Job Description
Divisional Overview: The Non-Core Division manages in excess of £250 billion of assets (plus £73 billion of derivatives) across a mixture of business units, products, geographic locations and customer relationships- The effective management of these assets is a core part of the bank's strategy of stand alone strength regardless of the fact they are not core to RBS long term portfolio-- The Asset Protection Scheme (APS) is a key part of the UK government's measures to restore stability and confidence in the banking sector and increase the capacity of banks to lend- The APS is open to all UK-regulated banks and RBS Group has announced its intention to participate- Entering into the APS will allow RBS to enhance its financial strength and to provide improved stability for customers- Roles within the combined Non-Core and APS division are very high profile as success is essential in ensuring the financial stability of RBS Group- Real Estate The Real Estate Finance team is required to support the demanding needs of the Real Estate Finance business within the Non Core division, ensuring a robust control framework is in place- The team is made up of 6 members and facilitates all aspects of Financial Control- Given the complexity and high profile nature of the business, REF impacts many different areas of Investment Banking- As Finance plays a pivotal role in supporting the business, the role provides an opportunity to gain a broad exposure to the investment banking business, in particular the following: - Multiple Products, including bonds, interest rate, securitisation, syndication and credit default swaps
- Technical IAS Accounting, including Hedge Accounting, Group accounting issues and multi entity consolidation issues
- Regulatory considerations such as Risk weighted assets, capital adequacy and distributable reserves
- Full Statutory Reporting-Subsidiary Statutory accounts from production through to Board Director sign off
- Group Treasury, including derivative volatility management and funding
- New product approvals process-working with the Front office and other support functions to support new trades
- Decision support, forecasting and business analysis
Responsibilities
This role encompasses the financial control of the PLC element of the business and will be responsible for: - Co-ordination and control surrounding the daily P&L process to include continual review and improvements
- Control and monitoring of Fees in suspense, ensuring a joined up approach with other related Finance teams
- Central REF month end activity including IAS 18 Fee releases, and various other month end adjustments
- Ownership and maintenance of the REF Cost Centre hierarchy
- Aggregation of flash reporting for the whole business including appropriate commentary
- Ownership of the monthly Plc Balance Sheet substantiation process
- HCS Consolidation of 2 European subsidiary businesses
- Responsibility for 2 vanilla UK subsidiaries, including Statutory Accounts production
- Liaison with the business and decision support teams on all REF related matters to specifically include forecasting, budgets and WRA analysis-
In addition to the above it is expected that the successful candidate will be actively involved in many projects affecting the team-
The Individual
Essential Experience: Business knowledge - Broad knowledge of banking
- Ability to communicate effectively with key business customers
Technical knowledge - A recognised accounting qualification including a good understanding of IFRS
- Knowledge of GBM finance systems would be an advantage
Supplementary Experience: - Excellent Microsoft Office skills
Additional Website Text
Personal Attributes: - Ability to be creative in problem solving and issue resolution
- Organised and structured approach
- Customer focused
- Aptitude and focus on Continuous improvement
- Team working and collaboration skills
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