Primary tasks include, but are not limited to the following. While production for most of these tasks is off-shore, the team is responsible for oversight and management of the off-shore staff, and for the resolution of any issues, and the final product.
• Work transversally across the different Finance, IT and Operations teams to assist in reconciling various control related issues. Mainly flows between sub-systems and the General Ledger.
• Identify root causes of different control break issues & partner with Finance, IT and Operations teams business partners to put remedial solutions in place.
• Represent the team as a subject matter expert on projects and initiatives.
• Review daily commentary on breaks by the off-shore team for accuracy. Ensure that each break has an explanation, and if not, that it is actively being researched.
• Reconcile subsidiary ledger to general ledger discrepancies for various product systems. Products supported are Fixed Income Securities, Money Market Instruments, Foreign Exchange, OTC Derivatives and Exchange Traded Futures & Options and all Equity based products.
• Maintain detailed off-line reconciliations for general ledger activity that is processed manually to the general ledger outside of the upstream product systems.
• Perform Balance Sheet & Off-Balance Sheet substantiation & sign-off.
• Reconcile Inter-Company transactions and balances, partnering with different teams to resolve these breaks in a timely manner.
• Reconcile balances in back office processing systems to corresponding subsidiary ledger balances.
• Work with various teams (i.e. Regulatory, Internal Audit, Corporate Accounting, etc) to understand the nature of balances and outstanding differences.
• Work closely with Operations to understand any possible impact to reported financial statements arising from outstanding control breaks around cash.
• Function as part of various project groups designed to improve controls and efficiency.
All our positions are open to people with disabilities
• Strong working knowledge of diverse Capital Markets products.
• Experience with reconciliations within a banking or financial institution.
• Candidate must have experience working with reconciliation tools, general ledger packages, and back office processing systems.
• Strong working knowledge of Microsoft Excel is a must.
• Desired: Understanding and working experience with IFRS Accounting; VBA knowledge.
• Ability to pinpoint root cause issues & implement both tactical and strategic solutions.
• Effective problem solving and analytical skills.
• Ability to work as a team player.
• Ability to effectively communicate (verbal and written).
• Good documentation skills.
• Ability to manage large amounts of data, and turn this date into meaningful analysis to respond to various inquiries.
• Strong organizational, time-management, and multi-tasking skills.
• Experience working with strict deadlines (i.e. month-end close process).
Prior Work Experience
Recruiting for various levels of seniority: 1 to 10 years of relevant industry experience, specifically related to Accounting & Controls and reconciliations.
BA --- Accounting, Finance or equivalent industry experience
The Finance Department of Global Banking and Investor Solutions (GBIS), is a global organization with local presence, providing the same set of services through global and efficient processes and consistent norms, leveraging on production hubs. Our Core Missions are: Quality and timeliness of GBIS financial statements; Assisting GBIS management and all Business Lines in their steering with actionable reports on financial performance and forecasts; Independent certification of all financial aggregates; Financial communication and constant benchmarking; Providing expertise on accounting, prudential and tax norms and ensuring compliance vis-a-vis these norms.
The Accounting (DFIN/MAR/ACC) group mainly supports the MARK business lines for GBIS. The group is accountable for the independent production and certification of the accounting quality for Profit & Loss (P&L) and Balance Sheet on a daily and monthly basis. Specifically, the Data Quality Assurance (DQA) team is responsible for ensuring the accuracy of the information contained on the balance sheet and off-balance sheet.
DQA is responsible for the control of the daily and monthly accounting feeding to the GL from back office systems, research and treatment of any error in the feed process in a timely fashion. DQA is the owner of the product related Balance Sheet and Off-Balance Sheet accounts and is responsible to certify and support the balances in these accounts. DQA is responsible to provide internal and external auditors with adequate support and explanation of the balances, complete monthly certification and reconciliation packages.
The DQA team is also responsible for the treatment of General Ledger “rejects,” monthly control of internal accounts balance & monthly control of GL anomalies, multi-GAAP reporting, inter-company reconciliations, monitoring and analytical review & additional controls.