Job Type: Permanent
Career Family, Level & Title: Asset Management: Associate Band 1
Location: This role could be based in either our Edinburgh, Birmingham or Telford offices with time spent working in the office and at home. We will discuss what is important to you and balancing this with business requirements during the recruitment process.
Salary & Benefits: Circa.£55,000 FTE (subject to experience) + pro-rated bonus, excellent pension scheme, private medical insurance, 38 days holiday, 12x salary life assurance, career breaks, income protection, 3x volunteering days and much more!
We have an incredible opportunity to join us here at Phoenix Group as a Regulatory Reporting Associate to join our Middle Office team within the Retirement Solutions and Asset Management (RS&AM) function.
Who are we?
We want to be the best place that any of our 6,600 colleagues have ever worked.
We’re Phoenix Group, we’re a long-term savings and retirement business. We offer a range of products across our market-leading brands, Standard Life, SunLife, Phoenix Life and ReAssure. Around 1 in 5 people in the UK has a pension with us. We’re a FTSE 100 organisation that is tackling key issues such as transitioning our portfolio to net zero by 2050, and we’re not done yet.
Team Context
Middle Office is a key support function for the Retirement Solutions & Asset Management (RS&AM) Front Office. It has wide ranging accountability ensuring operational control of investment activities, supporting the Group and RS&AM governance framework, and delivery of investment reporting.
Role Overview
The role will focus on ensuring that the function are meeting their regulatory responsibility to reporting derivatives and securities financing trades under the EMIR and SFTR guidelines. The role will focus on ensuring trades directly or externally placed will have oversight on a day-to-day basis, providing key operational input and guidance. A key focus will be on ensuring delegated reporting is accurate and timely submissions are made completing the relevant reconciliations/accuracy and pairing and matching reviews to confirm this. The role will require continued build out and development of processes, as well as an understanding of relevant asset types and fields.
This role will be operational, focused on EMIR and SFTR reporting, and it will be expected that they will assist to develop the wider regulatory reporting middle office to a proficient level in understanding. They will help on process improvement and operating model enhancements to achieve industry leading systems and controls across asset and fund classes. In the same capacity, participate in functional integration of legacy Phoenix risk carriers across procedures and platforms.
Additionally, the role holder may be asked to help support other areas across the derivatives middle office in confirmation and post trade activities.
Core Responsibilities
1. Regulatory Reporting Oversight – Focus on EMIR and SFTR ensuring all in scope trades, valuations and collateral are reported in a timely and accurate manner.
2. Perform any necessary reconciliations and escalate issues and breaches to resolution with internal Phoenix parties as well as 3rd parties.
3. Provide guidance and analysis on technical aspects of reporting requirements (as defined in Validation and asset specific guidance).
4. Analysis of technical fields to be able to extract and identify reporting errors in Trade Repository reports.
5. Production of MI – Design and implement clear and concise MI to give the business confidence in demonstrating Phoenix are regulatory compliant.
6. Key contact for DTCC and vendors related to regulatory reporting.
7. Oversight of our external fund manager regulatory reporting processes.
8. Regulatory Reporting Oversight – Ensuring that reg reporting operational activities are completed and resolving any outstanding issues.
9. Regulatory Reporting Asset Data – Ensuring that trades are correctly captured in internal systems.
10. Live Cycle management – Performing middle office control on regulatory reportable asset trading.
11. Onboarding new systems – Working with our third-party providers to onboard new system capability and set up internal processes to utilise the tools available.
12. Risk and Control – Developing processes and procedures to make sure our regulatory reporting operations are functioning within our policy standards.
13. Supporting the business in meeting regulatory requirements.
Additional Responsibilities
14. Regulatory Reporting Oversight – Ensuring that reg reporting operational activities are completed and resolving any outstanding issues.
15. Regulatory Reporting Asset Data – Ensuring that trades are correctly captured in internal systems.
16. Live Cycle management – Performing middle office control on regulatory reportable asset trading.
17. Onboarding new systems – Working with our third-party providers to onboard new system capability and set up internal processes to utilise the tools available.
18. Risk and Control – Developing processes and procedures to make sure our regulatory reporting operations are functioning within our policy standards.
19. Supporting the business in meeting regulatory requirements.
The role interacts frequently with the following parties:
20. Internal Functions: Markets & Products, Portfolio Implementation, Compliance, AM Manager Oversight, Middle Office, Cash Management, Investment Operations, Risk Management, & InVista Development Team
21. External Parties: External Portfolio Managers, Third Party administrators, Platform (Trade Repository) Service Providers, Custodians, Clearing Brokers & Trading Counterparties.
What we're looking for:
Knowledge and Experience (Essential Criteria)
22. Exposure to identifying and resolving reconciliation breaks with external parties.
Not limited to;Exposure to analysing large data sources and reporting to demonstrate regulatory compliance.Exposure to developing and enhancing reconciliation tools.
23. Experience in the financial services industry, ideally in a derivatives transactions environment
24. Understanding of regulatory reporting processes
25. Proficient use of MS Office, particularly MS Excel (Intermediate level proficiency)
Desirable
26. Understanding of EMIR reporting regulation.Understanding of reporting various derivative/SFTR product types and collateral models. Systems and repositories understanding (Kaizen & DTCC platforms)Experience in resolving reporting breaks and identifying issues.Other regulatory reporting background considerations - SFTR / MIFIDProducing data to assist in MI/KPI reporting to demonstrate regulatory compliance.Knowledge of the trade lifecycle of derivatives with middle or back-office experience.
27. Functional knowledge of end-to-end investment management technology / operating models, and downstream consumers / value chain
28. Knowledge across investment products including derivative structures
29. Aladdin platform experience would be ideal
Skills and Personal Attributes
30. Attention to Detail & Quality: Demonstrates a diligent working style with high standards for accuracy and output quality.
31. Analytical & Problem-Solving Skills: Strong ability to analyse complex issues, apply holistic financial thinking, and develop effective solutions.
32. Organisational & Project Management: Skilled in planning, prioritising, and managing projects to meet deadlines efficiently.
33. Presentation & Reporting: Capable of producing well-structured, consistent, and client-focused presentations and management information reports.
34. Adaptability & Vision: Agile and forward-thinking, able to adapt processes in a dynamic and evolving environment.
35. Communication & Collaboration: Excellent interpersonal skills, with the ability to engage and maintain effective relationships across diverse stakeholders.
36. Proactive & Independent: Self-starter with a strong sense of ownership, able to work independently and deliver under pressure.
We want to hire the whole version of you.
We are committed to ensuring that everyone feels accepted and welcome applicants from all backgrounds. If your experience looks different from what we’ve advertised and you believe that you can bring value to the role, we’d love to hear from you.
If you require any adjustments to the recruitment process, please let us know so we can help you to be at your best.