VP, Governance and Control

JOB PURPOSE:

The main purpose of the role is to effectively manage financial control within Business Finance - Finance - Personal, Business, Wealth and Privileged Client Banking Group. Provide accounting guidelines to business, set-up accounting processes, review and correct divisions booking in line with accounting standards. Act as the spoc for Business, Finance and MI related Projects, manage audit and risk process for Business Finance. Manage the reconciliation for division owned accounts, Manage and control discretionary authority within the business.

KEY ACCOUNTABILITIES:

Generic Accountability

• Initiate various financial control measures within the division to avoid wrong financial treatment and operational loss. Closely coordinate with group control team for resolution of any reconciliation breaks within the division.
• Participate in the audit discussion for business finance specific or business division in generic for the audit programs. Review audit comments and agree on the risk ratings.
• Ensure resolution and closure of all audit comments in relation to financial treatments and reporting for the business division.
• Set up the division’s RCSA matrix in line with the guidelines. Ensure timely completion of Risk Assessment Matrix for the division.
• Conduct periodic risk control self-assessments for the function and initiate risk mitigating actions.
• Conduct monthly review of Discretionary Authority utilization by business units. Collate, review and verify the accuracy and utilization by Discretionary authority holders.
• Conduct close review of incentive booking and distribution. Perform regular reviews and initiate sampling process for incentive paid to be in line with approved policy guidelines for incentives.
• Provide accounting guidelines for the associated business processes. Review and confirm treatment in relation to booking of balance sheet and P & L in coordination with Group Finance.
• Own and reconcile the internal accounts under Business Finance ownership. Ensure appropriate records and back up for reconciliation carried out. Ensure completion of AOV sign off on monthly basis for accounts owned.
• Closely review the segment code changes and account transfers within Personal, Business, Wealth and Privileged Client Banking segments. Ensure all transfers are within policy and as per prescribed approval process. Initiate corrective actions including escalation in case of any transfers outside the policy.
• Provide daily variance report on balance sheet and confirm accuracy of the growth/drop in the balance sheet.
• Participate in discussions related to specific financial projects as and when assigned. Coordinate with Business partners and IT units in driving such projects for the division.
• Manage the direct reports under the position. Ensure job enrichment and development of the team members reporting into this line.JOB CONTEXT

Specific Accountability

• Closure of all audit comments
• RCSA ratings to be maintained with low-medium for process.
• All accounts under management in green for accounts owned.
• Submission of monthly DOA reports as per deadline to business governance team.All account transfers as per policy guidelines and approvals.

FRAMEWORKS, BOUNDARIES, & DECISION-MAKING AUTHORITY:

• If any, ensure compliance and execution of RACI, accountabilities and responsibilities assigned to him/her as per the approved authorization matrix or documents (e.g policy, process, memorandum, DOA, etc. ) which is updated from time to time.
• Authorized to take decisions as per the approved authorization matrix or documents (e.g policy, process, memorandum, DOA, etc.) which is updated from time to time.
• Ensure awareness and understanding of authorization provided to him/her from time to time. QUALIFICATIONS & EXPERIENCE:

• Professional Degree in Accounting / Finance.
• CA/ACCA/CPA certification preferred
• Prior experience in Bank’s financial department in similar roles
• Strong understanding of Retail Banking Business.
• Prior managerial experience is required
• Committed team player with strong interpersonal and communication skills.