Description of the Business Line or Department
At SG Group level, DFIN//CTL (ConTroL) is the 2nd Level Control function within Finance. This team is responsible for Leading level 2 permanent control mission on the completeness, effectiveness (quality of design and execution of controls) and relevance of the 1st Level Control framework within the Finance function (DFIN UK).
DFIN UK covers the three UK entities - SG London Branch (Investment banking), SG International Limited (Brokerage) and SG Kleinwort Hambros (Private banking and wealth management) offering in turn an excellent exposure to a range of business lines.
DFIN/CTL team is comprised of individuals with strong audit and controls background and is also well suited for a candidate with a good understanding of regulatory reporting and financial production wishing to transition to a controls-based role. Summary of the key purposes of the role
DFIN/CTL is a transversal function in finance and works across all legal entities in the UK (SGIL, KH, SGLB). DFIN/CTL key responsibilities for are:
Summary of responsibilities
- Performance of CTL control missions to provide assurance to the CFOs on the effectiveness and relevance of 1st Level Control framework. This includes the completion of missions covering the production of regulatory reports sent to regulators or published internal control indicators.
- Focus on regulatory reporting quality improvement areas and the correct application of group norms and regulatory requirements.
- Prepare and present in governance meetings (risk committee, group reporting packs) and help in active and clear communication to the CTL Group and Local management for timely deliverables
- Liaise with external audit, internal audit, and other Level 2 control functions.
- Follow-up of action plans
- Annual roadmap exercise
- Appetite and aptitude for developing digitalization solutions (Alteryx, Business Intelligence) as this is a key mandate for this team over the next year.
- Contribute to the international and subsidiary deployment of the SG Group's Permanent Control
Key responsibilities include:
- Perform 2nd level reviews: Independently perform reviews, de-brief with the managers, document the report. Reviews include a range of topics across a range of financial topics:
- Accounting: topics (technical topics such as IFRS 9.1 & 9.2, IFRS 16, process reviews on topics such as accounts payable, intercompany, cash breaks, intangibles etc) and regular spot checks on account certification (substantiation of balance sheet and P&L accounts with supporting documentation).
- Regulatory reporting: t he local UK entities report their regulatory returns to the Financial Conduct Authority (FCA), Prudential Regulatory Authority (PRA), Bank of England and the European Central Bank (ECB), where applicable. This includes Solvency, Liquidity and other regulatory reports (e.g.related to Balance-Sheet or P&L data).
- Management accounting (budgets, forecasts etc),
- Structural risk related (e.g. ALM & Treasury)
- Various types of reviews are performed. Full architecture (or framework) review involves a review of activity, process, risk, and controls. Extensive reviews are less detailed than architecture review. Closing reviews are performed during accounting close on specific accounting topics. The report on the design and effectiveness of control framework is presented in standardised group formats.
- Annual roadmap preparation: Preparation of the annual roadmap through gathering and analysing data for the previous year. This includes errors and incidents, audit points, management letter points, risk and control self-assessment, balance-sheet and P&L data, regulator feedback etc.
- Identifying closing review topics and performing closing reviews: On a quarterly basis, gather and analyse data related to closing cycle. This includes pre-close (zone-de-risk) exercise, review of KPIs, study of internal control certification results (SOX-lite approach) etc. Assess the risks and perform timely closing reviews where required. These are provided to the external auditors globally.
- Remedial action plan follow-up on:
- Action plans raised during reviews and closing cycles
- Residual risks still on-going.
- Anomalies identification and improvement: coordination with Group Central/Regional/Local Team in charge of level 2 mission to have a global view on our processes
- Committees and governance: Preparation and participation in group quarterly synthesis for the CTL activities/reviews, and preparation of risk-committee and internal control committee packs. The CTL Controller will also participate, when required, to the quarterly meetings with internal and external auditors, compliance and risk professionals.
- Take ownership of data quality of own perimeter of the L2C tools and act as a liaison with group team for data quality queries for the L2C tools (E-control and My Actions) where questions are raised regarding missing fields or inconsistent data. Training on these tools will be provided.
- Ad-hoc projects related to digitalisation - Digitalization developments and improvement projects. Digitalisation is a key focus area for the team this year (e.g. solutions using Alteryx and Business Intelligence).
Experience and skills in audit, accounting, and regulatory production.
- Degree in Finance, accounting or similar. ACA/ACCA or equivalent qualifications will be very desirable.
- 5 years of relevant experience in a financial services institution or professional services firm, preferably in a control function (audit, finance controls, etc) or regulatory production.
- Demonstrated knowledge of regulatory reporting to the Financial Conduct Authority (FCA), Prudential Regulatory Authority (PRA), Bank of England and the European Central Bank (ECB).
- Knowledge of modelling and/or data analytics tools.
- Strong verbal and written communication skills.
- Ability to liaise with stakeholders at all management levels and work with various teams.
- Ability to identify and take ownership of complex issues and conflict resolution.