Regulatory Reporting Vice President

Role Description

The Regulatory Reporting Governance Vice President) role is critical in ensuring the compliance with regulatory standards, maintaining data integrity, data accuracy and completeness for regulatory reports filed by SMBC.  The VP will stay updated on evolving regulatory requirements pertaining to these reports, manage a strategic control testing program, and continuously enhance control testing methodologies and procedures, to optimize testing efficiency and effectiveness during the report production process.

Reporting to the Director, Regulatory Reporting Controller, of PDAD FAD Controllers, the VP is responsible for ensuring a sound Controls testing function under a strong internal control framework. This position also has close interactions with other finance, risk, data governance and IT leaderships in the bank. 

The position is expected to assist in managing and directing all regulatory reporting controls testing processes and internal control activities linked to adherence of the bank wide controls framework.

Responsbilities

•  Independent controls validation Lead, specializing in Regulatory reports process and controls around the regulatory reports.
• Responsible for development of annual validation plan, overseeing validations from transaction capture through regulatory reporting processes and assessing the internal control environment to focus on reporting accuracy and completeness, including the integrity of the underlying data.
• Provide expert guidance on testing of processes and controls across the end-to-end lifecycle around regulatory report production; Provide guidance on reviewing the regulatory reporting data infrastructure including the end-to-end data process flow with lineage for critical data elements (CDEs), integrity of source systems data, and metadata repositories (including data dictionaries)
• Lead efforts for process/system enhancement initiatives required to meet internal audit and/or regulatory expectations; Identify and analyze issues for risk impact and facilitate the drafting of resolution recommendations within various functions to remediate risks
• Utilize comprehensive understanding of specific processes (global and regional) and regulatory requirements to identify opportunities and streamline control validation exercises, including using different technologies (e.g., UIPath, Alteryx, PowerBI)

Responsibilities

• Manage key relationships across the Finance organization, Internal Audit, and other divisions (incl. Risk and Data Management) with key constituency groups.
• Support Firm responses to regulatory (e.g., FRB, DFS etc.) queries where applicable to role, subject matter expertise.
• Prepare and present clear and concise reports on testing results to senior management.
• Lead the team on continuous monitoring, adjust testing plan/testing procedures as needed, potentially involved with pre-axiom implementation testing.
• Interact with various business areas, understand processes/workflows at various stages, identify potential enhancements to the regulatory reporting process
• Assist team lead to perform regular assessments of various regulatory reports including testing of key business controls and assess whether controls are designed and operating effectively; End to end transaction testing
• Follow the instructions of team lead to perform mapping and classification review to assess proper report classification, in adherence with Fed report instructions
• Maintain issue log, monitor the remediation efforts by the production team
• Review the cross-report quality control process

Qualifications and Skills

• Strong knowledge of BHC (e.g. FRY 9C and FFIEC009/009a reports), FRY 15 and broker dealer regulatory reporting requirements and report preparation  
• Experience with Risk and Control Analysis (RCSA)
• Minimum of 7 - 10 years knowledge and experience in the preparation of regulatory reports of financial institutions 
• Strong knowledge on financial products such derivatives, repo, securities, loans and leases 
• Excellent verbal and written communication skills 
• Knowledge of internal control frameworks  
• Excellent interpersonal skills  
• Good analytical skills 

Additional Requirements

D&I Commitment

Responsible for fostering a culture of diversity and inclusion, holding leaders accountable for creating an inclusive environment through awareness and practice of equity in recruiting, developing, and promoting diverse talent.