Regulatory Reporting Accountant

Director - Talent Acquisition for Europe & Asia Pacific at CIBC Capital Markets

The role of 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 investors.

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 the regulatory returns for the various European legal entities, ensuring that reporting to our regulators is in accordance with local and European rules and timelines, with a focus on prudential returns such as COREP, with focus on 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 etc. to increase capacity.
• Review regulatory rules and policy notices in respect of prudential returns, consider impact and advise of applicable changes to reporting requirements.
• Work with the Regulatory Technical and LDW teams to implement changes to support new reporting guidelines, including but not limited to 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 the local entities, ensuring full compliance with reporting regulations, timely completion and preparation to a high standard.
• Co-ordinate 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.
• The role will include contact with internal and external stakeholders, particularly Luxembourg Finance, Financial Control, Internal Audit and External Audit.
• Support Service Level Agreement with Luxembourg and ensure deliverables for which have responsibility 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 experience within a wholesale banking environment (or equivalent), and be able to demonstrate associated product knowledge.
• Strong knowledge of derivative products such as swaps, options and forwards required.
• Experience in interpreting regulatory rules and requirements in a banking environment, including working knowledge of SACCR and FRTB.
• Strong working knowledge of Microsoft Excel is essential. Ability to work with VBA and SQL will be highly beneficial.
• Up to date knowledge of accounting standards relevant to banking entities.
• Extensive knowledge and understanding of regulatory reporting software (e. g. One Sum X, Lombard Risk etc.) and interfacing requirements to trade booking systems is ideal.
• Experience in data automation (e. g. Alteryx) and data visualisation (e. g. Tableau) tools is ideal.
• General ledger and source system understanding would be beneficial.
• Willingness to challenge existing assumptions and approaches, to ensure a robust output.
• Good time management and prioritisation skills, with ability to work under pressure and to tight deadlines.
• Self-motivated and able to work both 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.
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