The Equity Regulatory team develops and maintains services and components that deliver all the regulatory reports or tax computations on equity derivatives products like options, futures and swaps.
Your main role is to conduct studies and assess impact analysis to answer European and US regulatory like: MiFID 2, DFA, EMIR, HireAct 871m… on Equity Derivatives product (Equity Listed & OTC products). You will be the main contact with the Business, you will have to write the specifications and organize the tests.
The project is composed of several streams:
- Pre-trade transparency stream aims to make public all quotes sent to a client under a given size/price and traded outside a trading venue. The main requirements are: capture all prices on equity derivatives provided by sales & traders to clients, compute MIFID eligibility and publish these quotes on an external portal so that they can be consulted by other clients with the same MIFID classification;
- DFA and EMIR Transaction Reporting. All the new OTC Regulations required the financial entity to report all the life cycle event of their OTC deal. SG is using DTCC as a GTR with some FPML reports (based on xml format).
- HireAct 871m regulation: evaluate the tax to pay to US IRS on eligible financial products having US underlyings sold to non-US clients. The eligibility assessment is computed considering risk indicators (delta, SET) and is reevaluated daily for secondary trading animation.
Your role in a Nutshell:
- Collect and centralize business needs on the different regulatory streams;
- Perform detailed studies and challenge our business partners when needed;
- Write functional specifications;
- Participate to costing estimations (time, budget);
- Elaborate tests scenarios (new features validation + regression testing scenarios);
- Connect the different actors involved in the project: development team in Bucharest, related applications teams (Paris, Bucharest), transversal project managers, business product owners;
- Validation and homologation of the developments including chain tests with related applications;
- Regular reporting to clients;
- Follow the developments and raise alerts if needed;
- Integrate user feedbacks during and after UAT;
- Write functional release notes;
- Follow post production support.