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For Companies At a Glance
- Tasks: Lead regulatory reporting and ensure compliance with financial regulations.
- Company: BACB is a UK bank specialising in trade finance, focusing on Africa and the Middle East.
- Benefits: Enjoy hybrid working with 3 days onsite and 2 from home, plus competitive perks.
- Why this job: Join a dynamic team making a real impact in international trade finance.
- Qualifications: 8+ years in regulatory reporting, qualified accountant, advanced Microsoft Office skills required.
- Other info: 12-month fixed-term contract with opportunities for professional growth.
The predicted salary is between 48000 - 72000 £ per year.
About Us
BACB is a UK bank that offers trade finance and complementary products to clients in specialist markets, especially Africa and the Middle East. We have been helping businesses with trade finance and complementary products for over half a century, focusing on trade flows to and from Africa and the Middle East as well as real estate in the UK. Our in-depth knowledge of the countries and practices where our clients operate ensures that we put them first.
Additional Info
- Hybrid Working: 3 days onsite, 2 from home
- Location: City of London
- Contract Type: 12 month FTC
Job Summary
Reporting to the Head of Prudential Regulation, the Regulatory Reporting Manager is responsible for:
- Providing input into the Finance Change Programme and support the Change Programme with respect to the Moody’s Banking Cloud implementation and the implementation of Basel 3.1.
- Ensuring BACB adheres to and understands all regulatory rules, understands the related implications, and keeps up to date with any regulatory changes. Additionally, the Associate Director is also responsible for the accurate, timely and complete regulatory and statistical reporting to the PRA and the Bank of England.
Key Work Outputs and Accountabilities
- Prepare and review a full range of prudential and statistical reports to the PRA and BoE in a timely manner and to a high level of accuracy in accordance with the regulatory reporting timetable enabling sufficient time for review and challenge.
- Ensure that all relevant Regulatory governance, policies, frameworks, procedures, checklists are up to date, detailed, and effectively documented.
- Ensure that adequate controls are in place over the preparation of regulatory reports, reviewing the work prepared by other members of the Regulatory Reporting team.
- Ensure up-to-date procedures are in place to evidence that all regulatory reports are reconciled to the Bank’s books and records and are accompanied by relevant MI and a documented clear audit trail.
- Work with the Head of Prudential Policy and Assurance to understand upcoming regulatory changes, in particular Basel 3.1 and ensure that the Regulatory Reporting team is equipped to implement these either through policy interpretation and documentation or working with other internal stakeholders to identify new processes and data requirements for the successful implementation of Basel 3.1.
- Ensure that the Regulatory Reporting team’s systems and processes are prepared to implement changes in template reporting and taxonomies.
- Escalate immediately to the Head of Regulatory Reporting, Head of Prudential Regulation, Deputy CFO, and CFO any concerns related to regulatory reporting matters.
- Build and maintain good relationships with internal stakeholders, in particular the Risk, Operations, Business areas and Change/Project teams.
- Ensure that new products or Bank-wide projects and initiatives are analysed for regulatory reporting implications, are embedded in the Bank’s accounting systems, and that any software implementations are project managed effectively.
- Supporting the wider Regulatory Reporting team and reviewing their work.
- Preparing MI as required for senior management.
- Perform User Acceptance Testing (UAT) in respect of the Moody’s Banking Cloud implementation.
- Undertake ad-hoc projects as requested by the Head of Prudential Regulation, Deputy CFO, or CFO.
Required Qualifications and Experience
- At least 8 years’ prudential regulatory reporting experience within a bank.
- Qualified accountant.
- Advanced Microsoft Office skills with the ability to map data and create powerful reconciliations and MI.
- Proven communication skills – presenting to senior management and other stakeholders.
- Able to apply skills to wider issues within the Bank.
Regulatory Reporting Manager employer: BACB plc
Contact Detail:
BACB plc Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Regulatory Reporting Manager
✨Tip Number 1
Familiarise yourself with the latest regulatory changes, especially Basel 3.1, as this will be crucial for the role. Understanding how these regulations impact reporting will not only help you in interviews but also demonstrate your proactive approach to staying informed.
✨Tip Number 2
Network with professionals in the regulatory reporting field, particularly those who have experience in banks similar to BACB. Engaging in discussions about industry trends and challenges can provide valuable insights and may even lead to referrals.
✨Tip Number 3
Showcase your advanced Microsoft Office skills by preparing examples of data mapping and reconciliations you've done in the past. Being able to discuss specific instances where you've used these skills effectively can set you apart from other candidates.
✨Tip Number 4
Prepare to discuss your experience in managing relationships with various stakeholders. Highlighting your ability to communicate complex regulatory information clearly will be key, as this role involves collaboration with multiple teams within the bank.
We think you need these skills to ace Regulatory Reporting Manager
Some tips for your application 🫡
Understand the Role: Before applying, make sure you fully understand the responsibilities of a Regulatory Reporting Manager. Familiarise yourself with regulatory frameworks like Basel 3.1 and the specific requirements of BACB.
Tailor Your CV: Highlight your relevant experience in prudential regulatory reporting, especially within a banking context. Emphasise your qualifications, such as being a qualified accountant, and showcase your advanced Microsoft Office skills.
Craft a Compelling Cover Letter: Write a cover letter that connects your experience to the job description. Mention your ability to manage regulatory changes and your communication skills, particularly in presenting to senior management.
Proofread Your Application: Ensure that your CV and cover letter are free from errors. A polished application reflects attention to detail, which is crucial for a role that involves regulatory reporting.
How to prepare for a job interview at BACB plc
✨Know Your Regulations
Make sure you have a solid understanding of the regulatory landscape, especially Basel 3.1 and other relevant regulations. Be prepared to discuss how these regulations impact the bank's operations and your previous experiences in regulatory reporting.
✨Showcase Your Experience
With at least 8 years of experience required, be ready to share specific examples from your past roles. Highlight your achievements in prudential regulatory reporting and any challenges you've overcome, particularly in relation to compliance and accuracy.
✨Demonstrate Strong Communication Skills
As this role involves presenting to senior management and collaborating with various stakeholders, practice articulating complex regulatory concepts clearly and concisely. Prepare to discuss how you've effectively communicated with different teams in the past.
✨Prepare for Technical Questions
Expect questions that assess your technical skills, particularly in Microsoft Office and data mapping. Be ready to explain how you've used these tools to create reconciliations and management information in your previous roles.
