Avp - Accounting Control

1 week ago

Mumbai, Maharashtra, India RiverForest Connections Private Limited Full time

About Businessline/Function:

Company is set up as a Shared Service Centre and works on an Extended Plus model, within adefined governance structure.

It is a Global hub and delivers services to CIB/BOW Finance teamsacross the geographies. It is organized by 6 work streams and provides services across 29 countries

2LoD Control


The Accounting Control team performs a key role in maintaining the quality of the accounting control environment that underpins the Finance reporting processes: Group Head Office reporting, Statutoryreporting, Regulatory reporting and internal Performance Management reporting for the Regional platform.

The objective of the AC Level 2 control team is to provide independent assurance that Level 1 controls (i.e.

controls that are performed to ensure the accounting data is complete and accurate) are properly executed and that Group, CIB and local accounting control policies (inc the minimum control standards defined in the Standard Accounting Control Plan) are implemented appropriately.

This Level 2 control framework includes periodic detailed testing of the documented controls that underpin the

Regional accounting ledger balances and specific testing/review of balances and processes in accordance with the Company control policies.


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.

Direct Responsibilities

  • Direct managing a team of 57 people; setting up the team, responsible for the career and personal development of the team.
  • Managing and ensuring smooth client relationship
  • Contribute to the performance of 2nd level accounting controls on a list of key areas defined by the Company Standard Accounting Control Group Plan, including deal and position reconciliations, nostro reconciliations, manual entries, dormant accounts, risk rating and provisioning, intercompany reconciliation, internal deals, FX selldown etc.
  • Identify system / control deficiencies and propose solution to improve the accounting control environment
  • Ensure that the Accounting Control Repository Database is updated with the changes in accounts, controls and ownership
  • Based on the Accounting Control Repository Database, generate and release the Account owner signoff and first level control certification packages
  • Monitor account and 1st level control signoff and escalate problems identified.
  • Contribute to the preparation of the "Entity Control Reports" that provides Chief Financial Officers 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
  • Full ownership of handling the audits and inspections (mainly from Head Office and Regional Finance)
  • Responsible for migration of any new role, that is planned by the management
  • Contribute to Company operational permanent control framework.
  • Report incidents and accounting issues.

Technical & Behavioral Competencies

  • Qualified Chartered Accountant
  • Accounting degree or equivalent
  • 5+ years experiences on accounting audit or accounting control
  • Banking (mandatory)
  • IFRS knowledge (Preferable)
  • Solid understanding of financial instruments and developed skills in analysis of business supporting processes from accounting control perspective
  • Knowledge of Investment banking products
  • Strong organizational skills, rigorous, and selfdisciplined
  • Attention to detail and commitment to maintaining a strong control environment
  • Good communication skills, (i.e. writing, listening, presentation)
  • Advanced technical skills (i.e. MS Word, Excel, PowerPoint, Access)
  • Former audit experience or experiences on the accounting controls within a Finance function in Banking and Financial Services (mandatory)

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