IFRS Business Analyst Investment Banking London recruitment

A Tier1 Investment Bank requires a Business Analyst with a good knowledge of IFRS standards (be it from a line or a change perspective) to join a group wide programme to ensure compliance with new regulatory rules and accounting standards

The business analysis manager will engage with all lines of businesses impacted to perform detailed assessments, GAP analysis and document business requirements for IFRS 13 and offsetting. The required tasks in 2012 are noted below.

* For valuation measurement impacted by IFRS 13, an assessment of the fair value measurement currently being used for all impacted areas (including large position liquidity adjustments on portfolio valuations, CVA / DVA on derivatives, Measurement of amortised cost financial instruments at initial recognition)

* For each impacted area, an assessment of changes that would be required for the valuation methodologies to align these to IFRS 13. If changes are required, a detailed business requirements document.

* For disclosures impacted by IFRS 13:

o A feasibility assessment of increasing the frequency of disclosures that are currently reported annually, but will need to be reported quarterly from 1.1.13.

o For new disclosures required by the standard, an assessment of the source data that is required, how the data would need to be captured and processed, including end to end ownership of the process.

* For Offsetting:

o An assessment of what is currently offset in the balance sheet and supporting disclosures.

o Analysis of how the existing offsetting arrangements will be impacted by the standard requirements, including the comparatives required (for 1 year).

* The deliverables expected from the business analysis manager will include:

o Detailed impact assessments and GAP analysis.

o Documented business requirements for each standard.

o Input in to the design and build of any required changes.

o Development of test plans to test the solutions prior to implementation.

In addition, the analysts will be expected to report on key issues, risks and manage dependencies.