If you are interested in this candidate, please contact Richard Lalchan via email rlalchan@cerfinancial.co.uk or call on 0207 626 6065.

00171121

Interview Notes:

• Production of liquidity COREP (LCR , NSFR and PRA110)
• Production of capital COREP (owns capital, leverage ratio, large exposure etc
• Support the risk team through the provision of MI input into the production of ICAAP and ILAAP
• Support the implementation of Basel 3.1
• Daily calculation and analysis of credit/market risk
• Interpretation of rules relating to capital/liquidity base on Basel framework for pillar 1 and 2
• Reason for looking contract ended
• Expected Salary £80k
• Available immediately

EDUCATION:

2004: University: MSc in Business Economics, Finance & Banking

1999: University: BSc Accounting

Qualifications:

2018: Association of Chartered Certified Accountants (ACCA): Part Qualified (Second Stage)

2009: CFA Society of the UK (IMC): Certificate in Investment Management (Financial Instrument)

2007: CFA Society of the UK (IMC): Certificate in Investment Management (Regulatory)

2010: Membership: International Association of Risk and Compliance Professionals (IARCP)

TECHNICAL SKILLS:

• Accounting capabilities and Valuation methodologies of financial derivatives, Fair Value Measurement, (IFRS 13) Price testing/IPV, P&L attribution and analytics, XVA (CVA), IFRS 9, Financial and P&L Workflow, Product Control, Treasury Accounting, Derivative Accounting, System Reconciliation, GL reconciliation and Balance sheet substantiation
• MS Excel (macro, VBA, Pivot, Lookups, data analysis), MS Access, MS PowerPoint, Bloomberg, DataStream, Reuters, Essbase, AS400, SAP, ORACLE R12. Oracle Financials, MISYS Loan IQ, Mark IT (Totem), Super Derivatives, Cognos BI, SWIFT, Euroclear, MIDAS GL, FACT, S2TRACK, SAILPOINT and GLOSS

Product Knowledge:

• Excellent working knowledge of financial instruments across a range of asset classes including Equity, Fixed Income, Interest Rate, CDS, FX, Treasury/Money Markets products, Futures, Options Swaps and Repo, Product knowledge includes their Valuation, Risk Management, Accounting, and their trade life cycle processing.

System Skills:

• Trading & P&L systems: Summit, Open Link, Calypso, Phoenix, Fincad XL, Murex 2.1/ 3.1, Rolfe & Nolan, Sophis, COBRA, Kondor+, Imagine, OPIC, Plato, and Aladdin. BARRA 1, Charles River,

CAREER HISTORY:

May 2023 – December 2024

Banking - Global Liquidity Management (GLM) - Finance

Senior Regulatory Reporting Controller

Products: SFT, Debt, Derivatives, Loans, Cash & Due, Prime Brokerage, Other inflow &Outflows, Deposits, FX, Commitments, Total Return Swap (TRS), Supplemental Balance sheet

The Global Liquidity Management (GLM) group sits within Corporate Treasury. The GLM group is responsible for setting firm wide liquidity risk policy and standards, establishing the framework for sizing liquidity requirements including internal stress testing framework, developing contingency funding plans in conjunction with other stakeholders within and outside Treasury function, providing liquidity oversight to the banks global entities, and ensuring that the bank maintains adequate liquidity appropriately positioned to meet the company’s global needs both in normal market conditions as well as during periods of stress.

• Production and analysis of regulatory reporting including Capital and Liquidity COREP :Own fund, leverage ratio, Large exposure report and asset encumbrance Report.
• Analyses and report on liquidity risk metrics (LCR,NSFR,PRA110 and ALMM)
• Support production of other regulatory returns as required Support the regulatory change process by supporting projects and providing input into requirement definition documents Where relevant, carry out impact analysis of proposed regulatory changes
• Build relationships with key stakeholders, in particular with Finance and Treasury to ensure that queries are dealt with in a prompt manner.

Liaise closely with the Bank financial control team to ensure they understand reporting requirements and are given sufficient notice of new or changing requirements in the future.

Ensure that all Governance and Compliance requirements are adhered to and all reporting and reviewing activities required by the Regulatory Bodies are carried out to the standards required.

Supporting ongoing remediation initiatives

July 2022 - February 2023

Banking - Core Management (Counterparty Credit Risk)

Regulatory Reporting Accountant

• Daily capital calculations/analysis - Review daily market risk regulatory calculations to be incorporated in the daily capital adequacy status sent out to senior managers
• External Regulatory Reporting and Disclosures – Produce the quarterly returns including manual adjustments, reconciliations, period on period variance analysis for UK and French broker dealer entities, as well as maintaining procedures. Present these results to management
• Rules changes - Involved in implementation of rule changes/updates for capital requirements and external reporting e.g. FRTB, IMM and SACCR
• Business Partnering - Conduct research on regulatory requirements, assist in the preparation of capital impact analysis
• Stakeholder interaction - Deal with ad-hoc requests with External (PRA and ACPR) and Internal (Risk; Internal Audit; Global Financial Control, Compliance) stakeholders
• Process improvement - Participate, as required, in assignments to identify and implement improvements to the process and control framework within which the group operates
• System development (BAU) - Review of BRDs, identify issues/deficiencies for change request for reg/upstream systems for rule change and for upstream data/process deficiencies. Carry out UAT and post deployment testing
• System development (Strategic) - User/SME role to define data/ calculation/reporting requirements for in-flight infrastructure project
• Daily BAU Report Production:
• Cube Report- Daily reporting of raw/unadjusted RWA and Exposure by financing type (excluding derivatives) for affiliates.
• Bu pivot Report – Daily reporting to calculate Exposure and RWA by Coper ID for each financing type
• DFC Report– Daily reporting to calculate and analyse the exposure to Default Fund Contribution that is held with CCP's.
• CASH Report – Daily reporting to analyze the day-on-day counterparty risk capital charge variances on cash products.
• FAILS Report – Daily reporting to analyse day on day counterparty risk capital charge variances on failed transactions.
• SUMMARY Report - Daily reporting to analyse daily RWA/capital movements across all product lines at a BASE Summary level and adjust for incorrect RWA movements to ensure correct capital requirement is reported. (Cash, Fails, DFC, SFT, 50R, LER and previous day Summary files).
• LER Report – Daily reporting for exposure to a group of entities is greater than 25% of capital resources, than we are required to apply a large exposures concentration risk charge.
• SFT Analysis Report – Daily reporting to analyze collateral, exposure and RWA movement at an Agent-in-Bulk and Principal level for large variances potentially attributed to collateral timing issues in upstream data systems.
• SACCR EAD LOB Reports – Daily reporting to analyze the derivatives exposure and RWA day-over-day movements with BofASE counterparties using the SA-CCR calculation
• Adjustments Manual- Daily adjustment on trades that does not have correct notional amount in GRIFFINS to override the existing notional amount in Griffins by manually adjusting this amount on a daily basis using the latest month end data.

June 2021– July 2022

Banking - Liquidity Regulatory Reporting Production (EMEA) FPS

Regulatory Reporting Accountant/Analyst Oversight

This EMEA Liquidity regulatory reporting team are part of the EMEA Finance Professional Services Centre (FPSC) which is a team of finance professionals based in Manchester, which provides excellent financial services to the EMEA Controllers group of BNY Mellon. EMEA Controllers is a specialist function responsible for the books and records of the EMEA legal entities, regulatory & statutory reporting and ensuring a robust control environment. It is part of the EMEA Finance department, which consists of finance professionals spread across EMEA, plus offshore support in Chennai. The Regulatory Reporting Production team is the largest team within the EMEA Finance Professional Services Centre responsible for producing internal and external regulatory reporting returns across multiple EMEA locations

• Timely and accurate production of all regulatory returns (COREP-LCR, NFSR, Internal Liquidity Stress Test (ILST), PRA110, ALMM, FINREP- Anacredit, Large Exposure and BOE Statisticals) and MI to the bank regulators, executive management, ALCO and parent companies, ensuring compliance with relevant regulatory rules.
• Responsible for reviewing the offshore production of liquidity regulatory deliverables across various EMEA jurisdictions and working across remediation and change to improve processes and ultimately the operating and governance frameworks
• Support the risk team through provision of MI for ICAAP and ILAAP and the treasury team through provision of MI for daily liquidity reporting.
• Oversee and further develop a core data set that reconciles to the GL and core banking platforms to drive regulatory returns.
• Support the reporting of RWA (Credit, Market and Operation risks)
• Performing variance analysis and investigations on any variance that exceeds the variance threshold
• Challenging and improving processes and procedures with a desire to build a best-in-class regulatory reporting function.
• Responsible for maintaining a strong operational control environment for data production and reporting e g completion of certification, and checklist to the required level, adherence to regulatory governance policies.
• Stakeholder management- work with market Center financial controller owners across the EMEA regions and other business areas particularly corporates Treasury, Risk, Compliance, Legal, Business Finance and business management in the production of regulatory and liquidity returns
• Performing data mapping analysis to understand the availability and quality of data.
• Assist with regulatory change projects and initiatives to support the business as regards to liquidity regulatory reporting and compliance with new regulatory rules and advisory work on business changes and restructures, platform migration such as migration from (OSX to AXIOM)
• Participation in dry run testing on the in-house calculations engine to ensure the quality of the data sources from the group companies and accuracy of the calculation logic in the calculation engine.
• Identify issues from dry run testing and remediate all identified issues with the IT and group companies.
• Support the implementation of Basel 3.1 coming from the change in the regulatory land scape to mitigate the variability in calculating RWA and also reduce the gap between internal models and standardized approaches

August 2020 – March 2021

Financial services

Regulatory Reporting Specialist (Liquidity)

The Liquidity and Funding Controller (LFC) team is responsible for preparing, calculating, reviewing, and filing both the internal and external liquidity and funding reporting returns required by the Federal Reserve, Prudential Regulation Authority and European Banking Authority. The main clients of the team are Corporate Treasury and Bank Resource Management, who jointly manage the Liquidity and Funding needs of the business, as well as close interaction with Legal Entity Controllers, Global Product Controllers, and IT (LCR, NSFR & PRA 110)

• Prepare sections of the daily and monthly liquidity reporting suite for four entities (MSBIL, MSESE, MSIP & MSF)
• validating and controlling procedures for daily LCR are run to meet governance requirements
• Daily reviewing of liquidity reports and commentary for liquidity metrics in a timely and accurate manner
• providing financial information to the Prudential Regulation Authority ("PRA"), Financial Conduct Authority ("FCA") and the Bank of England, as well as producing financial information for the Treasury in a timely manner to expected standards
• Daily and monthly monitoring of movements on HQLA (Central bank Reserves and LEVEL 1 Assets) and NET CASH OUTFLOW
• Daily and monthly monitoring of movements on CVA CASH OUTFLOWS, KNOWN DERIVATIVES CASH INFLOW and SLEEPER COLLATERAL OUTFLOW
• Production of daily packs and upload onto PIPER and EBC LCR tracker
• Daily production and analysis of secure funding and Trapped Liquidity reports
• Running reports for analysis with different Business Object systems (Business Radar, LCR Explorer and BOXI)
• Develop collaborative working relationships with a range of stakeholders across different departments and regions
• Undertake analysis of liquidity reporting data to validate and understand key business drivers
• Participate in improvement efforts including department level work streams and IT automation initiatives
• Ensure liquidity reporting adheres to the defined control framework and is consistent with the key reporting produced across the wider team
• Basel 3, CRD4, ICAAP

October 2019 - January 2020

Financial services - Accounting & Control

Senior Financial Control Analyst

The primary purpose of the position is to perform second level accounting and related controls in line with the companies and to report the results to the companies Group Finance and UK Local Finance. This includes:

• Carrying out all month end accounting postings in an efficient and accurate manner
• Monthly Balance Sheet Review
• Perform monthly Health check reporting
• Perform Monthly Suspense report
• Perform Monthly MT940 report
• Perform provision committee reporting
• Perform Monthly historical base rate adjustment
• Perform monthly Finance control (GL) report
• Liaising with overseas offices and ensuring all inter-company balances are agreed and any disputes resolved
• Ensuring the correct accounting treatment is applied on both BAU and ad hoc matters
• Application, analysis, and review of IFRS accounting and reporting within the monthly financial reporting process
• Maintenance of integrity and accuracy in accounting ledgers
• Assessing, monitoring, and implementing the required level of accounting controls
• Reporting the results of accounting controls to the management and other stakeholders
• Acting as the main contributor in the project of transferring the in-scope second level control activities from UK to CIB Finance hub in Madrid.
• Build effective communication with stakeholders for identification and remediation of any potential control gaps
• Project: Midas general ledger system user access validation and implementation and accounting related static data maintenance in Midas
• Coordinate and assist in Finance sign-off process for new products (NAC/TAC) and ensure local Finance awareness

October 2017 - September 2019

Financial services

Operations & Product Controller SGSS/Global BD (Equity, FX, and Fixed Income)

• Daily production and reporting of P&L including value added commentary
• Attributing the P&L into its constituents
• FOBO reconciliations and resolution of un-reconcilable items
• Monthly Balance Sheet Review - substantiation
• Liaison with desks, middle office, and back office to resolve trade and P&L exceptions
• Support all project initiates embark upon by the team i.e., business improvements from automation and data transitions from legacy system to target system
• Analytical review of new trades
• Price testing, valuations, and Analysis
• Assist in internal and external audit activities
• Journal Entries posting for adjustments
• Oversight of accounting processes and controls including oversight of services provided by external third parties (Accenture)
• Continually review and improve procedures assuring high level of control and accounting is maintained as well as improve efficiency
• Implementation of Accounting Policy and Legal Entity Reporting. Control reporting including escalation of issues, liaison with Auditors and Incident Reporting
• Participate in change requirements identification and monitor implementation for adequacy, including contribution to test plans and user acceptance testing (UAT).

Operations:

• Daily Funding Defunding reports
• Daily production and control of invoice matrix
• Monthly Financial transaction tax for French, Italy, and South Africa
• Production of monthly Bloomberg reports
• Production of monthly UK PTM levy tax and Irish Market levy tax reports
• Monthly reconciliations of client's trade data with accounting data
• Client reporting and management information generation in the context of the provision of service delivery, be the principal interface with relevant SG control and support functions
• Provide a high standard of support and control for Broker Dealer
• Project: Automation of GL reconciliations from RMS

October 2015 - September 2017

Banking

Product Controller - (Interest Rates & Equity, FX, Options): Daily P&L Production

• Daily production and reporting of P&L including P&L attribution (Daily T+1 reporting) and commentaries
• Complete analysis of daily P&L Explain and provide daily Financial commentary
• Analytical review of day 1 p&l (new trade)
• Flash versus Actual reporting analysis
• FOBO Reconciliations
• Balance sheet substantiation
• Monthly independent price verification (IPV)
• Monthly adjustments (FVA)
• Participate in the month end closing process, including reconciliation of daily P&L back to GL and posting of journal entries to ensure compliance with US GAAP/IFRS
• Production of the Month End file including P&L reconciliation, Balance Sheet substantiation, analytical review.
• Control and review of trading data in-flow to the P&L Production tool (including new trades, failed/amended trades, and discussion of these data with the trading desk
• Monthly Independent price verification
• Assist the head of Product control and other team members on ad hoc tasks and projects required.
• Liaison with desk, middle office, and back office to resolve trade and P&L exceptions
• Project: Data migration from legacy system to a new system

August 2013 - August 2015

Banking

Product Controller

• Daily P & L production including explanation
• Production of the month end file including P&L reconciliations and Balance sheet substantiation
• Analytical review of new trades
• Monthly Independent price verification (IPV)
• Control and review of trading data in-flow to P&L production tool (including new trades, failed/amended trades and discussing these data with the trading desk
• Maintaining and developing controls around the risk and P&L
• Ensuring appropriate commentary is provided to explain Flash vs Actual variances
• Ensuring accuracy of multiple legal entities booking and accounting to ensure integrity for reporting
• Liaison with both internal and external client

August 2011 - July 2013

Charity

Product Controller - (Interest Rates & Equity, Options)

• Production and reporting of daily P&L and Risk including reconciliation, analytical review, and provision of commentary to senior management
• Analytical review of day 1 P&L (new trade)
• Performed in-depth P&L attribution analysis through the derivative Greeks (delta, Vega, gamma, theta)
• Reviewed daily P&L and attribution figures to ensure they are within set tolerances. Also investigating and escalating any instances were books/businesses breach tolerance
• Production of the Month End file including P&L reconciliation, reserve analysis, Balance Sheet substantiation, analytical review, and provision of commentary
• Review of daily exceptions within the P&L e.g., failed trades, currency breaks and booking issues.
• Balance sheet substantiation
• Monthly Independent price verification
• Reviewing of new deals and structures and analysis of booking and valuation methodologies employed
• Close liaison with the trading floor to ensure the timely and efficient resolution of trader queries / provision of other business support.
• Process improvement

September 2008 - July 2011

Treasury company

Senior Treasury Analyst (Treasury Accounting)

• Responsible for timely reporting of treasury performance and activities across the group
• Responsible for supporting the treasury manager and focusing on the treasury accounting and back-office activities for the treasury function.
• Responsible for performing month end reporting duties, hedge accounting and effective testing in accordance with IFRS (9).
• Responsible for maintaining the intercompany loan register, financial statements and prepare quarterly and annual treasury disclosures.

August 2007 - July 2008

Banking

Reconciliations/Investigation Analyst

• Objectives: Back-office processing for the outsource mandate from AXA, INVESTEC, and SCOTTISH WIDOW
• Key product knowledge: OEICS, Investment Trust, Pension Fund

August 2006 - July 2007

Banking

Financial Analyst

• Production of investment portfolio reporting
• Weekly reconciliation for investment and dividend account
• Posting Journal entries into GL (SAP)
• Investigate inter-company mismatches and share details for investment.
• Balance Sheet and P&L loss review

June 2005 -July 2006

Financial services

IFAS (Institutional Fund Accounting Services)

Maintained and reviewed policies, procedures, and practices to ensure compliance with all laws and regulations for a firm that specialised in the management of investment portfolios for, OEICs, Unit Trust, Insured Fund - Pension and life Funds, Property Funds, Segregated/Institutional Funds, Fund of Funds. Assets included equity, fixed income, and balanced portfolios and NAV (net asset valuation)

• Preparation of fund accounting reporting (NAV)
• Preparation of interim accounting reports and year end reports
• Overseeing annual audited accounts
• Ensuring fund administrator reporting is accurate, on time, and reflective of wider business insights
• Providing compliance reports
• Reviewing the expenses, distributions, and drawdowns of funds
• Pricing securities

If you are interested in this candidate, please contact Richard Lalchan via email rlalchan@cerfinancial.co.uk or call on 0207 626 6065.

To view other CV's please click here.