AVP - IFRS 9 - Financial Instruments - BFSI

IFRS 9 - Financial Instruments is the most significant accounting change since the initial adoption of IFRS. It aims to replace IAS 39, which is currently applicable for financial instruments accounting. IFRS 9 has three important strands, namely Classification & Measurement, Impairment and Hedging. Of, this the Impairment is the most significant change as it entails a move from an Incurred Loss approach to an Expected Loss approach. This entails various activities around model development, calculation engine build out, data and systems interface and agreement on accounting treatment and related policies/processes. Similar to recent trends such as those noted in Basel III/CRD IV implementation, this requires a high level of Finance and Risk interdependency and is therefore being driven as a joint risk-finance implementation programme with strong visibility and sponsorship at the Board level. This role is focused on establishing and operating a Centre of Excellence (IPAC) to drive the production and analysis of Impairment related information, both from an accounting perspective and to facilitate enhanced risk management. Further, given its linkage to initiatives such as the RWA production and management and stress testing, this will from an operational level necessitate working closely with these streams and also leveraging off common data platforms, standards and utilities

Role Summary

The key responsibilities for this role include:

- Support the designing of a robust and fit for purpose process to generate Impairment related data and metrics in constant engagement with the stakeholders and team members

- Engage with and manage relationships with key stakeholders

- Align with other workstreams such as RWA production and Stress Testing to provide inputs in building common data platforms and utilities.

- Active participation in User Acceptance Testing to drive consistency and efficiency

- Review and validate data against expected quality criteria, log, investigate, escalate and resolve data quality issues

- Perform manual amendments, enrichments and overlays to ensure that the data is of the desired quality

- Analyse key changes and identify business drivers to facilitate analysis and commentary for group disclosures and to address market expectations/queries.

- Facilitate data sign-off by the CROs & CFOs

- Support and guide colleagues through knowledge sharing and coaching interventions and facilitating transparent communication including with stakeholders