Vice President / Assistant Vice President - Business Finance Advisory & Financial Reporting Standard
- Execute the impact assessment of new accounting standards to the financial, business strategy and operations of SBU and overall CIMB Group and analyse industry practices and recommend sound options or solutions that overcome adverse impact or optimise new opportunities.
- Work collaboratively with other teams within the unit on the development of accounting standards and requirements to ensure their respective operating model is updated accordingly and stays relevant.
- Perform the implementation and monitoring of new accounting policy across CIMB Group and ensure accounting treatments such as fee/ interest income recognition, loan impairment, goodwill assessment and corporate development strategies comply with applicable accounting standards both locally and internationally, regulatory requirements of relevant jurisdictions in the operating region and external auditors.
- Support communications with stakeholders as the regional centre of excellence of Group Finance overseeing asset quality and guide management, strategic business units (SBU) and countries stakeholders on the methodology for non-retail expected credit losses (ECL), capital allowance (CA) and initial allowance (IA) provisioning.
- Provide continuous engagement with SBU to maintain reliable and trusting partnership that provides value-add advisory on new accounting impact and treatments, compliance and operational viability of their current and new products and operating market.
- Collaborate with Group Risk and SBU to ensure adequacy of provisioning assessment framework encompassing governance, process and validation process for the countries across CIMB Group as well as regional portfolios.
- Be a key part of the annual audit and quarterly reviews with external auditors, finance and strategy team and top management.
- Conduct review and update of accounting standards policies relating to provisioning methodology, classification of impaired accounts and asset quality.
- Enforce and maintain internal controls, and effectively manage the execution of risks mitigation plans, when needed, to ensure reporting quality and integrity.
- Identify opportunities for efficiencies through simplification, standardization and automation of structure and processes and manage the execution of the initiatives.
- Actively contribute to the continuous improvement initiatives within own team and Group Finance.
- Possess Bachelor’s Degree in Accounting/Finance from a reputable University.
- Candidate with professional certification i.e. ACCA/ MICPA/ CPA/ ICAEW/ MIA is preferable.
- Minimum 10 years of experience with emphasis in financial accounting standards policies developemnt and reporting, in established financial institution or public accounting firm.
- Strong knowledge of accounting standards and reporting requirements and regulatory framework in financial services industry.
- Strong financial services business principles, processes and technologies particularly on financial consolidation, planning, budgeting and reporting processes including BI reporting.
**Only shortlisted candidates will be notified