F&C- Regulatory Reporting Director - Market Risk

Who we are

United by a sense of purpose towards our customers – to be a trusted partner for the long-term – and our universal banking platform in EMEA, SMBC Group has an international growth agenda and award-winning products, meaning we provide exciting opportunities to work on a diverse range of projects and initiatives. We deliver a full suite of corporate finance products and solutions to our customers as well as investment banking and advisory services, and a range of innovative solutions in global capital markets. Read on to find out how you could enhance your skills and gain valuable experience, by joining us to support our clients transition to a sustainable future.

Role Summary

The purpose of the role is to perform a Subject Matter Expert (“SME”) role in Market Risk RWA reporting for SMBC UK operations, including:

• SMBC Bank International (“SMBC BI”)’s Sales & Trading Vertical’s (“S&T”) Market Risk RWA calculation, reporting and monitoring; this includes the upcoming new Market Risk rules under FRTB
• Assessing the impact from new products on Market Risk RWA and internal metrics
• Regulatory reporting production for UK entities in scope - SMBC BI, SMBC Nikko Capital Markets Limited (CM Ltd.
• Internal market risk metrics reporting production for UK entities
• Managing stakeholder relationships and communications in relation to liquidity regulatory reporting for these entities
• Acting as a driver of change, working closely with Change functions to both enhance the liquidity function and comply with changes in reporting requirements

Business Area

The EMEA region comprises a number of SMBC branches, and separate legal entities in London and Frankfurt.  Each entity has a number of regulatory reporting requirements.

In the UK, SMBC Bank International PLC (“SMBC BI”), SMBC Nikko Capital Markets Limited (“CM Limited”.) and SMBC London branch are required to submit regular prudential, statistical and risk-related reports to local regulators (PRA, FCA and Bank of England).  These cover a variety of reporting disciplines including balance sheet, Liquidity, Credit Risk and Large exposures.  In addition to external reporting the Bank must also monitor key ratios on a daily basis, and the reporting includes COREP (including Own Funds, Large Exposures and Liquidity submissions), Pillar 3, PRA/FCA Prudential and Bank of England Statistical Returns. 

Scope

Regulatory Reporting team in London consists of approximately 19 staff.  The team is responsible for both the internal management information for the daily and monthly monitoring of capital and liquidity adequacy and large exposure, as well as production and submission of the regulatory returns to the regulators, including the Bank of England, PRA and FCA.  The team is also involved in SMBC BI’s annual ICAAP, ILAAP and RRP process, CM Limited’s annual ICARA process, as well as responsible for compiling the Pillar 3 disclosure documents for SMBC BI (quarterly, semi-annually and annually) as well as the IFPR disclosure document for both CM Limited and DP Limited annually.

Key stakeholders which the team work closely with include:

• Senior Management – Present management information to support oversight responsibilities
• Front Office and Credit Department – SME advice on regulatory capital requirements associated with Sales & Trading transactions
• RMD – Collaborate with RMD on their independent reviews of regulatory reporting, as well as on the ICAAP, ILAAP, RRP and ICARA processes
• STPD Planning – Collaborate around Front Office communications, monitoring approved commitments and pipeline of future transactions
• OAD – Provide SME advice on appropriateness of booking processes
• IT – Interaction on change programmes and BAU production support
• Compliance and STPD Legal – Interactions with the regulator and compliance with legal requirements
• SMBC Bank EU Regulatory Reporting team – Collaboration with the counterparts in Bank EU to ensure consistent treatment where there are common rules in both the UK and EU and share best practice

This role is primarily responsible for monitoring the daily and monthly SMBC BI Market Risk RWA (as part of the capital ratio monitoring), quarterly production of SMBC BI’s market risk COREP templates as well analysing the Market Risk RWA impact from new products.

Key Accountabilities Responsibilities

• Manage the internal Market Risk RWA monitoring, and the associated management information, for SMBC BI, on a daily and monthly basis
• Provide commentary to senior management on material movements in Market Risk RWA in the context of business drivers and movements in risk sensitivities
• Manage the quarterly production of the COREP Market Risk templates, and the associated management review materials (explaining material movements in the context of business drivers and movements in risk sensitivities), as well as presentation to the CFO and CRO of SMBC BI
• Be responsible for Pillar 3 disclosures of SMBC BI relating to Market Risk RWA
• Assess the Market Risk RWA impact from new products by working closely with the Front Office, Risk Management and other relevant stakeholders; lead the implementation of new/revised Market Risk RWA calculation for new products where such implementation is required
• Provide support and input into the ICAAP process as required from Pillar 1 Market Risk RWA perspective
• Manage the quarterly production of FINREP returns for SMBC BI

Knowledge, Skills and Experience

• Bachelor’s degree or equivalent required
• Expert knowledge and experience of PRA regulatory rules and reporting requirements for market risk (including FRTB )
• Extensive knowledge and exposure to banking and capital markets products essential
• Strong communication and influencing skills required
• Strong experience in delivering financial or risk reports under pressure without compromising on accuracy and attention to detail required
• Proven experience in condensing complex risk and financial data into reports for senior management consumption required
• Experience in communicating complex change requirements to key stakeholders required
• Strong numerical and financial skills required
• Culturally aware

Competencies

What we offer

For all the expertise and experience you bring to help us make a difference, it’s only sustainable if we support you to build your career and be your best self so we offer competitive company benefits, centred around promoting positive well-bring and work-life balance. We also believe in fostering a diverse and inclusive work environment, where all team members perspectives and contributions are valued. Initiatives in place which promote a diverse and inclusive culture and healthy work life balance include hybrid working, Sport & Social Clubs and Diversity and Inclusion networks.

As an employee of SMBC you have access to a host of both useful and exciting benefit offerings. See below some of the benefits on offer to you:

• Hybrid and flexible working 
• Competitive paid leave days
• Benefits to support your physical wellbeing, including private medical insurance and life and invalidity insurance 
• Various policies to support your mental wellbeing, including a robust behavioural health network with counselling and coaching services  
• Access a wide range of learning and development opportunities and career progression opportunities 
• Ambitious remuneration package

So, if you like a challenge and want to continuously grow and develop in a role where you will be supported along the way by a dynamic and diverse team, apply today!!