Kaizen Reporting has announced that Jonathan Lee is to head up its recently-formed SFTR-related operation. The former Fixed Income Regulatory Reporting Manager at JP Morgan Chase is a leading voice on regulation and specifically on SFTR. Lee was previously head of the International Capital Markets Association (ICMA)’s SFTR taskforce and has spearheaded industry responses and discussions related to the challenges it brings. With more than 10 years of regulatory reporting experience and 9 years as an Interest Rate Strategist at Barclays Capital under his belt, he will be tasked with working with Kaizen’s clients to ensure it offers the same high level of service for SFTR as it does for regulations such as MiFID II and EMIR.
SFTR is a new reporting obligation aimed to bring transparency to the securities financing industry and shadow banking sector. Kaizen’s existing client base of tier 1 and 2 banks, fund managers and brokers increasingly consider SFTR a top priority. Lee joins Kaizen in the middle of an exciting period of expansion for the quality assurance firm and the new SFTR section further bolsters its team of regulatory reporting experts and data scientists.
Holding an MSc in International Securities, Investment and Banking from the ICMA centre, Reading University, Jonathan’s role of Chair of ICMA’s European Repo & Collateral Council (ERCC) taskforce on SFTR has meant working closely with industry participants, ESMA, ECB and FSB on implementation, giving him a truly unique perspective on the intricacies of the regulation and making him an invaluable asset to financial institutions. Endorsement of the final draft Regulatory Technical Standards by the European Commission is expected imminently and the estimated go-live of SFTR transaction reporting is expected up to 15 months after that.
Dario Crispini, CEO of Kaizen, commented: “We are delighted to bring someone of Jonathan’s calibre on board. We want to ensure that our clients are prepared well in advance for SFTR transaction reporting go-live. Jonathan will work with our clients on their SFTR preparedness and internally with our data scientists to develop testing and reconciliations so that our clients have the same confidence and assurance for SFTR as they currently enjoy with MiFID II, EMIR and other G20 regulations. I am pleased to welcome him to the team.”
Ian Rennie, Managing Director, added: “SFTR is the next big challenge in the reporting space and anything that is of primary concern to our clients is of course of equal concern to us. I’m excited to have enlisted Jonathan, whom I see as the best person for the job. He clearly has extensive and specialised knowledge of SFTR as well as wide-ranging influence and experience in the industry.”
Jonathan Lee said: “Kaizen is growing rapidly and is working with a wide range of clients for whom SFTR is becoming increasingly important. I’m looking forward to joining such a knowledgeable team, and I am very much looking forward to working with our clients.”