As a key member of Regulatory Reporting & Control, within Finance Europe, the incumbent will primarily enable the respective Head of the unit, to delegate their responsibility of matters of Change, Assurance, Control and Accountability of the Regulatory Reporting.
The incumbent will be required to:
- programme manage end-to-end regulatory change with strong collaboration with finance IT and respective finance teams.
- ensure existing applications complies with regulatory requirements
- monitor the regulatory horizon, develop product roadmaps, definitions and operating models by engaging with external and internal SME's
- develop stakeholder engagement plans to obtain 'buy-in' from respective teams
- operate within area of high ambiguity, providing clarity and strong documentation
- effective the prudential regulatory reporting Change Backlog management, and includes creating and clearly communicating backlog items
- fully leverage any regulatory quantitative, qualitative analysis, systems and controls to drive process enhancement and more effective delivery across the business
The incumbent is responsible for driving and maintaining activities to ensure quality in the processes and reporting of the team by using their knowledge of the prudential regulatory framework to critically appraise processes to consistently ensure compliance. This could include the implementing an assurance and control system that is assessed of its adequacy and may include periodic conformance audits of the operations of the systems, processes and outputs and the driving or delivering of enhancements in the control environment.
The incumbent will collaborate with the Regulatory Finance Policy and Reporting teams, Finance IT and Change and will champion a culture of transparency, inspection and adaption to quickly create a minimum viable product, i.e. test it, learn what works, and iterate until it meets the requirement.
- Accountable for effective regulatory change management, including the development, prioritisation and refinement of the backlog in accordance with factors agreed with the Head of Regulatory Reporting & Control and in collaboration with Finance Change and Reg Policy.
- Ensuring that the regulatory change is transparent, visible and understood by Change, Finance IT and Regulatory Reporting and Policy Teams.
- Development of requirements by collaborating with Regulatory Policy, Reporting and Finance IT and Change and dividing requirements into clearly identifiable pieces, by breaking down regulatory requirements into clearly defined, manageable chunks that can be delivered independently.
- Collaborating with Finance IT, Change and the Regulatory Reporting teams and championing a culture of transparency, inspection and adaption to quickly create a minimum viable product, i.e. test it, learn what works, and iterate until it meets the requirement.
- Responsible for applying Regulatory knowledge to conduct pre-UAT on increments on behalf of the Regulatory Reporting team with the aim to reduce defects during the UAT cycle.
- Responsible for Regulatory Finance analytical tasks where appropriate and as required.
- Owner the Regulatory Change funding budget, working with SICM to agree on future requests for funding and Finance IT and Change to ensure appropriate allocations and that associated underlying metrics that support delivery and effective use of funding.
- Represent UK Regulatory Reporting in governance and cross functional forums such as steercos or working groups and in collaboration with Finance IT and Change to provide update-to-date status of initiative progress.
Generate trust by maximizing transparency. Develop a series of shared goals with key stakeholders, to ensure that everyone is moving in the same direction.
Assurance and Control
- Effective Controls: Ensuring effective control and robust governance structures and reporting review. Ongoing development of process control strength and identification of potential processing risks and their remediation.
- Quality Assurance: Overseeing a quality assurance framework consisting of reconciliations and sample checking complemented by periodic internal and external reviews of various reports, as appropriate.
- Documentation: Developing and maintaining a comprehensive document library including end to end processes and procedures across all relevant functions while also creating and maintaining a reporting rule catalogue.
- Governance: Participate in the Change Steerco by making decisions and ensuring decisions are documented and escalating as appropriate.
- Management Information:Defining and agreeing Key Risk Indicators and any acceptable Tolerance and ensuring reporting of Management Information against these indicators in relevant forums
- Diagnostics:Leading any root cause reviews working closely with different teams in order to define and implement appropriate remediations and solutions.
- Continuous Improvement: Reviewing and identifying opportunities for efficiencies and quality improvements through process improvement, automation and enhancement to controls.
- Training: Implementing an ongoing training program in order to ensure that all staff that are either performing or involved in Regulatory Reporting or are impacted by Regulatory Reporting are adequately trained based on their role.
- Data Quality: Maintaining the source data dictionary for Regulatory Reporting while working with the wider organisation in to ensure a high quality of data that is included within regulatory reports.