Job Details
Job Description
Register Your Interest - Financial Regulatory Reporting Placement
Primary Purpose of the Job
Within the Finance function, the Regulatory Reporting team has responsibility for the production and delivery of all existing, new and future regulatory, and related reporting, covering VWFS UK, VW Bank GMBH (UK Branch) and the new Retail Savings Bank entity being established.
The Regulatory Reporting team work across the business and with the Headquarters regulatory team in order to deliver a first-class regulatory reporting function, ensuring continued regulatory compliance and adherence to strict reporting deadlines.
Reporting to the Regulatory Reporting Manager, this role is split between daily operational duties and monthly tasks to deliver accurate and complete supporting schedules for regulatory submissions (Bank of England (BoE), Office of National Statistics (ONS), Financial Conduct Authority (FCA), European Banking Authority (EBA), Headquarters requests and management accounts.
Main Responsibilities
- Contribute to the preparation of VWFS UK Ltd. and VW Bank UK Branch Regulatory Reports for submission to HQ, including liquidity, solvency, exposures and deposit guarantee reporting.
- Preparation of VWFS UK Ltd. regulatory and statutory submissions to the Bank of England, Financial Conduct Authority and Office of National Statistics.
- Contribute to projects as required, specifically regulatory related, with expected increases in reporting burden, need for data quality reviews on inputs, logging of data in the entities’ CONNECT database, and preparation of tactical/manual solutions temporarily whilst they are automated.
- Assist with activities during and after the establishment of VW Savings Bank (UK) Ltd, requiring; interpretation of and adherence to requirements from the regulators, implementation of regulatory reporting software and data enhancements.
- Contribute to the review of accounts and update of regulatory submissions with all changes as required by the regulator, HQ and the Bank team.
- Ensure all deadlines, data controls and review processes are complied with and exceptions fully documented (as specified by HQ, internal audit and external parties).
- Ensure all procedure documents, ARIS Maps and IDP documentation are up to date and reviewed in accordance with guidelines.
- Deal with ad-hoc queries arising from the various submissions mentioned above including working alongside the VWFS and Bank teams and HQ to promptly respond to and explain regulatory queries.
- Build productive relationships with stakeholders, including internal colleagues and HQ colleagues.
- Completion of balance sheet reconciliations.
- Involvement in both external and internal audits.
- Other ad-hoc investigations and analysis tasks as directed by the Regulatory Reporting Manager.
- Support the wider reporting teams with tasks, knowledge sharing and training.Cross training on tasks to support and ensure cover exists.
Principal Contacts / Working Relationships
Customers
Head Office Regulatory Reporting Team (Monthly)
- Ensuring good workings relationships are built to allow for timely and accurate resolution of queries, requests and implementation of new requirements.
VWFS and VWB Compliance Team (Quarterly)
- Ensuring good workings relationships are built to allow for timely and accurate resolution of queries, requests and implementation of new requirements.
Internal and External Auditors (Annually and Ad Hoc)
- To be a contact for all audits involving regulatory reporting fulfilling requests for data and resolving queries by agreed deadlines. Ensure all actions are completed, documented and closed to ensure no repeat findings
Office for National Statistics
- Inform and agree any changes required to statistical reporting, manage deadlines and submission timescales and answer queries as required.
Data Providers
Banking Services Team (Monthly)
- Build good relationships to ensure timely receipt of data and resolution of queries.
Accounting Team
- Build good relationships to ensure timely receipt of data and resolution of queries. Understand the financial information to enable commentary and trend analysis to be supplied with various submissions.
Treasury Team (Monthly)
- Build good relationships to ensure timely receipt of data and resolution of queries.
Risk Team (Monthly)
- To understanding the risk models that impact on financial data and the drivers behind the modelling to enable commentary and trend analysis to be supplied with various submissions.
Decision Making Scope
Ensuring changes to data and processes are made in accordance with the requirements of the business (both VW Bank GmbH and VWFS UK Ltd.) in a timely manner and are communicated to all stakeholders; while ensuring accounting treatments are considered and changes are appropriate.
- Ensure changes to regulatory and statistical returns are made accurately and in a timely manner (with support from the Regulatory Reporting Manager).
- Ensure effective communication and the escalation of issues as appropriate.
- The resolution of queries in a timely manner.
- There is focus on process streamlining and the role holder will be required to critically review process and propose and manage improvements.
Key Challenges
- Independently managing workload and ensuring daily critical tasks are completed in line with tight timelines.
- Ensuring good quality data is received and outputs are accurate while working under pressure to meet tight deadlines.
- Dealing with different requirements for the various submissions, including investigating and explaining differences that exist to ensure consistency. Prioritising and managing time to ensure this is all completed.
- Identifying changes to the process of collating submissions to identify efficiencies and improvements in accuracy.
- Gaining knowledge of both the Financial Reporting and Regulatory Reporting Landscapes and Regulatory Forms.
Education, Training and Experience
- Working towards an Accountancy & Finance or Economics related degree or qualification,
- Intermediate level of excel.
Skills and Personal Characteristics Required
- Ability to work flexibly under pressure and deliver to strict deadlines.
- Eye for detail and focus on accuracy and statistical problem solving skills.
- Competent use of Microsoft office products, particularly Excel.
- Some knowledge of accounting systems and databases would be advantageous.
- Knowledge of balance sheet account reconciliations and controls.
- Self-motivated and a strong team player who is open new challenges.
- Strong communication skills to collaborate both internally and externally and across different levels within the business.
- Confident in stakeholder management.
- Able to drive change and process improvement.
Career Path
Equivalent jobs which could constitute lateral moves:
- Procurement Controller (Band 3)
- Cash Processing Assistant (Band 3)
On leaving this job, a job that would be considered a promotion is:
- Assistant Financial Accountant (Band 4)
How to register
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Job Details

About Volkswagen Financial Services
To truly meet the mobility needs in a changing world, our offering goes beyond traditional vehicle financing. We offer a range of finance and aftersales products on Volkswagen Group vehicles, alongside developing innovative mobility products designed to solve real problems.
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About Volkswagen Financial Services
To truly meet the mobility needs in a changing world, our offering goes beyond traditional vehicle financing. We offer a range of finance and aftersales products on Volkswagen Group vehicles, alongside developing innovative mobility products designed to solve real problems.
View Company ProfileCompany Rating
Rating based on 141 Reviews
This score is based on honest feedback written by students who’ve worked at Volkswagen Financial Services.
See All ReviewsCompany Rating
Rating based on 141 Reviews
This score is based on honest feedback written by students who’ve worked at Volkswagen Financial Services.
See All Reviews