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Job Details
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| Conduits, Financial Controller |
| bs/cd2459d/00013260 |
| RBS |
| Debt / Fixed Income |
| Negotiable |
| London - UK |
South East
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| Permanent |
| 01/11/2009 10:04:00 |
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| Job Description |
Job Description
RBSG Conduits business:
The Asset-backed Commercial Paper market remains an integral part of the Global Financial system, providing a vital source of funding for Financial Institutions and corporates as well as liquidity to the money markets- RBSG is a significant player in the global conduit business with conduits spanning the USA, Europe and Asia Pacific-
The Conduit business is led by a Global COO and regional origination & structuring teams reporting functionally into the Financial Institutions Debt Capital Markets business- This in turn forms part of the wider GBM Credit Markets business-
Finance Role Description:
This is a role within RBS GBM Finance reporting into the Senior Financial Controller for Conduits- This is a great opportunity for the successful candidate to gain a thorough understanding of the Conduit business and have the ability to work very closely with Senior Front Office staff on a regular basis to ensure results are delivered- The core challenges to the role in addition to the Business Unit Control functions will revolve around: the supporting of the EMEA Conduit Origination Head and the Global Conduit COO; production of a management and Finance specified monthly MI Reporting Pack and finalising the integration of the RBS and ABN businesses-
Whilst this role will report to the Senior Financial Controller for Conduits locally the role will interface extensively with teams in the Netherlands; Singapore and the US for all matters associated with the RBSG's Global Conduit Business-
ROLE OVERVIEW
The role will support the Financial Control, Product Control and Business Analysis activities of the EMEA Conduit Business- Duties and responsibilities will include:
. Financial and Product control (Daily P&L and month end balance sheet substantiation) for all Conduit related activity
. All conduit risk weighted asset/capital forecasting - of particular importance under Basel 2
. Production and analysis of MI data in respect of business performance (including involvement in budgeting process)
. Independent Price verification - including pricing on complex and illiquid products-
. Provision and co-ordination of accounting and regulatory advise to the Originating and Structuring business on all transactions
. Assisting front office with reporting & technical advice relating to client pitches-
The individual will be required to establish collegiate working relationships, at all levels, with both the business and support areas (e- g- Market Risk, Operations, Credit Risk) as well as other areas within Finance, in order to provide an integrated and proactive approach to business development and facilitation- This is a major focus for the role whereby a close working relationship with the Front Office will be crucial for the success of the role-
Requirements
. Qualified ACCA/ACA/CIMA
. Experience of working and building strong business relationships in a changing and fast moving environment;
. Experience of influencing at managerial level and maintaining ongoing relationships with key clients;
. Experience of working autonomously to prioritise own workload in a time-pressured environment;
. Exposure to Structured Transactions, Securitisations or other fixed Income Products
. Strong Product and Financial Control experience in a Financial Institution-
. Good Knowledge of IFRS
. Experience of delivering results in a fast moving, dynamic environment with proven ability to adapt and be responsive to changing customer, sponsor and stakeholder requirements;
Responsibilities
Daily p & l process for allocated Desk(s)
. Accurate and timely production of the daily p & l process (the Daily P&L is part of a wider process, interaction will be to ensure the results produced daily for the Conduits are accurate and correctly reflect the results of the business)
. Ensure all adjustments are corrected on a timely basis
. Ensure p & l by driver is investigated, understood and delivered to the Front Office
. Ensure p & l on new deals is monitored and reported
. Ensure that appropriate controls are exerted on a daily basis in order to facilitate balance sheet substantiation-
. Ensure that any issues are escalated appropriately on a daily basis
Month-end financial reporting process for the allocated Area(s)
. Ensure the timely validation and sign-off of the sub-ledgers and accurate population with the main consolidation systems
. Ensure full balance sheet substantiation and seek verification relating areas outside immediate control e- g- nostro balances
. Ensure integrity between the financial and management accounts with minimal differences between daily and monthly
. Ensure currency p & l is monitored and sold off together with remittance to a central area
All pricing and valuation issues, including off-market rate analysis in respect of all positions held by the Desk(s)
. Ensure that independent pricing of all positions is performed on a daily basis or as identified by the "IPV Compliance Statement" ensuring that non-compliance is escalated accordingly-
. Liaise closely with the Global Independent Pricing Unit and the Technical Support Team on valuation issues
. Contribute to the monthly Banking Book IPV Memo sent to the GPU-
Balance sheet substantiation and control for the allocated Desk(s)
. Ensure that all balances within agreed cost centres are subject to strict reconciliation, substantiation and control
. Liaise closely with other support areas who provide Finance with the above service whilst noting that ultimate responsibility rests with the Finance
. Escalate all control issues to the Financial Controller
Preparation and production of the monthly MI Pack for Management
. Collaborate with the business to define and construct an MI Pack
. Work with management to gain their buy-in to the reported numbers both ABN and RBS
. Provide commentary to Management on a monthly basis highlighting key notable events
. Ensuring that the ledger structure is accurate and up to date to allow accurate monthly reporting
Project work covering controls enhancement, efficiency initiatives and strategic developments in order to provide business advantage
. Identify control and efficiency initiatives
. Contribute to control and efficiency initiatives
. Assist in major systems developments
. Perform ad-hoc project roles
. Contribute significantly to the Basel II project
. Assisting in system development, testing and implementation
. Assist in providing MI to the business
. Assist in the implementation of the strategic review including Core / Non-core business distribution and the asset protection scheme
. Contribute to clearing items on the team issues log
Regular and ad-hoc analysis of aspects of the business both tactical and strategic
. Assist as appropriate in order to ensure that all proposed new products or variations of existing products can be appropriately booked, accounted for and independently valued and measured through the New Product Approval Process
. Ensure daily and monthly p & l commentaries are produced to the highest standards and accurately reflect market movements vs- positions held
. Liaise as appropriate with the Business in order to perform ad-hoc value added analysis
The Individual
. Very Strong Control focus
. Active appreciation of general Financial Control concepts/requirements
. Ability to understand the products traded so as to provide insight and analysis rather than being purely production focused
. Ability to work efficiently as part of a team across varying disciplines
. Ability to investigate issues fully in order to ensure that all areas of concern are covered
. Sound product knowledge across all relevant products would be an advantage
. Sound analytical and mathematical skills
. Ability to work with minimal supervision;
. Able to deliver under pressure
. Excellent inter-personal and communication skills required;
. Must be able to work to tight reporting deadlines;
. Ad hoc nature of role requires a flexible approach and the ability to multi-task-
. Self motivator with an inquisitive nature
. Hands on team player
. Independence
. Flexible and willing to learn
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