Senior Manager, Benchmark Rates Setting VC GBS

The Role Responsibilities The main function of this role will be to independently perform the post-submission monitoring and validation process of benchmark rates submitted by the bank. As part of his/her daily activities, the candidate will be responsible to identify any discrepancies and breaches with respect to benchmark post-submission validation. Responsible to run/oversee the BAU controls, reporting and escalation process for the post-submission validation of benchmark rates submitted by the bank. Daily input of the bank&rsquos submitted rates and fixings from the calculating agent into a central database. Check the flagged variances on a daily basis and follow up with the various submitting desks for clarification. Check that all submitted rates are in accordance to the hierarchy of evidence prescribed by the various regulatory bodies. Escalate identified issues to the line manager, and actively liaise with stakeholders to close out the issues related to benchmark rates submission monitoring. Act as the main Benchmark Rates Setting Control&rsquos representative on various governance committees with respect to benchmark rates submission. Provide timely updates and management information to various committees and key stakeholders. Research best market practices and keep abreast of regulatory changes with respect to benchmark submissions. Pro-actively improve and automate the current processes. Preparation of monthly reports for senior management review. Assess the impact of regulatory changes and implement additional controls on a need-be basis. Provide feedback (from VC&rsquos perspective) on methodologies used for rate submissions, and for the identification of threshold variances.