VP, Rates Independent Submission Review
Key Responsibilites:
Strategic Progress - Developing and delivering strategic goals
• Strategic Planning: Driving forward the implementation of the control framework mandated by regulators to ensure that an electronic exception reporting systems is developed to identify improper or unsubstantiated submissions.
• Governance: Maintain an effective review of the key control’s are in place across the population of submissions.
Business Delivery and Financial Performance - Setting clear, measurable near term financial goals and deliverables
• Financial Delivery: Work with the rates setting review boards to ensure testing and reporting is completed in a timely manner (minimum weekly) so that thorough and informed analysis decisions can be made by these boards.
Responsibility to ensure that there is effective collaboration and consistency across submissions and geographical location.
• Efficiency and Cost Management: Promote consistent application of submissions testing and ensure that the processes are streamlined and efficient.
Customer Expectations - Meeting and exceeding customer and stakeholder expectations
• Client Focus: Establish close working relationships with submission teams, rate setting boards, Market Risk, IT, Operations Finance BUC - allowing for an integrated and proactive approach to the business’ requirements.
• Customer Delivery: Understand and clearly communicate submission analysis so that appropriate conclusions are reached based on applying policies.
• Reputation: Build, safeguard and uphold the reputation of RBS Group across all stakeholders: investors, press, politicians, public, staff, clients, etc.
Risk, Efficiency and Control - Setting clear goals, internal controls, risk management, business efficiency, improvement and effectiveness
• Line of Defence: as a second line of defence the functions need to:
? Establish and review key controls to ensure they are adequate and working appropriately.
? Establish and document operating procedures which include relevant controls
• Conduct Risk: To be accountable for ensuring you understand, uphold and promote the Conduct Risk standard pillars:
? Employee Conduct
Corporate Conduct
?Market Conduct
? Conduct Towards our Customers
• Operating Disciplines and Controls:
Produce review both daily weekly submission analysis to ensure that it is sufficiently robust to challenge the submission process
Working with a number of independent suppliers of information to source rates that can be used effectively in this analysis
• Business Continuity: Ensure that that process documentation (SOPs, EUDA) are maintained and kept up to date
People Management - Goal setting around team management, style, training and others
• Performance Management: Comply with HR performance processes by reviewing, agreeing and delivering on key objectives set for the year.
• People development: the role will involve running training sessions for our staff to ensure that they are up to speed with key products.
• Leadership: ensure you are creating a strong working environment where you are challenging, empowering and also helping to motivate yourself and the other members of the team. Help to develop a culture which puts customers and people at the heart of the business and promotes good control management.
• Personal Development: Gain extensive market and theoretical knowledge of both the trading desks that reference these submissions and the underlying markets rate that is used to set these rates to enable strong independent anslysis.
Experience:
Essential
• Has a strong track record in valuations, product control, market risk or front office
• Has proven communication skills to senior management
• Self motivator with excellent interpersonal skills
• Have demonstrated a proven ability to identify and resolve issues.
• Creative, practical and reliable
• Able to work under pressure and meet tight deadlines
• Ability to work efficiently as part of a team and take on others ideas/issues and incorporate them into a solution
Desirable
• Preferable to have experience working within a control function.
• Strong understanding of FX and rates derivatives
• Strong understanding of funding markets
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