Finance Analyst, Financial & Regulatory Reporting

Job : Finance
Primary Location : Africa & Middle East-Saudi Arabia
Schedule : Full-time
Employee Status : Permanent
Posting Date : ‎23/Sep/‎2022, ‎2:56:‎49 AM
Unposting Date : Ongoing
JOB SUMMARY
The job purpose is primarily be responsible for regulatory Reporting for
Finance, facilitate / co-ordinate expense processing in country, provide
effective financial support to other finance customers like Statutory
Auditors, Group Auditors Local Regulators, Other Support Functions, etc.,
maintain an effective control environment ensuring that all regulatory and
financial control requirements are met and ensure compliance and
implementation of Group standards and policies as also local regulatory
policies impacting Finance.
RESPONSIBILITIES
Strategy

Refocusing for a stronger Finance: Streamline how we operate and ease workload
while also reducing cost. We continue to refocus the function, seeking
opportunities to eliminate complexity and duplication in our services and
ensure we align our resources more closely with the businesses.
Business
Awareness and understanding of regulatory, financial reports in which the
branch operates as well as Group expenditure and travel policy and procedures
The job purpose is primarily as below:
* Responsible for Regulatory Reporting for Finance
* Facilitate / co-ordinate expense processing in country
* Provide effective financial support to other finance customers like Statutory Auditors, Group Auditors Local Regulators, Other Support Functions, etc.
* Maintain an effective control environment ensuring that all regulatory and financial control requirements are met.
* Ensure compliance and implementation of Group standards and policies as also local regulatory policies impacting Finance.
* It involves effective financial support to key finance customers - Group and Regional Finance, GBS and Tax
* Be a value-added, professional and cost-effective finance service provider to all interested parties, within and outside the Bank.
Processes
Financial and Regulatory Reporting & Accounts Payable activities
* Prepare regulatory returns in accordance with the SAMA guidelines.
* Confirm the accuracy, perform a variance analysis with the previous submission and ensure that all returns are submitted by the due dates.
* Liaise with SAMA on Regulatory matters relating to Finance.
* Maintain adequate documentation in respect of regulatory returns.
* Ensure adherence to the Cash Reserve requirement guidelines. To advise Treasury Markets of any increase / decrease monthly and the advice entries for the same on the first day of the month.
* Manage the delivery of ad hoc information requests and any other aspects of information delivery.
* Ensure accurate and timely Financial Reporting to Group Finance, Statutory Reporting to Local Regulators, Annual Financials to Auditors / Local Regulators.
* Ensure compliance and implementation of Group accounting policies and standards, including IFRS.
* Coordinate with business finance to get quality analysis of results and financials: income, cost, debt charge, yields and balance sheet.
* Drive the improvement of processes regarding the above with a view to enhancing cost effectiveness, efficiency, accuracy and integrity of the numbers reported and analyzed.
* Facilitate / co-ordinate expense processing done at APU FSSC, Chennai and expense processed in country. In line with the Group Business Expenditure Standard and Procedure as well as Group Delegated Authorities.
* Ensure adherence to Group Delegated Authorities.
* Ensure that the invoices are VAT compliant to optimize the efficiency and facilitate accuracy in expense processing at GBS and in country.
* Maintain a proper filing system for expenses.
* Ensure controls for manual payments process
Fixed Assets Management
* Ensure adherence to the Group Accounting Policy
* Check the entries for depreciation are correctly coded for the account no. and the cost center no.
* Maintain an up-to-date Fixed Assets register and ensure reconciliation of the register to the GL monthly
* Coordinated the physical verification of fixed assets conducted by performed by the respective Cost Centers (into which the fixed assets are booked) / Information Technology
Finance System Support
* Identify gaps/mismatch in PSF/ /FINIS impacting group/regulatory reporting
People & Talent
* Lead through example and build the appropriate culture and values. Set appropriate tone and expectations from the team and work in collaboration with risk and control partners.
* Ensure the provision of ongoing training and development of people to mitigate any risks.
Risk Management
* Identifying, assessing, monitoring, controlling and mitigating risks to the branch, as well as an awareness and understanding of the main risks facing the branch and the ability to interpret the branch financial information, identify key issues based on this information and put in place appropriate controls and measures. Act as the process risk control owner under the Group's Risk Management Framework (including relevant Operational Risk Framework ownership
ORF Finance operational risk, controls and governance ( First line process
owner for Financial, Regulatory and Group Expenditure And Travel Policy and
Procedures process)
* Ensure completeness, quality and evidence of Finance reconciliations and escalation procedures.
* Maintain the robustness and integrity of the General Ledger with complete balance sheet substantiation, controls over sundry, suspense, accrual and project accounts.
* Support provided to FCU on the effective control tools like KRIs, KCS and KCSA.
* Comply with the Money Laundering Prevention Procedures and the Code of Conduct of the Bank. Be alert at all times to unusual or possibly suspicious customer activity and must report promptly any such activity to the Country MLPO.
Governance
* Responsibilities relating to the direction, planning, structure, frameworks for processes and policies and oversight.
* Awareness and understanding of the regulatory framework, in which the Branch operates, and the regulatory requirements and expectations relevant to the role.
* Awareness and understanding of the Group Expenditure And Travel Policy and Procedure and ensure compliance.
Regulatory & Business Conduct
* Display exemplary conduct and live by the Group's Values and Code of Conduct.
* Take personal responsibility for embedding the highest standards of ethics, including regulatory and business conduct, across Standard Chartered Bank. This includes understanding and ensuring compliance with, in letter and spirit, all applicable laws, regulations, guidelines and the Group Code of Conduct.
* Effectively and collaboratively identify, escalate, mitigate and resolve risk, conduct and compliance matters.
* SAMA prescribed responsibilities.
Key stakeholders

Internal

• Chief Financial Officer, Saudi


• Business Finance Managers


• Group Finance


• Group / regional Tax


• Group Auditors


• Regional Tax Managers.

External

• External Auditors


• Regulators (SAMA and GAZT)
  Other Responsibilities
  Courageous: We stand up for what the Bank believes and do the right thing
  Responsive: We can be relied on to respond quickly and deliver lasting
  value
  International: We value others and actively collaborate
  Creative: We adapt and innovate to meet evolving needs
  Trustworthy: We act with integrity and earn the trust of others
  QUALIFICATIONS


• Certifications / Professional Education/Qualifications in accounting are required.


• ‎5 years of experience in similar or relevant role.
  About Standard Chartered
  We're an international bank, nimble enough to act, big enough for impact. For
  more than ‎160 years, we've worked to make a positive difference for our
  clients, communities, and each other. We question the status quo, love a
  challenge and enjoy finding new opportunities to grow and do better than
  before. If you're looking for a career with purpose and you want to work for a
  bank making a difference, we want to hear from you. You can count on us to
  celebrate your unique talents. And we can't wait to see the talents you can
  bring us.

Our purpose, to drive commerce and prosperity through our unique diversity,
together with our brand promise, to be here for good are achieved by how we
each live our valued behaviours. When you work with us, you'll see how we
value difference and advocate inclusion. Together we:
* Do the right thing and are assertive, challenge one another, and live with integrity, while putting the client at the heart of what we do
* Never settle , continuously striving to improve and innovate, keeping things simple and learning from doing well, and not so well
* Be better together, we can be ourselves, be inclusive, see more good in others, and work collectively to build for the long term
* In line with our Fair Pay Charter, we offer a competitive salary and benefits to support your mental, physical, financial and social wellbeing.
* Core bank funding for retirement savings, medical and life insurance, with flexible and voluntary benefits available in some locations
* Time-off including annual, parental/maternity (‎20 weeks), sabbatical (‎12 weeks maximum) and volunteering leave (‎3 days), along with with minimum global standards for annual and public holiday, which is combined to ‎30 days minimum
* Flexible working options based around home and office locations, with flexible working patterns
* Proactive wellbeing support through Unmind, a market-leading digital wellbeing platform, development courses for resilience and other human skills, global Employee Assistance Programme, sick leave, mental health first-aiders and all sorts of self-help toolkits
* A continuous learning culture to support your growth, with opportunities to reskill and upskill and access to physical, virtual and digital learning
* Being part of an inclusive and values driven organisation, one that embraces and celebrates our unique diversity, across our teams, business functions and geographies - everyone feels respected and can realise their full potential.
* Recruitment assessments - some of our roles use assessments to help us understand how suitable you are for the role you've applied to. If you are invited to take an assessment, this is great news. It means your application has progressed to an important stage of our recruitment process.
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