Transaction Expense Reporting Analyst (AVP)

Transaction Expense Reporting Analyst (AVP)Opening date: 03/09/2020Closing Date: 30/09/2020Location: LondonSalary: CompetitiveThe BC&E Expense reporting analyst will be a member of the Expense Analytics team responsible for accounting, reporting and providing transparency around expenses incurred by the firm in relation to its trading activities. Financial Transparency:Support senior management, finance and business CAOâs through weekly estimates, monthly forecasts, vendor analysis, and explanation of expense drivers (i.e., volumes, accounting adjustments, savings, etc.)Trade Level Analytics:Support businesses and trading desks through development of trade level fee calculators to provide detailed volume and usage metrics at region, sub-product, strategy and trader levels.A key part of this role will also be interacting closely with counterparts in EMEA, APAC and the US to understand the products managed across the regions, the teams and processes involved, trade data structures and expense drivers.The Business Expense Transparency group is a global function with the mandate of optimizing transaction expenses and implementing best in class expense management practices.The team has a strong presence in NAM, EMEA and APAC and looks at all areas of the expense base including supply management, demand management, expense reporting, analysis and control, expense systems developments and data transparency.The team consists of three main disciplines:Category Management & Expense Efficiency - Focused on identifying savings initiatives and leading/driving these forward. Trade Expense Analytics - Responsible for producing Trading expense analytics to facilitate transparency & ultimately reduce expenses. Financial Reporting & Operations â Accounting, control and payments processing of Brokerage, Clearing & Exchange FeesChallenges:The main challenge of the role is to effectively gather the information necessary to develop P/L, cash impact reports, and ensure expenses are accurately aligned to the firmâs financial accounts. The candidate must be flexible enough to work under direct supervision; in addition to demonstrating individual initiative. The candidate will work across multiple groups across regions and communicate with individuals within the front office, operations, and technology, finance and 3rd party providersKey Responsibilities:Accounting:Participate and assist in daily, weekly and monthly processes to ensure BCE expenses are in line with the firmâs trading activity (General Ledger investigations, monthly accruals, prepayments and reconciliations).Develop and assist with maintaining control processes to ensure expenses are accurately validated and reflect business economics (reconciliations, expense allocations).Liaise with Finance and Operations teams across regions to ensure expenses are accurate by business and region for month end closeTake ownership of query resolution on transaction expenses per the ledgers from various stakeholders including FP&A and the business (new business model (e.g. changes due to Brexit), allocation issues, incorrect billing)Expense Reviews & Projects:Assist in preparing monthly reports analysing BC&E expenses by Division, Region and Expense lineParticipate and assist in expense review meetings with Trading Desks, Business CAOs and Finance colleagues to discuss actual expense results against plan and historic trendsAssist in revamping existing allocation and accrual processes in partnership with Operations, Business CAOâs and Trade Level Analytics teamAssist in production of expense variance analysis models in order to highlight accounting irregularities and P&L variabilityParticipate in projects to develop enhanced accrual accuracy as well as invoice reconciliation processes via integration of trade analytics system (VarCiti) into month end activities and reportingHelp to develope analysis and reporting which will help Expense reductions, Business CAOs, and Finance managers to better understand expense trends, variances, impact of savings initiatives, as well as forecasting and budgeting for BCE expenses across products and regionsGovernance:Support the overall BC&E control process, working closely with the CoE, reviewing monthly accruals, payments made to the financial accounts and expense line variances.Support operating and administrative functions at the COE site in Chennai (including but not limited to BCE invoice approvals, new BCE vendor approvals)Act as Accounting SME for query resolutions from COE staff in Chennai BusinessParticipate in the development and integration of BC&E systemsDevelopment Value:In depth exposure to capital markets and investment banking activities including products traded, life cycles of trades and key market participants for various productsOpportunity to develop multi-product knowledge across all asset classes and businessesExposure to all areas of Front Office, including traders, trading managers, Business Unit Managers and CAOsKnowledge/Experience: Experience of preparing management reports for a diverse group of users including business managers and senior managementUnderstanding of Investment and consumer banking products traded including Fixed Income, Currencies, Commodities and Equities preferredFinancial Accounting background with experience in creating and processing timely accrualsStrong experience with general ledger reconciliations whilst developing and implementing robust accounting control processesProven experience of carrying out reconciliations, investigation & resolution of issues or variancesProven track record of identifying & implementing process improvementsSkills:Strong financial analytic skills - accounting concepts and prior working knowledge of reporting and general ledger systems.Strong communication skills necessary to communicate processes in an effective manner.Strong PC skills essential, including advanced MS Excel and PowerpointStrong data reconciliation skills - must be comfortable working with large datasetsAbility to understand complex data and condense into key themes / summarise for intended audienceAbility to self-initiate, persevere and multitask across concurrent projects.Qualifications:Part Qualified Accountant (ACA, ACCA, CIMA) preferredBachelorâs degree or equivalent, preferably in Finance or AccountingExceptional candidates who do not meet these criteria may be considered for the role provided they have the necessary skills and experience.Competencies:Strong communication and inter-personal skillsStrong organisational and management skillsAttention to detail, excellent analytical and management reporting skills are a prerequisiteConfident under pressure with a strong desire to succeedAbility to multi-task, meet tight deadlinesStrong PC Skills including: Excel, Access, PowerPoint, Business Objects etc-------------------------------------------------Grade :All Job Level - All Job FunctionsAll Job Level - All Job Functions - GB------------------------------------------------------Time Type :Full time------------------------------------------------------Citi is an equal opportunity and affirmative action employer.Minority/Female/Veteran/Individuals with Disabilities/Sexual Orientation/Gender Identity.Citigroup Inc. and its subsidiaries ('Citiâ) invite all qualified interested applicants to apply for career opportunities. 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