Credit Suisse in Singapore has hired senior risk manager Christopher Frantz from Standard Chartered, as global banks in Asia look to further ramp up their Basel-related regulatory teams.
Frantz joined the Swiss bank in January after a 21-year career at Standard Chartered, according to his online public profile.
He is now APAC lead for BCBS 239, the Basel Committee’s regulation governing risk data aggregation and reporting, which came into force last year.
Banks in Asia are increasingly looking to hire people with knowledge of the regulation, which aims to address the inadequacies of banks’ IT and data architectures, and make them better able to aggregate and manage risk quickly and accurately.
Winnie Leung, director of regional compliance at recruiters Pure Search in Hong Kong, says she has worked on three senior Asian BCBS 239 job vacancies in just the past few months.
In Asia, however, finding experienced candidates with in-depth knowledge of any Basel regulation is difficult. Local skill shortages are forcing banks to hire from Europe and the US, says Leung.
She says demand for talent this year will stay focused “at the senior end” and that BCBS 239 jobs require a rare combination of governance, data architecture, and IT infrastructure skills.
Frantz has the “ideal CV” for these jobs, says a Singapore-based middle-office recruiter. Prior to joining Credit Suisse he ran Stan Chart’s BCBS 239 capital and liquidity programme for more than a year, according to his online public profile.
“It’s not common to find someone who’s already led a team in this new regulatory area and is already based at a major bank in Asia,” adds the recruiter.
Frantz, who started at Stan Chart in Singapore in 1994, has worked across both IT and risk-related roles and holds a Computer Science degree.
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