Company
Grovelands Resourcing LimitedLocation
UK-LondonRemuneration
300-400drPosition Type
ContractEmployment type
Full timeUpdated
04-Nov-2013eFC Ref no
1302178
Large retail bank searching for newly
qualified accountants to join their Interest Rate Hedging Products
Redress Team as a Financial Consultant. Up to 2 years experience in Big 4
accountancy or bank required. 6 month contract, competitive day rate.
The Business:
Corporate
Banking (CB) is the division for the UK’s Corporate & Institutional
Banking (CIB) and Business & Commercial Banking businesses
(B&C) and Customer Service Solution Group (CSG).
Corporate
& Institutional Banking provides debt financing, risk management
and investment services to major corporations and financial
institutions, as well as Trustee Depository Services and Shipping
businesses.
Business
& Commercial Banking provides small and medium sized UK businesses
with support through a comprehensive range of tailored products and
services, and a network of branch-based business advisers.
Customer
Solutions Group comprises of the Specialist Businesses in the Corporate
Banking Division which includes Lombard, Invoice Finance, UK
Transaction Services, Mentor and the Deposits business.
The Role:
The
Bank is undertaking a review of the sale of Interest Rate Hedging
Products (IRHPs) to Retail customers as part of a Section 166
undertaking by the Financial Services Authority (FSA).
This
role will sit within the team responsible for the calculation and
fulfilment of redress to the Bank’s customers identified for inclusion
in the review.
The
key challenges are to identify, quantify, validate and present a number
of aspects of the customer redress calculation in line with an agreed
methodology, in a timely, accurate and cost effective manner.
The role will be supporting Team leader in a number of activities in respect of assessing the redress for the customer:
• Confirming and comparing cash flows on both the original and replacement IRHP (if applicable)
• Confirming the validity and quantum of any customer testimony provided for consideration in the redress decision, in conjunction with the File Reviewers as well undertaking the customer file investigation, including:
o Sourcing relevant data
o Modelling cash flows over the life of the IRHP
o Comparing customer testimony with Bank or other third party records
o Performing calculation of interest
o Performing assessment of customer restructuring in an alternate scenario, working closely with Relationship managers
• Ensuring a 'no surprises’ approach through anticipating, highlighting and addressing any issues identified.
• Preparing appropriate customer communications to explain redress decisions to the customers
• Acting as a credible, respected key contact and actively manage stakeholders expectations
• Liaising with stakeholders across Corporate Banking Division and other Divisions to determine impact of redress proposals
• Confirming and comparing cash flows on both the original and replacement IRHP (if applicable)
• Confirming the validity and quantum of any customer testimony provided for consideration in the redress decision, in conjunction with the File Reviewers as well undertaking the customer file investigation, including:
o Sourcing relevant data
o Modelling cash flows over the life of the IRHP
o Comparing customer testimony with Bank or other third party records
o Performing calculation of interest
o Performing assessment of customer restructuring in an alternate scenario, working closely with Relationship managers
• Ensuring a 'no surprises’ approach through anticipating, highlighting and addressing any issues identified.
• Preparing appropriate customer communications to explain redress decisions to the customers
• Acting as a credible, respected key contact and actively manage stakeholders expectations
• Liaising with stakeholders across Corporate Banking Division and other Divisions to determine impact of redress proposals
Essential Experience :
• Newly qualified accountant
• Up to 2 years working experience post qualification in Big 4 accountancy or a Bank
• Capability to understand a series of unique situations and their impacts on each other
• Corporate Banking or Interest Hedging Products Exposure a benefit
• Experience/ knowledge of LIBOR loans would be a huge benefit
• Ability to operate effectively within an environment of change
• Confident to operate independently and demonstrate flexibility
• Capability to understand a series of unique situations and their impacts on each other
• Corporate Banking or Interest Hedging Products Exposure a benefit
• Experience/ knowledge of LIBOR loans would be a huge benefit
• Ability to operate effectively within an environment of change
• Confident to operate independently and demonstrate flexibility
Those people are playing an important role which is a part of it and on daily basis when we see how its manageable taking things ahead is a need tanner mainstain is what that helps me the most with all my financial needs.
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