Technical Business Analyst Jobs

Botsford Associates is currently expanding its Technical Business Analysis team with a core focus on building out our Regulatory Compliance division in light of major upcoming initiatives we are and will be supporting our major banking clients with. The role will involve a mix of understanding complex international regulatory requirements, as well as the affects they have on data, reporting and related systems changes in order to ensure compliance by the deadline set out by various regulators. You will have an opportunity to work in a dynamic team and grow your overall breadth of business acumen pertaining to OTC Derivative products, understanding of European regulations, as well as continued enhancements and expertise of overall data analysis skills from an end to end perspective.

First Major Initiative - EMIR Refit (High level summary below):

Overview

The technical standards on EMIR Refit cover data reporting to Trade Repositories, procedures for data reconciliation, access to data by relevant authorities, and registration as a Trade Repository. The compliance date of April 29, 2024 requires companies to report using new formats & standards, and provides 6 months to re-report outstanding trades using the new data format.

This regulation brings EMIR closer to achieving global reporting standards, with harmonized fields across ESMA/ASIC/CFTC, and over one-third of ESMAs reportable fields aligning with the Regulatory Oversight Committee's Critical Data Elements. It also brings more consistency across trade repositories by requiring reporting using only ISO 20022 XML format.

There is an expected 3-6 month gap between ESMA and Expected FCA Reporting Start Dates.

Key Changes to Reporting Standards:

New & Updated Reportable Fields:

The total number of reportable fields changes from 129 to 203 (174 reporting fields & 29 for collateral/margin data). Of the 203 fields, approximately 40% are new fields, 20% are existing fields being updated, and 40% already exist and not being changed.

Reporting Format Changes:

Currently several Trade Repositories offer reporting in CSV, XML and/or FPML. Under the new Refit standards, reporting is to use only ISO 20022 XML format.

Reporting of New Trade Lifecycle Events:

In addition to Action Type (e.g., New, Modify, Correct, Terminate), Event Type (e.g., Step-in, Clearing, Allocation, Credit Event, Corporate Event) will also need to be reported. This will require new reporting trigger logic for each Event Type.

Unique Product Identifier (UPI):

To be used when ISIN is unavailable, and will be managed by ANNA DSB. This identifier will be similar but more detailed than a CFI code.

Required Skills:

• Must have a good overall depth of knowledge and business acumen surrounding OTC Derivatives products
• Strong Data Analysis skills and ability to utilize expertise with SQL, Excel for querying, mapping and testing data as well Batch Processing
• Preferably have some exposure to working on a previous EMIR project, or a minimum an understanding of the impacts of the guidelines
• Must have previous experience working on Technology focused programs as a Technical Analyst/Business Systems Analyst

Soft skills:

• Must be abitious, curious and self motivated - a passion and interest in this space and a desire to continue growing within it is essential to your success within the team

Nice to Have Technical Skills:

• Exposure to Python scripting
• Any exposure to Kafka/Elasticsearch (for future programs)