Manager Regulatory Reporting , Finance
- Newark, NJ, USA Newark NJ US
- Permanent, Full time
- Standard Chartered Bank
- 23 Apr 18 2018-04-23
This position is responsible for assuring the accuracy and completeness of US regulatory reporting activities of SCB in the Americas. This position will be responsible for preparation and submission of financial filings required for companies regulated by the Federal Reserve. This position will also help transition the Company's regulatory software (REG-Reporter) to meet current and approaching regulations while documenting business-as-usual reporting processes to comply with FED requirements.
This role requires experience and understanding of GAAP, with understanding of IFRS, in relation to reporting principles. The major functions of the position include the preparation, review and analysis of the regulatory reporting requirements and preparation/maintenance of desk instructions for several banking entities in accordance with Federal Reserve Bank rules and regulations, as well as the Basel frameworks, review and analysis of month-end schedules, interface with Operations, the Front Offices and Controllership, and assisting with other regulatory reporting requirements as they arise and special projects.
1. Prepare, review, and analyze regulatory reports
2. Responsible for the preparation of analytics ensuring that regulatory report submissions are robust and accurate
3. Prepare responses to be submitted to the Federal Reserve Bank to address queries about reporting and variances identified by the Regulator
4. Regulatory Reporting Department liaison in directing the efforts of and inquiring of FSSC in the preparation of US regulatory reports
5. Complete remediation and restatement work for any returns requiring resubmission
6. Review and document procedures and ensure desk operating instructions and procedures are up-to-date at all times
7. Responsible for reviewing the analysis of various general ledger accounts to obtain information (data mine) as necessary to prepare the regulatory report and acting as liaison with the various accounting groups within Finance
8. Work independently with various internal staff (i.e. compliance, legal, audit, and operations) and external constituencies (i.e. auditors, consultants and regulators) respond to regulatory queries and coordinate dissemination of financial queries as needed
9. Facilitate corrections to the ledger as they affect or impact regulatory reporting entities, working with Controller to establish proper controls to mitigate reoccurrence working to resolve mapping issues
10. Cross-training FSSC or local support staff to insure sufficient backup support exists for all regulatory functions
11. Assist in the development and testing of automated systems used in regulatory reporting insuring mapping TP to GL and regulatory reports are aligned and accurate
12. Provide quarterly variance analytics and research explanations
13. Prepare and work papers supporting all reportable information
14. Review and new or updated reporting requirements, and implement or update respective reporting processes
People and Talent
Lead through example and build the appropriate culture and values. Set appropriate tone and expectations from team members and work in collaboration with risk and control partners.
Review other team members' work as appropriate.
The role requires the ability to build analytic capacities and challenge underlying perceptions and understanding of client ledgers, and report key findings and make recommendations to management.
Individual contributor as it relates the effectiveness of the Group's arrangements to deliver effective governance, oversight, and controls in the business.
Awareness and understanding of the regulatory framework in which the Group operates and the regulatory requirements and expectations relevant to the role.
* Financial Reporting - Financial results reported to the regulator
* Operations - Key data mapping that supports the validity of regulatory reporting
* Financial Systems - Mapping of TP data to Reg Reporter
* Compliance - Interpretation of and consultation on regulatory requirements
* Group Internal Audit - Sharing on validation audit results and coordination in reviews
* Regulators (FED, Treasury, NYDFS, etc) - Replies to inquiries
* Must have exceptional analytical skills and the standing and personal qualities to interact effectively with senior industry figures.
* Display exemplary conduct and live by the Group's Values and Code of Conduct.
* Take personal responsibility for embedding the highest standards of ethics, including regulatory and business conduct, across Standard Chartered Bank. This includes understanding and ensuring compliance with, in letter and spirit, all applicable laws, regulations, guidelines and the Group Code of Conduct.