Senior Recruitment Consultant at Black Turtle
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Senior Vice President - Financial Control/Product Control/LEC - BFSI (12-20 yrs)
Title Financial Controller
Location : India
City : Mumbai
Function Category : Finance
Job Type : Full Time
Your role Are you a motivated self-starter? Do you have the know-how to analyse financial information? We're looking for someone like that to help us:
1. Lead HT CoE India team comprising of IB, WM and AM Hard Transfers centrally performed in Mumbai.
2. Ensure completeness and accuracy of global transfer pricing calculations in line with Bank Group procedures. The team member is responsible for calculating accurate and effective transfer pricing, based on verified inputs and in accordance with policies and methodologies laid down by Group Tax.
3. Accurately report (either internally or externally) any type of transaction that impacts the general ledger, profit and loss statements or on/off-balance sheet items and disclosures arising out of a transfer pricing methodology.
4. Chair monthly / quarterly calls with various stakeholders (comprising of Business (Front office), Financial controllers, Group Tax) to review transfer pricing methodologies and ensure operational calculations are in line with expectations. This will require the candidate to develop an understanding of how various services are provided and consumed by different businesses, requiring keen analytical skills and an ability to learn quickly.
5. Ensure monthly scope confirmations, taking place between the CoE and Business are reviewed and understood, ensuring downstream impacts to the configuration of the IT toolset are performed accurately and in line with agreed SLAs
6. Co-ordinate new 'New Business Demand' and present through various stakeholders such as business, financial controllers and Group Tax, ensuring they are accurately configured in the calculation engine.
7. Preparation of weekly / monthly control reports in order to provide a granular, consistent report which is reconciled to end reporting systems to ensure completeness and accuracy of the data supplied to downstream stakeholders.
8. Execute appropriate controls and 4-eye reviews ensuring transfer pricing calculations are computed in line with transfer pricing methodologies and that the posting to financial ledgers is performed accurately and in line with monthly close timelines. Where requested, providing additional commentary to aid the substantiation of hard transfer postings and/or period on period movements in HT posting.
9. Report any operational risk items as per the Operational Risk Framework Policy as the risk of loss resulting from inadequate or failed internal processes, people and systems, or from external causes.
10. Perform periodic reviews on various HT documents like KP, KOPs, KPCs, SOPs etc.
11. With oversight, review and preparation of Hard Transfers across the bank
12. Liaise with multiple stakeholders providing guidance where necessary and challenge methodology when appropriate.
13. Develop and maintain collaborative working relationships with partner teams including Finance CFO, Accounting Control and client COO teams
- Your team The role is within the Corporate Centre Finance team, relating to HT - Hard Transfers (HTs) also sometimes referred to as Transfer Pricing (TP).
- Transfer pricing is a mechanism by which revenues and costs are allocated intra-group to ensure that subsidiaries or branches are appropriately rewarded for the activities they perform and risks they undertake, or are charged for the organizational resources they consume. Such transfers are necessary to ensure that revenues and costs ultimately reside in the 'correct' legal entity / branch. Such transfers are required to be performed on an arm's length basis to ensure accuracy of the financial accounts on a legal entity basis. Accurate financial statements of all legal entities with the Group are essential in generating correct tax payments in each tax jurisdiction.
A new centre of excellence related to Hard Transfers is created to support end to end ownership of transfer pricing postings across the Group.
Your expertise - Recognised CA qualification
- Intermediate knowledge of IFRS reporting and presentation
- 12 to 18 years of product control/ financial control/ legal entity control / transfer pricing or related experience
- Experience of servicing multiple clients of varying seniority and have directly faced various stakeholders like Front office, Business Managers, Group Tax, Legal Entity Controllers
- Group level reporting and legal entity structures experience
- An individual contributor willing to understand detail and have motivation to be bank wide subject matter expert.
- Strong communicator with excellent written and verbal skills in English
- Proficient at excel and preferably MS Access
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