Context  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 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 Expected Credit Loss related data and metrics in constant engagement with the stakeholders and team members  - 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  Principal Accountabilities: Key activities and decision making areas Typical Targets and Measures  Impact on the Business  - Support the design a fit for purpose impairment data and metrics process in engagement with key stakeholders  - Actively contribute to the development of common data platforms and utilities in close association with related workstreams  - Participate in UAT to ensure consistency and efficiency in the processes, systems and outputs   - Review, validate and adjust data to meet expected quality criteria   - Proactively manage and improve the quality and consistency of the data  - Analyse data and source commentary to support major movements  - Coordinate data sign-off by CROs and CFOs  - Conduct and review UAT results and ensure timely resolution  - Support the design, testing and operationalization of the processes flow for the Impairment Production Centre  - Effectiveness of the data and output   - Effectiveness of common data platforms and utilities  - Effectiveness of the system and the processes  - Quality of the analysis and commentary  - Timely sign-off of the impairment data and metrics  - Effectiveness of the UAT  - Effectiveness of the process-flows-   Customers / Stakeholders  - Establish strong working relationships with key stakeholders  - Anticipates and addresses queries and concerns from stakeholders and resolves them in an effective manner   - Positive feedback and improving engagement  - Timely and effective resolution of all queries  Teamwork & Collaboration  - Work as one team to deliver on the team's objectives  - Support colleagues across teams and functions, sharing ideas, knowledge and supporting initiatives   - Effectiveness of the team  - Value added beyond immediate targets  Risk & Controls  - Adherence to compliance standards and requirements  - Understanding complex data flows and accounting requirements  - Communicating with stakeholders across functions in diverse locations and establishing working relationships  - Absorbing concepts, defining the approach and developing processes with limited hand-holding  - Pressure to deliver within fixed regulatory timelines in an environment of ambiguity   Role Context (The environment and operating conditions of the role including the extent of guidance and authority)  - During the build phase of the programme, the jobholder will focus on the UAT, designing the process-flows and training the team members. During the subsequent phases, the focused shall be on data integrity and output quality  - The immediate team will be approximately 5 members, working closely with the credit risk, systems and finance teams   - The jobholder is expected to be a self-starter and able to adapt to changing demands as the project progresses  Management of Risk (Operational Risk / FIM requirements)  The jobholder will also continually reassess the operational risks and likelihood of operational risk occurring. This will be achieved by reviewing risks associated with the role and inherent in the business, taking account of changing global economic or market conditions, legal and regulatory requirements, operating procedures and practices, management restructurings, and the impact of new processes. Effective and timely remedial action should be evidenced.

Chennai

Associate Vice President - IFRS9 Reporting 

Associate Vice President - IFRS9 Reporting  ,Job Description for Associate Vice President - IFRS9 Reporting  in Antal International Network in  Chennai for (10-15) years of experience. Apply Now!

Job Description for Associate Vice President - IFRS9 Reporting  in Antal International Network in  Chennai for (10-15) years of experience. Apply Now!