Director - Global Reconciliations Utility

Job Description

*Background on the Team The Credit & Market Risk Operations team is responsible for providing Proof and Control for Counterparty and Market Risk data to the Credit & Market Risk Department, Global Standards and Disclosures and Regulatory Controllers. It is a Global Team and the Mumbai team will be responsible for supervising and overseeing Credit and Market Risk reconciliations performed by our 3rd party vendor located in Chennai & Nagpur. In addition, the team is responsible for assisting with escalation of issues to appropriate contacts and maintaining control over the Credit & Market Risk Operations processes. The successful applicant will work closely with the vendor management group and VENDOR to help ensure that VENDOR provides quality service as per the agreed terms and conditions of the contract. Primary Responsibilities The candidate will operate as a senior member within a team of individuals working together on a shared workload whilst reporting into a Team Manager. The candidate will have responsibility for people management of junior team members. The candidate will be expected to organize the workload of the team and to be able to contribute to supervising work performed by the team. The candidate will be expected to analyze and improve processes, identify and manage risk and guide junior members of the team. As such communication and organizational skills as well as attention to detail and a readiness to escalate issues with a sense of urgency are of importance. The successful candidate will have the following responsibilities: - Review exceptions/breaks and the quality of research conducted by VENDOR and provide relevant feedback where necessary. - Participate in Weekly Risk Meeting to review all outstanding risk issues with VENDOR. - Assist and train the staff at VENDOR in exceptional processing cases, if necessary. - Perform various intra-day & end of day control checks on occasional basis to ensure that VENDOR delivers quality output. - Assist staff at VENDOR to perform root cause analysis and elimination of issues at source. - Identify risk issues, escalate where appropriate and provide assistance in resolving. - Ensure upward and peer communication of developments and issues. - Review changes suggested by VENDOR related to process, documentation, etc. and approve by following the proper change management process. - Perform various reconciliation functions for those processes retained within the Control Group. - Ensure the team-s SLAs are met and, where possible, exceeded - Actively seeking out opportunities to improve the teams control framework and ensuring controls are carried out in as efficient a manner as possible - Ensuring existing procedures are documented, kept current and complied with - Participate in testing to protect process from impacts of system/booking changes - Developing and maintaining relationships with key stakeholders and business partners - Build an understanding of our process and how this links to our clients requirements and the regulatory framework. - Pro-actively communicate exceptions / issues within our processes which may impact our clients but are out with our immediate scope of reporting. - Provide periodic updates on project deliverables to team management - Must involve in project deliverables as per set deadlines - Provide status updates on a regular intervals to senior management and project governance board - Provide leadership & direction to team members as part of the project team - Participate in weekly / monthly risk meetings with key internal stakeholders, providing updates on outstanding issues In addition to day-to-day responsibilities, the team has a number of opportunities to get involved in ad hoc projects and process improvement work, including a current change project to migrate the system utilised for daily reconciliations and reporting. Given the nature of the function, these responsibilities are not exhaustive and may change to support business requirements., Bachelors Degree

Keyskills :
control frameworkvendor managementchange managementroot cause analysissenior managementroot causemarket riskpeople managementstatements of work sow