Derivatives – Regulatory Change Consultant
This “Big 4” is looking to fill consultant level positions within the Capital Markets team with opportunities for rapid career progression. Candidates for the Derivatives Reform Consultant position must have a good understanding of the challenges the regulations such as Dodd Frank, EMIR, MifiD II pose to our Capital Markets clients and be able to apply these skills within a consulting environment. As a consultant, candidates will be required to work within the consultancy and client team environments and lead small teams at client engagements whilst being able to own and shape client deliverables with minimal support.
As part of the Capital Markets practice, candidates are expected to be able to demonstrate proven experience in working in a delivery and change environment and have an appreciation of the challenges within change projects.
For this specific role we are looking for candidates that:
- Have a good knowledge of how Investment Banks operate and have proven experience working with various front to back teams within the bank
- Are credible in working on client change projects with the requisite business analysis skills that can immediately be used on client facing work
- Have specialist knowledge in one or more of the following regulatory areas: Dodd Frank, MiFID II, EMIR and have a clear understanding of the challenges that these pose on Investment Bank’s organisations
Required Core and Specialist Skills
Candidates looking to apply for the role of Derivatives Reform Consultant will need to demonstrate a set of Core and Specialist skills. The characteristics and skills of suitable candidates are illustrated below:
Specialist Skills
- 3-5 years’ experience working within the sector with an understanding of the key drivers for change in Capital Markets in the current economic and political environment
- Knowledge and understanding of how Investment Banks and other capital market businesses operate and make money. This must include operating models, processes, products, departments, roles and culture
- Knowledge and understanding of how the different types of organisations in the Capital Markets industry interact and function. This must include not just the banks but other institutions such as affirmation platforms, clearing houses, trade repositories and other regulatory and public bodies such as the FCA, BoE, ESMA
- Understanding of the relationship between Front, Middle and Back Office Management business processes (e.g. Execution, Pricing, Clearing, Collateral, Client reporting, Reconciliations etc.) as well as the regulatory impact on Treasury and Finance
- Knowledge and understanding of the impact of the recent and on-going financial crisis and the impact on organisations within Capital Markets. This must include the impact on regulation and the multiple mechanisms being employed by regulatory bodies
- Be able to discuss multiple Capital Market products and services. Candidates must be able to understand how Derivatives Reform regulations (Dodd Frank, EMIR, MifiD II) impact the bank’s Execution, Clearing and Data Reporting processes across various products/asset classes
- Having an appreciation and understanding of the key challenges driving the change strategy agenda within Capital Markets. This should include the impacts on processes, operating models, data management and business/technology changes
- Have a proven track record of delivering change initiatives within Change as part of a team that has delivered within a complex banking environment
- A working understanding of the key political and economic drivers influencing the Regulatory environment across Capital Markets
- An understanding of the key requirements in at least one of the following Regulations: Dodd-Frank, EMIR, MifiD II
- A good understanding how compliance with a given regulation will impact the business model of financial institutions and how multiple facets of regulation overlap with each other
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