The Firmwide Regulatory Reporting & Analysis (FRRA) team resides within Corporate Finance. The group is responsible for the execution and delivery against the Firm’s regulatory reporting requirements to its U.S. regulators.
The team has end-to-end responsibility for US regulatory reporting and capital stress testing, including the design, implementation, and oversight of the execution, analysis, and control and governance frameworks. Its mandate includes determining the appropriate investment in people, processes and technology to improve the accuracy, completeness and consistency of the Firm’s U.S. regulatory reporting and capital stress testing submissions, as well as the implementation of new requirements and guidelines as they are published.
The objectives of the FRRA Team are:
- To provide leadership on all aspects of US regulatory reporting and firmwide capital stress-testing, including both internal and regulatory requirements Regulatory Reporting Policy & Implementation.
- Monitor regulatory reporting rules and instructions changes across multiple different U.S. regulatory reports within FRRA
- Communicate timely changes of reporting instructions (both actual and proposed) to relevant key stakeholders
Manage the change management process that include but not limited to the following:
- Communicate the changes to the relevant stakeholders within the define timeline
- Update Regulatory Reporting Change Management Templates with all relevant changes
- Review changes with FRRA Policy Team SMEs
- Collaborate with reporting team to complete the assessment within above change management templates
- oordinate assessment of proposed changes to the applicable U.S. regulatory reports and assist & coordinate feedbacks to regulators
- Support FRRA Policy Team SMEs to provide guidance related to reporting requirement changes and implementation considerations
- Participate in policy implementation initiatives and coordinate implementation update to the Regulatory Reporting Policy & Implementation Committee
- Support FRRA Policy Team SMEs in providing technical interpretation & guidance on regulatory reporting issues and document interpretations of complex transactions and new products
- evelop and maintain internal policy interpretation and implementation related Frequent Asked Questions (FAQs)
- Assist with maintenance and update of regulatory reporting instructions on FRRA Policy SharePoint and future portal.
- Manage key projects such as RAP vs. GAAP adjustment and historical FAQ projects.