Regulatory Reporting Business Analyst Regulatory Reporting Business Analyst …

in Budapest, Budapest fovaros, Hungary
Permanent, Full time
Be the first to apply
in Budapest, Budapest fovaros, Hungary
Permanent, Full time
Be the first to apply
Regulatory Reporting Business Analyst
  • Primary Location: Hungary,Budapest,Budapest
  • Education: Bachelor's Degree
  • Job Function: Finance
  • Schedule: Full-time
  • Shift: Day Job
  • Employee Status: Regular
  • Travel Time: No
  • Job ID: 19026449


Job Purpose:

Business Analyst specialised in analysing, writing and updating rules for regulatory reporting technology systems.  Utilising specialised skills and tools to translate business rules into algorithms.  Participates in system implementations related to local regulatory reporting for countries across the EMEA region.

Citi's strategy for automating local regulatory reporting processes requires keen insight into data needs, agility to understand and algorithmise regulatory rules and communication skills to convey messages across impacted departments.

The Business Analyst will analyse legacy processes and End User Computing solutions, as well as available data sources, to come up with rules in the rules writing system Rules Harmony.  He/she will test the rules and work with Technology to deploy them into the RegInsight system. 

The Business Analyst will liaise with several departments outside of Finance, many of them located overseas, thereby gaining exposure to a broad range of international stakeholders.

Job Background:

EMEA Regulatory Reporting Citi Service Centre (CSC) in Budapest is a key part of the Finance function.  It is Citi's pioneering centre on a global scale where local regulatory reporting professionals work together in a central location, to ensure consistent quality of local regulatory reporting across multiple jurisdictions and legal vehicles.

The CSC is organized into 5 groups based upon  reporting type and function:
• Prudential Reporting team performs capital adequacy calculation based on Basel2/3:
o Credit Risk team covers the monitoring and reporting of own funds, credit risk, counterparty risk, settlement risk, CVA risk, large exposure risk and the leverage ratio which forms the basis of capital management decisions
o Market Risk and By-desk team covers monitoring and reporting of market risk including Internal Model and Standardised approaches, and monitors the trading desks' capital usage versus the assigned targets and supports traders with analysis of their portfolio
• Statistical Reporting team covers Central Bank for key monetary statistics, based on which important monetary policy decisions are made and also liquidity reporting
• Controls and Standardisation team ensures consistency of controls across the above areas
• Regulatory Reporting System Implementation team is responsible for new systems development and implementation of new rules and regulations
• EMEA Local Regulatory Reporting Transformation team responsible for the execution of efficiency and innovation projects in line with Citi Controllers' strategy and goals

The department's role encompasses from end to end the reporting processes centralized in the CSC for regulated legal vehicles in EMEA.  Members of the CSC always strive to improve processes and strengthen the control environment, while continuing to make Citi a great place to work.

Key Responsibilities:

The individual will be expected to live up to Citi's leadership standards as an individual contributor.  

Responsibilities include:
- Business analysis of existing regulatory reporting processes and solutions
- Shadow the Reporting teams to understand requirements and challenges
- Perform map/gap analysis for the rules versus the standard merged data set
- Raise data gaps and data accuracy issues using Citi's IMR process
- Write, update and test rules in Rules Harmony system
- Support BAU team in UAT process 
- Support team members about rule writing techniques
- Timely escalation of risks and issues related to the projects
- Liaison with multiple departments at global, regional and country level 
- Providing support to CSC and country Finance teams on an ad-hoc basis (e.g. audits, regulatory inquiries)
- Documentation of new processes and preparation of user guides for new systems or features
- Supporting the work of the Financial Reporting Senior Manager by executing further relevant tasks he/she allocates
- Completion additionally of any other tasks in connection with the role but not detailed in the current job description, as charged by the direct manager or the functional head

Development Value:

• Exposure to project management and the latest Citi technology
• Exposure to a broad range of trading and banking products including derivatives, secured financing transactions, securities, loans and deposits
• Deepen knowledge about financial regulations 
• Exposure to other areas within the firm such as Product Control, Technology, Finance & Risk Infrastructure, Legal, Compliance and Financial Reporting & Control


Knowledge and Experience:

• Experience with Rules Harmony is an advantage
• Experience in financial or risk regulatory reporting
• Knowledge of FINREP/COREP is an andvantage
• Accounting and/or Management reporting experience
• Advanced MS Excel knowledge
• Fluent English knowledge
• Knowledge of an additional EMEA language is an advantage


• Excellent analytical skills
• Interpersonal skills, ability to manage stakeholder relationships across senior-junior levels
• Creative, proactive and flexible 
• Excellent ability to pay attention to details and work under pressure
• Ability to meet tight deadlines
• Achieve objectives via working with and influencing others 
• People management experience is an advantage


• University / College degree or equivalent in finance / accounting
• 4+ years of work experience in financial reporting or system implementation roles
• Knowledge of capital and financial market products and Basel II/III are an advantage


• Highly motivated with advanced analytical & problem solving abilities 
• Ability to interpret & implement regulatory guidelines & professional standards
• Demonstrated ability to complete tasks within tight deadlines 
• Enthusiastic team player 
• Professional communication & interpersonal skills