AVP - Financial Control - Transfer Pricing - Bank

Job Title:

Financial Control : Transfer Pricing - Assistance Vice President

Client: Large European Bank

Location : Chennai

Job Purpose:

Transfer Pricing (TP) ensures that all cross-border and cross entity transactions / services within the firm are reflected in the appropriate tax jurisdiction, carried out in adherence to a consistent arm’s length framework and in conjunction with the best practice approach in line with all applicable regulatory requirements.

The Revenue Transfer Pricing process repatriates Profit and Loss back to the entity that is bearing the risk. Sales Credit TP on the other hand ensures that the entities that are bearing the costs of the Sales team are appropriately compensated by the entity recording the revenue. The risk of not doing so is that one or more tax authorities may dispute the measure of revenues or costs in one or more Bank entities. They may either seek to deny a tax deduction for costs or impute additional income for tax purposes to such entities.

The Finance Transfer Pricing staff is responsible for ensuring implementation of arrangements regarding revenue transfer pricing and sales credit. The staff is also responsible for coordinating the settlement and accounting of these transactions across the Bank’s world

Accountabilities:

The key responsibilities of the Transfer Pricing AVP are

Perform calculations around transfer pricing and sales credit based on the inputs from tax and dataset received from multiple systems. This includes but not limited to

- Source the inputs from various stakeholders including sales finance and tax

- Performing the Central Transfer calculations

- Perform the sales credit settlement calculations

- Perform the offline manual transfer pricing calculations

- Coordinate with the entity controllers and tax to have the computations signed off

- Coordinate with the TPCE entity controller for performing FX trades and settlement

- Complete the accounting related to transfer pricing and sales credit

- Resolving inter-co mismatches and attestations in the Eliminations database

- Preparation of account substantiations and reconciliations for monthly Account Ownership

Ensure compliance to various policies and procedures applicable to transfer pricing

Support entity controllers on transfer pricing related issues

- Providing details and substantiation on amounts booked and settled.

- Support on details required for tax audits and other audits.

- Lead projects on improving efficiency and controls in the process

Technical Knowledge

Essential:

- Qualified Accountant - CA, CPA, ACCA

- Strong academic background – 1st /2nd class honours, minimum bachelor degree from a reputable institution

Preferred:

- Qualified Accountant from big 4 firms

Experience

Essential:

- 5 to 8 years post qualification experience

- Background in Finance / Banking

Preferred

- Experience in Intercompany Recharges / Transfer Pricing

Skills Required

Essential:

- Strong control awareness.

- Enthusiastic, motivated, self-starter, team player.

- Good IT System skills;

- Strong interpersonal skills and excellent communicator.

- Desire to provide top quality service to internal clients.

- Willingness and ability to take ownership of issues and manage through to a successful resolution.

- Maintains good customer relations

Team Player

Preferred:

- Experience of working in SAP financial accounting or investment banking middle-office / back-office accounting and settlement systems.

Language

- Ability to speak / write English fluently

Interested Candidates please email your resume at resume@execuzen.com

Dhananjay Palange
Execuzen Consultants Pvt Ltd.
12, Vaswani Mansion, Dinshaw Vacha Road, Churgate Mumbai 400020
T: +91 226 625 3000
M: +91 998 763 8697