Financial Reporting & Internal Controls Manager recruitment

Overall Job Purpose

The team is responsible for the effective management of the Financial Reporting Governance across the Bank. This entails:

• providing expert guidance to various stakeholders to achieve governance best practices in a value added manner

• performing an oversight monitoring of the Financial Reporting Governance framework compliance across various Business Unit's (BUs)

• providing regular reporting to senior stakeholders (Financial Controller, Governance Control Committee, Board Audit Committee, etc)

As part of this governance framework, the team owns the SOx methodology and is responsible for monitoring the identification, status and resolution of Financial Reporting control issues.

On a quarterly basis, the team coordinates:

• the SOx control issues reporting process that leads to the escalation of any significant issues to senior Group Governance committees

• the Group General Ledger Controls process (Numeric Attestations); this is the Account Ownership and Reconciliation (AOR) process which ensures that account balances have been adequately reconciled and verified, thereby providing assurance to the Board of Directors that financial statements are materially complete and accurate

• the Financial Reporting Key Risk status assessment, which is escalated to the Operational Risk committee.

The Role is to support the team's oversight of the various Business Units (BU) on an ongoing basis, and contribute to process improvements, with particular emphasis on:

• coordinating the operational element of the Group's Numeric Attestation (AOR) process, which is done via a centralized Tool owned by the team.

• facilitating the coordination and improvement of the quarterly Financial Reporting Key Risk (FRKR) oversight and monitoring process.

• assisting in developing further the relationship with BUs and contributing to an even stronger partnership going forward.

The role covers the following areas:

A) Business Unit's control environment oversight and monitoring in the context of Financial Reporting Key Risk and including SOx compliance

B) Accounts Ownership and Reconciliation (AOR) Process

C) Ad-hoc tasks

Key Accountabilities:

Financial Reporting Key Risk oversight including SOx (50%)

Under the supervision of the Associate Director, meet the following responsibilities and accountabilities:

• Contribute to the annual Group SOx Methodology and Financial Reporting Key Risk framework refresh.

• Prepare the annual SOx and Financial Reporting Key Risk Activities Calendar and communicate it to BUs.

• Manage the Financial Desegregation and Notes Scoping process to determine the in-scope SOx balances and disclosures across the Bank and resolve queries/ issues.

• Perform Design Effectiveness Assessment (DEA) and Operating Effectiveness Testing (OET) of Group Entity Level Controls (ELCs). 

• Prepare the quarterly SOx Controls attestation instructions and communicate it to the BUs.

• Arrange the quarterly SOx Owners Review meetings; collate the review packs and minute taking.

• Monitor and follow up with BUs on the MI SOX testing progress. 

• Manage the SOx and Financial Reporting Key Risk Intranet Portal.

• OPUS (repository financial control system) - regularly interact with the OPUS support team to ensure that SOx requirements and impacts are taken into account before any planned system changes are implemented. 

• Ensure that the team is recognised across the Bank as a centre of excellence for SOx compliance.

• Coordinate the Financial Reporting Key Risk Dashboard collation and consolidation process and support the Head of the team with 1:1 BU Finance Director meeting preparation.

• Assist in the quarterly reporting of Financial Reporting Key Risk assessment to Group Operational Risk.

• Identify and drive process improvement initiatives whilst taking into account feedback received from BUs.

Account Ownership Reconciliation (40%):

• Manage and coordinate the Group AOR process

• Contribute to the annual AOR Policy refresh;

• Send AOR Instructions and Timetable e.g. attestation deadlines, collation dates, trial balance date;

• Update the Company code/ Statutory Unit Profit Centre lists (Quarterly);

• Ensure AOR Portal is up-to-date with guidance, attestation documentation, time lines etc,;

• Liaise with BU / Functions to ensure all AOR attestations are received timely;

• Provide Metric Key Indicator information for the Financial Reporting Key Risk Dashboard

• Identify and drive process improvement initiatives whilst taking into account feedback received from BUs.

• Ensure that implications of any planned financial reporting system changes on AOR are duly considered.

• Manage the relationship with the off-shore team in India which operates part of the process on our behalf.

• Act as a Subject Matter Expert for queries raised by the BUs (AOR champions).

• Update all SOx documentation and ensure relevant evidence is available for Management and external auditor's testing.

Ad-hoc tasks (10%):

• Assist the line manager in addressing ad-hoc queries or requests for Group Oversight committees and/ or projects to be delivered at short notice.

Certification Requirements:

• Accountancy diploma - ACCA / ACA, CIMA

Skill Requirements:

Technical skills

• Strong understanding of financial reporting governance matters

• Detailed understanding of the Bank’s SOx methodology and Internal Control and Assurance Framework

• Ability to understand, implement and drive improvements to a risk control framework

• Strong Microsoft Excel skills

• Overall understanding of 'minimum standards' for SOx and control issues reporting

• Good understanding of the financial services industry, its control environment and structure of a bank's financial statements

Control environment

• Ability to review and challenge perceived weaknesses or failures in the control environment, raising questions with the business or through line management to develop understanding of the situation and identify issues

Commercial effectiveness

• Manages conflicting demands and priorities through stakeholder engagement, effective planning and sound judgment

• Challenges current practices by thinking about the longer term impact and wider implications and proposes alternatives