External Reporting, Traded Risk (ED & Director level)
Role Purpose
- Ownership for the Traded Risk sections in the Group’s Interim and Annual Report Accounts and Pillar 3 reports have transferred from Group Finance to Risk, following agreement by the Group CRO and Group CFO at June’s Disclosure Forum, to drive ‘Better Reporting’ and clearer accountability.
- The WMR Traded Risk Team will have ongoing interaction and working relationships with the CROs for Wholesale Credit Market Risk, Global Head of Risk Governance, Global Head of Retail Risk Management, Head of Group External Reporting, Head of Group Accounting Policy Standards, Head of Group Regulatory Information Analysis Reporting, Regional Chief Accounting Officers, external internal Audit representative as well as their delegates.
- Working for the Senior Manager, WMR Traded Risk , at the outset the jobholder will be responsible for the following but it is recognised that this is a new role and as such the role will evolve over time:
- Build, train and develop a new team in managing the external reporting process for the Traded Risk function.
- Manage the completion process for the Traded Risk related commentary and collation of supporting schedules for the Group Interim and Annual Report Accounts and Pillar 3 disclosures within strict deadlines;
- To drive changes, as necessary, to the external reporting process for new accounting and regulatory reporting requirements, and ensure any risk and opportunities are clearly communicated to the senior management team in a timely manner alongside recommended course of actions;
- Work with Finance and regional Traded Risk teams to scope out the new data requirements and the most effective collection mechanism;
- Ensure SOX compliance and appropriate documents are in place.
Key Accountabilities
- Manage the initial migration of work from Finance and the ongoing commentary and backup production process. Ensuring high quality of outputs and within strict deadlines.
- Proactively look to engage the relevant teams within Risk, Finance and Global Businesses on key topics of concern which may affect the Group’s external disclosures.
- Good understand of: group financial consolidation process, IFRS and Regulatory reporting concepts, impact of acquisitions and disposals and changes in external inputs such as foreign exchange and interest rates.
- Strong planning management of all elements of the financial disclosure process impacting credit risk sections of the interim and annual report and accounts and Pillar 3.
- Drive complex and multi-facetted project work and provide leadership to ensure project delivery is on time and meets the stakeholder requirement.
- Lead, guide and support the virtual teams that supports the Global WMR Traded Risk Function in proving timely and value add commentary and analysis.
- Leadership over all regulatory and compliance matters and the management of operational risk. Ensuring clear operational procedures established, documented and complied with by all.
- To continually reassess the operational risks inherent in the process, taking account of changing economic or market conditions, legal and regulatory requirements, operating procedures and practices, management changes, etc.
Requirements
- Recognised relevant professional business or finance qualification (ACA/ACCA/CIMA preferred), post qualification work experience and prior experience of Traded Risk.
- Strong finance disclosure operational process improvement background with a track record of success;
- Good knowledge on IFRS and Regulation Standards impacting external disclosures desirable;
- Exceptional drive and commitment; ability to work and thrive in a fast changing, results driven environment; and proven ability in handling competing priorities;
- Excellent planning and management skills, ability to delivery high quality outputs in immoval deadlines;
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