Power & Gas Regulatory Reporting Business Analyst (London Area)

Our client, an interesting London-based Commodities firm is seeking to hire a Power & Gas Regulatory Reporting Business Analyst. The business is going through a transformational change and is looking for an adaptable hire who is willing to roll up their sleeves as it is a very busy environment. The role can be aligned either as a contract or permanent role!

Role Scope:

• Perform business analysis for Regulatory Reporting as required by the firm in terms of software solutions and their subsequent implementation or change.
• Experience with regulatory reporting requirements for commodities trading including Physical Power and Gas.
• Project lifecycle covering business requirements analysis, functional specification of changes, testing as required and support of UAT.
• Data analysis as required to support business analysis, such as lineage mapping of attributes from database schemas to reporting outputs.
• Typical transaction reporting regulations but not limited to REMIT, MiFID2 & EMIR.
• Becoming familiar with, and conduct further analysis of, existing applications and processes in line with the requirements of the project assignment.
• Assist the Regulatory Reporting Manager with Project Documents and subject matter expertise.

Responsibilities:

• Conduct business analysis on REMIT reporting requirements to ensure full regulatory compliance.
• Business Requirements elicitation, documentation and explanation, working closely with business stakeholders and project colleagues.
• Production of Functional Specification artefacts covering areas of change management identified by the Regulatory Reporting Team and Regulatory Compliance suitable for both users comprehension and IT technical development to subsequently design and build solutions from.
• Root-cause analysis of identified issues to determine systematic and functional changes to remediate.
• Testing of software changes ensuring fit-for-purpose IT solutions across Regulatory Reporting.
• Production of Documentation detailing source to output data mappings for regulatory reporting submissions.
• Prepare and lead workshops where necessary to resolve issues, drive through analysis and surface solutions/ideas with relevant project team members across business/support functions in collaboration with IT Development.
• Document User Acceptance Testing Strategy documents in partnership with stakeholders.
• Ensure User Acceptance Test scripts are prepared/structured and signed off by relevant stakeholders.
• Facilitate/support UAT at different levels as required for the project, phase/implementation.

Accountabilities:

• Strong knowledge of REMIT, EMIR, Dodd-Frank, MiFID II, and other relevant energy trading regulations.
• Reference and review regulatory text, guidance docs and industry best practices.
• Produce BRD’s & FSD’s and obtain sign off from Business, Compliance & IT.
• Perform data lineage analysis, tracing trade data from source systems to final regulatory reports.
• Identify, investigate, and remediate trade reporting issues related to data quality, completeness, and accuracy.
• Collaborate with compliance teams to interpret evolving regulatory requirements and implement system changes accordingly.
• Strong knowledge of Front-to-Back trade lifecycle processes, including trade capture, clearing and settlement.
• Walkthrough IT and/or Reference data team with the requirements.
• Document User Acceptance Testing Approach documents in partnership with stakeholders.
• Perform functional testing/UAT testing and obtain UAT sign off.
• Delivery of SLDC artefacts in a structured, coherent manner suitable for relevant audiences.
• Own and drive “sign off” for documentation, specifications and artefacts for the relevant phases of the project, escalating items of note where appropriate in a structured, positive manner.
• Working in a collaborative one team approach, striving for solutions and pragmatism whilst meeting the regulatory requirements in a fit for purpose manner with software delivered.

Skills & Experience:

• Essential
• Detailed understanding of transaction reporting requirements across UK and EU Jurisdictions, primarily REMIT (including table 1 and 2 at minimum).
• Demonstrable experience working as a Business Analyst within regulatory change projects in Commodities or Financial Service organisations.
• Significant exposure to the Front-to-Back trade lifecycle, with demonstrable knowledge of traded derivative products for ETD and OTC.
• Ability to “own” and drive Business Requirements elicitation, Functional Specification documentation and explanation - working closely with IT developers and business stakeholders.
• Significant experience working with IT Development teams.
• Working knowledge and hands-on experience of using SQL (data and object model concepts) to interact with complex data sets held in relational databases.
• Detailed usage of MS Excel for data analysis and prototyping solutions.
• Comfortable working in a fast paced, changeable/ambiguous environment where multi-tasking may be required along with a positive ‘can do’ mind set.
• Effective communicator both verbally and written coupled with a strong collaboration ethos.
• Comfortable working with IT Development teams and daily interaction with development staff.
• Desirable
• Experience within Commodity Trading environments, specifically Energy and/or Metals coupled with Regulatory Reporting aspects of these asset classes.
• Exposure to vendor/bespoke Commodities Trading Risk Management Systems e.g. Openlink Endur.
• Third party Regulatory Reporting vendor systems/Trade Repositories.
• MS Visio and Powerpoint.
• Experience working in Regulatory Remediation Projects.