Director, Trustee Services

Role Responsibilities

Summary

The Financing & Securities Services (FSS) business has a unique footprint in Asia, Middle East, and Africa, and offers a growing range of products, including direct custody, international custody, funds services, trustee services, transfer agency, prime services, and agency securities lending, to a number of client sectors including banks, investors, intermediaries, sovereigns, fund managers insurance companies and corporates. 

The jobholder is responsible for Trustee Services in Hong Kong with oversight of business operations as well as responsible for (i) enabling a competitive trustee services suite that will retain the existing book of business, (ii) developing new trustee products and services to respond to market changes and generate new revenue streams and (iii) to ensure these is done within a controlled and compliant environment.

Dynamically manages the entire suite of trustee and fiduciary offering for Hong Kong, which support a number of funds and product types. Regularly reviews the product suite to ensure its competitiveness and viability.Services must be proposed for closure where they do not satisfy these requirements, Assist in leading the functions such as core Trustee Product Management, to drive client agenda and business goals, Conduct and provide insightful analysis of industry developments, market changes and competitor offerings to identify threats and opportunities, assess the impact on clients and offer appropriate and innovative product solutions, Works collaboratively with members of the FSS, Financial Markets (FM), Client Coverage (CC), Operations teams to ensure cross-product, cross-business opportunities are realised, Maintains close contacts with key clients to maintain strong familiarity with changing view and priorities within the industry, Assist in leading the FSS Innovation agenda for Trustee Services, ensuring FSS are outpacing industry peers in both thought and delivery leading to commercialisation.

Strategy

Executes the strategy for the FSS fiduciary product suite and work within the overall business strategy and corporate plan for the business. Functions as a key contributor to the trustee and fiduciary development of the strategy for the FSS business globally. Ensures the strategy for Strategic Client Initiatives, and other functions within the overall product management capabilities. Works across CCIB and the Bank to ensure strategies for trustee and fiduciary services are aligned.

Business

Represents the business to internal and external constituents as the senior business representatives on fiduciary matters Collaborates with FSS Ops to design and implement scalable, automated, and commercially viable operating model for the business, capable of adaptation to satisfy changing business and regulatory requirements. Maintains detailed financial analyses for fiduciary product suite to identify areas of financial strengths and areas of improvements, as well as for crafting strategical / tactical responses with the evolving financial trends. Co-ordinates global fiduciary product activity to minimise overlap and maximise sharing and re-use of solutions. Manages relationships with functions such as Risk, Compliance, Legal, Finance as they impact the evolution of the FSS product suite.

Processes

Drives consistent trustee’s standards of performance and output across all types of funds products Maintains senior-level contact with regulators and infrastructures within the region and communicates developments to the relevant stakeholders. Proactively solicits feedback from FSS Sales, Relationship Management, and Operations teams to assess performance and the relevance/ usefulness of output. Oversees trustee operation outsourcing, coordinate and execute all required due diligence on 3rd parties client, service providers, vendors and agents and ensure internal procurement protocols and procedures are observed and complied with Co-ordinates with legal, risk, operation and compliance teams to discharge fiduciary duties of the trustee and ensure relevant regulatory and fund requirements for trustee and the fund, Group policies and procedures are compiled with Collects and reviews monthly KPI/MIS reports and score cards, and prepares monthly internal management reports Co-ordinates meetings of board of directors and management committee and assists in escalation of significant matters

People & Talent

Works closely and collaboratively across the FSS team to develop competitive trustee services. Sets appropriate tone and expectations from the FSS team and works in collaboration with risk and control partners. Develop strong external relationships and referral networks within the industry including key influencers such as lawyers, consultants, etc. Ensures the provision of ongoing trustee training and development to key stakeholders; 

Risk Management

Works with local legal, risk and compliance functions to ensure all relevant bank policies and procedures are followed in support of the business agenda. Ensures legal, risk and compliance are involved and engaged in issues impacting the delivery of trustee product solutions to clients within country Takes responsibility for identifying, assessing, monitoring, controlling and mitigating risks to the Group. Also, maintains an awareness and understanding of the main risks facing the Group and the role the individual and the team play in managing them. Ensures all regulatory and compliance initiatives surrounding the trustee services are identified, socialised and closed out in a timely and efficient fashion. Maintains an understanding of risk management issues among the FSS products and teams, Oversees consistent treatment and management of product risks. Executes effective oversight and governance in line with local laws and the Group’s polices and risk frameworks.

Governance

Accountable for maintaining appropriate balance between standardised trustee product offering and granting exceptions to key clients on a commercial basis. Assesses the effectiveness of the Group’s arrangements to deliver effective governance, oversight and controls in the business and, if necessary, recommend changes in these areas. Escalate significant matters to the Board in a timely manner Maintains all appropriate products and governance documentation and approvals. Ensures compliance of the product suite with all regulatory and internal control requirements. Maintains awareness and understanding of the regulatory framework in which the Group operates, and the regulatory requirements and expectations relevant to the role. Delivers ‘effective governance’; capability to challenge fellow executives effectively; willingness to work with regulators in an open and cooperative manner. 

Regulatory & Business Conduct

Oversees proper control and authorisation of product inventories. 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. Assist in achieving the outcomes set out in the Bank’s Conduct Principles: Fair Outcomes for Clients, Financial Crime Prevention, The Right Environment, Effectively and collaboratively identifies, escalates, mitigates and resolves risk, conduct and compliance matters. Manages and fulfils all regulator prescribed responsibilities such as (but not limited to) PRA and FCA requirements on Certified Persons (where applicable).

Key stakeholders

Closely liaises with FM Operations to determine commercially and operationally robust exceptions to standard trustee product model. Promotes strong communication with clients under the overall auspices of FSS Sales / Relationship Management / Client Solutions / Technology and Operations. Collaborates closely with associated supporting functions and business lines globally – such as Risk, Compliance, Financial Markets, Client Coverage, Transaction Banking products, etc. Manages the process of gaining necessary product approvals from the above functions. Works with FSS Country and Product Heads to maintain close relationships with local market regulators and market infrastructure providers such as MPFA, SFC, etc. Interacts regularly with clients to maintain clear view of changes in trends and requirements.

Other Responsibilities

Embeds Here for good and Group’s brand and values in. Acts as a role model, behaving with integrity and demonstrating exemplary conduct. Performs other responsibilities assigned under Group, Country, Business or Functional policies and procedures.

Innovation

Leads the FSS Innovation agenda for Trustee Services, ensuring FSS are outpacing industry peers in both thought and delivery leading to commercialisation. Pivots into broader CCIB innovation agenda ensuring that FSS is aligned and providing input and idea generation into CCIB stakeholders.

Our Ideal Candidate

The jobholder will have been educated to degree level with extensive experience (minimum of 10 to 15 years) - in financial and securities services industry. Additionally:

Deep local market knowledge & client buying behaviours Market profile and credibility with clients Technical trustee or funds product knowledge including MPF, SFC funds, etc. Experience developing and executing segment strategies Strong interpersonal and communication skills (lead by example) – demonstrable experience of global coordination, running workshops & problem-solving Highly organised and an exceptional communicator, able to work effectively in a matrix organisation Mandarin and Cantonese a plus

Role Specific Technical Competencies

Planning: Tactical, Strategic Analytical Thinking Business Performance Management Industry Knowledge Marketing Strategy and Positioning Product Design and Development Securities Laws and Regulations (SLR) Compliance

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