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Counterparty Credit Risk Officer

4 months ago


London, UK, United Kingdom Societe Generale Corporate and Investment Banking - SGCIB Full time

OUR CULTURE


At Société Générale, we live by our 4 core values of commitment, responsibility, team spirit and innovation. We are engaged and demonstrate consideration for others. We act ethically and with courage. We focus our talent and energy on collective success. We experiment and propose new ideas, to maximize our ability to serve client needs and anticipate market changes. Société Générale is committed to strengthening bonds with colleagues, communities, and the world in which we live, because relationships are at the heart of how we operate.


DIVERSITY, EQUITY & INCLUSION


Our Diversity, Equity & Inclusion Mission: recruit, develop, advance, and retain a diverse workforce that is united in our efforts to enhance our competitive position and deliver innovative solutions to our clients.

Our Diversity, Equity & Inclusion Vision:

 Engaged workforce that is demographically diverse in a way that reflects the communities in which we operate.

 Inclusive culture and workplace that recognizes employees' unique needs and utilizes their diverse talents.

 Engage our community and marketplace and position the organization to meet the needs of all its clients.


RISK DIVISION (RISQ)


Risk Management in the UK is organised along a three lines of defence model with well-defined and segregated responsibilities aligned with the Group framework as well as applicable local regulatory requirements and guidance. RISQ is part of the 2nd line of defence and aims to independently analyse, challenge, opine on and monitor the risk-taking activities of the Business Lines thereby enabling effective execution of the Bank’s strategy in line with its risk appetite.


Within RISQ Department, RISQ/RMA/CRM team plays a central role for LoD2 Counterparty Credit Risk (CCR) management transversally across all types of counterparties, all metrics and activities, leveraging functionally on the whole community within RISQ/RMA department working on counterparty credit risk management and in conjunction with other departments (in particular counterparty Risk Cells and PCRUs, including RISQ CIB, RISQ RMA HPC, MARK, GLBA, GBSU).



This is a new role is for an Associate / VP within the CRM London team, reporting locally to the Head of CCR London. The incumbent will work within the London CRM team to manage UK (SGLB and SGIL) counterparty credit risks and work to develop the Risk GBR CCR framework, including contribution to relevant local Risk GBR projects and reporting requirements as agreed/assigned.


The key team main missions are:

 to structure and implement the functional set up and governance required for an effective transversal CCR management in the UK (including SGIL and SGPM).

 to initiate or conduct pro-active coordination ad hoc CCR requests notably with RISQ/RMA teams and RISQ

 to sponsor or contribute to corresponding transformation projects and models evolution.

 to design and coordinate corresponding UK CCR policies and procedures as well as periodic reviews.

 to act as subject matter expert for CCR internal and external audit supervision on corresponding topics.

 to ensure close oversight of counterparty credit risk exposure within the UK.

 to oversee the development and regular reporting of credit risk dashboards to the SGLB Risk Management Committee and SGIL Risk and Control Committee.

 to contribute the ICAAP for the credit risk sections.

 to identify Emerging risks.

 to ensure efficient Default Management Process.

 to ensure that counterparty credit risk issues are well considered in the daily conduct of business and in the development of new products or activities.

 to engage with business lines to develop and maintain the credit risk components of the Risk Appetite Framework and Risk Appetite Statement of SGLB/SGIL.


The counterparty credit risk officer supports the RISQ/RMA/CRM UK team:

 Monitoring of the UK counterparty credit risk portfolio through regular and ad hoc reviews, production of management information for the various committees and reports in RISQ governance.

 Delivering the RISQ UK roadmap in collaboration with the wider RISQ department.

 Daily follow up of counterparty credit risk in collaboration with LOD1 and expert RISQ teams.

 Support local CROs with regards to the credit workflow process for deals booked and originated locally.

 Contributing to cross risk typology topics in collaboration with the rest of the UK RISQ team (Risk Management Framework Risk Appetite, Risk identification, Capital assessments, New Product Committees etc).

 Coordination with head office RISQ teams to ensure UK benefits from global CCR projects and contributes to SG CCR transformation projects.

 Ensuring alignment with regulatory CCR requirements and best practices (both local and global) including surveillance and review of updates of applicable regulatory changes/updates.

 Assist with the definition and implementation of KPIs &KRIs and associated monitoring and reporting for proper escalation and information to management.

 Participate in local model reviews with regards to CCR, including ensure applicability of Group models used locally.

 Interaction with Internal Audit/Inspection, contributing to relevant meetings, answering questions and information requests and contributing to the closure of outstanding findings/remediations.

 Interaction with regulators where required, including contributing to relevant meetings, answering questions and information requests (e.g. Dear CRO/CEO letters) and contributing to the closure of outstanding findings/remediations.

Competencies

TECHNICAL SKILLS

 Extensive understanding our Counterparty Credit Risk frameworks and their application within a Financial Institutions (including internal control framework and CCR approval processes).

 Advanced abilities in Excel, PowerPoint and Word. VBA, Power BI / Tableau, etc would be beneficial.

 Knowledge of Counterparty Credit Risk best practices.

 Knowledge of OTC and listed derivative products and associated risks.

 Good knowledge of key regulatory (PRA, FCA, ECB) CCR expectations and requirements would be beneficial.


SOFT SKILLS

 Independent: can challenge status quo or different opinions when needed.

 Fast learner: eager to grow, learn / build knowledge.

 Excellent verbal and written communication skills.

 Team Spirit: contribute to a positive and versatile team environment, build constructive relationships with people from diverse backgrounds.

 Strong collaboration skills: capacity to engage with people with different backgrounds (LOD1 and LOD2, in the UK and at outside of the UK). Flexible and adaptable.

 Strong analytical and problem-solving skills: attention to details and rigor; ability to absorb a lot of information over short periods of time; capacity to understand complex situations and provide a synthetic view. All while working within tight deadlines.


WORK EXPERIENCE

 Relevant experience in a counterparty credit risk or related function within the 1st or 2nd Line of Defence in industries such as Capital markets, Prime Brokerage or Banking.

 Proven change management abilities.

 Experience with regulators especially PRA would be beneficial in this role.