Subject Matter Expert (IFRS) recruitment
Job title: Subject Matter Expert (Finance)
Job Number: 612086
Department: Finance
Location: London
A Passion to Perform. It’s what drives us. More than a claim, this describes the way we do business. We’re committed to being the best financial services provider in the world, balancing passion with precision to deliver superior solutions for our clients. This is made possible by our people: agile minds, able to see beyond the obvious and act effectively in an ever-changing global business landscape. As you’ll discover, our culture supports this. Diverse, international and shaped by a variety of different perspectives, we’re driven by a shared sense of purpose. At every level agile thinking is nurtured. And at every level agile minds are rewarded with competitive pay, support and opportunities to excel.
Overview
Deutsche Bank is a leading global investment bank with a strong and profitable private client franchise. With over 80,000 employees in 72 countries it provides unparalleled financial services throughout the world. The Corporate Investment Bank (CIB) Group Division is responsible for Deutsche Bank’s capital markets business, comprising the origination, sales and trading of capital markets products including debt, equity, and other securities.
This role sits within the CIB Finance team. The role of the Deutsche Bank Finance function has evolved and expanded. The Finance Transformation Program set out to create a more efficient and effective function that provides a higher level of service to its stakeholders. The result is a Finance function which no longer performs production roles onshore, is the recipient of accurate data and reporting from various service groups, and focuses on validation and meaningful analysis.
Part of the role of Finance is to assess the impact to Deutsche Bank of upcoming changes in International Financial Reporting Standard (IFRS) accounting standards. The new accounting standards could significantly change the size and constitution of Deutsche Bank’s balance sheet, as well as timing of Profit and Loss (PL) recognition and the complexity and volume of notes to the financial statements.
Deutsche Bank must meet the schedule of effective dates currently being finalised by the International Accounting Standards Board (IASB). A crucial part of Group Finance’s role is to proactively partner with front office to help them adopt the new accounting treatments for existing trades, advise them on remediation options to existing and new trades and enable them to take action before the standards become effective.
Key Responsibilities
You will be a key member of the CIB Finance team working on the IFRS 10 consolidation impact to Deutsche Bank and will focus on the new consolidation standard IFRS 10 which will have an effective date of 01/01/2013. Tasks involved in the implementation of new standard include:
- Review existing trade write ups and source documentation for structured trades / Special Purpose Vehicles (SPVs) to reach an opinion as to whether to consolidate in simple cases and escalate as appropriate.
- Reach out to necessary stakeholder groups to gather information required to confirm consolidation decision.
- Liaise with Accounting Policy Advisory Group (APAG) on entities, flagging issues and working on resolution of consolidation decision.
- Advise the business on remediation options.
Within this role, you will become a Subject Matter Expect in the implementation of the new IFRS standards. You will be aligned to a specific business line within the CIB Finance team: Global Equity, Global Rates, Global Credit or Global Foreign Exchange (FX).
You may also cover the implementation of other new IFRSs for CIB (For example IFRS 12 and IFRS 13).
Candidate requirements
You will have:
- A high level of accounting experience particularly in consolidation, preferably IFRS
- Significant investment banking experience particularly performing the accounting analysis on structured trades and funds.
- Experience of reading trade write ups and trade source documentation.
- Strong communication skills, both written and verbal
You will be:
- Degree educated or equivalent
- A Qualified Accountant or equivalent
Deutsche Bank is an equal opportunity employer who seeks to recruit and appoint the best available person for a job regardless of marital/civil partnership status, sex (including pregnancy), age, religion, belief, race, nationality and ethnic or national origin, colour, sexual orientation or disability.
Normal travel expenses will not be incurred by Deutsche Bank.
Please let us know if you require any adjustments to enable you to apply or attend an interview. If you would like to discuss your requirements, or have any concerns about the application process, please contact your recruiter.
Please note that for the duration of this assignment you will be working as an external resource engaged by Resource Solutions based on site at Deutsche Bank.