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Vice President - SSBO Global Reconciliations Utility


Source:
TIMESJOBS.COM
Location:
Mumbai, MH
Date:
12-11-2016
Job Code:
58277129
Categories:
  • Banking & Finance
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Job Details

Statement of the role This position is as Officer (VP) location lead for GRU in Mumbai (cc 3N22) and the role also has direct responsibility for oversight of the Credit & Market Risk team within GRU which involves supervision of reconciliation functions performed by vendor TCS for the reconciliation of the counterparty credit risk data (notionals) versus the vertical risk systems (OTC & Listed Derivatives). Vendor supervision involves daily authorisations of TCS performance in the investigation, classification, and reporting of breaks for NY and UK Regulatory controllers and GDSC to support their capital provision and disclosures. This role supports the process which validates the data that feeds into the daily capital charge and monthly Focus charge for MSCO. Follow up to confirm the resolution of breaks, escalation of aging breaks with business units, researching issues, authorization of adjustments to the counterparty credit risk system, risk management and escalation of KRIs, management of vendor KPIs, approval of regulatory reporting, and management of other various projects.Why the role is necessary The position is critical as it supports supervision and approvals of high risk reconciliations which were mandated as the result of a Federal Reserve Matter Requiring Attention( MRA). The role can only be carried out by an MS employee due to the requirement to make decisions which impact the adjustment of credit risk data and which validates the data that feeds into the daily capital charge and monthly Focus charge for MSCO. The high volume of transactions associated with the reconciliations combined with various product booking models supported requires tight controls and close supervision of vendor performance by the Control Group. Primary business areas supported include UK & US Regulatory Controllers, Global Disclosures Standards and Control, Credit Methodology and Credit Capital. The RCSA for the Credit & Market Risk Ops team has rated the risk around monitoring and oversight as High and further pressure on resources will compound this risk further.Impact of not hiring Notional Reconciliations over the OTC and Listed Products are critical for the Firm's regulatory reporting, disclosures and directly impact the firm?s capital provision. The RCSA for the Credit & Market Risk Ops team has rated the risk around monitoring and oversight as High and further pressure on resources will compound this risk further. If we don?t hire this role supervision of TCS performance will be inadequate without this position, our risk profile will increase with impact on our regulatory responsibilities ( Reg W, FRY9C, 10K) which could result in regulatory sanction. The team will be unable to meet the requirements of their written supervisory procedures which will result in process failures and increased likelihood of incidents, as well as a Compliance breach, if we are unable to execute all of our supervisory functions.QUALIFICATIONSBachelor's degree
Degree: MBA/ PGDM

Additional Degree: BA (Arts) | B.Com. (Commerce) | B.Pharm. (Pharmacy) | B.Plan. (Planning) | B.Sc. (Science) | BBA/ BBM/ BBS | BCA (Computer Application) | Diploma-Other Diploma | B.Ed. (Education) | BHM (Hotel Management)

Experience: 8-13

Requirements

Finance
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