Transaction Reporting Specialist

Found in: Talent UK C2 - 2 weeks ago

London, United Kingdom ICBC Standard Bank Full time

Summary

:
The Operations department is responsible for ensuring the complete end-to-end processing of the Bank's transactions and services. They are responsible for ensuring that the appropriate control framework exists to ensure the accuracy of this processing as well as the recording of this in the Bank's books and records. Operations are also responsible for the accurate and timely reporting of the Bank's transactions to multiple regulatory stakeholders globally.

The Operations department performs the following functions:

Trade Support Financial Settlements Physical Settlements LME Trade Clearing Services Clearing and Vaulting Services Structured and Banking Products support Facilitation of trade finance and documentary credit products Confirmations Collateral Management Operations Control
- Balance sheet substantiation
- Nostro production and reconciliations
- Risk and control oversight and monitoring Regulatory Operations Cash, Interest Claims and Nostro management Brokerage Services.

Job Purpose:

The role holder will be responsible for managing and coordinating change initiatives on behalf of the Regulatory Operations team. They will also be responsible for establishing, coordinating and performing quality assurance processes within the Regulatory Operations team to verify the Bank's adherence to its reporting obligations.

The role holder will also be required to support the wider team in the daily reporting processes and associated controls deemed necessary to ensure that the Bank meets all of its regulatory transaction reporting obligations across all applicable regulatory regimes, namely:

MiFID Transparency MIFID Transaction MIFID Commodity Position LME OTC Position Reporting EMIR (UK & EU) MAS LBMA CFTC (Dodd Frank) & Canada SFTR (UK & EU)

Additionally, the role holder will be responsible for the day-to-day execution of processes and controls related to the Bank's CASS obligations and its OTC risk mitigation techniques such as Portfolio Reconciliation.


Key Responsibilities:


Enabling change

Manage and coordinate Change the Bank (CTB) initiatives between Regulatory Operations and project team including participating in the contribution of business requirements Documentation of test cases for change initiatives affecting the Regulatory Operations team Coordinate and manage the execution of user testing schedules, ensuring the testing responsibilities are distributed across Regulatory Operations team and completed per project schedule Participation in industry forums and working groups Proactively manage own personal development and training Identify opportunities for process and control enhancements and drive delivery Engagement with stakeholders on behalf of the function in collaboration and escalation situations

Risk mitigation

Production of Management Information (MI) for all key stakeholders and participation in all internal governance forums as required Continuous evaluation and improvement of the function's control framework Timely escalation of all regulatory and risk incidents through the Bank's formal channels Capture of performance and risk indicators for Operational Risk measurement Perform periodic deep dive analysis on sample data to identify compliance issues Perform impact assessment and gap analysis of regulatory changes in the horizon Perform periodic review of Regulatory Operations' controls, processes and documentation to identify areas for improvement

Client Service

Management of all external requests and communications in relation to the exchange of Unique Transaction Identifiers (UTIs) Management of all external requests and communications in relation to the provision of delegated reporting services and trade repository reconciliation
exceptions Strong partnership with our key stakeholders; namely Compliance, Operations peers and IT

Performance

Ensuring submission of reporting files and messages within the regulatory deadlines Monitoring and resolution of reporting exceptions and rejections Monitoring and resolution of exceptions on all internal and external reconciliations Monitoring and resolution of exceptions on all data assurance checks Identification and escalation of late reporting to all key internal stakeholders

Clients Assets

Execution of controls in line with policies and procedures Producing and reviewing regular and complete MI on CASS adherence and control effectiveness. Timely escalation of CASS risks and issues to the Head of Regulatory Operations


Required Skills, Knowledge, Experience and Values:

Preferred qualifications:

Education to Degree level or equivalent highly desirable

Preferred experience:

Experience in regulatory transaction reporting in at least two jurisdictions Demonstrable experience in implementing and improving policies and procedures within an Operations environment At least 2-5 years of experience in a financial institution At least 4 years of experience in a transaction reporting function Previous experience participating in CTB initiatives as a business stakeholder Previous experience of preparing risk and control MI

Knowledge, technical skills and expertise:

Knowledge of CASS requirements Global Markets products knowledge Understanding of operational risk management techniques Strong Excel skills

Personal attributes:

Team player Resilience Detail oriented High level of integrity

The role would suit someone who is:

Able to navigate complexity Can work in ambiguity

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