I’m currently working in regulatory reporting for a retail bank. I am responsible for the timely and accurate preparation and filing of various financial regulatory reports in compliance with Hong Kong Monetary Authority regulations, making sure that the bank has enough capital to absorb a reasonable amount of loss.
I started my accounting journey at university. I chose accounting as my major based on my belief that accounting is the foundation for the development of all industries and the global economy.
I enjoy my job and it’s fun for me to do as it’s not just accounting. A significant part of my job responsibilities involve risk management. Considering the adequacy of capital requires taking into account credit risk, market risk, operational risk and sovereign risk.
To meet all these challenges, I have to be innovative
I also find my job challenging. The reporting process can be complicated and timelines quite tight. I need to collect data from different sources to ensure the depth of information acquired meets all statutory regulations.
In my opinion, the profession in China is so much more advanced than the rest of the world. The current big trend in Hong Kong is fintech.
The automation of regulatory reporting is not a new idea. It has already been applied in many daily jobs, saving a lot of manual labour and increasing work efficiency significantly.
We require sizeable amounts of raw data from multiple sources to evaluate the operations and health of a bank. Complying with statutory legislation also requires that we keep banking systems updated. In addition, an effective way to cross-check the accuracy of data extracted from different sources and reports is required.
To meet all these challenges, I have to be innovative. I need to learn new technologies and working tools, and push for automated regulatory reporting to take off. This is so that I can be more efficient and have a better work-life balance.
I’m still learning and improving, so the only advice I can give is to dream big and work hard. Hard work will never fail you.
Outside of work, I enjoy boxing. It just washes away my negative feelings and gives me strength to handle everything life throws at me.
