We are now recruiting for a new finance opportunity to work for a highly successful global corporate and investment bank with offices based in the City/London (although currently most of their employees are working remotely/from home). Their Regulatory Reporting team are ideally looking for a fully-qualified (ACA/ACCA/CIMA) accountant with a min. of 18-24 months of Bank of England statistical reporting experience. Applicants must have good knowledge of statistical and prudential reporting requirements with experience of managing calculations and reporting of key ratios. Candidates should ideally be available on a 1-month notice period or less.
- Ideally a qualified candidate (ACA/ACCA/CIMA) with regulatory reporting experience from a banking environment (our client will also consider candidates at Finalist level)
- Must possesses Bank of England reporting experience
- A process improvement mindset with good communication and stakeholder management skills
- 1-month notice period or less
- Well-rounded skill-set and ability to learn new skills within regulatory reporting
- To prepare and deliver all statistical returns for the Bank to the Bank of England.
- To prepare and submit some of the the Bank's prudential returns to the PRA / FCA
- To ensure all the above returns are prepared correctly and submitted in a timely manner
- To monitor and check that all regulatory changes are reflected within all relevant reports.
Objective of team and function:
In the UK, the Bank's London branch is required to submit regular prudential, statistical and risk-related reports to local (PRA / Bank of England) and European (EBA) regulators. 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.
The role is responsible for the production of Bank of England Statistical regulatory reports and data submitted to the regulators.
Key objectives include the accurate and timely production of the Bank's regulatory Statistical returns and information to support management information
- Some of the information from these statistical returns will be used to calculate the entity’s monthly Cash Ratio Deposit with the Bank of England, as well as form part of the calculations to determine the amount of Annual Prudential Regulatory Fees to pay to the PRA.
- Some of the figures from Statistical reports will go towards the published statistical figures which the Bank of England produce and make publicly available on a quarterly basis.
- Involvement in preparation of COREP reports
- Produce, reconcile and review all of the Bank's statistical reports to ensure the accuracy of reporting and compliance with the Bank’s procedures.
- Answer any queries which either the Bank of England or the PRA may raise, either through investigations or by asking Treasury or the relevant Account Officer for their input.
- Preparation of COREP reports.
- Maintain the access levels of both systems.
- Check that customer information is accurately reflected within the system.
- Preparation of reports relating to Sterling Overnight Index Average benchmarking requirements.
Knowledge / Skills / Relevant Experience Required:
- Bachelor’s degree or equivalent
- Industry experience in working for a banking institution
- Good knowledge of statistical and prudential reporting requirements with experience of managing calculations and reporting of key ratios
- Knowledge and exposure to banking and capital markets products from a credit risk perspective
- Proven ability to work with large amounts of financial and risk data
- Experience in delivering financial or risk reports under pressure without compromising on accuracy and attention to detail
- Experience in communicating complex change requirements to key stakeholders
- Change management / implementation experience
- Knowledge of local statistical reporting returns
- Time-management skills to work under pressure to tight deadlines
- Strong numerical and financial skills with the ability to interpret financial information
- People-management skills (ideal but not essential)