Regulatory Reporting Assurance - AVP
State Street
- Hyderabad, Telangana
- Permanent
- Full-time
- Basic Purpose of Job:
- Provide credible challenge to management to drive compliance with regulatory and policy requirements
- Support executive management and the board by reporting on the effectiveness of key financial and regulatory processes
- Advise in the proactive identification of operational and compliance risks and effective mitigation strategies through effective business partnership
- Offer risk and control insights to improve business results that are predicated on collaborative business partnerships
- Build and continuously develop a dedicated team to achieve and sustain an effective assurance function and best-in-class controls and substantive testing program
- Design and deliver annual risk-based plans to assess the effectiveness of the First Line of Defense, and serve as an increasing basis of reliance for the Third Line of Defense and the external auditors
- Develop and communicate opinions in the effectiveness of First Line of Defense activities, escalating issues as appropriate
- Serve as a subject matter expert to the organization on controls, substantive testing, and risk mitigation strategies
- Drive activities and reviews to meet regulatory requirements for a management assurance function
- Execute a framework to test if the internal systems supporting compliance with regulatory requirements and expectations are properly designed, documented and implemented and include appropriate governance and data quality controls
- Lead the identification and risk assessment of issues; draft recommendations and liaise with business units to remediate risks, findings and gaps identified during the validation process; work with management to track issues to resolution
- Engage key business partners to facilitate completion of assigned deliverables and explain results
- Cultivate relationships across the Finance organization and Corporation with key constituency groups, such as Regulatory Reporting, Product Controllers, Operations, Treasury, Technology and Risk
- Manage the local team: review and provide feedback on team deliverables; recruit, retain and develop individuals
- Identify and drive transformation efforts to further enhance the functionality of RRA as a management assurance team
- Use appropriate data analytic and statistical tools and techniques to analyze a variety of data sources; use technology to help drive enhancement in assurance review testing and reporting workflow
- Develop internal partnerships to provide opportunities for more efficient solutions to various data, systems, and applications issues
- Develop subject matter expertise in regulatory requirements, best practices and expectations
- Certified Internal Auditor (CIA) / Chartered Financial Analyst (CFA) certification or candidate is a plus
- Familiarity with FRB regulations and SEC requirements associated with the Financial Services Industry
- Experience with building analysis solutions and using analytics / BI packages desirable (e.g. Tableau, ACL, Business Objects, SAS, MicroStrategy, Spotfire, QlikView)
- Knowledge of banking products and services, especially loans, deposits, securities and derivatives
- Auditing skills and experience in the review and interpretation of regulatory requirements
- Knowledge of the key regulatory reports submitted to the FRB and European regulators (included but not limited to the FR Y-14Q, FR Y-14A, FR Y-9C, FR Y-15, FR 2052a, FFIEC 101, FFIEC 102, FFIEC 031,FINREP, COREP etc.)
- Exceptional analytical and critical thinking abilities; able to develop and convey a point of view
- Strong oral and written communication skills; ability to effectively challenge and influence
- Demonstrated leadership capabilities with solid interpersonal skills and the ability to work collaboratively across all organizational tiers. A strong customer service mindset is a must
- Proactive and a goal oriented strategic thinker with ability to identify creative solutions
- Demonstrated ability to manage workloads and prioritize deliverables; ability to be flexible
- Strong attention to detail and accuracy
- Ability to multi-task and take on a challenging workload and assignments
- Ability to be proactive with minimal direction, ability to work independently and meet deadlines
- Ability to thrive in a team environment, working collaboratively with others
- Inquisitive and curious about business and functions, strong desire to learn
- High energy and positive attitude
- Professionalism, dependability, integrity and trustworthiness combined with a cooperative attitude