OakNorth Bank - Regulatory Reporting Manager

About OakNorth

OakNorth is a challenger UK-based bank established and managed by Rishi Khosla and Joel Perlman, previous co-founders and promoters of Copal Amba, a 3,000 employee company which was acquired by Moody's Corporation in 2014. With a loan book for approximately - 300 million and offices in London, Manchester and India, OakNorth is backed by an investor group with deep experience in funding and building innovative financial services companies. The company has secured a - 66 million investment from India's largest non-bank SME lender, Indiabulls and is poised for excellent future growth.

OakNorth supports small and medium sized enterprises, with a particular focus on helping fast growing entrepreneurial businesses realise their potential. OakNorth combines technology and traditional lending typically enjoyed by large corporates, to provide SMEs with a suite of financing solutions that they don- t currently have easy access to, whether in the form of working capital finance or term lending.

OakNorth Global Private Limited (- ONGPL- ) has been set-up with a view to facilitate the growth of OakNorth Bank.

ONGPL is looking for experienced regulatory reporting manager with key technical experience in Standardised approach for credit exposure risk weighting and reporting under Basel 3/ CRR regime. Based out of Gurgaon office

Job Responsibilities

Regulatory reporting requirements for OakNorth Bank and opportunities in this role:

- OakNorth Bank (the - Bank- ) is a new fast growing bank in the UK. While the balance sheet is less complex than larger banks, the Bank is subject to full suite of regulatory returns as applicable to CRDIV firms in the UK and is also required to submit PRA/FCA returns and Bank of England (BOE) returns. Therefore learning all the regulatory returns across capital, liquidity and leverage is the key opportunity in this role.

- The Regulatory reporting team also supports the treasury reporting and therefore the opportunity to learn about daily liquidity management.

- The Bank's products are diversified and a number of new product launches continue- the candidate will be driven to research regulatory impact and provide inputs into new product development.

- We are a small team and therefore the role offers opportunity to closely work with individuals across all levels, teams and locations and to build the team as the Bank grows.

The Regulatory Reporting team:

- The current regulatory reporting team is a small team (we are looking at a strength of 2-3 people for the current year).

- The candidate will report directly to the CFO/Director of Finance and Control in UK. Locally, they will work with and possibly supervise 1-2 more staff as well- however, the local reporting structure will depend on the experience of the candidate identified as appropriate for the role- the candidate must be flexible with reference to this.

Desired Skills

Technical experience: The key technical experience in this role is related to credit risk and capital adequacy reporting (exposure classes, risk weighting etc- refer details in Section II below). The candidate will also be responsible for a number of other returns (details in Section II below) and will be expected to learn those on the job.

Key skills expected from the candidate: We expect that the candidate is a self-starter and is able to:

- adopt to a fast changing, flexible working structure rather than being driven by instructions and hierarchies

- read and understand Basel 3/ CRR / FSA and BOE guidance and learn new reports by investing own time and effort and act as maker/checker for the reports

- spend time learning and maintaining the regulatory reporting system to ensure all setups are correct and the regulatory reporting output is accurate

- challenge and question and not wait for instructions

- exhibit a control mind-set: cross check, build validation and cross validations, think through the impact

- improve processes and standardise them as much as possible for a growing bank

- independently and effectively interact with confidence across teams (finance, credit risk, project, IT, operations, compliance), across jurisdictions (UK and India) to ensure all activities impacting regulatory reporting are executed efficiently and timely

II. Detailed Key Responsibilities / Accountabilities

1. Critical: Ownership of COREP returns for: Own Funds, Risk exposure reporting, Risk weighting under Standardised approach: Experience in and ability to interpret Basel 3/ CRR regulations associated with Credit risk exposure classes, risk weighting, credit risk mitigation, large exposures related guidance is critical for this role. [Specific returns applicable include CAPITAL ADEQUACY (CA) CA1, CA2, CA3, CA4; CREDIT RISK (CR): CRSA, CRGB; LARGE EXPOSURES (LE): LE limits, LE1, LE2]

2. This role is also responsible for a number of other returns (listed below). While prior experience is not necessary as training will be provided, awareness of the returns will be advantageous.

Asset Encumbrance related returns.

Liquidity related returns: NSFR, LCR, FSA047/048, FSA017, ALMM

Balance sheet related returns: FSA001, 002, FSA015; BT and ELS (BOE returns)

A host of new returns become applicable from 2017, which the candidate will be expected to prepare/review and submit.

Additional reporting: Ownership of monthly capital adequacy calculations and reporting and daily liquidity reporting, metrics and early warning indicators; Responsible for preparation of treasury reporting, including liquidity reports and ALCO (Asset Liability Committee) packs.

3. Troubleshooting, Analytics and reconciliations: Proactive identification or issues and working on resolution using analytical and technical skills; Reconciliation of full balance sheet and profit and loss accounts with the Regulatory Reports; Performing detailed analytical reviews and commentary on movements in capital usage and monitoring versus internal limits.

4. Responsible for maintaining a robust control environment over the regulatory reporting process.

5. Provide inputs into Pillar 3 disclosures preparation, Individual Capital Adequacy Assessment (ICAAP) and Individual Liquidity Adequacy Assessment process (ILAA).

Regulatory developments

6. Responsible for tracking, monitoring and summarising new regulatory papers/ consultations/ guidance issued by the Bank of England, PRA/FCA, EBA and ensuring that the impact is understood and updates provided to the management for further action or noting. Work closely with the CFO/Director of Finance and Control and provide input into internal policy forum discussions regarding interpretation of regulations and guidance.

Project and systems management

7. Responsible for ensuring early involvement in new product development, inputs from regulatory calculations and reporting and working closely with IT and Project team to ensure that all regulatory reporting is accurate.

8. Work closely with the software vendor for any updates to the regulatory reporting software.

Individual leadership and team skills

9. The candidate must be confident in dealing with senior members cross function and cross locations

10. From time to time it will be necessary for the successful candidate to perform tasks outside the immediate job scope outlined above, as deemed appropriate by management

ACADEMIC QUALIFICATIONS

1. Good academic background: Degree 2:1. Qualifications - CA/MBA/CFA/FRM/PRM/ACT - will be preferred.

2. Prior experience in Banking environment is essential.