VP Ops Regulatory Risk and Control
The EMEA Operations Regulatory Control team is part of the Global Markets Operations function and ultimately ensures the appropriate governance and oversight of Regulatory Reporting (Client Assets and Transaction Reporting) for entities regulated by the UK Financial Conduct Authority. The team works with Operations line management to strengthen the control environment and improve control processes around Client Assets and Transaction Reporting and provide an independent assessment of related control and risk issues for senior management.
The overall team is ten people strong, 8 focussing on Client Assets and 2 on Transaction Reporting.
This role will be taking the lead on the Transaction Reporting side, helping to develop and build out the function and capabilties of the area further. The BAU element of TR sits within the business / product areas, so this role is looking at business ops risk and control and establishing a strong governance process, challenging the current status quo and testing that's been done and addressing the remediation and resolution of issues. As a senior individual in the business is will be essential to drive the escalation process, drawing in Compliance and their specific expertise.
This will involve looking at areas such as:
· Organising and supporting the Transaction Reporting Operating Group in its quarterly meetings and oversight processes.
· Establishing a tracking mechanism for the ongoing management of Transaction Reporting issues, projects and remediation activities across the firm.
· Managing the escalation process and ensuring timely resolution of any Transaction Reporting incidents, liaising with Compliance, Operations and Technology as required.
· Working with Compliance to understand Transaction Reporting regulations and develop an ongoing process for disseminating and tracking the implementation of regulatory changes within Operations.
· Working with Compliance to continuously enhance the online Transaction Reporting training.
· Working with Transaction Reporting stream owners to assess and continuously improve the Quality Assurance testing performed within Operations.
· Implementing a Quality Control framework to test Transaction Reporting processes for each reportable product, independent of the Operations teams.
Candidate Requirements:
This role requires a fairly varied skill set in order for the person to have a strong hold on the role and be able to grow and evolve the position and team over time to add more independent testing and quality controls.
· Risk and Control / Analysis skillset - the chosen candidate will need to have the ability to analyse control processed to identify key issues e.g. review control processes, map out key controls, identify control gaps and make recommendations. It would suit someone who has worked or established governance frameworks or even someone with an Audit background, if that experience is combined with business knowledge.
· Influence and engagement - this individual will need to be able to engage at a senior level and have the ability to influence outside of their direct team to facilitate changes to control and regulatory environment.
· Communication - Ability to deal and communicate at all levels within the organisation. Advanced written, verbal and presentational skills.
· Product Knowledge - General knowledge across all Global Markets product processes and control environment. This person needs to have front to back trade lifecycle knowledge ideally across a range of asset classes.
· Regulatory awareness - An understanding of the Transaction Reporting regulations are essential for this role. Whilst this person does not need to be a TR SME they need to be able to give guidance on the content.
This role ideally requires a senior VP and someone who has the scope to perform a much broader role. There is clear progression available to the right person. This is an urgent hire and they are keen to bring someone into role ASAP although will wait for the right person.
Leave a Reply
You must be logged in to post a comment.