Financial Controls & Compliance Supervisor
Salary $160000 - $240000 per year + Bonus
Consultant Christopher Stringer
Date posted September 23, 20187 Times Square New York NY 10036 Robert Walters United States of America
My client, a prestigious European Investment Bank, is looking for a Financial Controls and Compliance Supervisor to head their newly created and growing team focused on providing controls and improvements to the Cash business.
This position can be hired at the VP or Director level depending on the candidate. The role will be managing a three person Financial Controls and compliance team dedicated to daily control, monitoring and reporting of all Nostro cash activity and reconciliation. This role will require someone that can lead the company’s design, implementation, maintenance and remediation of financial statement controls. The supervisor will manage, lead and participate in controls related projects. They will also partner with the business to identify solutions and process improvements whilst also providing training on controls-related initiatives.
The successful applicant will be someone with a prior background in a controls environment, likely within wholesale banking as well as an understanding of US GAAP, IFRS and Regulatory standards (SOX and COSO). Someone with an ability to communicate clearly, both written and verbally is crucial due to the ongoing stakeholder relationship management element of the role. This individual will need to be someone that can proactively identify and drive change/improvement opportunities.
Key roles and responsibilities
- Conduct risk assessments of accounts, accounting processes, and financial statements to determine scope, testing approach, and timing of control implementation.
- Enhance the efficiencies of controls through automation, and centralized, standardized certification processes.
- Monitor control deficiencies, assess their severity, and working with stakeholders, propose effective control enhancements to prevent future reoccurrence.
- Supervise multiple employees and processes.
- Oversee cash and suspense reconciliation control functions.
- Ensure adequate evaluation and testing of Financial Statement internal controls and ensures that control deficiencies are remediated in a timely manner to support financial statement filings.
- Work with key business process owners to identify, document, review, implement and certify internal controls.
- Supervise the administration of the account certification process and GL control processes.
- Review, document and report on data quality statistics such as manual entries, manual inputs to reports, and account certification aging.
- Manage the accounting policy process, ensuring stakeholders update the accounting policy manual in a timely manner.
- Document controls in quarterly memos that outline the effectiveness of controls to support reporting processes.
- Manage audit and regulatory exam prepared by client delivery for the Finance Function.
- Motivate and influence across multiple levels of the organization, and willing to challenge upwards in a professional manner to ensure the best control outcomes.
- Driver of change in the FC&C group, including ensuring strong goals and process improvements are made to support an efficient department.
Required Background and Qualifications
- Strong education background with a minimum of a bachelors degree in Accounting, Finance or similar subject
- CPA (or equivalent) qualified
- Strong experience with bank lending processes, systems, data.
- Knowledge of accounting and financial reporting regulations and standards that impact books and records data requirements
- Excellent verbal and written communication skills
- Advanced Excel, reporting tool design and management, and good knowledge of system security requirements.
- Systems and software proficiency:
- Lending Systems: ACBS, LoanIQ,
- Reconciliation systems: Smartstream Corona
- SWIFT payment and receive message formats
- Microsoft Excel, Word
- Ability to motivate and influence across multiple levels of the organization
- Track record of successfully identifying and implementing process improvements.