Assistant Vice President – India Local Regulatory Reporting recruitment
Deutsche Bank Finance Smartsourcing Program
Deutsche Bank’s Finance division has relocated significant finance functions into Finance Professional Service Center (PSC) in Mumbai and Manila, and are continuing to relocate roles as part of the New Finance org construct. This represents an outstanding opportunity to join a premier international investment bank and develop a deep understanding of complex investment banking products, international accounting standards and develop close working relationships with DB Finance colleagues and business clients worldwide.
Overview
The Finance division oversees the financial performance of Deutsche Bank. We advise senior management on the financial performance of all the areas of the bank. Finance is also involved in initiatives to help to lower costs, manage risk and improve performance. We deliver information to our shareholders, creditors, tax authorities, regulatory authorities, and auditors.
This role encompasses the following key functions:
- Closing and Financial reporting –Local GAAP reporting for India GAAP – to RBI and other regulatory bodies.
- Control over legal entity financial information in regard to India GAAP
- Financial analysis covering the GAAP and other submissions to local / statutory / regulatory bodies.
- External reporting relationships such as regulators and external auditors
- Engagement in change of systems and processes
- Country packs for operational reviews
This has oversight responsibility for the integrity (completeness and accuracy) of financial statement/regulatory reporting information recorded in Books and records for various divisions / legal entities of DB. This requires collaboration with the on shore finance teams and lines of business controllers that have activity in that division / legal entity, so as to ensure that divisions/ legal entity’s implications (e.g., accounting policy, regulatory reporting, capital) of transactions are considered.
Key responsibilities of the role
• Month end close for local GAAP reporting
• Accounting and reporting for via the onshore CFO function and the preparation of financial statements under the India GAAP and support of external audit work required.
• Preparing any other relevant sub-consolidation for financial reporting purposes for review by the appropriate CFO function, if applicable.
• Maintaining mapping rules and similar data to support the preparation of regulatory reports to be reviewed by the relevant onshore CFO function.
• Participate in Finance system or process enhancement initiatives
• Participate in LEC control initiatives, including General Ledger Reconciliation and Substantiation and LEC metrics
• Exception management including reconciliation and break resolution
• Assist to drive process changes in the team to be more efficient and ensuring we still operate in a controlled manner
The candidate must be a highly-motivated individual and must be able to handle a levels of complexity in their product coverage or area under control, be able to shift focus of task with relative ease and be flexible enough in shifting workload in accordance with changing priorities, and be comfortable dealing with a sometimes stressful and fast-paced month end priority-driven environment.
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The Role
Corporate Title: Asst Vice President
Main Responsibilities:
Domain Management Managing resources and ensuring its optimal utilization
Client Management Managing the day-to-day relationship between Supplier / Customer and DBOI Finance
People Management Ensuring that staff are highly motivated and perform to potential
Education Standard: Qualified Chartered Accountant
Experience: 8+ years working experience (preferably in Finance teams of banks, investment banks or professional accounting / audit firms or in a similar capacity in a BPO / KPO center).
Require knowledge of RBI reporting returns like DSB, Basel, Form A etc.
Month end accrual adjustments for provision and regular standard adjustments.
Preparation of Financial Statements( having independently finalised atleast 2 year end cycles)
Detailed knowledge of Indian Accounting Standards
Computation knowledge of Income Tax, and Service Tax.
Prior experience in a controllership role is required.
Prior automation / project management or change management experience in related area preferred
Soft Skills
Communication
• Ability to communicate effectively (oral written)
• Focused on providing timely and quality output
Analytical abilities
• Displays a high degree of control awareness
• Has a natural intellectual curiosity
• Attention to detail
• Strong analytical / business problem-solving skills
Time management skills
• Well organized able to clearly present results of work
• Ability to work under pressure and to deadlines
• Ability to manage own time
Drive and Motivation
• Passion for change and confidence in own abilities
• Be comfortable willing to drive process improvement
• Diligent, thorough, shows initiative and is proactive
Personal Qualities: Proactive, attention to detail / quality of work, able to cope with pressure and deal effectively with demanding clients. Ability to challenge status quo.