- Work with CFO teams to identify, assess and remediate risks to ensure Internal Controls over Financial Reporting within the SOx framework are operating effectively
- Assess of financial reporting errors (including operational loss events) to analyse the root cause (lessons learned), and consider the impact for any similar issues that may exist (read-across)
- Perform scenario analysis to identify any potential control gaps or weaknesses
- Assess the impact of any future change in financial reporting control frameworks
- Monitor financial reporting risks, including development of key risk indicator metrics to assess if within risk appetite tolerance
- The individual is required to possess strong stake holder management skills (including global stakeholders)
- The individual must have a good understanding of Financial Reporting and the related processes
- The individual is expected to understand Sarbanes Oxley (SOx) related frameworks within the Risk & Control ambit.
- The individual is required to possess strong communication and articulation skills that could be demonstrated in all forms of communication and presentations
- Best in class leave policy
- Gender neutral parental leaves
- 100% reimbursement under childcare assistance benefit (gender neutral)
- Sponsorship for Industry relevant certifications and education
- Employee Assistance Program for you and your family members
- Comprehensive Hospitalization Insurance for you and your dependents
- Accident and Term life Insurance
- Complementary Health screening for 35 yrs. and above
- Responsible for Incident reportingincluding engagement with line,challenging the line on details submitted, ensuring that write up correctly reflects the issue and calls out control gaps / failures, Incidents are reported as per policy and also recorded in Incident Reporting System (dbIRS) depending upon thresholds in a timelymanner.
- The individual is expected to continuously monitor and track for Event Data Quality of the events as well as ensure timely closure of incidents within stipulated time frame.
- Establish and implement procedures to monitor measure and improve productperformance against SOx, Control Policies, regularly measuring or receiving output of measurements to demonstrate areas of concern and compliance withstandards.
- Self-identified Issues: Liaise with business to understand issues, challenge ratings in line with the Rating Grid, ensure that SII write up clearly calls out the inherent risk, action plan, and ownership and due date is agreed with all impacted parties. Follow up on SIIs to track progress, raise concerns if there is any risk of falling overdue. Facilitate closure process for SIIs which meet the target closuredate
- Audit Lifecycle Management: i) Provide support for Internal and external audits to ensure accountability is with findings owner throughout the lifecycle ii) Monitoring and timely escalation of overdue items to Sr Mgmt iii) Conduct health checks and provide support on audit issuesand action plans from tracking & closure perspective
- Non-Financial Risk Reporting: Review of Monthly Balance Sheet Substantiation reports and ensuring timely escalation and well-commented / summarized details for Finance SrMgmt.
- Deep Dives: Perform process deep dives on high risk areas. Understand the identified process in detail and its current control framework and analyze risks to identify any gaps in current framework. Any gaps so identified need to be agreed with management and a remediation plan to be agreed - SIIs to be raised ifrequired
- Financial Reporting Oversight: Provide oversight and direction of risk management process ensuring risks covered are accurately measured, aggregard and analysed in accordancewith SOxFramework
- Consistently engage with Group Non-Financial Risk Management (NFRM) team to stayupdated on the policy /procedures.
- Be the SME within the Global FCO team; Conduct Training within FCO /Finance.
- This profile plays an important role in certifying / validating information (Finance) used byNFRM team.
- Need to have a strong stakeholder relationship with NFRM team
- Respond to queries related to NFRMpolicies
- Create Risk awareness by conducting trainings on various controltopics
- Lead / execute various control initiatives – Control Week, Quiz, Floor Connects, Huddlesetc.
- Contribute towards global projects being run across the bank – Control OversightProgramme
- Run any local risk oriented projects
- Approximately 12-15 years of work experience with strong exposure to Operational Risk in aBanking/ Finance industry
- Good understanding of Financial Reporting and Disclosures(IFRS)
- Strong understanding of Sarbanes Oxley (SOx)framework
- Product and Process understanding, including knowledge of investment banking products/business
- Have strong skills in Designing and implementing controllandscape
- Attention to detail including an eye for spotting errors and redundancies in existing processessand procedures
- Building risk awareness amongst staff by providing support and training within theorganization
- Strong analytical skills – ability to articulatesuccinctly
- Ability to engage and influence seniorstakeholders
- Ability to work independently, as well as in a team environment, prioritize multiple tasks, andmeets strictdeadlines
- Proficient in Microsoft Office (MS Excel & PPT)applications
- Strong Influencing skills to drive Risk agenda and develop culture of Positive Riskmanagement
- Demonstrated commitment to continuous processimprovement
- Chartered Accountant, Masters in Finance / Bachelors (with expert knowledge of - GAAP / IFRS accounting procedures and financial reporting practices) or other quantitative field (OR, Accountancy, etc)
- Training and development to help you excel in your career
- Coaching and support from experts in your team
- A culture of continuous learning to aid progression
- A range of flexible benefits that you can tailor to suit your needs
Finance Control Oversight - Mumbai, India - 9608 Deutsche India Private Limited, Mumbai Branch
Description
Description
About Finance Control Oversight (FCO) :-
Finance Control Oversight (FCO) mandate is to support the Chief Financial Office by providing an aggregated view of risk and assist in managing these risks against the defined risk appetite. FCO also maintain strong connections in the regions and will support the regional CFOs across Americas, EMEA and APAC in their quarterly sign off of the Financials through the independent assessment of risks and control issues.
The team support Finance and other stakeholders, including Infrastructure and Businesses, by implementing a robust risk management framework including the management of the SOx and Balance Sheet Substantiation frameworks.
About the Role :-
The Finance Control oversight (FCO) team review and manage Accounting and Financial Reporting Risk within Risk Appetite and, where out of Risk Appetite, ensure appropriate actions are taken to remediate and return to within Risk Appetite.
FCO work with multiple teams to consider the strength of controls related to key CFO activities, assess the significance of any control gaps or controls that are deemed not to be operating effectively, and assist in the design of remediation plans.
FCO manages the Control Frameworks for SOx (Sarbanes-Oxley act) and Balance Sheet Substantiation, including conducting risk assessments, reporting control gaps and ensuring remediation.
As Business Area Lead (BAL) within the FCO team:
The role involves front to back review of issues / findings / events to assess its impact of on Internal Control over Financial Reporting
What we'll offer you
As part of our flexible scheme, here are just some of the benefits that you'll enjoy
Your key responsibilities
Incident reporting :
Risk & ControlReporting :
Preventive Risk ManagementPractices :
Engagement with Group Non-Financial Risk Management(NFRM) :
Miscellaneous Projects & Trainings :
Your skills and experience
Education/Qualifications
How we'll support you