Analyst, Regulatory Reporting at Standard Chartered Bank

Job ID: 2300000758

The Role Responsibilities

• Collate information from the bank’s records and ensure timely submission of regulatory returns to CBN relating to:
  • Invisible trade.
  • Letters of Credit.
  • Import bills.
  • Exports Transactions
  • Capital Importation.
  • Purchase and Sales of Foreign Exchange
  • Report on foreign trade credit lines to the regulators
  • Provide reports required for regulatory examination exercises
  • Support the Reporting Manager in liaison with Local Regulatory authorities
  • Check the accuracy of all inputs from Trade dept and the branches
  • Undertake key controls self-assessments
• To collate information from the bank’s records and ensure timely submission of regulatory returns to CBN.
• Upload, update and deliver all local Trade returns timely.
• Under the supervision of the Reporting Manager respond to and resolve all Local Trade Reporting issues
• Provide relevant schedules and respond to regulatory audit queries.
• Be able to automate (end to end) the Trade returns and related reports made to the CBN.
• Provide monthly reconciliation of FX trade returns and agree same to the bank’s general ledger.
• Be up to update on changes in regulatory requirements and document a process review to accommodate such changes.
• Preparation and submission of regulatory reports timely and accurately.
• Partaking in successful audits of the unit by internal and external parties.
• Monitoring of the GL accounts in assessing whether the trend of an account is irregular and requires immediate management attention.
• Performance of Key Control Self-Assessment (KCSA) activities
• Attending to enquiries and queries from internal and external stakeholders
• Taking of minutes of Regulatory Oversight Committee
• Treatment of Ad-hoc requests by regulatory bodies from time-to-time.
• Back up in other activities within the team.

Strategy:

• Awareness and understanding of the Group’s business strategy and model appropriate to the role.

Business:

• Awareness and understanding of the Group’s business strategy and model appropriate to the role.

Processes:

• Preparation and submission of regulatory reports timely and accurately.
• Leading the foreign currency regulatory examinations.
• Performance of Key Control Self-Assessment (KCSA) activities
• Attending to enquiries and queries from internal and external stakeholders
• Treatment of Ad-hoc requests by regulatory bodies from time-to-time.

People and Talent:

• Set appropriate tone and expectations in terms of ensuring effective financial and regulatory controls.
• Work with colleagues to deliver specific projects and deliverables, as determined by the Country CFO
• Contribute to a high-performance culture with specific focus on capability, effectiveness and productivity.

Risk Management:

• Ensure adherence to Net Open Position (NOP) limits.
• Identifying pressure points and potential emerging challenges related to the Bank’s NOP position.
• Seek appropriate assurance that the CBN’s foreign currency regulatory requirements are effectively implemented and monitored on an ongoing basis.
• Ensure robust process controls are in place in line with the operational risk framework.

Regulatory and Business Conduct:

• Display exemplary conduct and live by the Group’s Values and Code of Conduct.
• Take personal responsibility for embedding the highest standards of ethics, including regulatory and business conduct, across Standard Chartered Bank. This includes understanding and ensuring compliance with, in letter and spirit, all applicable laws, regulations, guidelines and the Group Code of Conduct.
• Lead the [Nigeria, Finance, Financial & Regulatory Reporting team to achieve the outcomes set out in the Bank’s Conduct Principles: [Fair Outcomes for Clients; Effective Financial Markets; Financial Crime Compliance; The Right Environment.]
• Effectively and collaboratively identify, escalate, mitigate, and resolve risk, conduct and compliance matters.

Key stakeholders:

• Branches
• Financial Market Operations
• Internal Audit
• Compliance
• Financial Markets
• Wealth Management
• CBN, NDIC, Banks and financial Institutions

Other Responsibilities:

• Perform other responsibilities assigned under Group, Country, Business or Functional policies and procedures.

Requirements
Our Ideal Candidate

• First Degree (B.Sc.) Accounting, Finance, Economics or similar Degree
• Desirable - Professional certifications in Accounting, Professional Memberships in ICAN, ACCA

Role Specific Competencies:

• Microsoft Office (Excel)
• Written skills
• Regulatory reporting
• Accounting