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Senior Regulatory Product Analyst (HKMA)

Keywords / Skills : HKMA, HKMA Regulatory Reporting, Senior Business Analyst, Regulatory Product development

10 - 15 years
Posted: 2019-01-25

Job Description
  • Vermeg (previously Lombard Risk) is a leading provider of regulatory compliance and collateral management software solutions to banks and financial institutions on a global basis. 
  • We are currently seeking an exceptional candidate to fill the role of Senior Regulatory Product Analyst/Senior Business Analyst for our HKMA regulatory reporting product. This position will be based in our Hong Kong office. 
  • The Senior Regulatory Product Analyst would be a lead SME for Hong Kong and will work as part of a growing team of regulatory subject matter experts in the Asia region, who are responsible for: 
  • Maintaining a comprehensive and detailed understanding of the regulatory reporting requirements, both within jurisdictions for which Vermeg already provides a solution, and for new requirements and jurisdictions for which the company has decided to develop a solution; 
  • Using this knowledge to undertake the analysis and functional design of product enhancements to satisfy new or changed reporting requirements; 
  • Analyse the impact of the new enhancements on the Product Interface data model due to new changes, and make sure its complaint to the standards and is well maintained/documented to be published for Professional Services (i.e. local implementation teams who implement the product for the Banks) and to partners/banks who use the product directly for regulatory return automation. 
  • Preparing and maintaining the test scenarios, test data and expected results necessary to perform functional testing of product enhancements and new solutions; 
  • Peer-review of functional design specifications produced by other product analysts to ensure the reporting requirements will be satisfied and the resultant product solution will be "fit for purpose". 
Key dimensions:
The Senior Regulatory Product Analyst can expect in time to work on a variety of Vermeg’s regulatory reporting solutions, across multiple jurisdictions. However, initially the expectation is that the analyst will work on our HKMA reporting solution, where an in-depth knowledge and experience of the HKMA requirements is an essential requirement.

The Senior Regulatory Product Analyst will take primary responsibility for tracking new or changed HKMA reporting requirements, assessing the impact upon the company’s current product solution, and contributing to the estimation and planning of any required development work. He or she will also work closely with the Delivery and QA/Test teams based in Shanghai, assisting in the detailed analysis of the requirements, the production of product design specifications, and the definition of appropriate test cases, test data and expected results.

The reporting line for this position is to the Head of Regulatory Products (Asia pacific), based in Singapore. As a Senior Regulatory Product Analyst, the individual appointed to this role will be a key member of a "virtual" team of regulatory subject matter experts (SMEs) based in London, New York, Singapore and Hong Kong. A significant aspect of the SME team’s remit is to identify common solutions to the reporting requirements of disparate jurisdictions, where generic components can be designed and developed once, and then re-used across a number of our product solutions. 

Main roles and responsibilities:
  • Monitor regulators’ websites for prospective up-and-coming regulation 
  • Liaise with the regulatory authorities, where clarification of the regulations is required 
  • Use strong analytical and investigative/questioning skills to break down regulatory documents into a structured and manageable set of requirements 
  • Work with product management to agree the scope of product releases 
  • Explain the new regulations to other parts of the business, including the occasional delivery of presentations on the new regulations and, if appropriate, the production of worked examples illustrating how the new regulations will be applied 
  • Understand the product data model and how it is applied throughout the product 
  • Translate the requirements into functional design specifications that can be used by the technical development team to implement the required changes and enhancements to the product 
  • Communicate directly with the technical developers as and when necessary to provide guidance, and resolve questions and issues that arise 
  • Maintain an understanding of the product to an extent where it is possible to answer questions and resolve issues that may arise, both from internal consultants and external clients 
  • Create and maintain test scenarios that replicate client data, including the definition of appropriate test data and expected results 
  • Review and comment on product release documentation, ensuring that it can be understood both internally and by external clients 
  • Assess the product software, identifying areas where functional improvements can be made; then liaising with development to establish how the improvements can be applied 
Qualifications and requirements:
Work Experience:
  • Overall experience greater than 10 years working in banking related Industry with knowledge of a wide range of financial products, and with a minimum of 4+ years working within the Regulatory Reporting domain (HKMA). 
  • Experience working in the product development/delivery department of an independent software vendor providing Regulatory Reporting solutions for Banks. 
  • Experience of working in the regulatory department of Big Locally Incorporated / International Bank, preferably someone who worked in Regulatory change department (or) as a Senior IT BA working on Regulatory Reporting projects i.e. someone who have acted as a binding layer between Finance and Technology departments with a focus on Regulatory Reporting. 
  • Experience of working within a virtual team spread across several global locations and time zones
Business Knowledge:
  • Extensive banking/finance experience, with a strong background in regulatory reporting, and detailed knowledge of HKMA Regulatory Reporting requirements for the Banks. 
  • Previous experience of the implementation of major regulatory changes 
  • Good knowledge of Financial reporting and Basel III reporting requirements 
  • Have a good understanding of reporting requirements in other regions in Asia i.e. MAS(Singapore), APRA(Australia) etc.
Technical Skills:
  • Good understanding of the Product Data Models and enough technical knowledge to design the product logic (allocation rules, ETL process etc.). Though this is not a pure technical role, expectation is that the resource should be able to scan through the Product solution, and be able to independently design the process flow for the returns.
  • SQL querying and scripting, ETL knowledge
Capabilities and other qualities:
  • Strong analytical skills. 
  • Able to grasp difficult or unfamiliar concepts quickly - self-motivated and resourceful at finding ways of filling knowledge gaps. 
  • Able to use investigative skills to remove ambiguity from the requirements in order to ensure that they can be documented to a baseline state to allow design specification work to proceed. 
  • Confidence to be able to constructively challenge the business on requirements as and when appropriate. 
  • Strong presentation and communication skills. 
  • Excellent inter-personal skills, including the ability to influence and mentor others. 
  • Excellent written and verbal communication and presentation skills 
  • Open attitude towards sharing ideas and knowledge (able to mentor less experienced staff and ensure effective knowledge transfer across the team) 
  • Proactive approach to problem solving, willingness to show initiative and take ownership of issues, and determination and perseverance to follow things through to a successful resolution 
  • Attitude – enthusiastic, positive, dynamic, energetic 
Education:Educated to degree level

Qualifications: A relevant professional qualification. CFA, FRM etc.

Languages : Fluency in written and spoken English and Fluency in Mandarin

About Company

For 20 years, we have evolved with our Clients and the Market, as a solution and service integrator. Now Vermeg is a key Partner for business and digital transformation in insurance and finance.

Vermeg has acquired Lombard Risk, the leading global provider of integrated regulatory reporting and collateral management solutions, to create a leading force in financial services solutions, via a powerful combination of organic and external growth.

With more than 400 clients in 40 countries, and more than 1100 employees, Vermeg is the European leader in insurance management solutions and a global leading finance software provider.

Vermeg covers the whole value chain :

Pension & Insurance
Wealth & Asset Management
Financial Markets & Securities Services
Bespoke Solutions Development
Property & Casualty Insurance
Regulatory Reporting
Collateral Management