Operations Transaction Reporting Analyst - Associate
Mitsubishi UFJ Securities International (MUSI) is the European hub of MUFG’s securities business. Headquartered in London we have just over 600 employees and are active throughout the international capital markets, focusing on debt, equity, derivatives and structured products. It is this vision and our corporate values that reflect who we are and guide how we behave. We therefore strive to recruit individuals who share our vision and values, and who have the motivation and commitment to help us move our business forward.
Overview of the Department/Section:
Mitsubishi UFJ Financial Group (MUFG) is one of the world’s leading financial groups. Headquartered in Tokyo and with approximately 350 years of history, MUFG has a global network with 1,100 offices in over 40 countries. The Group has over 140,000 employees, offering services including corporate banking, commercial banking, retail banking, wealth management, investment banking, capital markets, personal and corporate trust, and transaction banking.
The Group’s operating companies include Bank of Tokyo-Mitsubishi UFJ, Mitsubishi UFJ Trust and Banking Corporation (Japan’s leading trust bank), and Mitsubishi UFJ Securities Holdings Co., Ltd., one of Japan’s largest securities firms.
MUFG conducts securities business internationally through its overseas subsidiaries Mitsubishi UFJ Securities International plc, Mitsubishi UFJ Securities (USA) Inc., Mitsubishi UFJ Securities (Hong Kong), Ltd. and Mitsubishi UFJ Securities (Singapore), Ltd. With each member of the group working in partnership with one another, MUFG provides best in class service and products to corporate and institutional clients.
Mitsubishi UFJ Securities International (MUSI) is the European hub of MUFG’s securities business. Headquartered in London we have just over 600 employees and are active throughout the international capital markets, focusing on debt, equity, derivatives and structured products. Due to the diverse nature of our business we require a clear unifying vision for all of our people. It is this vision and our corporate values that reflect who we are and guide how we behave. We therefore strive to recruit individuals who share our vision and values, and who have the motivation and commitment to help us move our business forward.
The Operations division is core to all of MUS’ business activities. Comprising of c.100 employees across London, New York and Hong Kong, the function consists of Middle Office, Settlements, Collateral Management and Operational Control, covering a diverse product range including Equities, Fixed Income, Derivatives and Futures.
The division is responsible for processing and settling every trade booking and ensure cash flows & margins are managed, while ensuring wide ranging regulations are consistently met. Operations also play an instrumental role in business development and the introduction of new products and markets.
Main purpose of the role:
The Operations Control Team (OCT) is responsible for –
• Operational Control (Balance Sheet & Accounting Control)
• Reconciliation (Nostro, Depot, Internal Accounts, FOBO) product and investigation
• Client Audit Requests
• Definition , monitoring and testing of ‘fit for purpose’ granular Level 1 controls to support all Operations processes
• Regulatory Reporting (Transaction & Trade Reporting)
• Client Asset Segregation (reconciliations and regulatory reporting submissions)
• Surveillance of front office booking protocal through the monitoring of late, cancelled & amended trades (known as Trade Activity Reporting)
• Production of regular MI and Dashboard reports.
This group has 10 team members.
The Transaction Reporting team within OCT Regulatory pillar has the responsibility for ensuring that MUFG fulfils its reporting obligations to its regulators in specific jurisdictions, by partnering with the Front Office, Operations line, Transaction Reporting IT and the Legal and Compliance Division.
This Associate role will assume responsibility for the activities highlighted in bold above. As well as performing these ‘business as usual’ tasks, the role holder will be responsible for centrally coordinating, managing and controlling these processes across vendors to ensure regulatory reporting issues are addressed on a daily basis. Given the changing regulatory landscape, IT priorities are aligned to areas of maximum exposure, and Operations will receive the necessary rule guidance and interpretation from Legal & Compliance to support new and existing requirements.
• Be responsible for highlighting, analysing and remediating regulatory reporting issues relating to the accurate and timely reporting of transactions across multiple jurisdictions.
• Be responsible for coordinating across multiple stakeholders (IT, Line operations, Front Office, Legal and Compliance) to undertake the appropriate remediation steps to close out reporting issues.
• Be responsible for delegated client reporting across multiple jurisdictions, ranging from general enquires on service, on-boarding, reporting submission and regulatory queries from clients and business units.
• Work as part of the team to continually review process controls to ensure accuracy and compliance to regulatory rules
• Monitor data quality, bad matches, upstream systemic issues, industry platform issues.
• Liaise with multiple Operations line teams to provide guidance and support for transaction reporting.
• Ensure there is adequate knowledge and support for transaction reporting across all asset classes within the Ops Control and wider Ops team.
• Monitor transaction reports and exceptions and ensure that product areas are actively resolving outstanding exceptions for their areas on a daily basis.
• Follow up on issues or questions submitted by Operations teams and seek guidance from Legal and Compliance where required.
• Continually review and enhance MI and Dashboard reporting to ensure that it impactfully reports and flags the key risk themes
• Escalate issues and control breakdowns to Operations management, Compliance and IT where appropriate
• Support projects / programmes required to implement additional regulatory reporting requirements or upgrade existing platforms
• Help with the delivery of training on the transaction reporting systems and document and maintain a standard set of policies and procedures.
Skills and experience:
• Knowledge of OTC Derivative and Securities Products, covering CFTC, ESMA, FCA and HKMA reporting.
• Proven track record in regulatory reporting role
• Ability to work independently as well as part of a team, including interfacing across all levels.
• Strong Oral and written communication skills
• Strong Analytical and problem solving skills
• Ability to work to tight deadlines
• Ability to partner with colleagues across functions and lead effectively
• Strong experience of MS Office suite (particularly Excel)
• Strong Functional knowledge of operations and trade life cycles
• Familiarity with Transaction Reporting regulation rules and requirements
• Familiarity with DTCC Trade Repository, Univista, and HKMA Trade Repository, processes and frameworks
• Familiarity with Murex, Markitwire and Gloss
• Excellent communications skills
• A strong sense of accountability/results focused
• A pro-active, motivated approach
• A confident individual, with the ability to provide clear direction to Ops and other areas of the firm
• A structured and flexible approach
• The ability to demonstrate strong decision making skills/sound judgements
• A calm approach with the ability to perform well under pressure
• Strong problem solving skills with a logical approach
• The ability to collaborate and partner across the firm
• Strong team player with a professional approach
• Excellent accuracy and attention to detail
• Ability to manage large workloads and tight deadlines
• Flexibility to adapt to urgent tasks as well as undertaking longer-term solutions