Head of Regulatory Reporting, Tandem
Up to 30% bonus
More information about location
Green-focussed digital bank
Be an early applicant
Green-focussed digital bank
201-500 employees
Be an early applicant
Up to 30% bonus
More information about location
201-500 employees
Company mission
To build the UK's greener, digital bank providing hard-working people across the UK with sustainable ways to save, borrow and spend.
Role
Who you are
- Significant experience of working in a regulated Financial Services environment within UK PRA, FCA and BoE reporting
- Qualified ACA or equivalent
- Understanding of retail banking products
- Be able to represent the Bank to senior management as well as internal and external stakeholders
- Have excellent people management skills/experience
- Conceptual/ big picture thinking with prior of experience of leading transformation and ongoing improvements
- Demonstrable experience of leading a regulatory reporting team through a material regulatory change programme
- Experience of FCA consumer credit reporting, including PSD008/009, MLAR, or equivalent
- Experience of writing regulatory interpretation papers and presenting technically credible positions to boards, ALCo, and regulators
- Experience of contributing to system change projects from a regulatory reporting perspective
- Experience of leading Recovery Plan or Solvent Exit Analysis work
What the job involves
- Working Pattern: Monday to Friday, 09.00 - 17.00 36.25 hours per week
- Tandem is proud to offer a workplace with diverse experiences, perspectives, and backgrounds which leads to a unique company culture for our people and a better experience for our customers
- The role will focus on leading the delivery of Regulatory Reporting for the Bank (including Capital and Liquidity) with a focus on keeping pace with the continuing change of the regulatory reporting environment and developing further efficient, effective reporting
- Lead and inspire the regulatory reporting team, responsible for production of full suite of regulatory reports and reporting of regulatory metrics
- Develop metrics to manage the success and improvements of the regulatory reporting team
- Lead initiatives to improve processes, controls and documentation in all areas impacting regulatory reporting, ensuring adequate sponsorship across the business
- Lead the delivery of the automation and continued transformation of the Group’s regulatory reporting function
- Lead the delivery of business insight and education so that the regulatory impact of new opportunities or growth of existing business is understood
- Feed into commercial business plans
- Maintain the suite of policy and governance documentation regarding the effective governance of regulatory reporting
- Build relationships with second line risk and third line internal audit teams to foster highly effective relationships and 3LoD model
- Provide regulatory input into system change and migration programmes, ensuring data flows into regulatory returns are maintained and validated throughout
- Author and maintain formal regulatory interpretation papers for PRA, Board, and ALCo consideration
- Manage the team's relationship with the data and technology teams, providing clear requirements for regulatory data sourcing, tape builds, and quality assurance
- Liaise with and cultivate strong working relationships with Finance senior management, ensuring inclusion in all necessary forums and updates to enable the Regulatory Finance function to remain abreast of Group policies and interpretations of regulatory reporting developments as and when they occur
- Keep up to date with all new changes to the UK regulatory environment, including the responsibility for horizon scanning of regulatory matters and the necessary interpretation of regulatory policies
- Attend the Prudential Risk Working Group which is the key committee for review and approval of regulatory interpretations, ensuring that the Bank has an agreed position on future material regulatory changes
- Principal user of the Bank’s online submission systems RegData and BEEDS
- Provide analysis and commentary on significant items within the returns
- Sign off on the sole and consolidated regulatory returns and deal with any external queries
- Co-ordinate completion, review and submission of the returns to the regulator
- Own the bank's Basel 3.1/ SDDT implementation from a regulatory reporting perspective, including COREP template updates, revised risk-weighting methodology, and associated interpretation positions
- Provide regulatory input into key transactions relevant to the Bank, including return mapping across entities, process integration and regulatory implications
Salary benchmarks
Our take
The speed of the challenger banks to provide a delightful experience has been impressive, and the number of competitors has proven the consumer desire for innovation.
Tandem sets itself apart from other digital banks, such as Monzo and Starling, not only by being the UK's green digital bank but also by continually launching a wide range of products outside the current account. For example, it offers a leading savings account, with higher interest than many incumbents, and a new interest rate top-up feature for its instant access savings accounts.
The company's partnerships with companies like Oplo and Allium, have helped advance its green efforts, issuing over £230 million of green lending. It may have had a slower start than Monzo and Starling, but has since built momentum, serving millions of users. Since further transitioning into a greener digital bank, the company has seen significant (and sustainable) growth.
Freddie
Company Specialist at Welcome to the Jungle
Insights
Company
Funding (last 2 of 7 rounds)
Jul 2023
$26.9m
GROWTH EQUITY VC
Mar 2020
$78m
SERIES D
Total funding: $170.6m
Company benefits
- Hybrid Work Opportunities
Leadership
Neil Chandler
(CEO)Former CEO of Aion Bank and Vanquis Bank and Shop Direct and was a Strategic Advisor at Apax,
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