Physical Commodity Transaction Management Inspector - US

  • Negotiable
  • Newark, NJ, USA Newark NJ US
  • Permanent, Full time
  • Standard Chartered Bank
  • 22 May 18 2018-05-22

Job Description Manager of physical commodity inspections in SCB's Commodity Credit Risk function, covering management of physical commodity collateral and the collateral management companies responsible for managing physical commodities owned by or financed by the Bank.

Key Roles and Responsibilities

Physical Collateral Inspection and Collateral Manager reviews

  • Support good custodianship of Bank's commodity collateral / ownership through understanding and undertaking tasks in the PCMA procedure
  • Empanel new CMCs and revisit grandfathered CMCs and maintain good working relationships with them
  • Liaise with collateral management companies (CMC) and inspectors to ensure scope of services are understood and complied with
  • Schedule and undertake inspections of storage locations based on an exposure and risk profile in USA and other ad hoc locations where commodities are held.
  • Ensure any storage location issues identified are closed out.
  • Ensure that an appropriate scope of services is completed as per PCMA procedures
  • Undertake or instruct external parties to complete quality testing as required
  • Ensure quality of report and review of associate documents is of a high standard, including the Scorecard
  • Understand any third party relationships and report. Set appropriate Storage Location limits
  • Develop and close out remedial plans for issues arising from inspections.
  • Provide regular reporting to Stakeholders of inspection schedule and outcomes.
  • Assist Regional CTMU heads on CMC logistical issues.

Transaction Monitoring

  • Support development and design of PCMA procedures
  • Ensure the PCMA framework of controls for CMCs, storage locations and reconciliations are implemented in region.
  • Ensure appropriate underlying quality transactional documents are reviewed as appropriate and for quality standard setting
  • Raise physical commodity issues in a timely fashion to the relevant stakeholders
  • Work with CTMU Country Managers and team at a transaction level
  • Proactively identify and risks to commodities taken under pledge or ownership

Process Governance

  • Ensure that governance standards applicable to PCMA are implemented in region through deploying updated process and operational guidelines, DOIs etc.
  • Understand and contribute to, CTMU policies and their development

Support Group's Risk Management and Business Aspirations

  • Develop an active dialogue with Bank Stakeholders around market developments and any emerging issues within the portfolio
  • Client contact to ensure better understanding of clients' business, collateral management and commodity markets
  • Contribute to deal structuring via strong understanding of physical commodities and logistics" and

Technical Knowledge

  • Maintain knowledge of commodities, especially Exchange requirements and quality
  • Ensure the correct legal documents and scope of services are agreed for transactions
  • Maintain Bank compliance knowledge, training and other code of conduct requirements

KEY RELATIONSHIPS

Regional Heads CTMU Coordination of inspections, management of issues

CIC - Two way feedback on warehouse operations

TB/FM Commodities Product Heads - Two way feedback on warehouse operations

CMCs - Scope of services/remediation of inspection issues

Independent Inspection Companies - Coordinate inspections

CCO and SCO Commodity Risk - Provide feedback in conjunction with CIC on outcomes of inspections.