Description of the Business Line or Department
Regulatory Reporting team sits with the Middle Office in London and is responsible for managing the Group’s Regulatory Reporting including but not limited to current and future obligations - MiFiD II daily transaction reporting, EMIR reporting, PSD1, CSDR, SCV, SFTR, etc.
The team is responsible for ensuring completeness, accuracy and timeliness of all regulatory reports in scope.
The team helps maintain control standard and provide scalability to cope with existing requirements. These controls include: Submission control: the team monitors daily submission and swiftly deals with pre and post submission errorsQuality assurance: the team carries out test on fixes on issues identified and ensure quality assurance.Remediation: the team operates cross functionally. Any issues identified are remediated and where required affected transactions are back reported.Governance: the team provides a centralised risk control and governance framework. Project SME capability: to provide SME capability to projects involving regulatory change and ensure any changes in regulation are properly assessed,and embedded into the team.Audit: to act as interface for the wider Operations function supporting the external audit campaign and to deliver satisfactory audit outcomes on those performed on the regulatory reporting team.
Summary of the Key purposes of the role
Manager, Regulatory Reporting will head the Regulatory Reporting team, managing and developing the staff and ensuring implementation of Target Operating Model.
An ideal Candidate has specialist knowledge within Regulatory Reporting space as well as managerial experience.
The Candidate is dynamic and has experience working in a fast-paced environment with excellent business analysis, communication, organizational and people skill.
This role will require working with different stakeholders at varying levels of seniority across division and across different derivatives products.
This role will also require communication with external stakeholders, such as regulators, auditors, compliance etc.
Summary of responsibilities
· Oversight of Regulatory Reporting as per required frequency.
· Quality control of Regulatory Reporting.
· Management Information: Oversight and where required intervention in production and dissemination of various metrics on Regulatory Reporting.
· Query management: Oversight and where required intervention in responding to internal, client and regulator queries.
· Maintenance of issues log and assist with testing fixes as required.
· To participate, lead or coordinate any project in the Regulatory Reporting scope
· Be the first escalation point for Regulatory Reporting Team (BAU - Management)
· Ensure the team continue to review the existing tools and implement changes through to generating ideas for improvement, design, build, test and execution of all technical changes for all tools
· When attending meetings, ensure the information is fed back to the Group Head of Middle Office and Team where appropriate
· Perform all duties in accordance with the principles outlined in the SG Code of Conduct, as well as the policies and procedures relevant to your responsibilities, to ensure that you adhere to a culture that treats clients fairly and focuses on the long-term sustainability of client relationships
· Develop and maintain strong working relationships at all levels of the organization in order to navigate through regulatory requirements.
· Establish proactive partnerships with other key stakeholders, including, but not exclusively Compliance, Operational Risk, Front Office and IT to support service and activity development/remediation/reporting initiatives.
· Identify risks, suggest mitigations, and track reporting status including all risks related to each incident or potential incident
· Ensure that the Regulatory Reporting team support Operational Risk standards and Bank policy requirements.
· Identify risks, suggest mitigations and track reporting status including all risks related to each incident or potential incident.
Team Management and Development
Lead and drive the team forward in creating a continuous improvement / lean culture
Performance Manage the team dealing with under performers and taking appropriate action to bring people back on track or manage out
Maintain the skills matrix for the team and review at least half yearly to ensure the team cover all duties
Ensure succession planning is maintained
Carry out regular one to one’s with the team setting expectations and objectives
Carry out end of year appraisals and setting objectives with staff
Facilitate regular team meetings to drive communication and engagement
Deal with contingency planning on an annual basis
Ensure staff are assisted with the wider group development opportunities to help them grow
Agree staff holidays ensuring the team’s agreed margin is not breached