Regulatory Change Lead at Standard Chartered Bank

JOB SUMMARY:

The Regulatory Change Lead will implement regulatory change management incorporating process automation and direct the RDARR compliance for Country Finance. Key deliverables are:

• Compliance with Prudential Authority (PA) rules, regulations and directives for Bank supervision and reporting is achieved.
• Drive automation with Global Finance Services.
• Implementation of Risk Data Aggregation and Risk Reporting for Finance. 

RESPONSIBILITIES:

Business:

RDARR:

• Analysis of the Group’s BCBS239 requirements against South Africa’s current state regarding Governance, Risk Reporting, Data Documentation, Data Quality and Infrastructure.
• Lead initiatives in Finance relating to process and governance for risk reporting.
• Review of risk data aggregation and reporting process and documentation to ensure alignment with BCBS 239 principles.
• Lead the annual self-assessment exercise for BCBS 239 to be in line with the Group and local approach and timelines.
• Ensure all high-quality evidence of compliance (EoC) for BCBS 239 are produced in a timely manner to support compliance assessment.
• Work closely with upstream business functions to ensure that upstream data flows are being documented.
• Assess the materiality of the upstream business functions in terms of the in-scope data flows.
• Escalate, where appropriate, to relevant business functions when material delivery is impacting regulatory or business commitments.
• Run automation project for daily, monthly, quarterly, semi-annual and annual BA returns in adherence to the prescriptions in the regulations. Long term automation scope would include Pillar 3. 
• Prepare the Finance Regulatory Remediation programme.
• Prepare updates for the Finance and Non-Financial Risk Committees on compliance and implementation of Data Governance.
• Represent Finance in Data Quality Governance forums for all relevant Finance Processes (where material Data Quality Risk is identified).
• Present updates into the Finance Regulatory Remediation Programme on progress against the overall Data governance Plan.
• Provide consolidated updates into BCBS239 Programme and Non-Financial Risk Committees.

Regulatory Change:

• This role will assist with the implementation of Basel 3.1 reform, participating in the BCRS testing cycles. Analyze the results and provide justification for discrepancies. 
• Assist with the Business-as-Usual implementation of Basel 3.1 working to embed expertise via adding other business functions for upstream and downstream impact. 
• Drive development of the additional regulatory projects for example the BA900 and other requirements.
• Assist with the Pillar 3 disclosure change to align with the Basel 3.1 reform. 
• Assist with the implementation of the new Umoja Project to facilitate new submission platform change. 
• Management of new End User Computing Requirements and governance requirements relating to the new Basel 3.1 reform. 

Processes:

RDARR:

• Lead the initiatives for adopting Data Quality Management (DQM) standards and Data Quality (DQ) controls into risk reporting.
• Ensure integrity and quality of DQM Framework artefacts produced by Finance.
• Track and monitor upstream and downstream dependencies working with the relevant Data forums and Non-Financial Risk Committee (NFRC).
• Ensure data control weaknesses, incorrect data sources and material data quality issues are quantified, measured and tracked to resolution.
• Identify and raise data quality issues arising on the Risk Reporting platform or database and ensure its appropriate management and resolution in a timely manner.
• Review of period Data Quality dashboards and issues list to resolve Finance data quality issues.
• Provide strategic support and leadership to achieve the ICS BCBS239 project objectives.
• Define and Maintain the Finance Business Glossary.

Regulatory change:

• Collate the ask from a South Africa perspective in terms of Critical Data Elements, Reporting Requirements and share with Aspire Delivery Team and Basel 3.1 Project roll out team.
• Project support role will also include data gathering, validation and conduct testing for underlying change initiatives for both Aspire and Basel 3.1.
• Work with different stakeholders to continuously improve process controls and efficiency of delivery of services and Updating DOI for BAU landing of Basel 3.1.

People & Talent:

• Develop training and awareness programme for Data governance across the Finance team.
• Build knowledge in the Finance team to run and manage the Data Governance Process.
• Develop training initiative for SQL training. 

Risk Management:

• Report any potential operational risks. 
• Identify and report all exceptions on non-compliance with standard controls.
• Identify and report all weaknesses inherent in the standard controls.
• Assist in reconciling finance owned accounts and provide evidence to Financial Controls Manager.
• Contribute to the establishment of technical expertise/ knowledge base for operating control assessment.
• Provide insight and guidance on the interpretation of reported exceptions/analytics outputs so that appropriate actions can be taken by the Finance function.
• Ensure compliance with relevant operational risk controls for the Finance Reporting Process.
• Comply with Group’s data standards and information security policies.
• Manage and track declared internal and external milestones and provide accurate and transparent status updates. 

Process – Infrastructure Management:

• Review infrastructure adequacy for Risk reporting in normal and crisis situations and propose initiatives to address any identified gaps.
• Maintain EUC and manual intervention register involving critical risk data.
• Documentation of Business Impact Analysis (BIA) and Department Business Continuity Plans (BCP) for Finance Risk reporting business unit.
• Adoption and usage Group standard tools report distribution and metadata management.

Process – Data Quality and Data Documentation:

• Lead the initiatives for adopting Data Quality Management (DQM) standards and Data Quality (DQ) controls into risk reporting.
• Ensure integrity and quality of DQM Framework artefacts produced by Finance.
• Track and monitor upstream and downstream dependencies working with the relevant Data forums and Non-Financial Risk Committee (NFRC).
• Ensure data control weaknesses, incorrect data sources and material data quality issues are quantified, measured and tracked to resolution.
• Identify and raise data quality issues arising on the Risk Reporting platform or database and ensure its appropriate management and resolution in a timely manner.
• Review of period Data Quality dashboards and issues list to resolve Finance data quality issues.
• Provide strategic support and leadership to achieve the ICS BCBS239 project objectives.
• Define and Maintain the Finance Business Glossary

Governance:

• Present updates into the DQ Governance on progress against the overall Data governance Plan.
• Provide consolidated updates into BCBS239 Programme and Non-Financial Risk Committees.

Risk Management:

• Report any potential operational risks. 
• Identify and report all exceptions on non-compliance with standard controls.
• Identify and report all weaknesses inherent in the standard controls.
• Assist in reconciling finance owned accounts and provide evidence to Financial Controls Manager.
• Contribute to the establishment of technical expertise/ knowledge base for operating control assessment.
• Provide insight and guidance on the interpretation of reported exceptions/analytics outputs so that appropriate actions can be taken by the Finance function.
• Ensure compliance with relevant operational risk controls for the Finance Reporting Process.
• Comply with Group’s data standards and information security policies.
• Manage and track declared internal and external milestones and provide accurate and transparent status updates. 

Regulatory & Business Conduct:

• 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.
• Collaborate with Finance team to achieve the outcomes set out in the Bank’s Conduct Principles: Fair Outcomes for Clients; Effective Financial Markets; Financial Crime Compliance; The Right Environment.
• Effectively and collaboratively identify, escalate, mitigate and resolve risk, conduct and compliance matters.

Key stakeholders:

• Regulatory Reporting Manager
• Head of Regulatory Reporting 
• Financial Controller 
• Business Finance 
• Global Finance Services 
• Treasury Markets
• Group LCR teams
• South African Reserve Bank 
• External Auditors
• Head of Data Management, Finance
• BCBS239 programme team
• Business COO’s & Business Leaders (Data providers and data consumers)
• Chief Financial Officer 
• Chief Operation Officer 
• Risk, Audit and Compliance (Risk also as partners in data sourcing / DQ / BCBS 239 etc)
• External Consultants / Agents
• Regulators

Other Responsibilities:

• Embed Here for good and Group’s brand and values in South Africa Finance Team; Perform other responsibilities assigned under Group, Country, Business or Functional policies and procedures.

Our Ideal Candidate:

• Recognised qualification in Accounting/Banking such as CA(SA) or studying towards a qualification in Accounting and Finance. 
• At least two years’ work experience in a busy financial reporting department of a commercial organisation.
• A sound knowledge of Basel 3 regulations and statutory requirements and all-round Banking experience.
• High level of experience in working with computerised Accounting/Banking systems.         
• Good communication and interpersonal skills.          
• Ability to work in a busy and strenuous environment.
• Good understanding of good banking practice. 
• An eye for detail and accuracy with a good analytical capability.
• Advanced Excel knowledge and advanced level of computer literacy is required.
• SQL knowledge is an added advantage.
• Proven Project Management experience in financial services industry is an advantage.

Role Specific Technical Competencies:

• Project and Data Management
• Finance systems architecture
• IFRS
• Financial Controls
• Regulatory banking returns / regulatory reporting
• Capital/Liquidity calculations