Financial Controller

4 weeks ago

London, United Kingdom ICBC Standard Bank Plc Full time

Skill Band: Finance Location: London

Type: Permanent Date Posted: 23 Apr 2024

Job Title: Financial Controller
Location: London

Hybrid Working: 3 days in office, 2 days from home


ICBC Standard Bank Plc (ICBCS) is 60% owned by Industrial and Commercial Bank of China and 40% by Standard Bank. ICBCS benefits from a unique Chinese and African parentage and an unrivalled global network and level of expertise.

ICBCS is a leading financial markets and commodities bank, driven to deliver the right outcomes for our stakeholders, clients, counterparties and the markets in which we operate. We deliver products in an environment which considers the appropriate needs of our clients, whilst providing guidance and expertise to ensure our employees understand our business and uphold the highest levels of conduct. We want passionate and talented individuals who are motivated by high growth potential being achieved in doing business the right way.


Headquartered in London, ICBCS also has operations in Shanghai, Singapore and New York.


Division Summary
The London Finance team encompasses the following core functions: Financial Reporting and Control, Management Reporting, Product Control, Tax, and Treasury & Capital Management.


The Financial Reporting and Control function is an integral part of the Finance function, responsible for the consolidation, control and reporting of the ICBCS consolidated financial results. The reporting team is also responsible for the submission of Financial Reporting (FINREP) returns under the EU implementation of Basel III and for IFRS compliance. The function reports into the Chief Financial Officer (CFO). The key responsibilities of this function are:

  • ICBC head office reporting
  • Financial governance and control
  • External reporting and consolidation
  • FINREP reporting
  • Bank of England reporting
  • Projects

The Management Reporting team is responsible for the production of detailed MI reporting, both actual and forecast; and information for the purposes of detailed business analysis and forward looking reporting, including assisting with the annual and multi-year business planning process.

The Capital Management & Regulatory Reporting team is responsible for internal and external reporting with respect to capital, large exposures, leverage, asset encumbrance, liquidity and NSFR as well as ownership of related stress testing policies & processes and prudential reporting systems. The team is also responsible for preparation of regulatory governance documents, regulatory policy and business liaison.

Job Purpose
The primary purpose of this role is the support of IFRS compliant financial reporting and control of the results for ICBC Standard Bank group (ICBCS), the principal London-based operating group in ICBC. The ICBCS group results include operations in New York, Singapore and Shanghai.

The role will involve close interaction with the various investment bank product trading systems. Initiatives including FINREP and Bank of England reporting, as well as the integration with ICBC, continue to provide the need to develop the finance processes, offering diverse experience across all products. The role will suit a highly driven, ambitious, and experienced individual to join the team that is committed to continuous improvement, contributing to high quality controls, reporting and business partnership.


Key Responsibilities

  • Ensuring IFRS compliant reporting, and all aspects of general ledger integrity and balance sheet substantiation
  • Developing a good understanding of the Global Markets product set and systems and how these interface into the financial reporting process
  • Develop a sound understanding of IFRS related to Global Markets products and applying these to new product proposals
  • Contribute to the development and maintenance of FINREP reporting, in respect of new regulatory returns set out by the EBA
  • Ownership of the Financial Reporting submissions into the Bank of England
  • Contribute to continuous development of reporting and process change to comply with the reporting requirements of ICBC, the parent company
  • Contribute to the continuous development of ICBC head office reporting
  • Build and maintain strong relationships with ICBC head office stakeholders
  • Involvement in the production of the Annual Financial Statements for ICBCS, including involvement in the planning and preparation for the reporting cycle and detailed note disclosures, and contribution to the year-end audit process and associated issues
  • Monthly financial reporting for ICBCS, and the control and analytical review of ICBCS consolidated results
  • Consolidation of ICBCS branches and subsidiaries, including the review and control of entity submissions and inter-company confirmations
  • Ensure compliance with IFRS requirements for balance sheet classification and disclosure, including improvements to the processes and procedures required
  • To be flexible and have a high degree of adaptive ability in what is a dynamic environment

Preferred Qualifications and Experience

  • Qualified accountant (ACA, ACCA, CIMA or equivalent) with hands on experience
  • Worked in Financial Reporting and Control and /or Product Control, preferably within an Investment Banking environment
  • Good understanding of accounting IFRS, preferably with Financial Instruments
  • Sound banking product knowledge and application of IFRS
  • Good Microsoft Office knowledge, particularly with Excel and the ability to deal with large datasets
  • Some experience of financial systems commonly used within Finance would be an advantage
  • Ability to work independently as well as part of a team, and liaise with senior stakeholders

Personal attributes:

  • Resilience
  • Pays attention to detail
  • Results-orientated
  • High level of integrity

The role would suit someone who is:

  • Able to develop solutions to problems encountered
  • Organised and can work through requests and processes methodically
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