Regulatory Reporting Analyst

2 weeks ago

Johannesburg, South Africa Absa Bank Limited Full time

Empowering Africa’s tomorrow, together one story at a time.
- With over 100 years of rich history and strongly positioned as a local bank with regional and international expertise, a career with our family offers the opportunity to be part of this exciting growth journey, to reset our future and shape our destiny as a proudly African group. Job Summary

This team is responsible for ensuring consistency and overall accuracy of returns, queries, commentary and supplementary data, submitted to the Prudential Authority. Reports changes to the Regulatory Reporting Change Control Committee (RRCCC).
Interaction with the regulatory risk and data production centres (such as Finance, Treasury, Credit Risk and Market risk), in order to source data and implement efficient data flows that support the requirements mentioned above in a sustainable way.

Job Description

Key Accountabilities

Preparation and completion of risk information:

- Collect information from various sources in the risk and production centres, for the compilation and preparation of consolidated risk information required in the Prudential Authority (PA) returns
- Coordinate resources from other areas of the ABSA Group, planning and managing the timetable for data collection, consolidation and review of data and information and to ensure that deadlines are met in respect of data submissions
- Calculate the relevant sections required for returns for submission within set deadlines; drawing from source data, own financial and regulatory knowledge and expertise
- Prepare the reconciliation of the risk and finance data (RAFDA) between systems to ensure that the data submissions is complete and accurate
- Identification and preparation of the journals and or adjustments, for review, to ensure accurate and complete submission within the set deadlines and according to policy
- Account for late adjustments to data and or return submissions with adequate supporting documentation and commentary for review by team leader
- Identification of significant month on month, quarter on quarter and year on year variances, for commentary prior to review and analysis by team leaders and prior to submission
- Obtain relevant risk commentary from the Regulatory risk and production teams on the variances identified and on queries raised by the Prudential Authority (PA) or internal review forums.
- Collate the commentary and assess the adequacy thereof, by performing a high level review thereof, drawing on own knowledge and expertise, and present this for review prior to submission
- Meet reporting deadlines as set internally and by the prudential Authority or as per instructions and working day timetables
- Provide input and assistance to the reviewer and prepare the monthly management information packs for internal review forums
- Identify enhancements to current reporting processes and policies in order to achieve optimal efficiency
- Build stakeholder relationships, i.e. with Group Finance, Treasury, Market Risk and Credit Risk.

Preparation and completion of BA returns:

- Collect information from various sources, i.e. Group Finance, Treasury, Market Risk and Credit Risk for the compilation and preparation of consolidated BA returns
- Coordinate resources from other areas of the ABSA Group, planning and managing the timetable for data collection, consolidation and review of data and information and to ensure that deadlines are met in respect of data submissions to the PA.
- Prepare, calculate and compile the working sheets in support of the relevant BA returns to the Prudential Authority for review by the reviewer
- Maintain controls to ensure that the working sheets used in support of the BA returns is accurate and complete
- Prepare and maintain the relevant working papers, calculations and or reconciliation in support of the BA return and other submissions
- Prepare or calculate ad-hoc and other submissions to the Prudential Authority or internal governance forums such as the Regulatory Reporting Review Committee
- Upload the BA returns after review into the PA submission tool - DIX
- Run validation checks on DIX and present for sign off by reviewer
- Prepare the monthly management information and analysis packs on the BA returns for internal review
- Provide input and assistance to the reviewer in the drafting of the commentary and Executive Summary for the monthly management information packs
- Identify enhancements to current reporting processes and policies in order to achieve optimal efficiency

System maintenance and development:

- To provide input and oversee ad-hoc projects which involves system and process development and improvement
- Document the enhancements for these projects for future reference according to ABSA requirements and on ABSA template documents
- Test the automated solution for adequacy, effectiveness and reliability prior to implementation
- To assist the system owners in the implementation of this automated solution, including roll out

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