Financial Reporting Senior Analyst
- Primary Location: Hungary,Budapest,Budapest
- Education: Bachelor's Degree
- Job Function: Finance
- Schedule: Full-time
- Shift: Day Job
- Employee Status: Regular
- Travel Time: No
- Job ID: 19017566
Citi as the leading global bank is present in 100+ countries, 55 of which are in Europe, Middle East and Africa (EMEA) region. In each of these countries the Central Banks and other financial regulatory bodies require the timely and accurate reporting of key monetary statistics that give information about the whole economy and ensuring that capital adequacy standards are met so that banks can defend the economy from the spill over effects in case of a financial crisis.
It requires a team of dedicated professionals, with knowledge in accounting, financial products, risk management and banking to be able to fulfil this requirement. While working with teams located across the globe Financial Reporting Analysts are responsible for the accurate and timely preparation of daily, weekly, monthly and quarterly management reports and regulatory returns, which detail important aspects of the bank's financials and therefore provide an invaluable source of information to company executives, regulators and other policymakers.
EMEA Regulatory Reporting Citi Service Centre (CSC) in Budapest is a key part of the Financial Controllers function. It is Citi's pioneering centre on a global scale where local regulatory reporting professionals work together in a central location, to ensure consistent quality of local regulatory reporting across multiple jurisdictions and legal vehicles.
The CSC is organized into 6 areas based on their function:
- Prudential Reporting team calculates capital adequacy based on Basel2/3 including Own Funds Requirement, Large Exposures and Leverage Ratio:
o Credit Risk team covers the monitoring and reporting of capital, credit risk, CVA risk, large exposure risk and the leverage ratio which forms the basis of capital management decisions.
o Market Risk team covers monitoring and reporting of market risk and monitors the trading desks' capital usage versus the assigned targets and supports traders with analysis of their portfolio.
- Statistical Reporting team covers Central Bank for key monetary statistics, based on which important monetary policy decisions are made and also does liquidity reporting and Anacredit.
- Statutory Reporting team prepares the final financial statements of the firm and liaises with external auditors about them.
- ICAAP (Internal Capital Adequacy Assessment Process) Reporting team prepares annual regulatory reports assessing at a legal entity level the 3 year forecast capital projection under both base and stress case scenarios.
- Controls and Standardisation team ensures consistency of controls across the above areas.
- Regulatory Reporting System Implementation team is responsible for new systems development and implementation of new rules and regulations.
The department's role encompasses from end to end the reporting processes centralized in the CSC for regulated legal vehicles in EMEA.
- Members of the CSC always strive to improve processes and strengthen the control environment, while continuing to make Citi a great place to work.
- Production & delivery of daily, monthly & quarterly regulatory returns and monitoring reports
- Maintenance and further enhancement of controls & reports including reconciliations, adjustments & variance analysis
- Participation in efficiency and innovation projects on ad hoc basis by reviewing and developing current processes and enhancing controls.
- Liaising with multiple departments of the covered countries (including Financial Control, Treasury, Risk and Technology departments) to resolve issues
- Provide support to country Finance teams on an ad-hoc basis (e.g. audits, regulatory inquiries)
- Check and ensure that procedures, process notes and policies are up-to-date and applied to adequately cover rules and regulations
- Proactively identify, escalate and help resolve issues
- Review the regulatory reporting control environment of any new countries whose processes are being migrated to the CSC and come up with recommendations before, during and after process migrations
- Participate in projects to implement any new or changing regulatory requirements and enhancing the regulatory reporting system infrastructure
- Participate in future process migrations from new countries
- Identify and evaluate design and operating control deficiencies; and ensure that control issues are escalated to appropriate level.
- Establishing and enforcing standard control framework across CSC countries.
- Coordinating controls and standardization related projects that span multiple countries and teams, or which require special expertise.
- Being a trusted advisor for CFOs, Country Controllers, cluster Reporting Leads in the region, providing guidance and best practices
- Responsible for the quality of regulatory and management reports by acting as a reviewer
- Opportunities to gain a thorough understanding of financial statements, regulatory and management reports
- Gaining knowledge about banking and capital market products provided by Citi to clients on a global scale
- Developing technical skills through process improvement and automation
- Obtaining and enhancing knowledge regarding specific regulatory rules in an EMEA country (or multiple EMEA countries)
- Working in modern open office environment with innovative and ambitious people from different functions, countries, and diverse backgrounds.
- Working collaboratively in a dynamic team environment
- Career opportunity: vertical and horizontal expansion of your experience
- Access to Citi's huge training database and subscription to external online training providers
Knowledge and Experience:
- 3-5 years of work experience in financial, regulatory or risk reporting / auditing roles
- Prior experience in medium or large scale projects is an advantage
- Advanced knowledge of MS Excel and other Office products
- At least Intermediate level of English language knowledge, Advanced level is an advantage
- Good understanding of Accounting & Finance principles and Financial Markets and Products
- Good understanding of Regulatory Reporting requirements
- Knowledge of an additional EMEA language can be an advantage
- Excellent analytical skills
- Strong planning skills, effective time management and ability to meet deadlines
- Professional and assertive communication
- Strong control mind-set
- Proactivity and flexiblity
- Ability to interpret & implement regulatory guidelines & professional standards
- University / College degree in economics / finance / accounting
- Professional certifications in finance, accounting or risk are an advantage, e.g. ACCA, CFA, CIMA, FRM etc.
- Highly motivated with problem solving abilities
- Enthusiastic team player
- Thinking "outside of the box" attitude
- Aiming for accuracy and good quality in own work and when reviewing others
- Willingness and ability to take responsibility for owned processes and reviews
- Ability to exercise judgement in various situations and making decisions