- London, England, United Kingdom
- Permanent, Full time
- Credit Suisse -
- 18 Jul 18
Expert in RRP Operational Capabilities # 108949
The Recovery and Resolution Plan (RRP) details Credit Suisse's preparations to manage a severe financial crisis including documenting specific recovery options available to Credit Suisse as part of a Recovery Plan. Failure to recover from a severe stress could force Credit Suisse into resolution and therefore resolution Plan information is also required. The RRP is refreshed on an annual basis and requires significant cross-divisional input and co-ordination. The Recovery and Resolution Office (RRO) is a department within Treasury responsible for maintaining the RRP as well as interpreting and communicating resulting requirements and ensuring they are integrated in the bank's operational processes with all the required operational capabilities.
The EMEA RRO reports jointly to the Global RRO and the UK CFO. The role includes a broad range of activities in the field of Recovery and Resolution, with a focus on ensuring the development and maintenance of operational capabilities relevant to recovery and resolution scenarios, which includes areas such as operational continuity and payments, clearing and settlement activities. This will include contributions to the development of the firm's response to regulatory requirements around operational continuity in resolution (OCIR), the UK Solvent Wind Down (SWD), access to Financial Market Utilities (FMUs) and UK recovery planning as well as working on, when appropriate, their transition to business as usual.
Within all areas of resolution capability Credit Suisse is looking for solutions that are effective and efficient globally. There will be a focus in all activities on global co-operation to achieve this.
The role entails a thorough understanding of the regulatory landscape as well as the bank's UK IB businesses and other operations in EMEA. Specific additional role requirements:
- Help to develop and oversee the annual SWD update according to the regulations in place with respect to operational capabilities and costs, including:
- Take the lead with respect to operational cost impacts and dependencies in SWD;
- Help define and implement the SWD strategic approach to forecasting operational costs;
- Maintain close liaison with functional departments to ensure critical dependencies are correctly and appropriately captured and modelled;
- Ensure required quality of challenge to methodology and assumptions used in forecasting of operational costs in a wind down scenario;
- Maintaining good working relationships with all stakeholders involved with developing the forecast for operational and other costs, such as funding costs;
- Ensure linkage and consistency with global approach to operating costs impacting the UK entities in resolution working with Group COO department; and
- Work on integrating all RRP related activities into a BAU environment.
- Contribute to other RRP developments throughout EMEA and work closely with colleagues globally on RRP topics including:
- Becoming an SME contributor for OCIR across Credit Suisse;
- Being a local liaison for global projects on ensuring continuity of access to FMUs and payment, clearing and settlement services. This will include ensuring the adequacy of sensitivity and scenario testing in these areas and assisting in the development and maintenance of playbooks.
- Support efforts to embed above aspects of RRP in the firm and the integrate into business as usual.
Open to discussing flexible/agile working.
This advert expires 22nd of May, competitive salary offered.
SKILLS AND QUALIFICATIONS
- Strong academic background; minimum of a Bachelor's degree;
- 5 - 7 years minimum relevant experience in Financial Services;
- Knowledge of management and financial reporting;
- Self-starter with the ability to operate independently;
- Solid understanding of a major bank's functions, particularly the operational infrastructure, key operational dependencies and drivers of costs;
- Experience working within global teams;
- Evidence of strong stakeholder management skills on senior management level;
- Personal characteristics:
- Strong attention to detail;
- Ability to examine challenges from multiple perspective;
- Exceptional communication and presentation skills;
- Proven writing/editing skills;
- Excellent qualitative and quantitative analytical aptitude;
- Solution driven