VP - Regulatory Reporting - Bank

Context :

- IFRS 9 Financial Instruments is the most significant accounting change since the initial adoption of IFRS. It aims to replace IAS 39, which is currently applicable for financial instruments accounting. IFRS 9 has three important strands, namely Classification & Measurement, Impairment and Hedging. Of, this the Impairment is the most significant change as it entails a move from an Incurred Loss approach to an Expected Loss approach.

- This entails various activities around model development, calculation engine build out, data and systems interface and agreement on accounting treatment and related policies/processes. Similar to recent trends such as those noted in Basel III/CRD IV implementation, this requires a high level of Finance and Risk interdependency and is therefore being driven as a joint risk-finance implementation programme with strong visibility and sponsorship at the Board level.

- This role is focused on establishing and operating a Centre of Excellence to drive the production and analysis of Impairment related information, both from an accounting perspective and to facilitate enhanced risk management.

- Further, given its linkage to initiatives such as the RWA production and management and stress testing, this will from an operational level necessitate working closely with these streams and also leveraging off common data platforms, standards and utilities.

- Engage with key stakeholders in designing a robust and fit for purpose process to generate Impairment related data and metrics.

- Align with other workstreams such as RWA production and Stress Testing to provide inputs in building common data platforms and utilities.

- Lead and conduct User Acceptance Testing to drive consistency and efficiency.

- Review and validate data against expected quality criteria, log, investigate, escalate and resolve data quality issues

- Facilitate and review manual amendments, enrichments and overlays to ensure that the data is of the desired quality and initiate action to eliminate exceptions

- Analyse key changes and identify business drivers to facilitate analysis and commentary for group disclosures and to address market expectations/queries.

- Facilitate data sign-off by the CROs & CFOs

Skill Requirements :

- Strong data / systems background or a strong risk or regulatory reporting background is essential

- Advanced technical skills (MS Excel, and other systems) including experience in business intelligence tools

- Strong data mining and analytical skills, including hands-on experience in managing large volumes of data with a proven ability to interpret and comment on data movements

- A good understanding of the accounting standards and the concepts would be useful

- Understanding of the regulatory reporting requirements or Basel II credit risk calculations would be an advantage

Utpal