Senior Associate -Trade & Transaction Reporting
The role provides independent assurance to the Business that T&TR is both complete (i.e. all transactions that should have been reported, have been) and accurate (all reportable fields containing correct data) per the regulations, through regular testing to agreed Authoritative Sources of data. Current scope includes; MiFID II, EMIR, MAS Dodd Frank Act and Canadian Transaction Reporting.
What the Business Does:
The Role is in NWM COO and reports to AVP – Trade and transaction reporting India
As Associate Trade & Transaction Reporting (Assurance) – Grade 6 your key responsibilities will be:
- Undertake the processing of Tactical Reconciliations (where the reconciliation is run on self-developed tooling) and initial investigation of the outputs
- Undertake the initial output of Strategic Reconciliations (via Reg Recon)
- Undertaking Assurance testing activities, including obtaining and transmitting data to 3rd party assurance provider, receipt of reports, triage into issue logs in order to allow detailed review and investigations
- Identification and investigation of reporting discrepancies through discussions with Middle Office, Operations, IT, Compliance and other key stakeholders in order to document findings.
- Support the proactive identification, review and remediation of potential issues and incidents related to Trade & Transaction Reporting.
- Act upon any breaches in regulatory requirements as soon as possible, escalating as appropriate and taking remedial action. Develop a read-across approach and undertake read-across reviews.
- Support the development of clear procedures and controls to ensure that transaction reporting is undertaken in line with regulatory requirements. Oversee the associated RACA and control testing programme.
- Work with the remediation team(s) to drive prompt remediation of Reporting breaches in-line with Risk Appetite
- Own, manage and supervise the risks in the business area, ensuring mechanisms are in place to identify, report, manage and mitigate risk within defined risk appetite.
The skills you will need:
- Require a Qualified Accountant/Regular MBA and/or Graduate degree with Banking and regulatory reporting experience
- Good understanding of Trade and Transaction Reporting requirements, including specialist knowledge for at least one regulation / asset class
- Good understanding of front to back trade booking processes in order to be able to assess reporting breaches
- Has a good grasp of trade and data flows and uses this knowledge to identify where there may be risk of incorrect or incomplete reporting, how changes or issues impact the efficacy of assurance testing.
- Proven understanding of operational risk management & control; including a track record of process / control enhancements
- Strong Microsoft Office skills including MS Word, Project, Visio & PowerPoint
RBS doesn't just provide you with an exciting work and a generous pay
package. We take pride in ensuring your personal and professional
developments are first and foremost. You will have access to a range of
development and learning programs, services, and support designed to
help you manage and balance your work/life priorities.
Whether its retirement planning, supporting a charity close to your
heart or taking care of your well-being, RBS makes sure you are taken
care of. For more information on our benefits, please visit our website.
At RBS, our purpose is to serve customers well. We serve around 24
million customers across the globe, and our aim is to consistently meet
their needs wherever they find us. Our ambition is to become the UK's
number-one bank for customer trust, service, and advocacy by 2020. Our
global workforce is integral to helping us achieve this goal.
With colleagues across 5 main states, and connected across-the-globe by
common values and a unified ambition, RBS India delivers vital bank
functions that help us offer truly round-the-clock support to our UK
customers, and 24/7 banking to our international customers.
RBS welcomes applications from all sections of the community.