IFRS Consolidation Controller recruitment
Position Description
The Corporate Financial Controllers group is responsible for the production of a significant proportion of Morgan Stanley’s UK external financial reporting and the internal reporting, coordination and analysis to support this. The reporting covers the consolidation of the UK Group under UK GAAP which comprises 200+ entities and the consolidation of the MSIP subgroup under IFRS which has c.140 companies.
This is a period of significant change in both Morgan Stanley and in the external financial reporting environment. As a result the role requires strong technical and organisational skills to manage the reporting and analysis and leadership/change management skills to adapt to external reporting changes and the additional demands that Morgan Stanley now makes on the Controllers function.
Key responsibilities include:
Preparation of Financial Statements
- Annual financial statements for the MSIP group prepared under IFRS (Group) and UK GAAP (Company).
- Annual financial statements for the MSI group prepared under UK GAAP (of which the MSIP group is a subset).
- Interim financial statements for the MSIP Group under IFRS.
- The reporting includes the preparation of the relevant board and management briefing packs.
FSA Capital reporting
- Assisting Regulatory controllers with the FSA capital requirements by providing quarterly reporting for three separate consolidated groups
Legal entity controller for some entities within the MSI Group.
- Validation and reconciliation of balance sheet and PL movements under both UK and US GAAP.
- Central point of contact for all other legal entity controller information requests (Corporate treasury, tax etc).
- Federal Reserve reporting on a quarterly basis.
Population of the groups
- including determination of subsidiaries, associates, joint ventures and non-controlling interests.
- maintenance of the group structure.
Office for National statistics reporting
- done on a quarterly basis and reports on the UK Group on the transactions with its Parent
Ad hoc reporting / requests.
- the current regulatory and financial accounting environment is experiencing a lot of change and this role would have to adapt in line with the ever changing requirements.
Up to date accounting knowledge and need to keep up to date with accounting developments to reflect changes.
Skills Required
- Strong IFRS / UK GAAP skills would be a significant advantage for candidates. The ideal candidate would be a qualified accountant (ACA/CIMA or equivalent) with good IFRS / consolidation accounting as well as financial services experience.
- Ability to take a technical accounting issue from inception to resolution is key
- Good MS Office skills (especially Excel).
- Good communication and networking skills required to liaise with / influence all areas that impact the various consolidations.
- Strong analytical skills.
- Good written and verbal communication skills
- Self-starter, comfortable with working autonomously when necessary. Comfortable with change management situations.
- Strong organisational skills are essential.
- Fast learner with a flexible approach to work.
- Willing to take on additional responsibilities.
- Ability to present to senior finance management.
The ideal candidate will be a qualified accountant (or equivalent) and experienced in producing financial accounts in an Investment bank. There is also a dependency on various stakeholders to contribute to the accounts, so the ability to influence and cooperate with people at all levels in the firm is key.