Financial Control & Regulatory Manager
Chief Operating Officer, Singapore
Principal Responsibilities, Accountabilities and Deliverables of Role:
- Proactive role in driving high quality finance function at the branches.
- Balance the responsibilities of stewardship with business partnership.
- Act as an Integrator and navigator for all finance related issues.
Key responsibilities, accountabilities and deliverables:
Plan and manage workflow in Finance department in Singapore initially and then in Hong Kong:
- Assess the needs of the department and communicate these to the General Manager
- Set up systems in the new units and ensure unit is operational as far as Finance is concerned
- Set up, onboard all aspects of finance reporting and Internal Controls
- Ensure accurate and timely general accounting, a/p and fixed assets
Ensure that operational losses or errors are minimized and that all procedures set up are adhered to:
- Foster timely, efficient and error-free processing.
- Review operational controls to determine if controls require improvement.
- Review any new products or changes to existing products to ensure that we have the proper systems/controls to support the business.
Coordinate the preparation of HO reports including statutory reporting packs, MIS packs including forecast and annual budgets:
- Prepare reports to HO - Both Statutory and MIS
- Partner with all RM's and produce a forecast and budget pack for review by GM
- Review plan results with recommendations to the GM
- Submit final Plan to HO and handle follow up issues
- Liaise with Bank regulators - on all regulatory, reporting and examination issues. Liaise with external auditors on the financial review.
- Plan the various regulatory returns required in both Singapore and Hong Kong and set up systems to extract the data.
- Do accurate and timely reporting to Central Banks and other regulatory Agencies
- Research and implement new/updated regulations and reporting requirements
- Prepare quarterly IFRS financial statements and liaise with the external auditors
Ensure adherence to all Compliance/KYC regs as well as Branch tax matters:
- Back up to Compliance Officer
- Ensure department compliance with all P&P
- Ensure compliance with tax reporting, filing and payment involving EY or other advisors as required
Change drivers/Organizational health:
Develop staff to continue to exceed requirements and diversify roles and backup:
- Regular counseling for staff
- Cross train
Coordinate reporting automation to enhance information flow and utility:
- Evaluate need for any potential reporting upgrades.
- Liaise with local IT and HOGIT on systems issues
- Ensure adequate planning, testing and controls in implementation
Leadership and Management:
- Clarifies accountabilities and empower staff to take ownership of issues
- Work closely and coach staff to encourage their involvement in FC issues
Drive effective performance management:
- Achieve real differentiation in performance evaluation of staff.
Monitor Operational Risk for IC/FC:
- Review controls for any Op Risk exposure
- Completion of RCSA review
Culture and Behaviors
- Good knowledge of local culture and keep abreast of regional market conditions
- Behavior expected of a thorough professional
Risk, Compliance & Business Continuity:
At all times, act with due care, skill and diligence to ensure compliance with risk culture, policies and procedures, Code of Conduct and Values.
Ensure a climate of openness, transparency and accountability for compliance with external regulations and internal risk policies and procedures, where issues are raised and escalated, as appropriate and required, in a timely manner.
Ensure that stakeholders and reports are educated on risk and compliance matters, and that all employees in reporting line complete mandatory training to schedule.
Ensure that policies and procedures for your area(s) of responsibility are clearly documented, stored in an accessible manner, and kept up to date.
Participate in exercises to rehearse the banks response to an emergency situation (i.e. evacuation exercises and Business Continuity tests)
Job Context (Circumstances & environment surrounding the job):
The jobholder is to oversee all finance matters of the Asia business and branches acting as a business partner to the Branch GM/COO in designing and implementing strategic business plans, establishing related financial processes to enable and track performance management and ensuring the implementation of an effective risk and control culture and environment .
- 15+ years banking experience of which 5 are managerial.
- Thorough accounting professional with good business acumen
- Heavy experience in bank accounting, planning and analysis
- Strong management and communication skills
- Strong understanding of IFRS, Basel and all other prevailing banking practices