Description
Financial Controller - IFRS9
My client, a leading UK Bank, is looking for an experienced financial controller to assist in the implementation of IFRS9. The ideal candidate will have a strong understanding of IFRS, financial control and have experience within large financial institutions.
Key Accountabilities and Skills required:
- Take leadership for the finance aspects within the business of the implementation of new impairment accounting requirements in IFRS 9 "Financial Instruments", which is effective from January 2018; working closely with credit risk, central project, technology and broader finance colleagues.
- Tasks will include: designing and implementing new financial reporting and control processes; providing broad finance support and information to the IFRS 9 implementation team and ensuring that new practices comply with the technical requirements of IFRS 9. There will be specific responsibilities for the reporting work stream within the IFRS 9 project.
- Key and interesting will be considering commercial implications of new provisioning requirements and impacts on customer products and pricing, working with credit risk, businesses and finance business partners.
- Support other credit risk-related change initiatives, taking leadership for Financial Control.
- Partnering with credit risk colleagues, ensuring that conclusions on key credit risk-related and financial reporting impacting accounting judgements and significant methodology changes are appropriate, consistent across sub-businesses, and clearly documented.
- Assessing the financial accounting and reporting of credit risk-related one-off transactions, such as debt sales.
- Overall responsibility for ensuring that all month-end and year-end financial reporting and control processes relating to credit risk provisions, impairment charges and related financial and regulatory disclosures operate and are executed properly, hence maintaining appropriate financial control.
- Be(come) an expert in IFRS 9, impairment accounting and the operation of associated credit risk processes in practice.
- Take the opportunity of the implementation of IFRS 9 and new impairment processes to refine related financial control processes and ensure implementation of an effective and efficient financial control framework for credit risk.
- Feed into and present at legal entity/sub-business control review meetings on credit risk and impairment subject matters.
- Work with SOX controls and governance colleagues to assess the design of credit risk financial reporting processes for SOX purposes.
- Liaising with external auditors.
Requirements:
- Ideally, the successful candidate will have a good understanding of International Financial Reporting Standards ("IFRS"), especially those aspects relating to financial instruments and core finance and credit risk processes.
- However, it is recognised and understood that some candidates will need to develop deeper knowledge whilst performing the role.
- Familiarity with SAP, Hyperion (Essbase) would also be desirable, but not essential.
- Previous experience in Financial Services required and familiarity with the payment industry; particularly credit cards and merchant acquiring, would also be desirable.
- The right candidate will be preferably be a ACA or an equivalent qualified accounting professional.
Allegis Group Limited and Aston Carter Limited operate Employment Businesses and Agencies and are companies within the Allegis Group Inc. group of companies, the fourth largest staffing company in the world, (collectively referred to as the "Allegis Group"). TEKsystems and Aerotek are divisions of Allegis Group Limited. Applicant data will be treated in accordance with the Allegis Group's Privacy Notice ). By submitting personal data to any company or division within the Allegis Group, the applicant is providing explicit consent to the use of such data by the Allegis Group and to the transfer of such data to and from the Allegis Group companies within the UK, Europe and outside the European Economic Area in connection with the fulfilment of the applicant's voluntary requests, and the fulfilment of other job opportunities that match the applicant's profile, and confirms that they may be contacted about such job opportunities.