Benjamin Stone

Benjamin Stone Email and Phone Number

Director - Business Management and Control, Commodities at ICBC Standard Bank Plc @ ICBC Standard Bank Plc
london, england, united kingdom
Benjamin Stone's Location
London, England, United Kingdom, United Kingdom
About Benjamin Stone

A leader focused on developing and retaining high-performing teams, who creates a tight control environment and understands both P&L, regulatory, operational and market risk. A Commodities Manager with commercial acumen and “Buy” and “Sell” side experience who is the “go to” individual to see new asset classes, new systems, process improvements and complex deal structures implemented in Front, Middle and Back Office. From a regulatory perspective, a Commodities professional that matches finite resources to risk assessment, guiding the commercial managers within his care to facilitate new business and highlight existing responsibilities.

Benjamin Stone's Current Company Details
ICBC Standard Bank Plc

Icbc Standard Bank Plc

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Director - Business Management and Control, Commodities at ICBC Standard Bank Plc
london, england, united kingdom
Website:
icbcstandard.com
Employees:
815
Benjamin Stone Work Experience Details
  • Icbc Standard Bank Plc
    Director - Business Management And Control, Commodities
    Icbc Standard Bank Plc Feb 2019 - Present
    London, United Kingdom
    Facilitation of the existing and new commodities business. A global focus, assessing, mitigating and reporting key FO risks and controls whilst aligned with commercial direction. Promoting a risk awareness culture within 1st Line in order to improve conduct, guide senior commercial managers and reduce regulatory breaches (MiFiD2, CFTC, MAR, EMIR, Volcker, SM&CR) and operational risk incidents whilst driving the business forward.• Commercial, Technical and operational process redesign… Show more Facilitation of the existing and new commodities business. A global focus, assessing, mitigating and reporting key FO risks and controls whilst aligned with commercial direction. Promoting a risk awareness culture within 1st Line in order to improve conduct, guide senior commercial managers and reduce regulatory breaches (MiFiD2, CFTC, MAR, EMIR, Volcker, SM&CR) and operational risk incidents whilst driving the business forward.• Commercial, Technical and operational process redesign for Trade Validation and IPV (Product Control), TAS Orders and Floating Repo.• Governance Forums: Key Member: Conduct, Best Ex, New Product. Chairing: eForum.• Central in Base and Precious IT development (Fastfill, Metals to Murex, SmartTrade).• T+1 Market Surveillance Improvements – increasing 1st Line ad 2nd line understanding building and implementing models for detection of 5 types of market abuse and implementing strategic fix (SteelEye). A 7 year review of trading data.• Cross asset class execution platform risk assessment (house and client) leading to tighter pre-trade controls (limits, throttles, collars etc.) and a closed regulatory gap.• Multiple MiFiD2 enhancements (CPL remediation, Order Reporting, Complex TradeIDs etc.)• Cross departmental project management (PTT, algorithmic trading, Exchange Limits, Trading Technologies Sponsored Access for Base Metals, SGE & SHFE). Show less
  • Millennium Management
    European Head Of Commodities Operations
    Millennium Management Sep 2016 - Sep 2018
    Mayfair, London
    Leading a 5 man team involved in a global Commodities expansion. EMEA Operational responsibility for Commodities and all exchange traded products (T0 and T+1) - Equities, Rates, Currency, Bonds futures etc) and T0 FX responsibility as part of a follow-the-sun model servicing 180 PM groups globally.• ENDUR implementation for Listed products for Oil, Base and Precious Metals, Coal, Softs, US and European Power and Gas (DMA and Listed) - live risk and P&L representation.• End to End… Show more Leading a 5 man team involved in a global Commodities expansion. EMEA Operational responsibility for Commodities and all exchange traded products (T0 and T+1) - Equities, Rates, Currency, Bonds futures etc) and T0 FX responsibility as part of a follow-the-sun model servicing 180 PM groups globally.• ENDUR implementation for Listed products for Oil, Base and Precious Metals, Coal, Softs, US and European Power and Gas (DMA and Listed) - live risk and P&L representation.• End to End MO and Ops responsibility the commodities business including – booking, P&L (live and EOD), confirmation, margin call and interest payments, daily total equity reconciliation (listed), OTC reconciliation, lifecycling, and financial settlement. • Commodities Audit Responsible• Central part of New Product Approval Process for Commodities. • Central for introduction of MiFiD2 controls for Commodities• Global staff cross training, adjustment of Global Operating Model (“follow the sun” T0 SLA, MIS, Procedure, Process and RSCA/Regulatory framework).• Spearheading MIS, KPI, system and on-shore and off-shore process improvements• Onboarding Ops focal point for all EMEA Commodities PM groups and Listed products for other EMEA PM groups. Show less
  • Accenture
    Management Consultant - Commodities
    Accenture Apr 2015 - Aug 2016
    London, United Kingdom
    Market Analysis and Business Development (Bid Lead) targeting Irish electricity clients. Winning a Project Management/Business Process Development role with the dominant Irish Electricity utility preparing for “go-live” in the I-SEM electricity market changes (similar to NETA/BETTA). Project Management of 2 projects within the programme of work won. SME and Functional Lead (Design Authority/Project Steering Committee) for an ENDUR implementation at a Precious Metal refiner.
  • Redshaw Advisors Ltd
    Operations Consultant
    Redshaw Advisors Ltd Oct 2014 - Nov 2014
    Greenwich, London
    A month's work putting the operational systems into a carbon start-up. Working in conjunction with the employees to gather requirements, produce design documents and implement the deal capture system for this young company. All the end to end elements of the trade lifecycle included (capture, confirmation, invoicing, physical and financial settlement). Five emission types in three currencies. MtM, VAR calculations, undiscounted and discounted position bucketing and reporting, curve marking… Show more A month's work putting the operational systems into a carbon start-up. Working in conjunction with the employees to gather requirements, produce design documents and implement the deal capture system for this young company. All the end to end elements of the trade lifecycle included (capture, confirmation, invoicing, physical and financial settlement). Five emission types in three currencies. MtM, VAR calculations, undiscounted and discounted position bucketing and reporting, curve marking, margin calculation, invoice and confirmation construction, cumulative physical and financial settlement schedules by product, currency and counterparty. Show less
  • Barclays Capital
    Vice President, Emea Commodities Trade Support & Logistics, London
    Barclays Capital Sep 2011 - Jun 2014
    Canary Wharf, London
    On the trading floor managing 3 trade support/logistics teams servicing 4 trading desks and the salespeople feeding into them (Oil , Power & Gas, Emissions/Coal/Iron Ore & Freight, Base Metal & Precious Metals, & Softs (Cocoa/Coffee/Sugar/Wheat/Soybeans). P&L explain, query remediation and trade lifecycling. 10 asset classes, multiple global delivery locations, $6-8 billion house/client assets in storage worldwide. • Management, performance, training, development and retention… Show more On the trading floor managing 3 trade support/logistics teams servicing 4 trading desks and the salespeople feeding into them (Oil , Power & Gas, Emissions/Coal/Iron Ore & Freight, Base Metal & Precious Metals, & Softs (Cocoa/Coffee/Sugar/Wheat/Soybeans). P&L explain, query remediation and trade lifecycling. 10 asset classes, multiple global delivery locations, $6-8 billion house/client assets in storage worldwide. • Management, performance, training, development and retention responsibility for a FSD Trade Support team as part of a “follow the sun” model and Base & Precious Logistics and Gas & Power Trade Support teams.• Designed and implemented global, best in bank, commodities-wide, trade booking and amendment metrics across 3 trade capture systems establishing an unprecedented Commodities MIS for business process analysis, KPI, KRI and resourcing decisions.• EMEA Operational Representative for New Product Approval Committee – FO “Go-To” person for getting issues resolved and new business implemented. • EMEA Ops representative on Commodities Risk and Control Committee – reviewing controls, (policies, procedures, task lists) and RSCA framework and KRIs, shaping risk incident reporting and co-ordinating remedial actions.• Many structured deal implementations – selection: Barclay’s first physical coal deal and rent deal structures within Base Metals, Barclays two EMEA based Oil Inventory Finance Deals. Communication and training to stakeholders and teams involved. Working closely with Product Control - P&L and balance sheet substantiation.• Key player in Barclays EMIR implementation for Commodities.• Introduced tougher controls around brand/chemical analysis, location, warehouse receipt for Base Metals Inventory finance business ($2 billion client assets held).• Audit responsible for Financially Settled Derivatives, Power and Gas and Base and Precious Metals Trade Support and Logistics Teams. Show less
  • Barclays Capital
    Vice President - Emissions, Coal, Iron Ore And Freight Trade Support
    Barclays Capital Sep 2006 - Sep 2011
    Canary Wharf, London
    End to end project management of the emissions asset class. Multiple IT projects for the design of instrument types, Auto-Booking, Live Position, nostro setup and reconciliation, curve structure, P&L and valuation (designed trader’s flash), trade reconciliation and confirmation and physical and financial settlement. • 370+ strong OTC customer base and 7 billion tonnes of EUAs, CERs and ERUs traded.• Introduction of CO2 Index book and delta contract PV daily drip. Scoping, UAT… Show more End to end project management of the emissions asset class. Multiple IT projects for the design of instrument types, Auto-Booking, Live Position, nostro setup and reconciliation, curve structure, P&L and valuation (designed trader’s flash), trade reconciliation and confirmation and physical and financial settlement. • 370+ strong OTC customer base and 7 billion tonnes of EUAs, CERs and ERUs traded.• Introduction of CO2 Index book and delta contract PV daily drip. Scoping, UAT testing, training and implementation.• Risk Assessment, government agency interaction, stakeholder management and staff training after phishing, theft and carousel fraud within market.• Risk Assessment, remediation and implementation of filtering process for material from sanctioned countries.• In January 2009 the team took trade support responsibility for Coal, Iron Ore and Freight. Often used in a consultancy role on the operational realities on Emissions Trading, I've worked with clients, The Tokyo Stock Exchange, The UK Debt Management Agency an sit on quarterly DEFRA forum that shapes the development of the UK and European Registries. Show less
  • Barclays Capital
    Assistant Vice President - Commodities Operations
    Barclays Capital Dec 2003 - Sep 2006
    Canary Wharf - London
    Initially hired as an addition to Barclay's Capital rapidly expanding Continental Power Trading Desk and to cover the paternity leave of the current manager. I helped in a team scheduling 6 different European electricity markets, bringing my commercial awareness and adding in a number of efficiency measures.
  • Txu Europe
    European Operations Manager
    Txu Europe Aug 2002 - Jan 2003
    Geneva, Switzerland
    Working with management team for the entry into new markets. Managing an international nine strong team scheduling seven energy markets. Power exchange and interconnector bidding. Power station offtake, gas storage optimisation.
  • Txu Europe
    Trader, European Electricity Markets
    Txu Europe Apr 2000 - Aug 2002
    Geneva, Switzerland
    Day ahead, week ahead, month ahead trading, graduating to quarters and years in Germany, France and Switzerland. Developing understanding of the price drivers within and between these markets.- Working with analytical team and speculatively trading and hedging structured deals to a positive book value of 10 million euros in 2.5 years.- Optimising Virtual Storage structure deals using knowledge of price shape, non-standard options and forward curve volatility to add 350,000 euros… Show more Day ahead, week ahead, month ahead trading, graduating to quarters and years in Germany, France and Switzerland. Developing understanding of the price drivers within and between these markets.- Working with analytical team and speculatively trading and hedging structured deals to a positive book value of 10 million euros in 2.5 years.- Optimising Virtual Storage structure deals using knowledge of price shape, non-standard options and forward curve volatility to add 350,000 euros worth of value into an already profitable deal. Show less
  • Txu Europe
    Senior Analyst, Risk Management
    Txu Europe Jan 1999 - Apr 2000
    Geneva, Switzerland
    Project managing entry into the electricity market in Germany and gas hub at Zeebrugge, Belgium and leading to a businesses worth 4 and 9 million euros/annum. Ongoing Risk Management of each.
  • Txu Europe
    Analyst, Structured Deals
    Txu Europe Apr 1998 - Jan 1999
    Ipswich, United Kingdom
    Value Chain, Structured deal and M&A work in German and Dutch energy markets. Working in acquisition team bidding for 25% of the Dutch power market. Power station economics and large industrial contract modelling (interruptible contracts, DSBR, Triads etc). Gas supply contracts and indexation.
  • British Steel
    Commercial Analyst “Plates And Profiles”
    British Steel Apr 1997 - Apr 1998
    Leeds, United Kingdom
    Analysing and managing the value chain between source mill, distributor and customer. Facilitating long term partnerships with the largest customers specifically the Construction and Earth Moving Equipment (CEME) sector.
  • British Steel
    Production Controller “Long Products”
    British Steel May 1995 - Apr 1997
    Bristol, United Kingdom
    Directing a 10-man team to service the changing processing requirement of a steel stockholder.
  • British Steel
    Market Analyst “Automotive Sector”
    British Steel Sep 1994 - May 1995
    Brierly Hill, United Kingdom
    Entering British Steel's Graduate Management Training Scheme straight from University. Comprehensive analysis/modelling of steel supplied to the automotive sector.

Benjamin Stone Education Details

Frequently Asked Questions about Benjamin Stone

What company does Benjamin Stone work for?

Benjamin Stone works for Icbc Standard Bank Plc

What is Benjamin Stone's role at the current company?

Benjamin Stone's current role is Director - Business Management and Control, Commodities at ICBC Standard Bank Plc.

What schools did Benjamin Stone attend?

Benjamin Stone attended Umist, Plymouth College.

Who are Benjamin Stone's colleagues?

Benjamin Stone's colleagues are Diana Hewit, Sofiane C., Melanie Ewane, Marina K., Diana Rufai-Shittu, Darren White, Steve Saunders.

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