Description:
We have an excellent opportunity for a Compliance Advisor to work as part of the Reporting Assurance, Operations and Remediation workstream within our Ethics & Compliance Regulatory Reporting team covering transaction reporting and thresholds monitoring across the UK, Europe and the APAC regions. You will work in an exciting team of regulatory change experts to support bp Supply, Trading & Shipping (ST&S) to maintain its license to operate by aligning with applicable regulatory reporting obligations.
In this role, the person will work under the direction of the Senior Compliance Manager and have the responsibility for implementing and maintaining our reporting assurance, operations and remediation processes for EMIR, MiFID II, REMIT, MAS and ASIC reporting obligations, as well as monitoring our global regulatory thresholds.
About The Role
In this role, you will have the exciting opportunity to:
- Implement and supervise all daily reporting processes and controls for EMIR, REMIT, MiFID II, MAS and ASIC transaction reporting. This includes providing daily assurance on the accuracy, completeness and timeliness of all in-scope regulatory reporting obligations.
- Work closely with Compliance Managers in the team and our Technology partners to close out reporting exceptions in the reporting solutions, including counterparty reconciliation mismatches.
- Where necessary, liaise with other business and functional partners including Reg Legal, Front Office and other business functions to resolve regulatory reporting queries.
- Supervise the regulatory thresholds dashboards for variances and review threshold alerts against internal and external limits. Identify and call out compliance risks and issues to the Senior Compliance Manager and the RTT Compliance Manager.
- Produce high-quality senior customer communication pack for regulatory threshold monitoring.
- Complete EMIR portfolio reconciliation activities in a timely manner, including handling of queries from internal and external counterparty.
- Supervise reporting important metrics across all jurisdictions to ensure senior partners have periodic oversight of reporting performance.
- Document and maintain process notes and desk book for transaction reporting and regulatory threshold monitoring.
- Work with Compliance Managers to build test scenarios and implement test cases on regulatory change projects. Support the delivery of regulatory change programmers to support bp license to operate and business growth agenda.
- Handle other operational processes such as LEI renewal review, counterparty delegated reporting set up and invoicing processes.
- Document reporting incidents in the COLT system after consultation with the Senior Compliance Manager.
What you will need to be successful in this role:
- Bachelor’s or Master’s degree or equivalent experience.
- At least 5-7 years of working experience in a regulated environment covering transaction reporting operations, regulatory change and data analysis, ideally in risk & compliance function, commodities and energy markets, and/or financial services.
- Proven knowledge of financial and/or wholesale energy reporting regulations such as EMIR, MAS, ASIC, MiFID II and REMIT.
- Excellent communicator with strong analytical skills, able to work collaboratively as a team as well as independently with minimal direction in areas of accountability.
- Strong compliance approach and proactive in identifying and raising risks to senior management.
- Attention to detail, excellent work ethics and able to work and deliver under pressure.
- Confident to challenge fixed assumptions, can proactively recommend and action improvement opportunities to derive process efficiencies.
- Experience of producing high-quality documentations, including requirements specifications, test cases and partner packs.
- Able to adapt to new ways of working and embrace change in a dynamic working environment.
- Proficient in the use of Microsoft Office and Power BI
- Previous experience in transaction reporting operations is crucial, with experience of business analysis, regulatory change projects and user acceptance testing an added advantage.