Regulatory Reporting & Reconciliation Analyst
Mumbai (Mumbai) Legal
Job description
About Barclays
Barclays is a transatlantic consumer, corporate and investment bank offering products and services across personal, corporate and investment banking, credit cards and wealth management, with a strong presence in our two home markets of the UK and the US.
With over 325 years of history and expertise in banking, Barclays operates in over 40 countries and employs approximately 130,000 people. Barclays moves, lends, invests and protects money for customers and clients worldwide. Please visit our website here for more information.
About Operations Regulatory Reporting and Reconciliation Department
As part of the regulatory and supervisory functions bestowed on it, the Reserve Bank of India collects various fixed format data (called 'Returns') from commercial banks, financial institutions, authorised dealers and non-banking financial institutions. Many of these returns are statutory under the Reserve Bank of India Act 1934, Banking Regulation Act 1949, etc. This department is responsible for timely and accurate filing of Operations Returns to Regulator either directly or indirectly. Also, Bank's policy requires reconciliation and verification of all external and internal financial reporting data, transactions and balances. As part of reconciliation process, the primary objective is to ensure that balances in all accounts within the general ledger and associated sub ledgers used for the financial statements and financial disclosures (i.e. Local and Group consolidated reporting) are owned, reconciled, verified (including substantiation) and classified correctly. This department ensures completeness, validity, accuracy and correct presentation of the data, balances and transactions.
Dynamic working gives everyone at Barclays the opportunity to integrate professional and personal lives, if you have a need for flexibility then please discuss this with the hiring manager.
We are an equal opportunity employer and we are opposed to discrimination on any grounds .
Overall purpose of role
The purpose of this role is to primarily manage and assist the Regulatory Reporting team in preparation, submission and automation of Corporate & Investment Banking Regulatory returns. This role would additionally be responsible for managing the Reconciliation processes for Operations.
Key Accountabilities
Regulatory Reporting:
1. Act as subject matter expert (SME) for Regulatory reporting.
2. Ensure that all returns and reports are delivered timely and accurately, SLAs are met, measured and reported to stakeholders on agreed frequency.
3. Preparation and production of Returns like FTD, BAL, POS, LCR, GPB, Cross currency derivative statement, Half Yearly Review of Investment, DSB-I, Short Sale Reporting, Past Performance Report, QCCP Exposure, DEAF, CIC, Basel III Liquidity (BLR), Cross Border Wire Transfer, ECB-2, Unhedged Currency Exposure, reporting on Booking of forward contract by SMEs and individuals, Derivative transactions - Non-resident importer / exporter, Suspicious transactions - Non-resident importer / exporter, RBS Data point, Pvt Placement Data, Commodity Hedging etc.
4. Ensuring that the regulatory filings are in line with the Regulatory guidelines and Barclays standards and policy.
5. Thoroughly familiarize self with the existing as well as any new regulatory guidelines/changes pertaining to such reporting.
6. The candidate will be expected to manage RBI ADF automation project. Clearly understanding the Returns automation requirements, Interacting with the Stakeholders and preparing BRDs.
7. User Acceptance Testing from a functional point of view, raising defects if any and following up for closure.
8. Collaborating with stakeholders like Compliance, Finance, Technology teams and vendor partners in the automation cycle. Shall serve as an in-house subject matter exper t in issues arising out of functional areas.
9. Maintain effective and standard operational processes and documentation. This role may be required to assist in preparing any other documentation as may be required from time to time.
10. Partner with support functions to drive excellence, continuous improvement and simplification of processes in a timely and professional manner.
11. Contribute to regulatory reporting compliance framework.
Reconciliation (Recs):
1. Key responsibility includes Reconciling and managing General Ledgers along with various Nostro accounts.
2. Reconciling the Trades between Front Office and Back Office trading and settlement systems like Trade Recs (BARX FX TS v Devon), Trade Rec (GBS v CCIL) Forward trades un-settled, ALM Trade Recs (GBS v DEVON), Trade Recs (Devon v GBS), Interbank Trade Recs (GBS), Tolerance Recs (iREPO v FISS), Trade Recs (iREPO v FISS) tickets, Position Recs (iRepo v FISS), Trade Recs (iREPO v FISS) trades, Funding Trade Recs, Position Recs (CATS v FISS), Trade Recs (CATS v FISS), Settlement Recs (CCIL v SUMMIT), Trade Recs (FISS v CCIL) etc.
3. Reconcile external and internal depot accounts.
4. Maintain effective and standard operational processes and documentation. This role may be required to assist in preparing any other documentation as may be required from time to time.
5. Partner with support functions to drive excellence, continuous improvement and simplification of processes in a timely and professional manner.
Stakeholder Management and Leadership
This role will engage and interact with stakeholders like Finance, IT, Compliance, Operations, Change Management, Internal and External auditors, Credit and Business.
Decision-making and Problem Solving
o Problems are resolved within prescribed guidelines and any problems outside those guidelines have to be referred to a higher authority to resolve,
Risk and Control Objective
Ensure that all activities and duties are carried out in full compliance with regulatory requirements, Enterprise Wide Risk Management Framework and internal Barclays Policies and Policy Standards.
Person Specification
1. This position requires an analytics professional specializing in Regulatory reporting and Reconciliation in financial services industry especially related to Corporate and Investment banking products and Operations.
2. Qualified accountant ( CA/ICWA) or MBA Finance from a reputed institute.
3. Good knowledge of Investment Banking products and trade life cycle and events associated with various product classes like OTC, Derivatives, Liquidity & Money Market, Fixed Income, FX Interbank dealings and Corporate trades.
4. Sound knowledge of financial accounting concepts and banking applications.
5. Experience working in Regulatory Reporting and Reconciliation function.
6. Clear understanding of Regulatory reporting guidelines and Change Management principles, within a banking environment.
7. Highly motivated, results-oriented, stakeholder -focused with strong people management skills.
8. Good communication skills – should have fluent oral and written English skills.
9. Strong analytical skills and the ability to correlate general ledger, data and reporting impacts across different interfacing applications and data flows.
10. Should be able to visualize, implement and generate improvements in the current process, deliver efficiencies and strengthen the process framework and controls while making sure that the quality of reporting is immaculate.
11. Ability to analyse and interpret large volumes of data, aggregation and analysis of data on MS Excel to produce reports.
12. Understand key performance measures and indicators that drive reporting and analytics.
13. Proficient in MS Office.
14. Strong interpersonal, analytical, facilitating, decision making and organization skills.
15. Proactive, independent and self-managing; Organized, detail Oriented & results-driven.
16. Change and transformation experience will be a plus.
Purpose and Values
Barclays has a single cross-business Purpose for Barclays and five core Values which underpin it. Our Purpose is helping people achieve their ambitions in the right way. Put simply this is the answer to the question ‘What is Barclays for?' and it should guide our every action as employees.
Respect
We respect and value those we work with, and the contribution that they make.
Integrity
We act fairly, ethically and openly in all we do.
Service
We put our clients and customers at the centre of what we do.
Excellence
We use our energy, skills and resources to deliver the best, sustainable results.
Stewardship
We are passionate about leaving things better than we found them.