SVP - Controls Lead
SVP – Control Lead
Job Description Job Purpose:
The EMEA Control Initiatives & Governance (CIG) Team is part of the Controllers organisation with reporting lines to the EMEA Regional Franchise Controller and the Global Control Initiatives Head.
The EMEA CIG team support all streams of Finance: Legal Entity Management; Regulatory Reporting (across 54 countries in EMEA), Citi Solution Centre (CSC), Accounting Policy, Planning & Analysis, Treasury, Tax and Financial Planning and Analysis, and operates through three key strategic locations London, Budapest and Dubai.
The resources within the team are subject matter specialists who are dedicated towards design, monitoring and governance of the control framework across EMEA Finance. The teams’ responsibility encompasses providing oversight and support, ensuring consistent governance and control frameworks are applied across the EMEA region.
The mission of the team is to:
- Serve as trusted control advisors who promote and assist in embedding strong internal controls over financial reporting, regulatory reporting across EMEA, and is involved in corporate level control programs such as SOX, COSO & MCA.
- Drive regional governance and ensure adherence to corporate wide Citi policies and standards for Finance.
- Deliver timely, accurate and insightful control analytics to ensure proper attention to remediation efforts and to strengthen the control environment.
EMEA SOX Coordination
- Manage the allocation of task across team members based on the SOX scope and other relevant projects within Controls Initiative Team.
- Manage stakeholder relationship between SOX Global Team, Finance and SOX stakeholders.
- Coordinate completion of documentation by end-to-end process owners for all in-scope accounts. Includes automated controls and SOC1 reviews (3rd party suppliers).
- Liaise with the process owners to ensure document requirements are completed as per the timeline and review design of control before submitting to SOX Program Team (SPT). Deep dives will be required to assess design of control and ensure appropriate MCA coverage.
- Educate end-to-end process owners on SOX documentation requirements and gather all evidence and documentation for the reviews.
- Participate in monthly SOX Coordinator calls, provide status updates on documentation completion to the SPT, identify and discuss the control deficiencies or issues related to SOX accounts.
- Liaise with process owners to obtain MCA documentation to support the Quality Control review.
- Where controls breaks are identified, responsible for meeting with the Assessment Unit (AU) Owner or the Business Owners to discuss the break and remediation plan.
- Lead, analyse and coordinate deficiency analysis including those issues which are SOX relevant (received from Global SOX Program Team).
- Attend global and regional update calls, control forums etc. to obtain understanding on new topics impacting SOX and communicate to relevant stakeholder.
- Participate and provide support on the completion of the quarterly control review assessment on the SOX related controls.
Control Design and Monitoring
- Manage to resolution control issues with substantial potential impact to the region and help identify operating control deficiencies throughout the region.
- Assist in the control design and monitoring for Regional Finance
- Analyze findings and proposes creative and pragmatic solutions for risk and control problems
- Manage to resolution any control issues with substantial potential impact to the region and help identify operating control deficiencies
- Provide adequate challenge to the core Regulatory Reporting functions to ensure control design is followed while performing production activities
- Apply an in-depth understanding of the inter-relationships of business and support units throughout the corporation and how they impact the overall control environment and internal controls over financial reporting.
- Proactive and 'no surprises' approach in communicating and escalating issues; and strength in sustaining independent views.
- Design and roll out a sustainable MIS to track, monitor and follow up progress of actions plans. Suggest raising of Corrective Action Plans CAPs in case of issues
Knowledge and Experience:
- Prior experience in a controls/audit (SOX) / reporting role
- Advanced MS Excel and Access knowledge
- Advanced / Fluent English knowledge
- Good understanding of culture, ethical conduct, governance, risk management and control frameworks in leading international organizations
Skills and Competencies
- Strong interpersonal skills are needed to be able to deal with a range of senior/ junior staff across a number of disciplines and across a wide range of countries.
- Stakeholder management
- Ability to communicate with senior managers
- Excellent issue management and negotiation skills
- Ability to analyse & interpret financial information
- Demonstrates strong judgment, political astuteness, and sensitivity to cultural diversity
- Displays clear accountability and ownership of issues
- Highly motivated with advanced analytical & problem-solving abilities
- Ability to interpret & implement regulatory guidelines & professional standards
- Demonstrated ability to prioritise and complete tasks within tight deadlines
- Strong professional communication & interpersonal skills
- Strong people leadership skills and ability to influence and initiate change
- Minimum 10 years of relevant experience
- CPA or ACCA equivalent
- University / College degree
- Extensive work experience in financial reporting/auditing roles
- Exposure to regulatory reporting and compliance environment
- Financial products knowledge is an advantage
Candidates applying for this role must be aware that it is a Senior Management Function pursuant to the FCA and PRA Senior Managers Regime. The Senior Managers Regime is one element of the FCA and PRA Individual Accountability Regime which came into effect on 7 March 2016. Under the Senior Managers Regime, certain Citi entities must ensure that employees working in certain roles, designated as a Senior Management Function, where the individual is referred to as a Senior Manager, are assessed as fit and proper to carry out their role. As a Senior Manager your appointment must be pre-approved by the FCA and/or PRA before you perform any regulated activity. Under the guidance provided by the FCA and PRA, firms should have regard to the following when assessing fitness and propriety:
- Honesty, integrity and reputation
- Financial soundness
- Competence and capability
In order to comply with the requirements of the Senior Manager Function, certain Citi entities must take reasonable care to ensure that an employee does not perform a Senior Manager Function role without first being certified as Fit and Proper. For this reason, you will be assessed for this role against the Fit and Proper requirements, as described above. This assessment will be carried out through extensive interviews, self-disclosures, permitted criminal record checks, reference checks, credit checks and other background checks. If hired for this role, you will also be required to complete an annual declaration regarding your Fitness and Propriety.
By submitting your application, you acknowledge that you have read the information above and that you are applying for a Senior Management Function. You also agree to Citi carrying out any additional screening required, including permitted criminal record checks, reference checks, credit checks and any other relevant background checks.
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