Regulatory Reporting Accountant

CIBC World Markets Inc.; City of London; On-site; GBP 70,000 - 90,000; Full time

Job summary

A leading financial services firm is seeking a Director, Regulatory Reporting Accountant to join their UK Finance Shared Services team. The role involves overseeing regulatory compliance, engaging with key stakeholders, and assisting in the management of regulatory returns. Applicants should hold an accounting qualification and have a strong understanding of derivative products and regulatory reporting within a banking environment. The position offers a full-time employment opportunity with a mid-senior level designation.

Qualifications

• 5+ years PQE in wholesale banking environment.
• Experience with SACCR and FRTB.
• Self-motivated and able to work independently.

Responsibilities

• Assist with regulatory returns for European entities.
• Ensure compliance with local and European rules.
• Engage with internal and external stakeholders.

Skills

Qualified Accountant (ACA/ACCA/CIMA or equivalent)

Strong knowledge of derivative products

Experience interpreting regulatory rules

Strong working knowledge of Microsoft Excel

Experience in data automation

Good time management and prioritisation skills

Education

Qualified Accountant (ACA/ACCA/CIMA)

Tools

Alteryx

Tableau

SQL

Job description

Overview

Director, Regulatory Reporting Accountant sits within the Regulatory Reporting Team in UK Finance Shared Services. The candidate will report to the Executive Director, Head of Regulatory Reporting, UK Finance.

The Finance group provides financial services to CIBC’s businesses through effective governance and decision support processes. These services include financial, management and regulatory reporting, maintenance of accounting records and internal controls, financial analysis and planning, tax planning and compliance, treasury, middle office, global sourcing and payment processing, regular reviews of business line performance, corporate real estate and liaison with CIBC’s investor relations.

The UK Finance group provides expert information, advice and decision-making support to facilitate the success of the Europe and Asia Pacific CIBC Capital Markets, Treasury and Wholesale Origination businesses. The UK Finance group provides four key services to our clients: daily and monthly management reporting, regulatory reporting, statutory reporting, and data management. These services are scalable and flexible across the board to meet the evolving needs of the business, and support business growth and expansion.

Responsibilities

• Assist with the completion of regulatory returns for the various European legal entities, ensuring reporting to regulators is in accordance with local and European rules and timelines. Focus on prudential returns such as COREP, SACCR and FRTB requirements.
• Assist with the analysis and reconciliation of derivative products. Review reporting processes and manual interventions and seek ways to eliminate manual elements and to automate and streamline reporting through tools such as Alteryx, Tableau, Power BI to increase capability.
• Review regulatory rules and policy notices in respect of prudential returns, assess impact and advise of applicable changes to reporting requirements.
• Work with Regulatory Technical and LDW teams to implement changes to support new reporting guidelines, including CRR3 and new product initiatives.
• Critically evaluate and challenge existing reporting basis and interpretations to ensure robust returns. Ensure procedures and assumptions are kept up to date and properly documented.
• Ensure all internal regulatory reporting requirements are met, including provision of regulatory data to the Regional CFO, and Board and Management Committees.
• Support completion of the ICAAP and Pillar 3 documents for local entities, ensuring full compliance with reporting regulations, timely completion and high standard of output.
• Coordinate annual review of regulatory policy statements for presentation and approval by Regional Senior Management, ensuring full compliance with underlying regulatory requirements.
• Act as Regional SOX Officer, and ensure SOX testing, documentation and reporting requirements are met.
• Provide cover and support for Head of Regulatory Reporting as required, to facilitate continued career development and succession planning.
• Engage with internal and external stakeholders, particularly Luxembourg Finance, Financial Control, Internal Audit and External Audit.
• Support Service Level Agreement with Luxembourg and ensure deliverables are provided within the set timelines.
• Support record retention process to ensure requirements are met.
• Participate in projects and initiatives as they arise, as directed by Head of Regulatory Reporting.

Required knowledge / skills / attributes

• Qualified Accountant (ACA/ACCA/CIMA or equivalent) with at least 5+ years PQE in a wholesale banking environment (or equivalent).
• Strong knowledge of derivative products such as swaps, options and forwards.
• Experience interpreting regulatory rules and requirements in a banking environment, including working knowledge of SACCR and FRTB.
• Strong working knowledge of Microsoft Excel; VBA and SQL skills are highly beneficial.
• Up-to-date knowledge of accounting standards relevant to banking entities.
• Extensive knowledge of regulatory reporting software (e.g. OneSumX, Lombard Risk) and interfacing requirements to trade booking systems.
• Experience in data automation (e.g. Alteryx) and data visualisation (e.g. Tableau) tools is ideal.
• General ledger and source system understanding is beneficial.
• Willingness to challenge existing assumptions and approaches to ensure robust outputs.
• Good time management and prioritisation skills, with ability to work under pressure and to tight deadlines.
• Self-motivated and able to work independently and within a team.
• Proactive, with strong communication skills and ability to interpret and explain rules and standards to both specialists and non-technical stakeholders.
• Ability to analyse processes and recommend improvements as part of the Finance culture of Continuous Improvement.
• Strong written skills with the ability to enhance existing documents and procedures.

Seniority level

• Mid-Senior level

Employment type

• Full-time

Job function

• Finance and Accounting/Auditing

Industries

• Banking and Financial Services