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The role of Head of Financial Reporting and Governance (Tempo) sits within the External Reporting Team in UK Finance Shared Services. The candidate will report to the Executive Director, Head of External Reporting, UK Finance.
As Head of Financial Reporting and Governance (Tempo) you will be responsible for ensuring all financial reporting requirements relating to London and Luxembourg as assigned to your team have been met, the team meet its objectives in terms of management of the general ledger and related policies and ensuring timely and accurate reporting to the directors and the business as required. Also to ensure Expense Accounting Group meets all expense processing and reporting requirements in line with business requirements. Overall ensuring timely and accurate reporting to the appropriate bodies, whether internal or external (Bank of England, Regulators and external auditors) and maintaining an effective Financial Control Environment. You will also be responsible for ensuring governance requirements for Europe and Asia are met, there is an appropriate Governance structure and provide advisory services for process enhancements, control implementation, key risk identification, regulatory exposure among various others. You will be responsible for ensuring ongoing control effectiveness of the control environment through test plans, reviews and control design, reporting to management and suggesting improvements as required..
The UK Finance group provides expert information, advice and decision-making support to facilitate the success of the Europe and Asia Pacific CIBC Capital Markets, Treasury and Wholesale Origination businesses. The UK Finance group provides four key services to our clients: daily and monthly management reporting, regulatory reporting, statutory reporting, and data management. These services are scalable and flexible across the board to meet the evolving needs of the business, and support business growth and expansion.
Manage Financial Reporting and Governance teams to ensure team objectives are met.
Complete performance objectives and reviews for team members.
Own and Manage the financial reporting cycle for Europe, covering Financial statements Lux, FINREP got both London Branch and Lux and the Branch Return (London Branch) plus any other related reporting requirements assigned to your team.
Manage the GL Close Process, identifying errors prior to close and ensuring the integrity of the London Ledger. Ensure monthly attestations, reconciliations are complete and reviewed for any exceptions. Own and resolve, in conjunction with Finance Toronto, Org Unit owners, HR and other relevant parties in GL/ accounting issues, as they arise.
Manage Expense Accounting, ensuring timely payment of suppliers and clearance of cash suspense..
Review of revenue and cost streams and perform sensitivity analysis around variances and ensure items are booked appropriately and material errors corrected before month end close.
Ensure all reporting and commentaries required by management is completed in timely and accurate manner.
Ensure effective controls are in place for areas of responsibility in line with SOX requirements.
In conjunction with the Allocations Management Group work towards achieving a satisfactory level of comfort that the London support allocations are reasonable and booked at the correct org units and desk level. Review cost allocations to the UK region to validate appropriateness of charges
Be the London point of contact on all Allocations and Transfer Pricing issues and establish good relations with all interested parties in order to ensure London’s position on transfer pricing is clearly understood and maintained. Ensure transfer pricing amounts booked correctly and summarized with all invoice documentation
Review the reporting processes and consider/implement potential improvements and automations the streamline the processes and for inclusion in the net reduction tracker.
To be Finance governance lead for Europe and APAC, ensuring Finance’s oversight function ‘s role to ensure controls are properly documented, monitored and tested in line with Program Tempo requirements.
Control Activities: Review controls and testing for design and operating effectiveness, identify any control deficiencies and monitor timely implementation of remediation plans.
Operational Risk Management: Monitor the completion of incident reports, Risk and controls self-assessments and change initiative risk assessments. Ensure that CIBC London and Luxembourg documents and assesses the effectiveness of its RCM controls
Relationship Management: Primary relationship manager with key stakeholders across the Europe including: Internal Audit, Risk Management, Compliance, external auditors and the Business.
Team Support - Maintain a collaborative work environment and support team members to resolve organizational, operational, and process problems.
Regulatory Compliance Monitoring (RCM) Activities - ensuring Effectiveness templates are completed by collaborating with key stakeholders in Europe and APAC and incorporating any feedback and comments regarding the same from the RCM Programme Management (PM) team.
Assume oversight of regional SOX Officer who is accountable for ensuring SOX testing, documentation and reporting requirements are met.
Participate in projects and initiatives as they arise, as directed by ED, Head of External Reporting.
Provide regional CFO and Head of Europe with ad hoc information requirements as required.
Provide support as required to CFO and Head of External Reporting and work closely with them as part of continued career development and succession planning.
Accountant with at least 10years experience of working within Investment Banking.
Excellent people management skills
Strong Excel skills; Pivot tables, lookup functions and other data manipulation functions – Essential
Good analytical ability
Excellent written and verbal communication skills
Self-motivated and taking initiative under limited supervision
Ability to work under pressure and to tight deadlines
Ability to analyse processes and recommend improvements
Ability to question and challenge current working procedures with a view to being creative and proactive to enhance and maintain controls and reporting requirements both current and future. Essential.
Ability to evaluate and influence new proposals.
Experience of Essbase and Corporate General Ledger experience – Highly desired
What you need to know
Job Location
150 Cheapside, London, UKEmployment Type
RegularWeekly Hours
35Skills
Accounting, Communication, Deliverables Management, Finance, Financial Analysis, Financial Consulting, Financial Reporting and Analysis, Governance Reporting, Internal Auditing, People Management, Preparation of Financial Reports, Regulatory Compliance, Regulatory Requirements, Risk Assessments, Risk Management