Finance Manager - SCVentures
- Recruiter
- Standard Chartered Bank
- Location
- Singapore, Singapore
- Salary
- Competitive salary
- Posted
- 16 May 2021
- Closes
- 19 May 2021
- Ref
- 2100009713
- Approved employers
- Approved employer
- Job role
- Finance manager
- Experience level
- Manager
SC Ventures ("SCV") was established in March of 2018 with the purpose of "Rewiring the DNA in Banking" by bringing three distinct areas together:
The eXellerator labs, enabling innovation at large in the Bank by supporting:
• Entrepreneurially-minded colleagues as "Intrapreneurs", developing ideas to products, services or new business models.
• Collaboration with fintech companies, supported by the SC Ventures FintechBridge[1], Proof of Concept ("POC") framework and POC funding.
• Client engagement on co-creation activities.
The Innovation Investment Fund ("Fund"), USD100m allocated to acquire minority stakes in fintech companies ("fintechs") whose technology has been successfully validated in the Group and is progressing to production (i.e., continuing use), subject to commercial due diligence.
Venture building, exploring new business models ("ventures"), with the objective of providing 'optionality' for the Group in the way it engages existing and new customers and markets. These adopt a start-up model, operating independently of the Group's existing businesses, funded in a venture capital fashion, and under a different governance and risk management framework.
There are c.65 team members (excluding individual ventures), including dedicated colleagues from the Group's support functions, based in Singapore, Hong Kong, Shanghai, Nairobi, London and San Francisco.
Role Overview
Fund Operations and Accounting support function works to support the SCV Finance function and Fund Administrators under supervision of the CFO of SC Ventures.
Key focus on:
• Oversight of the Fund and Managed Investments for SC Ventures
• Support SC Ventures Finance with a wide variety of BAU, ad-hoc and Venture specific activities
To help manage the Fund which was incorporated in 2019 and managed investments, together with planned growth, SC Ventures requires an individual who has attention to detail and a can-do attitude. This includes taking responsibility for activities in all matters relating to the end to end administration of the processes relating to the fund and managed investments.
Responsibilities
1. Fund(s) and Managed Investment Reporting support
Serve as primary point of contact to undertake and/ or support all process related to:
• Expense relating administration for the fund(s) and managed investments
• Coordinate management accounts for fund and GP on a monthly basis
• Capital receipts and payments and liaising with Group Treasury and GCS to enable this
• Payment authorisations relating to the fund and GP bank accounts
Coordinate any corporate secretarial aspects of the fund(s) with GCS, fund administrators and group legal
Assisting to resolve any risk and compliance requirements that related to fund(s) reporting requirements
Coordinate with the Fund administrators, Investment fund team, valuation control group and finance function to support:
• Periodic valuations (including external valuations and internal valuation control coordination)
• Monthly fund and investments reporting
• Quarterly report preparation
• Annual Financial statement preparation for the GP and LP as required
Ensuring proper housekeeping duties with regards to fund information, filing, archiving, etc
Resolve review and query points noted by finance and fund admin teams and ensure they are kept informed of individual progress
Establish and maintain good working relationships with internal colleagues and external stakeholders
2. SC Ventures Finance support
To assist the SCV Finance team with a variety of central and Venture specific matters notably:
• Assisting in development and preparation of monthly financials pack for SCV
• Assisting in reviews of actuals and expected forecasts
• Working with GFS support team and external parties to maintain financials
• Assisting with the preparation and review of financial business cases for ventures
• Setting up Ventures in Clarity and managing monthly Clarity cost uploads and data maintenance for Venture reporting in iLevel
• Liaising with Venture stakeholders on ad hoc queries, including liaising with tax (VAT and CTX)
• Assisting with setting up and documenting controls - SCM, GL for each Venture as well as setting up entities in SCB reporting systems (e.g. GOLF)
Some elements of the role will require assisting with integration of third-party service providers with SCB systems
Addressing ad-hoc issues as they arise. There will be an element of market and competitor analysis and well as detailed accounting policy research / technical financial research that will be occasionally required.
Key Characteristics and personal qualities
• Risk and control mindset with regards to undertaking activities.
• Audit background / fund administration background would be advantageous
• Be a trustworthy. Have an ability to work under pressure, to tight deadlines in a fast evolving market.
• Focused not only on financials but also on operational, strategic and commercial issues.
• Thrive on the uncertainty and be patient
• Innovative - explore innovative ways to manage the associated risks and complexities within SC Ventures
Technical and Professional Experience
• With 6 years of experience in similar Finance functions
• Qualified Chartered Accountant/CPA/MBA
• Proficient in Excel modelling and PowerPoint presentations
• Experience in Private Equity / Fund Management / Start-Up highly desired
Apply now to join the Bank for those with big career ambitions.
To view information on our benefits including our flexible working please visit our career pages. We welcome conversations on flexible working.
The eXellerator labs, enabling innovation at large in the Bank by supporting:
• Entrepreneurially-minded colleagues as "Intrapreneurs", developing ideas to products, services or new business models.
• Collaboration with fintech companies, supported by the SC Ventures FintechBridge[1], Proof of Concept ("POC") framework and POC funding.
• Client engagement on co-creation activities.
The Innovation Investment Fund ("Fund"), USD100m allocated to acquire minority stakes in fintech companies ("fintechs") whose technology has been successfully validated in the Group and is progressing to production (i.e., continuing use), subject to commercial due diligence.
Venture building, exploring new business models ("ventures"), with the objective of providing 'optionality' for the Group in the way it engages existing and new customers and markets. These adopt a start-up model, operating independently of the Group's existing businesses, funded in a venture capital fashion, and under a different governance and risk management framework.
There are c.65 team members (excluding individual ventures), including dedicated colleagues from the Group's support functions, based in Singapore, Hong Kong, Shanghai, Nairobi, London and San Francisco.
Role Overview
Fund Operations and Accounting support function works to support the SCV Finance function and Fund Administrators under supervision of the CFO of SC Ventures.
Key focus on:
• Oversight of the Fund and Managed Investments for SC Ventures
• Support SC Ventures Finance with a wide variety of BAU, ad-hoc and Venture specific activities
To help manage the Fund which was incorporated in 2019 and managed investments, together with planned growth, SC Ventures requires an individual who has attention to detail and a can-do attitude. This includes taking responsibility for activities in all matters relating to the end to end administration of the processes relating to the fund and managed investments.
Responsibilities
1. Fund(s) and Managed Investment Reporting support
Serve as primary point of contact to undertake and/ or support all process related to:
• Expense relating administration for the fund(s) and managed investments
• Coordinate management accounts for fund and GP on a monthly basis
• Capital receipts and payments and liaising with Group Treasury and GCS to enable this
• Payment authorisations relating to the fund and GP bank accounts
Coordinate any corporate secretarial aspects of the fund(s) with GCS, fund administrators and group legal
Assisting to resolve any risk and compliance requirements that related to fund(s) reporting requirements
Coordinate with the Fund administrators, Investment fund team, valuation control group and finance function to support:
• Periodic valuations (including external valuations and internal valuation control coordination)
• Monthly fund and investments reporting
• Quarterly report preparation
• Annual Financial statement preparation for the GP and LP as required
Ensuring proper housekeeping duties with regards to fund information, filing, archiving, etc
Resolve review and query points noted by finance and fund admin teams and ensure they are kept informed of individual progress
Establish and maintain good working relationships with internal colleagues and external stakeholders
2. SC Ventures Finance support
To assist the SCV Finance team with a variety of central and Venture specific matters notably:
• Assisting in development and preparation of monthly financials pack for SCV
• Assisting in reviews of actuals and expected forecasts
• Working with GFS support team and external parties to maintain financials
• Assisting with the preparation and review of financial business cases for ventures
• Setting up Ventures in Clarity and managing monthly Clarity cost uploads and data maintenance for Venture reporting in iLevel
• Liaising with Venture stakeholders on ad hoc queries, including liaising with tax (VAT and CTX)
• Assisting with setting up and documenting controls - SCM, GL for each Venture as well as setting up entities in SCB reporting systems (e.g. GOLF)
Some elements of the role will require assisting with integration of third-party service providers with SCB systems
Addressing ad-hoc issues as they arise. There will be an element of market and competitor analysis and well as detailed accounting policy research / technical financial research that will be occasionally required.
Key Characteristics and personal qualities
• Risk and control mindset with regards to undertaking activities.
• Audit background / fund administration background would be advantageous
• Be a trustworthy. Have an ability to work under pressure, to tight deadlines in a fast evolving market.
• Focused not only on financials but also on operational, strategic and commercial issues.
• Thrive on the uncertainty and be patient
• Innovative - explore innovative ways to manage the associated risks and complexities within SC Ventures
Technical and Professional Experience
• With 6 years of experience in similar Finance functions
• Qualified Chartered Accountant/CPA/MBA
• Proficient in Excel modelling and PowerPoint presentations
• Experience in Private Equity / Fund Management / Start-Up highly desired
Apply now to join the Bank for those with big career ambitions.
To view information on our benefits including our flexible working please visit our career pages. We welcome conversations on flexible working.