Analyst, OTC Regulatory Reporting
About Westpac: We are Australia’s first bank and oldest company, and one of four major banking organisations in Australia. This opportunity sits in our London office working for Westpac Institutional Bank (WIB), the division of Westpac, which services the needs of our corporate, institutional, and governmental clients.
How will I help?
A hands‑on role within the Regulatory Operations function, focused on ensuring the firm’s compliance with global derivatives trade reporting and portfolio reconciliation obligations.
Based in London, you will be responsible for managing the end‑to‑end lifecycle of trade reporting and reconciliation processes across multiple regulatory regimes, EMIR, MiFID & SFTR. The position will work closely with the core team based in Sydney and support teams in London, New York and potentially other entities over time.
You will play a key role in maintaining the accuracy and integrity of the firm’s derivatives data by overseeing the reconciliation of material terms and valuations with external counterparties, identifying and resolving breaks, and escalating issues in line with internal policies and regulatory timelines.
The role requires a strong understanding of derivatives products and post‑trade processes, as well as a proactive approach to exception management and regulatory change. You will work closely with internal stakeholders across Front Office, Compliance, Risk, Finance, and Technology, and will act as a key point of contact for delegated reporting counterparties.
This position offers an excellent opportunity to develop deep expertise in regulatory reporting and reconciliation, contribute to process improvement initiatives, and gain exposure to a wide range of financial products and global regulatory frameworks.
Key Accountabilities
- Ensure timely and accurate trade reporting to global trade repositories in accordance with EMIR, MiFID, SFTR, CFTC and other applicable regulations.
- Monitor trade reporting exceptions and manage remediation processes to ensure compliance with regulatory deadlines.
- Maintain and enhance reconciliation and reporting controls, ensuring adherence to internal policies and regulatory standards.
- Perform daily, weekly, monthly, quarterly portfolio reconciliations of OTC derivatives using platforms such as TriResolve.
- Investigate and resolve material terms and valuation discrepancies in collaboration with internal teams and external counterparties.
- Liaise with Compliance and Legal teams to interpret regulatory changes and assess their impact on operational processes.
- Ensure compliance with regulatory requirements for reconciliation frequency, dispute resolution, and documentation.
- Support audits and regulatory inquiries by preparing documentation and data extracts.
- Contribute to continuous improvement initiatives, including automation and process optimization.
- Manage personal workload, prioritise tasks effectively, and escalates key risks/issues to management in a timely manner.
- Stay informed of process changes, regulatory updates, and maintain open communication with global colleagues. Work with peers to ensure process consistency and keep procedures accurate and up to date.
What’s in it for me?
You’ll be joining a highly supportive and collaborative team with international coverage during a period of Group Executive backed growth plans for WIB. You’ll be working in a collaborative, supportive, and growing team and work with senior stakeholders across our international offices.
Westpac offers a comprehensive range of benefits including health, wellbeing, lifestyle, and financial benefits.
What do I need?
- Proven experience in regulatory operations, trade reporting, or portfolio reconciliation within financial services.
- Strong understanding of global derivatives regulations (e.g., EMIR, CFTC, SFTR, MiFID II).
- Proficiency with reconciliation and reporting platforms such as TriResolve, DTCC or similar.
- Familiarity with OTC derivatives products (e.g., interest rate swaps, FX, credit derivatives).
- Excellent analytical and problem‑solving skills with a keen attention to detail.
- Strong communication skills and ability to collaborate across global teams.
- Proficiency in Excel; experience with data analysis tools (e.g., SQL, Python, Power BI) is a plus.
- Quality client focus, strong controls mind‑set and strong customer services skills (i.e. oral and written communication skills).
- Flexibility to handle multiple tasks and changing priorities.
- Ability to work under pressure and tight deadlines.
What’s it like to work here?
When you join, you’ll become part of the broader Westpac family – where we aim to be a friendly, switched‑on team working for a single purpose – Creating Better Futures Together – it’s what we do, who we are and why we come to work every day. As an equal opportunity employer, we’re proud to have created a culture where people can be their best, in an environment that values diversity and flexibility.
Within Westpac, you will be part of the Institutional Banking division, where our vision is to be a high performing and innovative institutional bank, committed to enabling the growth of our global clients, our economy, and delivering sustainable shareholder returns.
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