Financial Control Issue Management
The purpose of the team is to provide an independent challenge, structured risk assessment process and an enhanced escalation process over Finance reporting controls. This role is a critical resource in the investigation, reporting addressing current control environment across Investment Banking Finance.
The complexity of the business, products and organisation has led to greater emphasis to be placed on Control which is a key theme for Finance and the organisation as a whole. The team is in place to ensure a robust control environment exists within Finance and to address control issues raised by the finance management team. Additionally, financial control concerns as raised by other support areas i.e. Internal Audit and Operational Risk are also within the remit of the Control team. The role requires direct interaction with UK based Finance staff and Senior Finance, Operations, Operational Risk management.
Responsibilities
The Team’s responsibilities require adopting a collaborative yet independent approach which proactively support Finance management in identifying control and process weaknesses and providing tactical remediation/redress. Primary responsibilities are:
• Policy and guidelines
• SOX Review and Challenge
• Co-ordinate compliance of SOX requirements
• Control Issues Management and Reporting
• Co-ordinate improvement action plans for Finance to support Management’s Control Awareness and Control Environment audit ratings
• Support the finance management team in maintaining and improving the control environment for which they are responsible.
• Work with the Business Unit Controllers and Finance functions (Business Aligned role) to maintain a strong balance sheet and controls focused environment in order to ensure issues are identified in a timely manner and addressed accordingly.
Role responsibilities:
The role will form the Control Issue Management Team assisting and working alongside the Head and Deputy Head of Risk Control.
Assist or lead in the resolution of issues identified, to deliver a standard “fit for all” solution where possible and/or appropriate. This could include (but not limited to) assistance with :
• Problematic balances under investigation
• Leverage support from other areas
• Advice on implementing new controls where there are gaps or non-standard divisional controls
• Implementation of new policies / processes / controls
Advise and support Senior Finance management on Control Related matters
Requirements
Essential Experience:
Business knowledge / Skills
• A good understanding of the product, financial and regulatory control function at an investment bank, gained through working in one of these functions.
• The successful candidate will have a professional accountancy qualification with a good degree of understanding relating to current UK GAAP and IAS
• A sound grasp of Control related issues as effecting the finance function of an investment banking organisation.
• Strong Influencing skills – the majority of the work carried out within the team involves interaction with and coorperation from other Finance and Non-Finance functions / teams
• Strong problem identification and resolution skills
• The candidate would preferably have had exposure to Sarbannes Oxley controls reporting.
• Strong accounting skills with demonstrable experience gained within the Financial Services area.
• Awareness of developments in the financial markets and economic factors affecting the market.
• Experience of operating within change function
Technical knowledge / Skills
• Strong ability to understand the rationale, financial and operational risks of business proposals
• Sound business and product aptitude
• Good general understanding of a wide range of banking processes and industry best practices. In particular, how Finance interfaces with other functions
• Strong Excel skills
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