Trainee - Asset & Liability Management
Responsibilities
Description of the Business Line or Department
Societe Generale Private Banking (SGPB) represents the wealth management arm of Societe Generale, managing over EUR110bn of assets. SGPB is a worldwide private bank with a strong European base, offering wealth management solutions to entrepreneurs and High Net Worth Individuals.
Kleinwort Hambros is part of the SGPB network, offering specialist banking and wealth management services to domestic and international clients through the UK and related offshore markets (Channel Islands and Gibraltar).
You have the opportunity to join as a Trainee within the Asset & Liability Management (ALM) department which sits within the Finance division and works closely with the Treasury department. The team provides expert resources in the fields of managing interest rate, FX and liquidity risks at the balance sheet level, all of which can present significant threats to the safety and soundness of the bank. The team is responsible to meet the liquidity requirements to balance supply and demand of money and capital to sustain the growth. Moreover, the team coordinates the implementation of Head Office (Paris) guidelines regarding liquidity, structural interest rate & foreign exchange risks, capital management, ALM modelling and implementation of ALM indicators in the systems of Societe Generale.
Summary of the key purposes of the role
The trainee will be more specifically working on the
§ ALM modelling: annual review of the ALM modelling (liquidity, interest rate risk) for deposits & loans,
§ ALM norms: implementation test of the application by SG Kleinwort Hambros of ALM norms issued from SG group,
§ Daily monitoring of the structural risks,
§ ALM controls (monthly, quarterly) relating to ALM indicators & reportings,
§ Projects impacting ALM indicators,
§ Ad hoc request relating to the products of the Balance sheet.
Summary of responsibilities
The responsibilities of the trainee will be:
- In the framework of the ALM modelling annual review and in collaboration with the ALM, Treasury teams as well as the teams in charge of the advisory/’second line of defense’ with regard to modelling at SG group level, the Trainee will
. review the definition of the current ALM models and conduct quantitative and qualitative analysis,
. provide high quality documentation of the ALM modeling review integrating quantitative and qualitative explanations, business drivers that support the analysis, evidence of the impacts of the modeling on ALM indicators (liquidity gap, interest rate risks indicators),
. provide documentations to support the presentation for getting the approval of the reviewed models from internal (SG Kleinwort Hambros) and external (SG group) committees.
- To conduct the tests of right application of Head Office ALM guidelines relating to the amortizations of items of the Balance sheet and to provide a synthesis of this for internal and external communications,
- The daily monitoring of the respect of the limits for Structural Interest rate & Foreign exchange risks by overseeing potential breach and looking for explanation and resolution with Treasury team,
- To realize ALM controls relating to ALM indicators on a monthly or quarterly basis (liquidity gap, structural interest rate & FX risks),
- Contribution to projects impacting ALM,
- Improvement (automation) of ALM reportings.
Level of Autonomy and Authority
Autonomy to access to data of the Bank, to analyze ALM indicators, to communicate with others
departments of the Bank (Treasury, Finance, Risk, Accounting, Regulatory team).
Profile required
Competencies
Fluent in English (is essential)
Basic knowledge of ALM
Analysis and synthetic abilities
Data analysis experience and ability
Advanced quantitative and qualitative skills
Proficient in applied mathematics and modelling
Attention to details
Problem-solving skills
Team spirit and and ability to work with different departments (Treasury, Regulatory team, Risk, Finance)
Excellent communication skills for written and verbal presentation (English)
Planning, Organization and respect of dead line
Professionalism and reliability
System knowledge: Microsoft Suite (Excel, Word, PowerPoint, Access), VBA, SQL
Coding experience in a statistical language (R, Python, etc.), preferably R.
WORK EXPERIENCE
Experience that demonstrates that the candidate has:
Fluency in English,
Data analysis and synthesis abilities,
Strong written and verbal skills in English,
The ability to interact with different departments with the understanding of the counterpart’s level of understanding or perspective,
An ability to be self-directed and apply initiative,
Developed IT competencies,
Modelling abilities,
Genuine interest in the financial markets in general and specifically in interest rate risk and liquidity risk management.
EDUCATION
Necessary
- Master degree in Finance/Mathematics or engineering with a specialization in Finance,
- Strong knowledge of Microsoft pack (Excel, Word, Power point, Access),
- Knowledge of VBA and SQL.
Knowledge in ALM acquired during the education or a first professional experience,
Coding experience in a statistical language (R, Python, etc.), preferably R.
LANGUAGES
- English – Fluent (is essential)
Why join us
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.
Business insight
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 Société Générale, 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.
We are an equal opportunities employer and we are proud to make diversity a strength for our company. Societe Generale is committed to recognizing and promoting all talents, regardless of their beliefs, age, disability, parental status, ethnic origin, nationality, sexual or gender identity, sexual orientation, membership of a political, religious, trade union or minority organisation, or any other characteristic that could be subject to discrimination.