Local Regulatory Advice & Reporting Lead (Wholesale Banking, Manila Branch)

Core Role

Supports the CFO & Controller in developing and executing ING's regulatory and transformation strategy to ensure compliance and controls are adequate to mitigate risks by performing the following:
a) Advises management on compliance with local regulations as it relates to regulatory reporting responsibilities to BSP, PDIC and SEC. 

b) Responsible for external reporting to regulators and timely operationalization of changes in external reporting

c) Provides the correct design, execution and control of the financial records and associated regulatory reports.  Advises on the development, maintenance and optimization of policies, guidelines and models of regulatory information

d) Manage projects implemented in the Manila branch such as new system implementation or reporting automation.

Key Responsibilities

Reporting Compliance

a) Ensures that all local regulatory reporting and monitoring requirements are completed and submitted timely in accordance with the regulations and ING accounting policies and standards which are aligned with IFRS/PFRS. Ensures adequate review is made before each report is submitted. -

b) Provides analytical reviews, interpretation and substantiation of the financial, statutory or regulatory reports. Validates adherence to requirements.

c) Work with Finance Controller in the preparation and finalization of Audited Financial Statements including disclosures/schedules that may be assigned, including its supporting working files.

d) Supports the ICAAP Chairperson in the compilation of ICAAP document due for submission to BSP in Q1 of each year; incorporating impact of business strategy to financial projections/balance sheet, capital requirements and stressed scenarios. Analytics

e) Conducts impact analysis of new BSP/PDIC & SEC regulations to ING’s compliance with prudential ratios.

f) Performs the required analytic review of unusual trends/movements to identify cause of variances/reasonableness of regulatory data. Business Partnering

g) Uses expertise of regulations and products to advise responsible management on:

• Compliance to regulatory limits/ratio
• Product reviews by identifying implications of local (e.g. BSP) regulations to new products and new regulations to existing products

h) Analyses and communicates (e.g. to business) about changes in regulations related to regulatory requirements, e.g. thru regulatory publication and briefing.

i) Coordinates with other departments, BSP contacts and peer banks regarding regulatory issues and provides alternatives to address any compliance risk of the Bank. Process Design and Control Execution j) Understands end-2-end Finance processes and systems and interdependencies with other domains such as Risk and Operations.

k) Develops and maintains the internal control framework over financial and regulatory reporting (MSFRR) and advises on internal control measures.

l) Develops and formulates control policy for internal control of Finance and the business unit. Translates and implements (new) regulatory standards such as BSP reporting rules into, for example, chart of accounts, processes, systems and interfaces with the reporting systems.

m) Performs continuous streamlining process of the local regulatory reporting function including management of projects on system implementation.

n) Manages the local regulatory reporting activities by means of timely completion, quality and compliance. Sets and monitors KPIs of team and individuals, on accuracy, efficiency and timeliness.

Project Implementation

a) Provides specific financial expertise to business-wide projects.

b) Ensures all reports covered by RRP tool are adequately tested and implemented by the team.

Competencies and Qualification

• Minimum of 8 years’ experience in banking or audit with experience financial reporting is a must while regulatory reporting is preferred
• High level knowledge of financial accounting (IFRS) and global/local regulatory requirements (BSP, PDIC, SEC & BIR)
• Experience in leading teams and initiatives • Strong communicator in English, both verbal and written.
• Strong risk and control awareness and knowledge of financial control procedures • Passion about process excellence and optimizing the control and efficiency of Finance activities.
• Ability to work collaboratively across functions and geographies
• Ability to anticipate and lead change; open to AGILE way of working.

Relevant Behaviours

• Collaborative style: builds partnerships and works collaboratively with others to meet shared objectives. For example, encourages coworkers and external partners to work together as a team, and makes sure they get credit for doing so. Encourages people to share their honest views, responds in a non-defensive way when they do.
• Communicates effectively: develops and delivers multi-mode communications that convey a clear understanding of the unique needs of different audiences. For example, tailors communication content and style to the needs of others. Pays attention to others' input and perspectives, asks questions, and summarizes to confirm understanding.
• Ensures accountability holds self and others accountable to meet commitments. For example, tracks performance and strives to remain effective, learning from both successes and failures. Readily takes on challenges or difficult tasks and has reputation for delivering on commitments