VP - Legal Entity Control - BFSI

VP– LEC (Legal Entity Control)

MNC Bank Shared Services Center

Location-NCR

Legal Entity Control Service Line is a newly established team that shall be working along the Legal Entity Control team in the various Corporate Centre hubs across the bank The team has end-to-end responsibility for the financial affairs of the various Legal Entities in the banking Group Structure, including monthly reviews and commentary, statutory reporting, capital requirements, and dividend calculations. The LEC team also is responsible for preparing the Financial Statements for their cluster of legal entities and ensuring high standard and correct disclosure and co-ordinating the external audit of the subsidiary accounts.

KEY RESPONSIBILITIES

Legal Entity control

The principal focus of the team is management of the legal entity control framework for effective risk management of legal entities; including policies and procedures and ownership of Finance Control Standards pertaining to legal entity control.

This role will involve leading a team of ~45 qualified accountants on the below responsibilities:

- Legal entity controller responsibility for a Cluster of Super-high & High Complexity business entities & Completion of Financial Control Review for all Group Subsidiary entities per a global approach and timetable.

- Regular compliance activities which form part of ongoing monitoring and control – monthly trial balance reviews, board reporting, attestation of all LE owned accounts in, Fx risk management, and impairment reviews. It also involves monitoring of key entity parameters on ELE/ Non ELE exposures, bank/ non bank exposures and solvency checks.

- Legal Entity Lifecycle Management which includes entity rationalisation, changes in capital structure, risk review and rating maintenance.

- Preparation of regulatory/ compliance reporting to regulators in Asia and Americas

- Project management of the Global Subsidiary Reporting process – Responsibilities include planning, timetable management, Proforma preparation, training of staff, incorporating and addressing audit requirements, deal with PwC teams globally and successfully run the complete process to timetable with highest quality standards.

- Review of Board papers and Management Reporting

- Tax compliance including tax calculations, maintenance of tax records and liaison with tax advisers

- Drive Projects, improvement initiatives and standardization approaches.

- Involvement in migration of any additional finance responsibilities which includes developing and maintaining process maps and supporting documentation for all finance functions managed by the team
Team development and staff management & Client Engagement

- Ensuring integrity and completeness of financial records, and ensuring compliance with finance control standards & Accountable for the adherence to the global legal entity framework for self and team.

- Overall review and ownership over the work performed within the GFS team, ensuring adherence to timetable and work plan and maintaining of a high quality of the deliverable.

- Provide the team Technical support on accounting issues, and an active involvement in the work performed and delivered by the team.

- Continuously innovate with focus to improve process – enhance efficiencies and add value; ensuring quality consciousness in all aspects of the team.

- Training and developing new starters; Leading and managing the team, and doing effective appraisals.

Business Knowledge

- Experience in financial services and exposure to financial accounting and statutory reporting in a service industry environment preferred

Technical Specialist Skills

- Good technical accounting knowledge, understanding of accounting standards and working knowledge of IFRS.

- Knowledge of financial markets & businesses shall also be very helpful.

QUALIFICATIONS & BACKGROUND/WORK EXPERIENCE

- Postgraduate accounting qualification, CA or CPA

- 8-12 years post qualification experience including 5+ years of people management experience.

- Willingness to travel overseas

- Willingness to work in different time zones to support clients.

Please mark subject line as 'VP-LEC (Legal Entity Control)' and mail to arvind@leadsearch.biz