Job Desciption
Position:
Manager Financial Accounting – Capital Markets
Department:
Financial Accounting
Status:
Permanent
Location:
Madrid
Update:
March 5, 2018
Report to
Head of Financial Accounting MadridFinance Service Centre
Mission and Objectives
The Manager of Financial Accounting – Capital Markets activities isprimarily responsible for providing oversight and control over day-to-daytransactions, operations and activities required for the day and month endclosing of all the transactions and controls generated by the Capital Marketsactivities associated to the following products: Derivatives, Securities,ALM Treasury, Equity, Clearing and Custody. Assumes responsibilities, which ensure that the financial records areproperly maintained and exceptions are resolved in a timely manner.
Main responsibilities
Accounting& Control Functions
- Manage the staff and supervisesthe day-to-day operations of team generated by the Capital Markets activitiesby:
- Supervisingand reviewing the collection, processing and reporting of revenue, provision,and transaction volume information for all business lines in the entities.
- Overseeing the monthly, quarterly,and annual closings of the general ledger for all the back offices processingsystems
- Providing control and monitoringissues/bottlenecks in the team by maintaining relevant KPIs (e.g. thetimeliness of reports, responsiveness of other parties in providing informationto their teams, the number of manual / late / correcting journal entries…)
- Coordinating task distribution,coverage, cross-training, and knowledge / information-sharing
- Providing support to Operations,as well as to other teams within Finance
- Make sure that the data reportedto Central Team and the Regional Fronting (PM) generated by the capital marketsand equity activities
- Prepare budget and Forecastprocess related to the capital market activates
- Transform the accounting data intomanagement accounting (profitability and cost allocation by Business Line)following the MARP (Management Accounting Rules and Principles)
- Contribute to the proper P&Land cost of funding reconciliation processes in compliance with Group and CIBFinance standards
- Act as the firstlevel of review toensure accuracy, completeness, and validity by reviewing and approving allrelated to Capital Markets activities:
- The operational processing ofrevenues and Cost of Risk (CVI and CVA)
- Assure the correct implementationof the 4 eyes principles control over the staff’s journal entries
- Reconciliations of accountbalances (e.g. transit and suspensory accounts related to financing activitiesand taxes)
- Reconciliations between systems /with Head Office (e.g. MO P&L with accounting, liquidity datareconciliation…)
- The reports generated by themanagement accounting activity (e.g. Flash reports, reporting of customer-levelprofitability)
- Justification of the balance andoff-balance accounts allocated to the department (e.g.: liquidity, securities,equities accounts, suspensory accounts, etc.)
- Reconciliation between Atlas2 /Midasand OFS in all related to capital markets and equity activities
- Reconciliation between Middle officeP&L and Accounting P&L, assuring that all the significant gaps areproperly identified, explained and followed up
- Reconciliation FX between Middleoffice positions and accounting. Additionally, assure the execution of the selldown process
- Assure the correct implementationof the custodian accounts reconciliation process performed by BP2S’s operationsdepartments
- Assure the daily control over theBP2S capital markets settlement activities
- Implement transactional accountingschemes and operational processes related to capital markets and equity activities
- Ensure the completeness andaccuracy of feeds from the operating systems (all the systems that managed capitalmarkets activities) to the general ledger through a second-level review of thereconciliation reports (e.g. OMR rectool…)
- Contribute to the BNPP operationalpermanent control framework
Projects,Systems Support, Operational Process Improvements for Loans, Deposits and Derivatives products:
- Formulate back officetransactional process improvements in production, control procedures, andworkflow organization to increase the team’s efficiency and effectiveness
- Oversee the update of static data(tables, parameters, allocations) and user maintenance for the tools/systemsunder the team’s responsibility
- In partnership with the Projectteam, contributes to the standardization/harmonization of best practices acrossthe general ledger and operational platforms
- Oversee the tools supporting thegeneral ledgers, as well as front/back office processing systemsupstream/downstream to the platform that are under the team’s responsibility(e.g. OMR, EL,etc.)
- Participate in the development,testing, and implementation of systems to support the activities of the team,assisting in:
- Definition of businessrequirements
- User acceptance testing
- Training of users
- Trouble-shooting after deployment
Other functions
· Ensure team’s observance of thebank’s policies and procedures
· Prepareshort and long term resource plans for his/her respective team; establishobjectives and performance standards/metrics, conducts performance reviews, andprovide coaching, counselling and career development of personnel
Requirements
Training and occupationalexperience
· Accounting degree or equivalent
· Minimum 8 years of experience inat least several of the following corporate and/or line of business disciplinespreferably within a corporate banking company: financial accounting andcontrol, financial planning and analysis, management reporting, audit (internal/external),compliance and risk managementpositions
· Minimum 3 years of experiencemanaging teams
· English speaking is mandatory
Essential specificrequirements
· In-depth knowledge andunderstanding of generally accepted accounting principles, IFRS, French GAP as well as LRR
· Strong financing productsknowledge, mainly related to derivatives, treasury and securities
· Strong understanding of financialand operational risk control requirements to ensure that financial systems inplace are compliant and continuously monitored
· Speaking French and other locallanguages a plus
Skills and behaviours
- Maturity, professional standing,strong interpersonal communication skills and presentation skills
- Solutions-oriented thinker who isable to generate creative ideas
- Ability to work collaborativelywith relevant teams; strong planning and organizational skills
- Understanding of systemrequirements and capabilities to ensure appropriate controls and operationalprocesses
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