My client, an Investment Bank is looking to recruit a dynamic individual to work within their Transaction Reporting Oversight function. The Team supports and oversees the Trade & Transaction Reporting activity of the Markets business, with responsibility for ensuring the completeness, accuracy and timeliness of the reporting across all asset classes. This has been outsourced to a third-party provider, who will be responsible primarily for report generation and delivery, reconciliations and exceptions management across a number of asset classes. Reporting jurisdictions - EMIR, Dodd-Frank, Canada, MAS.
The nature of this role requires strong multi-faceted individuals who can facilitate full control of the business activities, by understanding the lifecycles of the products traded as well as the systems and reporting mechanisms involved.
Role specifics: * As of June 2017, the 3rd party assumed responsibility for the report generation, report delivery, reconciliation and exception management for the flow Rates (DF and EMIR) and FX (DF, EMIR, MAS and Canada) activities. Other asset classes and jurisdictions will be migrated throughout 2017 and 2018. * Controlling the daily reporting business undertaken by the bank and Vendor will be a major part of the role, ensuring the Third party is conducting and meeting the requirements set out and meeting SLA's. Encompassing the following: exception management, reconciliations, controls/process management and issue investigation/escalation & resolution. This will also involve an element of vendor mgmt. as well as internal stakeholder mgmt. (liaising with internal operations and control functions) in order to ensure compliance with the bank's reporting requirements and internal controls mandate. * Exception Management: During the first phase of the third-party outsourcing, there will be an emphasis on manual exception management routing to other areas of the bank. Therefore, individuals will be expected to have a high-level of attention to detail, experience in managing large volumes of exceptions, strong control escalation mind-set and strong communication/influencing skills. * BAU Supervision: Responsibility for the BAU Supervision of Vendor and the Bank's activities will also be part of the role. The individual will need to be able to understand, compile / contribute to MI in relation to their business in terms of its controls as well as adhering to and operating within predefined limits or caps that relate to KRI or KPI's attributable to the business, escalation and monitoring of MI and SLA's. * Vendor Management: As the outsourcing model matures, there will be more focus on Vendor Management. Overseeing and controlling the activities and performance of the vendor within the parameters of the agreed service agreements. * Issue Management: The candidate will need to oversee all internal and vendor run activities and work alongside them to raise, prioritise and overcome issues as they arise, in accordance with the internal Issue Escalation framework and act as a Breach oversight function. * The team contributes to all regulatory reporting change initiatives on behalf of the business as well as reviewing requirements to ensure they are complete and fit for purpose. Review back to internal rules interpretation and policies. * Management and delivery of the 'book of work'. Including review of all new regulations to understand the scale of the impact on trade and transaction reporting.
Essential Experience: * A good understanding of relevant rates/credit/equity/FX/futures markets including vanilla and structured trading businesses ideally earned in a middle office environment. * An understanding of regulatory reporting requirements. Ideally this includes multiple global regulators (CFTC, JFSA, EMIR, Canada, and MiFID II) and potential future regulations that will impact the business we support. * Understand the key elements of the front to back processes including other infrastructure groups i.e. Finance, Market risk, Credit risk, Operational risk, Legal, Tax and Compliance. * Experienced with running reconciliations, exception mgmt. processes and controls. * Good understanding of Confirmations, ISDA documentation and structured product documentation. * Strong IT system skills, proficient in Excel.
Supplementary Experience: * Knowledge of Excel and Access Databases. * Experience working with/managing external vendors. * Self-starter with excellent communication skills and the ability to communicate at all levels. * Ability to gather information from a broad range of sources and disseminate to the team, and other internal teams * Accept responsibility for actions, willing to make informed decisions and have the confidence to act decisively on those decisions.
Candidate Profile: * Display a structured and organised approach to daily task management, with a focus on control and a keen attention to detail. * Be aware of, and actively embody, the importance of escalation to management and key stakeholders for issues and problems that will occur throughout the day. * Actively look for opportunities to design operational improvements, consult, collaborate and implement with the wider organisation. * Demonstrate ability to ask probing questions in order to gather relevant information to resolve issues / ensure robust controls are maintained. * Have the ability to think tactically and strategically in regard to regulatory reporting. * Be prepared to listen to the thoughts of others, but where appropriate, defend a view of a situation and use clear communication and logic in the light of differing opinions to find a resolution.