Responsibilities
Job Summary: -
• To supervise the SG Bank Regulatory Reporting Unit (RRU), Accounting, Group Reporting, related Management Reporting (MIS) and providing Financial Accounting Support through Certified Management Accounting (CMA) team.
• To manage direct, indirect taxation & transfer pricing of all entities in Mumbai.
Main Responsibilities: -
Accounting & Reporting: -
• Ensure compliance, integrity, timeliness and accuracy of financial reporting of the entities
whilst keeping operational and financial risk under control. Actively contribute to identify risky areas and remediation actions to improve the operational risk indicators (Manual entries, regulatory report late/re-submission, regulatory report automation etc.)
• Stay alert and updated on regulatory changes and their impacts on the businesses.
• Actively define and execute the yearly regulatory reporting testing
• Certify and report monthly Forex Position control for the entity according to regional / group guideline
• Ensure strong oversight on outsourced services in SG GSC (Global Solution Centre), providing clear & regular feedback to SG GSC management with an aim to continuously improve the process quality & efficiency
• Maintain the level of accounting substantiation close to 100% and quality of FCC monthly memos
• Identify and push initiatives to analyze and reduce breaks and manual entries (in GL, Group or Local reporting), resolve inter-company discrepancies
• Ensure the closure of all audits (internal audit, external audit, inspection, regulators) recommendation and completion of operational risk follow-up actions within the deadline
• With the support from regional teams, ensure a secure operating model and increased awareness on valuation topics (CSA/CVA, IPV, RP, etc.) definitions, control framework and production.
• Maintain 2-ways communication channel between local and regional to ensure the full accountability of valuation topics being exercised locally under regional support
• Practice good judgment (in terms of efficiency), when dealing with local specific inquiry, which may require additional support from the region / global hub
• Capital & Surplus funds Management - dividend distribution, capital and retained earning placement
• Managing accounting and reporting of dormant entities
CTL – Level 2 Control (L2C): -
• Provide the necessary support for the L2C missions to reach the requirement from ECB and DGLE/CCCI.
• Ensure all L2C recommendations closure on time
Tax : -
• Prepare accurate and timely tax planning reports for DFIN (Finance Department) Paris to monitor tax capacities
• Comply with local tax regulations for corporate income tax, indirect tax and business tax declarations
• Managing the tax project
In conjunction with SEGL/FIS (Legal department) Asia: -
• Comply with various tax risk assessments and declaration in TGM (Tax Global Tool) swiftly, while monitoring the risks already logged in TGM and updating associated provisions to be booked
• Ensure the compliance of the existing transfer pricing with the local business reality
• Be responsible for tax inspections and Tax office queries (for locations concerned)
• Coordinate and contribute to completion of NPC (New Product Committee) tax checklist for SEGL/FIS review
• Actively participate to monthly regional tax co-ordination meeting
• Contribute and control as necessary key tax projects where applicable
• Ensure all the internal/external tax inspection recommendations closure on time
Job Summary: -
• To supervise the SG Bank Regulatory Reporting Unit (RRU), Accounting, Group Reporting, related Management Reporting (MIS) and providing Financial Accounting Support through Certified Management Accounting (CMA) team.
• To manage direct, indirect taxation & transfer pricing of all entities in Mumbai.
Main Responsibilities: -
Accounting & Reporting: -
• Ensure compliance, integrity, timeliness and accuracy of financial reporting of the entities
whilst keeping operational and financial risk under control. Actively contribute to identify risky areas and remediation actions to improve the operational risk indicators (Manual entries, regulatory report late/re-submission, regulatory report automation etc.)
• Stay alert and updated on regulatory changes and their impacts on the businesses.
• Actively define and execute the yearly regulatory reporting testing
• Certify and report monthly Forex Position control for the entity according to regional / group guideline
• Ensure strong oversight on outsourced services in SG GSC (Global Service Centre), providing clear & regular feedback to SG GSC management with an aim to continuously improve the process quality & efficiency
• Maintain the level of accounting substantiation close to 100% and quality of FCC monthly memos
• Identify and push initiatives to analyze and reduce breaks and manual entries (in GL, Group or Local reporting), resolve inter-company discrepancies
• Ensure the closure of all audits (internal audit, external audit, inspection, regulators) recommendation and completion of operational risk follow-up actions within the deadline
• With the support from regional teams, ensure a secure operating model and increased awareness on valuation topics (CSA/CVA, IPV, RP, etc.) definitions, control framework and production.
• Maintain 2-ways communication channel between local and regional to ensure the full accountability of valuation topics being exercised locally under regional support
• Practice good judgment (in terms of efficiency), when dealing with local specific inquiry, which may require additional support from the region / global hub
• Capital & Surplus funds Management - dividend distribution, capital and retained earning placement
• Managing accounting and reporting of dormant entities
CTL – Level 2 Control (L2C): -
• Provide the necessary support for the L2C missions to reach the requirement from ECB and DGLE/CCCI.
• Ensure all L2C recommendations closure on time
Tax : -
• Prepare accurate and timely tax planning reports for DFIN (Finance Department) Paris to monitor tax capacities
• Comply with local tax regulations for corporate income tax, indirect tax and business tax declarations
• Managing the tax project
In conjunction with SEGL/FIS (Legal department) Asia: -
• Comply with various tax risk assessments and declaration in TGM (Tax Global Tool) swiftly, while monitoring the risks already logged in TGM and updating associated provisions to be booked
• Ensure the compliance of the existing transfer pricing with the local business reality
• Be responsible for tax inspections and Tax office queries (for locations concerned)
• Coordinate and contribute to completion of NPC (New Product Committee) tax checklist for SEGL/FIS review
• Actively participate to monthly regional tax co-ordination meeting
• Contribute and control as necessary key tax projects where applicable
• Ensure all the internal/external tax inspection recommendations closure on time
Profile required
Academic Background (degree and major): -
• Chartered Accountant / MBA in Finance
• Relevant certifications under the RBI Capacity Building Policy.
Relevant Working Experience in number of years: - More than 15 Years
Skills & Competencies required: -
• In depth understanding of Regulatory Guidelines & Management Reporting / Accounting standards (local & IFRS) /Accounting of derivatives
• Knowledge of Banking Products
• Responsibility – High integrity and ethical conduct in day-to-day work
• Clients & Team spirit – ability to collaborate with both internal & external stakeholders; conflict resolution and problem-solving skills
• Innovation – leading self and team through change management
• Good communication skills
• Commitment & Responsibility – Team development & engagement; inspiring team for high individual and collective performance; time management
Language Skills: - English
Computer Skill: - Excellent knowledge on Excel, Powerpoint, Access
Business insight
Societe Generale is one of the leading financial services groups in Europe. Based on a diversified universal banking model, the Group combines financial strength with a strategy of sustainable growth, putting its resources to work to finance the economy and its clients’ plans. With a solid position in Europe and a presence in countries with strong potential, the Group’s 145,700 employees in 66 countries support 31 million individual clients, large corporates and institutional investors worldwide by offering a wide range of advisory services and tailored financial solutions.
Societe Generale was established in India in the year 1978. In 1985, Societe Generale Bank commenced operations as a Scheduled Commercial Bank in Mumbai. Since then it has a proud legacy of servicing corporates and clients. New branches were added in Delhi (1993). Societe Generale not only offers an extensive product portfolio to different market segments, but customizes solutions in investment banking, global finance and global markets.
Societe Generale is an equal opportunities employer and believes that a diverse and inclusive workforce should be encouraged and recognized.
We are an equal opportunities employer and we are proud to make diversity a strength for our company. Societe Generale is committed to recognizing and promoting all talents, regardless of their beliefs, age, disability, parental status, ethnic origin, nationality, gender identity, sexual orientation, membership of a political, religious, trade union or minority organisation, or any other characteristic that could be subject to discrimination.