VP – Level 1 Accounting Controls and Monitoring

Employment contract:

Standard / Permanent

Location:

Mumbai, Maharashtra, India

Job/mission:

FINANCE ACCOUNTS AND MANAGEMENT CONTROL

Reference:

FIN003687

 

About BNP Paribas India Solutions:

Established in 2005, BNP Paribas India Solutions is a wholly owned subsidiary of BNP Paribas SA, European Union’s leading bank with an international reach. With delivery centers located in Bengaluru, Chennai and Mumbai, we are a 24×7 global delivery center. India Solutions services three business lines: Corporate and Institutional Banking, Investment Solutions and Retail Banking for BNP Paribas across the Group. Driving innovation and growth, we are harnessing the potential of over 10000 employees, to provide support and develop best-in-class solutions.

 

About BNP Paribas Group:

 BNP Paribas is the European Union’s leading bank and key player in international banking. It operates in 65 countries and has nearly 185,000 employees, including more than 145,000 in Europe. The Group has key positions in its three main fields of activity: Commercial, Personal Banking & Services for the Group’s commercial & personal banking and several specialised businesses including BNP Paribas Personal Finance and Arval; Investment & Protection Services for savings, investment, and protection solutions; and Corporate & Institutional Banking, focused on corporate and institutional clients. Based on its strong diversified and integrated model, the Group helps all its clients (individuals, community associations, entrepreneurs, SMEs, corporates and institutional clients) to realize their projects through solutions spanning financing, investment, savings and protection insurance. In Europe, BNP Paribas has four domestic markets: Belgium, France, Italy, and Luxembourg. The Group is rolling out its integrated commercial & personal banking model across several Mediterranean countries, Turkey, and Eastern Europe. As a key player in international banking, the Group has leading platforms and business lines in Europe, a strong presence in the Americas as well as a solid and fast-growing business in Asia-Pacific. BNP Paribas has implemented a Corporate Social Responsibility approach in all its activities, enabling it to contribute to the construction of a sustainable future, while ensuring the Group’s performance and stability

 

 

Commitment to Diversity and Inclusion

At BNP Paribas, we passionately embrace diversity and are committed to fostering an inclusive workplace where all employees are valued, respected and can bring their authentic selves to work. We prohibit Discrimination and Harassment of any kind and our policies promote equal employment opportunity for all employees and applicants, irrespective of, but not limited to their gender, gender identity, sex, sexual orientation, ethnicity, race, colour, national origin, age, religion, social status, mental or physical disabilities, veteran status etc. As a global Bank, we truly believe that inclusion and diversity of our teams is key to our success in serving our clients and the communities we operate in.

 

About Business line/Function:

Subject Matter Stream (SMS) within Financial Shared Services (FSS) is responsible for accurate and timely financial accounting/cost accounting/management accounting, reporting and budgeting activities. Level 1 Controls team is primarily responsible for Back office to General Ledger reconciliation for multiple systems and ensuring the breaks are actioned timely.

 

 

 

Job Title:

Vice President,

Lead -L1C team

Date:

 

Mar’24

Department:

FSS SMS

Location:

Mumbai

Business Line / Function:

CIB Finance

Reports to:

(Direct)

 

Grade:

(if applicable)

Level 1/2

(Functional)

HOD

Number of Direct Reports:

Direct – 5

Total – 25

Directorship / Registration:

NA

 

Position Purpose

The jobholder will be responsible for leading the SMS Level 1 Control team(L1C) for UK and EMEA whose primary responsibilities are below: –

1. Performing reconciliation from Back Office (BO) to General Ledger (GL) specific to capital market Products

2.     Preparing dashboard for presentation to senior stake holders

3.     Identifying root cause for the breaks identified in reconciliation and liasoning with respective teams to fix the break including passing entries to ensure true and fair view of financials

The Subject Matter Stream L1C team is primarily responsible for month end closing along with providing oversight and control over day-to-day transactions, operations and activities required for the daily activities, including the recording of revenue arising from transactions from various activities including Global Market activities and Financing activities.

The role will require regular interaction with other Finance teams in Region and Mumbai and other control functions and provides the role holder with a broad view of the activities and processes in the Finance function and other functions on which Finance is dependent. 

 

Responsibilities

 

 Direct Responsibilities

 

Accounting & Control Functions

Direct managing a team of 25+ newly established team, responsible for the career and personal development of the team. 

Managing and ensuring smooth Client relationship 

Contribute to the performance of 1st level accounting controls on a list of key areas defined by the BNP Paribas Group.  This includes review of the 1st level controls for all major financial and accounting areas, including all banking products’ accounting and reconciliations, Custody reconciliations, Revenue Recognition, Credit and portfolio risk and provisioning, Nostro controls, Manual entries, FX sell-down, intercompany reconciliation etc. 

Ensure that the Accounting Control Repository Database is updated with the changes in accounts, controls and ownership. 

Monitor account and 1st level control sign-off and escalate problems identified.  

Contribute to the preparation of the “Stats Reports” that provides HOD/FSS Head with an overview of accounting control outcome on a monthly basis.  

Monitor Accounting Control outcomes through key performance and key risk indicators. 

Prepare ad hoc control memo upon request when an issue is identified.  

Ensure the good coordination with the Regional Financial Reporting team, in particular whenever an accounting issue needs to be addressed. 

Participate to Finance Projects linked to Accounting Controls  

Contribute to BNP Paribas operational permanent control framework. 

Report incidents and accounting issues.  

 

         Review BO GL reconciliations on daily/monthly basis and understand the gaps and how the same can be actioned

·       Enforce controls and ensure that suspense and other sensitive accounts do not have unexplained balances

·       Review daily transactional account activity/daily ledgers for posting errors and back-value transactions

·       Review ledgers and perform account and transaction analysis for a set of entities.

·      Prepare dashboard for senior management on the status of breaks identified along with root cause

·       Review month-end substantiation packages for multiple legal entities.

·       Ad-Hoc Requests (profit center creation) / Intra day

·       Assists with audit requests from External Audit, Regulators, and internal control teams.

 Decision Support: Provide in-depth analysis of historical financials, variance explanations, key performance indicators for evaluation of business decisions and identify levers that can be pulled to optimize performance/goals.

 

Management Reporting: Establish the appropriate governance and cadence necessary to provide relevant stakeholders with timely commentary and insights into KPIs and operational results.

 

Controls: Review and implement robust controls framework regularly for consistent high-quality delivery:

Identify and mitigate risks in process delivery, focus on process enhancements/harmonization and ensure a proficient setup to increase the team’s efficiency and effectiveness.

Direct contribution to BNP Paribas operational permanent control framework, adhere to compliance requirements, SLA preparation / review and review of operational procedures.

 

People Management:

Set objectives, ensure accurate performance evaluation, provide regular feedback, manage talent pool and career paths, support mobility for the teams.

Coach team of finance professionals and guide their career planning.

Manage costs by driving efficiencies, effective hiring for optimal team pyramids, etc.

 

 

 

 

 

 

 

 

Contributing Responsibilities

 

Change Management

 

Ensure active change management for globally driven/locally initiated transformation projects.

Participate in the technology upgrades of respective accounting/reporting tools (OFS, Dream Fit, etc.), as well as system enhancements required to facilitate new / modified reporting requirements. In connection with this effort, ensure timely user acceptance testing and troubleshooting.

 

Technical & Behavioral Competencies

 

1.       Qualified Chartered Accountant 

2.       Accounting degree or equivalent 

3.       9-10 years experiences on accounting audit or accounting control 

4.       Banking (mandatory) 

5.       IFRS knowledge (Preferable)  

6.       Solid understanding of financial instruments and developed skills in analysis of business supporting processes from accounting control perspective. 

7.       Knowledge of Investment banking products 

8.       Strong organizational skills, rigorous, and self-disciplined 

9.       Attention to detail and commitment to maintaining a strong control environment. 

10.    Good communication skills, (i.e. writing, listening, presentation) 

11.    Advanced technical skills (i.e. MS Word, Excel, PowerPoint, Access) 

12.    Former audit experience or experiences on the accounting controls within a Finance function in Banking and Financial Services (mandatory) 

13.    Financial Accounting and Controls function in banking industry OR 

14.    Finance Audit experience for Banking Sector 

 

 

Specific Qualifications (if required)

Chartered Accountant with relevant experience

Chartered Accountant with relevant experience

Behavioural Skills: (Please select up to 4 skills)

Ability to collaborate in a global environment

Results driven

Creativity & Innovation / Problem solving

Adaptability

Transversal Skills: (Please select up to 5 skills)

 

Ability to manage 15-20 people team

Analytical Ability / Critical Thinking

Ability to develop and adapt a process

Ability to anticipate business / strategic evolution

Ability to inspire others & generate people’s commitment

Education Level:

Master Degree or equivalent

Experience Level

At least 15 years

Other/Specific Qualifications (if required)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

About BNP Paribas India Solutions:

Established in 2005, BNP Paribas India Solutions is a wholly owned subsidiary of BNP Paribas SA, European Union’s leading bank with an international reach. With delivery centers located in Bengaluru, Chennai and Mumbai, we are a 24×7 global delivery center. India Solutions services three business lines: Corporate and Institutional Banking, Investment Solutions and Retail Banking for BNP Paribas across the Group. Driving innovation and growth, we are harnessing the potential of over 10000 employees, to provide support and develop best-in-class solutions.

 

About BNP Paribas Group:

 BNP Paribas is the European Union’s leading bank and key player in international banking. It operates in 65 countries and has nearly 185,000 employees, including more than 145,000 in Europe. The Group has key positions in its three main fields of activity: Commercial, Personal Banking & Services for the Group’s commercial & personal banking and several specialised businesses including BNP Paribas Personal Finance and Arval; Investment & Protection Services for savings, investment, and protection solutions; and Corporate & Institutional Banking, focused on corporate and institutional clients. Based on its strong diversified and integrated model, the Group helps all its clients (individuals, community associations, entrepreneurs, SMEs, corporates and institutional clients) to realize their projects through solutions spanning financing, investment, savings and protection insurance. In Europe, BNP Paribas has four domestic markets: Belgium, France, Italy, and Luxembourg. The Group is rolling out its integrated commercial & personal banking model across several Mediterranean countries, Turkey, and Eastern Europe. As a key player in international banking, the Group has leading platforms and business lines in Europe, a strong presence in the Americas as well as a solid and fast-growing business in Asia-Pacific. BNP Paribas has implemented a Corporate Social Responsibility approach in all its activities, enabling it to contribute to the construction of a sustainable future, while ensuring the Group’s performance and stability

 

 

Commitment to Diversity and Inclusion

At BNP Paribas, we passionately embrace diversity and are committed to fostering an inclusive workplace where all employees are valued, respected and can bring their authentic selves to work. We prohibit Discrimination and Harassment of any kind and our policies promote equal employment opportunity for all employees and applicants, irrespective of, but not limited to their gender, gender identity, sex, sexual orientation, ethnicity, race, colour, national origin, age, religion, social status, mental or physical disabilities, veteran status etc. As a global Bank, we truly believe that inclusion and diversity of our teams is key to our success in serving our clients and the communities we operate in.

 

About Business line/Function:

Subject Matter Stream (SMS) within Financial Shared Services (FSS) is responsible for accurate and timely financial accounting/cost accounting/management accounting, reporting and budgeting activities. Level 1 Controls team is primarily responsible for Back office to General Ledger reconciliation for multiple systems and ensuring the breaks are actioned timely.

 

 

 

Job Title:

Vice President,

Lead -L1C team

Date:

 

Mar’24

Department:

FSS SMS

Location:

Mumbai

Business Line / Function:

CIB Finance

Reports to:

(Direct)

 

Grade:

(if applicable)

Level 1/2

(Functional)

HOD

Number of Direct Reports:

Direct – 5

Total – 25

Directorship / Registration:

NA

 

Position Purpose

The jobholder will be responsible for leading the SMS Level 1 Control team(L1C) for UK and EMEA whose primary responsibilities are below: –

1. Performing reconciliation from Back Office (BO) to General Ledger (GL) specific to capital market Products

2.     Preparing dashboard for presentation to senior stake holders

3.     Identifying root cause for the breaks identified in reconciliation and liasoning with respective teams to fix the break including passing entries to ensure true and fair view of financials

The Subject Matter Stream L1C team is primarily responsible for month end closing along with providing oversight and control over day-to-day transactions, operations and activities required for the daily activities, including the recording of revenue arising from transactions from various activities including Global Market activities and Financing activities.

The role will require regular interaction with other Finance teams in Region and Mumbai and other control functions and provides the role holder with a broad view of the activities and processes in the Finance function and other functions on which Finance is dependent. 

 

Responsibilities

 

 Direct Responsibilities

 

Accounting & Control Functions

Direct managing a team of 25+ newly established team, responsible for the career and personal development of the team. 

Managing and ensuring smooth Client relationship 

Contribute to the performance of 1st level accounting controls on a list of key areas defined by the BNP Paribas Group.  This includes review of the 1st level controls for all major financial and accounting areas, including all banking products’ accounting and reconciliations, Custody reconciliations, Revenue Recognition, Credit and portfolio risk and provisioning, Nostro controls, Manual entries, FX sell-down, intercompany reconciliation etc. 

Ensure that the Accounting Control Repository Database is updated with the changes in accounts, controls and ownership. 

Monitor account and 1st level control sign-off and escalate problems identified.  

Contribute to the preparation of the “Stats Reports” that provides HOD/FSS Head with an overview of accounting control outcome on a monthly basis.  

Monitor Accounting Control outcomes through key performance and key risk indicators. 

Prepare ad hoc control memo upon request when an issue is identified.  

Ensure the good coordination with the Regional Financial Reporting team, in particular whenever an accounting issue needs to be addressed. 

Participate to Finance Projects linked to Accounting Controls  

Contribute to BNP Paribas operational permanent control framework. 

Report incidents and accounting issues.  

 

         Review BO GL reconciliations on daily/monthly basis and understand the gaps and how the same can be actioned

·       Enforce controls and ensure that suspense and other sensitive accounts do not have unexplained balances

·       Review daily transactional account activity/daily ledgers for posting errors and back-value transactions

·       Review ledgers and perform account and transaction analysis for a set of entities.

·      Prepare dashboard for senior management on the status of breaks identified along with root cause

·       Review month-end substantiation packages for multiple legal entities.

·       Ad-Hoc Requests (profit center creation) / Intra day

·       Assists with audit requests from External Audit, Regulators, and internal control teams.

 Decision Support: Provide in-depth analysis of historical financials, variance explanations, key performance indicators for evaluation of business decisions and identify levers that can be pulled to optimize performance/goals.

 

Management Reporting: Establish the appropriate governance and cadence necessary to provide relevant stakeholders with timely commentary and insights into KPIs and operational results.

 

Controls: Review and implement robust controls framework regularly for consistent high-quality delivery:

Identify and mitigate risks in process delivery, focus on process enhancements/harmonization and ensure a proficient setup to increase the team’s efficiency and effectiveness.

Direct contribution to BNP Paribas operational permanent control framework, adhere to compliance requirements, SLA preparation / review and review of operational procedures.

 

People Management:

Set objectives, ensure accurate performance evaluation, provide regular feedback, manage talent pool and career paths, support mobility for the teams.

Coach team of finance professionals and guide their career planning.

Manage costs by driving efficiencies, effective hiring for optimal team pyramids, etc.

 

 

 

 

 

 

 

 

Contributing Responsibilities

 

Change Management

 

Ensure active change management for globally driven/locally initiated transformation projects.

Participate in the technology upgrades of respective accounting/reporting tools (OFS, Dream Fit, etc.), as well as system enhancements required to facilitate new / modified reporting requirements. In connection with this effort, ensure timely user acceptance testing and troubleshooting.

 

Technical & Behavioral Competencies

 

1.       Qualified Chartered Accountant 

2.       Accounting degree or equivalent 

3.       9-10 years experiences on accounting audit or accounting control 

4.       Banking (mandatory) 

5.       IFRS knowledge (Preferable)  

6.       Solid understanding of financial instruments and developed skills in analysis of business supporting processes from accounting control perspective. 

7.       Knowledge of Investment banking products 

8.       Strong organizational skills, rigorous, and self-disciplined 

9.       Attention to detail and commitment to maintaining a strong control environment. 

10.    Good communication skills, (i.e. writing, listening, presentation) 

11.    Advanced technical skills (i.e. MS Word, Excel, PowerPoint, Access) 

12.    Former audit experience or experiences on the accounting controls within a Finance function in Banking and Financial Services (mandatory) 

13.    Financial Accounting and Controls function in banking industry OR 

14.    Finance Audit experience for Banking Sector 

 

 

Specific Qualifications (if required)

Chartered Accountant with relevant experience

Chartered Accountant with relevant experience

Behavioural Skills: (Please select up to 4 skills)

Ability to collaborate in a global environment

Results driven

Creativity & Innovation / Problem solving

Adaptability

Transversal Skills: (Please select up to 5 skills)

 

Ability to manage 15-20 people team

Analytical Ability / Critical Thinking

Ability to develop and adapt a process

Ability to anticipate business / strategic evolution

Ability to inspire others & generate people’s commitment

Education Level:

Master Degree or equivalent

Experience Level

At least 15 years

Other/Specific Qualifications (if required)