Risk Management department is responsible for developing, maintaining and promoting the Bank’s Enterprise Risk Management Framework (ERMF) and activities, and for providing independent second line of defence (2LoD) oversight for Traded Market Risk, IRRBB & FX Risk, Operational Risk and Model Risk, Climate Risk and Strategic Risk management activities in the Bank. As a Vice President – Regulatory Reporting Risk Oversight, you will be working within the Financial Risk Management team as 2LoD and will be responsible for providing independent oversight, challenge and assurance over the Bank’s regulatory reporting framework. You will further strengthen the Bank’s second line involvement in regulatory reporting, including liquidity, capital and related regulatory interpretations ensuring robust governance and controls in line with the Bank’s Enterprise Risk Management framework, PRA expectations and requirements, and industry best practice. This is a full time permanent role.
Key responsibilities
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Establish and operate an independent 2LoD regulatory reporting oversight framework under the CRO
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Act as 2LoD subject matter expert for PRA prudential regulatory reporting
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Ensure clear roles, responsibilities and segregation of duties across first line of defence (1LoD) and 2LoD
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Support effective risk oversight committees. Produce and review regulatory reporting management information. Escalate issues, breaches and disagreements to the CRO and relevant committees
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Ensure 2LoD delivers and maintains appropriate regulatory reporting risk management policies aligned with the Enterprise Risk Management framework
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Provide independent 2LoD SME review and challenge of key regulatory reports, including liquidity and capital and implement a risk based review of less material reports and interpretations. This includes review and challenge of related assumptions, methodologies, judgments, manual adjustments, regulatory interpretations and application of industry best practice
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Review and challenge completeness and appropriateness of the regulatory report inventories, reporting processes and regulatory interpretation schedules, and independently verify 1LoD risk assessments
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Work closely with relevant internal stakeholders (e.g. Financial Management, Financial Crime and Compliance, and Internal Audit departments) to strengthen the overall regulatory reporting risk management
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Provide guidance, support and training to 1LoD for owning and managing regulatory reporting risk, and for designing and implementing appropriate 1LoD processes and controls
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Monitor 1LoD implementation of regulatory reporting policies and controls
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Drive continuous improvement across the Regulatory Reporting Risk Framework, enhancing governance, controls, documentation standards and reporting process
Requirements
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Degree educated in Finance, Business Management, Mathematics, Risk Management or Economics
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Relevant professional qualification
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Extensive experience in regulatory reporting risk management including liquidity and prudential requirements within the banking industry
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Experience in operating a 2LoD or independent oversight role
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Solid experience in a risk, compliance, finance or assurance role
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Demonstrated experience in developing and embedding of risk policies, governance structures and control standards
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Thorough understanding of UK regulatory reporting requirements (PRA/FCA)
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Proven track record of regulatory engagement with the PRA or equivalent regulators and Board level committees
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Excellent communication and interpersonal skills with the ability to form effective relationships at different levels and to influence and engage key stakeholders
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Demonstrated leadership in developing and embedding of risk policies, governance structures and control standards
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Attention to detail
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Team player
Having a presence in the UK for more than 90 years, Bank of China London Branch has been providing an excellent financial service to the market and maintain its competitive edge as an international bank operated in the UK. It has employees in over 33 countries, and it is one of the most internationalised overseas branch in the Bank of China Group. The Bank values the diversity of its employees and aims to create an inclusive environment where everyone can speak up and enjoy the equal opportunities to grow both personally and professionally.
