About

Physical Commodities Risk Assurance (PCRA)About the JobPhysical Commodities Risk Assurance is responsible for the risk management function that provides second line risk oversight, risk assurance and risk management relating to physical commodities owned by ICBCS, managed by ICBCS as a custodian for clients or held as collateral by ICBCS to support transactions. The PCRA function is responsible for second line risk oversight, risk assurance and risk management relating to all physical commodities in the Bank. Physical commodities currently include the full range of precious metals, base metals and energy products. Typical transactions involving physical commodities are proprietary trading or risk management and financing transactions whether on an ownership basis or otherwise. The primary risk governance committee is Physical Commodities Committee (PCC). The purpose of the PCRA function is to provide assurance that the risks to which ICBCS is exposed as a result of its activities involving physical commodities are managed effectively. This includes both direct risks of financial loss arising from physical commodity inventories or transactions involving physical commodities and associated credit, market, operational, legal, insurance, reputational or regulatory risks arising from second order impacts. The function includes defining, updating and managing ongoing application of the risk framework including policies and risk review, physical inspection and risk assessment, reporting and other risk management procedures through which physical commodities risk is managed. What you'll be doingThis role is a key part of the Physical Commodities Risk Assurance (PCRA) team with a focus on physical commodities in Europe and the Americas and during London hours, reporting to the Head of PCRA in London. You'll be responsible for: