deemed essential.
• Technical skills Familiarity with PC based tools and general office software is essential, including Excel, Word, Lotus Notes etc
• Minimum to “A” Level or equivalent standard
• Languages English is essential for this role. French would be considered an advantage but is not deemed essential
If you feel you have the required experience and qualifications, then please apply to the SG Resourcing Team, and we will manage your application. At Societe Generale, we believe our people are our strength and are core to the success of our business. As such, we search for, recruit and appoint the best available person on the basis of aptitude and ability, regardless of sex, marital or civil partnership status, race, colour, nationality, ethnic or national origins, pregnancy, disability, age, sexual orientation, religion, belief or gender reassignment.