Trade & Commodity Finance Middle Office

Job description

Environment

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.

Mission

DESCRIPTION OF THE BUSINESS LINE OR DEPARTMENT

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 transactional facilities as well as bilateral & syndicated RCF and Borrowing Base financing.

SUMMARY

Analysis of credit applications and update of the Bank's risk & exposure monitoring system (“Tomcat”):

Tomcat collateral valuation and static data up-date & Collateral Execution

Client and Transaction management & Portfolio monitoring

RESPONSIBILITIES

• 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 “Tomcat” 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
• Make sure that Tomcat 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 Tomcat 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.
• 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.
• 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.
• 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.
• Review loan documentation and related legal contracts.
• Checking conformed copy / original documentation on recently closed deals or amended deals, for recording, filing, safekeeping – for Security agent as well
• 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.
• Circulate various Amendments/Waivers to the Lenders for require consent and chasing regularly to ensure this is received
• Liaising with Legal Counsel and Lenders on Documentation issues
• Establishing strong relationship with key stakeholders from the business
• Claiming and distribution of all Financial Covenants and
• Compliance Certificates
• Work closely with FO/BO to ensure smooth start to finish process
• Perform extensive Security Agent checks on Borrowing Bases
• Good understanding of various Insurances
• Apply all Group rules and procedures linked to financial crime risks prevention (KYC, AML, sanctions and embargo) on a daily basis while processing operations & Contribute to adapt rules and processes linked to financial crime

Evolution

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.

Desired profile

Profile

COMPETENCIES AND WORK EXPERIENCE

• Experience in a Trade & Commodity Finance operations (in a Bank or corporate / trading house) is essential
• Experience of Agent role in syndicated transactions is preferred.
• Candidate would be expected to have knowledge of Documentary Credits and Collections, an understanding of “Documents of Title” and similar instruments and the inherent strengths and weaknesses thereof.
• Understanding of Financing mechanisms related to Global Trade
• Knowledge of either, Metals, Energy or Softs Markets and the global players therein.
• Open minded, transparent can do attitude
• Communicative
• Ability to deal with challenging environments
• Analytical
• Innovative
• Familiarity with a “finance office” environment is also considered an advantage.
• English is essential for this role.
• French would be considered an advantage but is not deemed essential.Familiarity with PC based tools and general office software is essential, including Excel, Word, Lotus Notes etc.

Education:
Educated to A level or equivalent

Languages:
English is essential
French desirable.