Business Finance

**Business Finance - AVP**:
**Job ID**:R0356967**Full/Part-Time**:Full-time**Regular/Temporary**:Regular**Listed**:2024-10-22**Location**:Mumbai**Position Overview**:
**In Scope of Position based Promotions (INTERNAL only)**

**Job Title: Business Finance**

**Corporate Title: AVP**

**Location: Mumbai, India**

**Role Description**
- The Business Finance function is responsible for the production of business level revenue attribution, financial accounting and financial disclosures.
- It ensures, on a daily basis, the accurate and timely reporting of Profit and Loss (PnL) for each business unit and ensures that the drivers behind the risk positions and PnL are fully understood and explained.
- It also ensures that all of the Bank’s transactions and positions are correctly reflected in the Bank’s accounting records and disclosures, in accordance with relevant accounting standards.

**Revenue Control roles have the following common characteristics**:

- Produce daily profit and loss for the business unit/trading center
- Provide necessary transparency of controls done either for quality assurance or for final validation and control performance
- Obtain necessary sign-off from Front-Office (Traders) of the reported P&L
- Resolve daily FOBO cash breaks for the business
- Participate in CTB (Change the Bank) initiatives of the team as well as domain-wide
- Liaise with different support teams for escalation and remediation of daily issues encountered
- Collaborate with Financial Controlles and Business Relationship managers to ensure front to back controls are managed effectively.
- Work with different stakeholders to improve existing processes and outputs

**Financial Control roles have the following common characteristics**:

- Performs month end close activities
- SAP journals, reconciliations, balance sheet substantiations and reporting.
- Produce and review Business level internal and external financial disclosures
- Performs QA function for processes within their teams remit and regularly assesses the effectiveness of the checks
- Engages with CTB/SME (Change the Bank / Subject Matter Expert) in order to deliver change
- Facilitates CTB initiatives and drives continuous improvement program within their team
- Second level of escalation for team issues and for stakeholder escalation
- Manages the resolution of product reconciliation break / exception items in a timely manner
- Close Self-Identified Issues and Audit points on timely basis
- Monitoring of exceptions including investigation and explanation
- Review of Balance sheet substantiation and perform Balance Sheet certification as Primary or Secondary Account Owner
- Process standardization across business
- Provides summary of KRI's for their business area and remediation plans where SLA's are being missed and/or where issues exist
- Responsible for ensuring that KOPs are reviewed for relevance and effectiveness on a timely basis.
- Work with different stakeholders to improve existing processes and outputs
- The position sits with Rates Business for EMEA region.

**What we’ll offer you**

As part of our flexible scheme, here are just some of the benefits that you’ll enjoy
- Best in class leave policy
- Gender neutral parental leaves
- 100% reimbursement under childcare assistance benefit (gender neutral)
- Sponsorship for Industry relevant certifications and education
- Employee Assistance Program for you and your family members
- Comprehensive Hospitalization Insurance for you and your dependents
- Accident and Term life Insurance
- Complementary Health screening for 35 yrs. and above

**Your key responsibilities**
- The role is Rates business aligned and will entail multiple sub product businesses.
- Strong product knowledge on Interest Rates derivatives, with sound understanding of risks and valuations
- Responsible for the oversight and management of the generation of the daily independent Risk and P&L in a timely manner, ensuring daily reconciliation and position reports as required.
- Reviews any exceptions raised in reports by the team and/or escalated by the supervisor
- As the key point of contact for traders and onshore colleagues, ensures all queries are rectified on a timely basis
- Facilitates business growth and re-organisation. Involvement with the NPA (New Product Approval) process, making changes to reporting process as required.
- Participate and execute strategic systems role out and other Change the Bank initiatives.
- Work to ensure process standardisation across global product reporting, applied to both workflow practice and work tools that are used. Ensures a robust and scalable production process.
- Responsible for the talent development and training requirements of team, delegating to supervisors where applicable
- Flexibility regarding problem solving
- Keeps pace with technical innovation and market driven initiatives
- Strong interpersonal/good negotiations skills
- Be comfortable & willing to drive process improveme