PERM - STPD-F&C - Financial Reporting / Hedge Accounting - AVP

2 weeks ago

London, United Kingdom Sumitomo Mitsui Banking Corporation Full time
PERM - STPD-F&C - Financial Reporting / Hedge Accounting - AVP

SMBC: A trusted partner for the long term

Our internal opportunities aim to grow you professionally and personally. Be curious, expand your network and explore how your skills and knowledge can transfer into different roles and areas of SMBC. Even if your experience doesn't perfectly align with the job description 100%, we still welcome your application. Find the resources and support available to help you transition your career and flourish on our Internal Mobility page.

Section 1 - Details

Job Title / Corporate Title

Financial Reporting / Hedge Accounting - AVP

Department / Group

STPD Planning Department - Finance & Control

Responsible to / Line Manager

This should be a role title, not a named individual.

Director Financial Reporting

Direct Reports

This is about scope of the role. Please include job titles and the reporting relationship.

None

Location

London, UK

Date Prepared

January 2024

MiFID Knowledge and Competence

Out of scope

Certification regime

Out of scope

Section 2 - Purpose of Job
  • Financial Control and Reporting to support the main legal entities that are controlled by SMBC team in London - SMBC Bank International, Nikko Capital Markets Ltd & SMBC (London Branch)
  • Develop core legal entity control & financial reporting expertise to support universal bank strategy
  • Develop technical expertise to implement a hedge accounting centre of excellence for the SMBC EMEA region
Section 3 - Background

The team supports a variety of reporting requirements for SMBC BI, EMEA and SMBC branches. In particular the team is responsible for:
  • Producing legal entity aligned financial updates
  • Ensuring GL bookings are complete, accurate and well-controlled
  • Preparing HO reports for SMBC BI and SMBC branches
  • Operation of Hedge Accounting processes on behalf of in-scope branches and entities
Section 4 - Facts / Scale
  • The EMEA region comprises several SMBC branches, and separate legal entities based in London and Frankfurt
  • The role is in the Financial Reporting and Control section of the team department, and has responsibility for legal entity reporting for SMBC BI, SMBC London Branch and Nikko Capital Markets Ltd.
  • The team also responds to ad-hoc queries to support entity management information
Section 5 - Accountabilities & Responsibilities
  • Analysis of monthly income for management including production of commentary and analysis of business drivers
  • Operation of monthly hedge accounting processes operated under IAS39, including designation, documentation, testing and accounting entries. Understand implications of adoption of IFRS 9 for hedge accounting.
  • Identify opportunities to scale-up and standardise process across EMEA region, plus drive process and control improvements
  • advise management of operations departments regarding the treatment and booking of transactions.
  • Maintenance of various aspects of TheMIS, including updating static data tables and queries as necessary.
  • Aid with system testing in relation to new products, system process changes and the "Build" process and check data flows into the Oracle general ledger and TheMIS. Checking data reconciles between the Oracle general ledger and TheMIS.
  • Liaising with External Auditors on evidence requirements related to the year-end Audit and preparation of Financial Statements. Producing evidence in a timely manner.
  • Controlling various entries across the Oracle general ledger, including monthly accrual entries, and passing manual journal ADI's as required.
  • Control and supervision of various access databases containing journal entries including assistance with changes and development of the database.
  • Develop and maintain good working relationships with Operations, Systems and Front office departments.
  • Aid Finance functions within the EMEA Region, Head Office and to the Head of the Management / Financial reporting section
  • Identify potential sources of risk, investigating them thoroughly and taking appropriate action.
  • Assist with Head Office Quarterly, Term End and Annual reporting.
  • Supporting projects, change management and other developments, typically within Finance lead teams or as part of a finance workstream for Bank-wide programs.
Section 6 - Knowledge, Skills, Experience & Qualifications
  • Educated to Degree Level.
  • Qualified Accountant with experience of industry and relevant financial products
  • Strong numerical and financial skills with the ability to interpret financial information and able to design and use financial models.
  • Able to understand new and existing IFRS Account Standards and to interpret the impact they will have on SMFG group entities.
  • Good knowledge of Microsoft Office products (including MS Access) and Oracle GL, plus awareness of Tableau / Alteryx / PowerBI would be desirable
  • Can view problems from all angles and draw on external best practice to inform thinking.
  • Observes the Conduct rules and standards and maintains high standards of ethics, honesty and integrity.
  • Works with respect. Is fair, consistent, open and honest and builds relationships based on trust
Section 7 - Challenges (This section is optional)
  • Explaining complex financial concepts to a wide group of stakeholders.
  • Balancing competing priorities
  • Sharing information proactively across team members
We value the uniqueness of professional and personal, backgrounds and perspectives as they play a vital role in continuing our sustainable growth as an organisation. If you're in need of reasonable adjustment to the recruitment process due to disability or long-term condition, just let your recruiter know. #J-18808-Ljbffr

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