PERM - OAD - Trade & Transaction Reporting - Trade Support - Vice President

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

Is the next step in your career at SMBC Group EMEA? We’re looking for a Vice President to join our Trade and Transaction Reporting team.

This role will track and analyse regulatory communications and updates across EMEA regulators regarding all trade and transaction reporting regulation and updates including European Market Infrastructure Regulation (EMIR including Refit), Markets in Financial Instruments Regulation and Directives (MiFID/MiFIR II) and Securities Financing Transaction Regulation (SFTR)

In conjunction with assigned SMEs, determine the impact on the bank and document detailed technical business requirements to support new requirements and reflect any required changes to a) ensure the organisation remains compliant and b) to increase efficiency and reduce risk.

This role must communicate within a multi-disciplinary team, gain consensus for the best solution, and implement the required changes within the required timeframe and quality parameters. The individual will ensure that the business case, plans and control processes have sufficient detail and have evaluated the potential impact of the changes made, including a traceability matrix and will involve the appropriate staff or teams to help assess the impact, agree solutions, ensure high quality QA, testing and delivery of changes, including helping to resolve any issues.

Education, Skills & Experience

•           Educated to degree level

•           Experience of participating in regulatory driven and/or systems project teams.

•           Proven ability to work collaboratively to gain agreement and resolve conflict

•           Resilient to work under pressure in order to meet regulatory deadlines.

•           Able to work collaboratively in teams, analyse data and rapidly understand complex systems.

•           Strong interpersonal skills including ability to lead and motivate, set the vision for the project, gain team and organisational buy-in, anticipate and resolve conflict, negotiate and coach

•           Strong, effective communication skills both written and oral, including diplomacy in offering challenge.

•           An in depth understanding of trade and transaction reporting obligations.

Specialist technical skills

•           Able to produce gap analysis/requirements, workflows and technical requirement documents.

•           Working knowledge of EMEA regulatory requirements, the banking products it impacts and prior experience of providing regulatory analysis and business requirements documentation

•           Knowledge of EMIR, MIFIR &/or SFTR regulations considered highly advantageous.

•           Proven ability to analyse current and future regulatory requirements and translate them into practical implications for specific processes and systems.

•           Previous experience in assisting a Regulatory liaison team to manage regulator expectations for remediation of transaction reporting errors & back reporting

Business Area

Trade and Transaction Reporting Group

Position Description

The individual is accountable to the Trade and Transaction Reporting Manager and may be expected to present at the Trade and Transaction Reporting Senior Reporting Oversight Committee (TTR ROC) translating complex regulation and technical detail clearly and logically, explaining any implications or risks so that the committee can make effective decisions based on this input.

The role must work closely with the bank’s technology partners to ensure that market and regulatory changes are reflected accurately and in a timely manner. 

Accountabilities and Responsibilities

•           Present weekly at the team huddles

•           Track and analyse regulatory communications and updates across EMEA and work with the SMEs and end users to understand and document the practical implications for all associated systems and processes.

•           Concise ongoing update and revision of the all applicable Traceability Matrixes.

•           Communicate with internal colleagues to understand the current practise and processes of departments and the organisation, including liaising with EMEA offices to identify where change is required and to ensure compliance across the region

•           Oversee system changes and timescales required to introduce regulatory changes and ensure the correct governance of the change process

•           Work closely with the SMEs to appraise stakeholders of the potential impact of regulatory change on the service, function or system/s highlighting the options, impact and potential links between required changes on the existing infrastructure so that well informed decisions can be made

•           Communicate clearly within a multi-disciplinary team, gain consensus for the best solution and implement the required changes to maintain compliance with regulation and/or gain efficiencies. Ensure that the benefits of changes and recommendations are made clear to the relevant departments and to senior stakeholders and address any uncertainty and concern.

•           Detail the appropriate business requirements and regulatory technical specification to support any changes or new requirements to ensure the bank is compliant

•           Support and involve the appropriate staff and teams in testing and delivery of changes, including helping to resolve any issues.

•           Attend industry forums to horizon scan and stay aware of upcoming regulatory or market changes when needed

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!!