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Transaction Reporting Consultant (EMIR) at eClerx

Transaction Reporting Consultant (EMIR)

eClerx London, Greater London Contractor

Transaction Reporting Consultant (EMIR)

Location: London, UK (with flexible option few days a week)

Hire Type: Fixed Term (1 year with possible extension)

Experience: Compliance and/or Regulatory / Risk Framework experience, specifically EMIR, but extending to MiFID, Dodd-Frank CFTC and SEC, and other G20 derivatives

Vertical: Financial Markets

Role Summary

This London-based role within the global CFCC Advisory Compliance team will be focused on ensuring adherence with EMIR trade reporting requirements for exchange-traded and over-the-counter derivative contracts as they are traded across Financial Markets Operations. A highly motivated and self-driven individual, you will join the CFCC Advisory transaction reporting compliance team working closely with the Global and Regional Compliance teams, Front and Middle Office, Regulatory Operations, Regulatory Technology, Legal, and other stakeholders to ensure compliance against our regulatory requirements.

The role will report to the Asia based Head, Transaction Reporting Compliance, CFCC Advisory. The successful candidate will be required to undertake the following:

  • Oversee transaction reporting regulatory horizon scanning primarily for the EU EMIR Refit and corresponding UK EMIR reformations.  Provision of insight, guidance, and interpretation of the current EMIR obligations to stakeholders
  • Develop an exhaustive Obligations Register for UK EMIR Article 9 trade reporting.  Document supplemental interpretations into a new integrated compliance management system, assist with mapping of the obligations and interpretations to operational and technological controls
  • Second-line oversight of all EMIR trade reporting obligations to manage the Bank’s risk, increase efficiency, and produce better business outcomes
  • Help the Compliance team develop their existing Target Operating Model and new Transaction Reporting Standard.  Familiarity with other transaction reporting regimes is preferred

Key Responsibilities

This is an opportunity to join an established Compliance team, focusing on trade and transaction reporting, with individuals currently located in UK and Singapore.  The successful candidate will be required to undertake the following responsibilities:

  • Conduct regulatory analysis, impact assessment and support the implementation of new and changing trade and transaction reporting regulation in an advisory capacity with a focus on EMIR Article 9 for the EU and UK
  • Develop an Obligations Register, document rules interpretation, and then review and assess whether appropriate first-line controls are established and adequate to fulfill these obligations and expectations.  The to assist first-line process owners with the development of controls for all
  • Provide timely and subject matter assistance to other Compliance teams when they liaise with regulators on issues identified within transaction reporting compliance e.g. outages, non-reporting of trades, or other regulatory breaches
  • Review essential management information to ensure identified compliance gaps are identified and remediated.  Provide Compliance training and supply advisory support to stakeholders where necessary
  • Participate in relevant internal and external (industry association) working groups
  • Able to demonstrate extensive experience and familiarity with trade and transaction reporting regulations across all our key regions (Europe, US, Asia)

Eligibility Requirements

  • Bachelor’s Degree preferred
  • Minimum of 10 years (based on band level agreement) prior Compliance and/or Regulatory / Risk Framework experience in Financial Markets
  • Strong knowledge and previous experience of market initiative regulations
  • Good knowledge of the trade and transaction reporting rules and regulations, specifically EMIR, but extending to MiFID, Dodd-Frank CFTC and SEC, and other G20 derivatives).  This includes familiarity with market best practice, emerging themes, and areas known to be subject to regulatory attention
  • Ability to understand and to interpret technical regulatory requirements as well as the capacity to build a detailed understanding of the groups trading systems and technology architecture
  • The proven executor of assurance initiatives including planning, analysis, identifying regulatory gaps, and action owners through to tracking of remediation
  • The expertise of data modeling with knowledge and the ability to interpret and collate both complex and unfamiliar data sets
  • Good presentation skills, including experience developing and delivering regulatory based materials
  • Ability to develop and enhance relationships across multiple stakeholders in various functional and geographic groups, including but not limited to FM businesses and Operations, Information Technology, Legal other Compliance teams
  • Excellent written English with experience of drafting policies, procedures, and operational documentation to a high standard
  • Ability to objectively consider matters from an end-to-end perspective, including looking at reporting related matters from the initial policy statements, more detailed procedural aspects, training requirements, assurance testing, and monitoring
  • Identification and assessment of potential regulatory risks facing the business (either conduct or regulatory-related)
  • Ability to work both independently and within a team environment with appropriate supervision.  A desire to deliver results. Self-motivated and self-reliant with a genuine desire to get things done and to do it right, as well as the ability to provide practical and effective advice. Being able to accept challenge and change, listen to the other point of view, and adapt your approach accordingly is essential
  • Diplomacy, sensitivity, and the ability to gently, but professionally stand your ground when needed and persuade others of the merits of a particular approach
  • EMIR experience at any of the following: financial institution, law firm, regulator, or Compliance consultancy practice
  • Microsoft Excel, Word, and PowerPoint skills are required
  • Strong knowledge of Financial Markets operations and products
  • Good educational background, ideally to degree or equivalent level
  • Applicant must have the right to work in United Kingdom

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Job ID: 82816437