Finance Control LEC Lead

Job Summary

LEC Controller role will be responsible to lead Legal entity financial controllership team for group of entities and will also support creating segmental controllership function. LE controller will be key member of country and Global Finance Services – India (GFS) leadership team and required in-depth understanding of how various functions contribute to achieving the organization goals and the commercial objectives of the business. The role will be accountable for integrity and accuracy of financial reporting in accordance with IFRS and various other local statutory requirements.  The role will manage Ledger close process and Financial Reporting for the entities and segment under its remit by working closely with Product Control, Operations, Country based finance teams and other functions. This role provides extensive exposure across the Business and diverse network of markets with opportunity to enhance control framework around Financial Reporting. 

The role will also have responsibility formulate and support right-shoring strategy for controller function under our Fit for Growth (FFG) program. Role will be responsible to have strong engagement model with country CFOs, Segmental CFO teams, and support local teams providing best in class financial reporting with provision of strong control governance framework. In addition to oversight across the breadth of day-to-day delivery, the broad areas covered within this role include:
•    Managing, delivering, and governing Legal entity controller related reporting and analytics requirements
•    Strategic direction and oversight of designing processes that will leverage and enhance existing LEC (legal entity controller) outcomes.
•    Creating the strategy for change in operating model design and optimising processes and controls with Product Control and other Business Finance teams
•    Support designing and execution of Finance Tech transformation journey
 

Key Responsibilities

Operating Model Strategy

•    Partner with GFS Finance Controllers, Segmental CFO & Country CFO leadership teams to formulate and execute Right-shoring strategy
•    Collaborate with Product Control, Country Finance, and Finance leadership team to embed new controller Op Model, Control framework and process design.
•    Design and implement team structure optimising core controllership processes and engagement to Country CFOs and Group Controllers teams. 
•    Partner with the Head of Fianance Controller (India) and Group Controller Office to design and execute the controllers’ mandate for the Legal entities and Business segments with End-to-End responsibility and accountability by leveraging on best practices across GCCs in India. 
•    Partner with the GFS Finance Leadership team and Country CFOs to deliver a robust strategy to invest and grow talent / people Financial Control teams to enable delivery of operating model requirements. 

 

Business and Processes (Global Process Ownership) 

Financial Controllership & Reporting,
•    Work closely with Product Control, CFOs, Operations, and command centre to ensure Ledger closes in accordance with accounting standards and practices in timely manner. 
•    Perform Analytical review of IFRS Financials and disclosures to explain business drivers for Balance Sheet movement and ensure there are no material issues / errors.
•    Ownership and governance over IFRS 9 related accounting, analytical reviews, and disclosures. Work closely with Credit risk, Business finance and modelling teams and establish strong controls. 
•    Develop strong understanding of firm’s accounting and governance policies and ensure compliance of same 
•    Help drive increased visibility on late entries with clear focus on how they need to be reduced over time. 
•    Establish clear guidelines that will drive decisions around close acceleration.
•    Ensure Primary and Secondary financial statements are prepared in accordance with statutory and regulatory requirements in timely manner. Support Group Financial and Local Statutory reporting for LE
•    Work with Segment Finance teams and colleagues at Group and product level to provide transparency and analysis on balance sheet drivers, effectively supporting substantiation and control discussions and timely tracking of risks and issues.
•    Oversee Balance sheet substantiation process and remediate any risk and control issues.
•    Create a business view of the balance sheet that is supported by the existing substantiation process. 
•    Manage key control forums at LE & Business segment level with appropriate KRI & KPI reporting with aim to monitor open items and its implications covering risks and audit issues.
•    Collaborate with the Aspire change teams for upstream issue fixes to help resolve gaps.
•    Work closely with business operations and tech teams to help drive a more comprehensive understanding of pending issues and closure of aged items. 
•    Partner with Country CFOs and Group Controller teams for timely review and attestation governance
•    Produce quality MIS and business analytics. 

 

Deliver Controller Organisation Structure
•    Collaborate with key stakeholders to design and execute the Controller organisation covering onshore and offshore locations. 
•    Engage CFO’s and finance leadership in landing the Operating Model into GFS India and within countries. 
•    Develop an effective organisation structure which finds the right balance between process standardisation and specialist functions/advisory capability. 
•    Deliver organisational synergy through CoE’s enabling bandwidth to create SMEs to support change delivery and other value-added outcomes. 
•    Continuously invest in talent that will drive content and commercial context into decision support activities. 
Change Management
•    Work closely with the data management team to define GL standards and accounting treatments to help balance control and Financial and Business performance reporting requirements. 
•    Establish clear RACI that defines ownership of standards and control on execution. 
•    Represent the function at the governance forums in place for change initiatives and influence decisions in respect of the change backlog, prioritisation, and choice of technology tools. 
•    Lead design as SME in relevant change initiatives and ensure seamless execution of requirements. 

 

People & Talent
•    To lead, inspire and motivate the teams ensuring that everyone achieves their potential and that the team delivers its collective agenda
•    Lead through example and build the appropriate culture and values.  Set appropriate tone and expectations from their team and work in collaboration with risk and control partners.
•    Ensure the provision of ongoing training and development of people and ensure that holders of all critical functions are suitably skilled and qualified for their roles ensuring that they have effective supervision in place to mitigate any risks.
•    Employ, engage, and retain high quality people, with succession planning for critical roles.
•    Responsibility to review team structure/capacity plans.
•    Set and monitor job descriptions and objectives for direct reports and provide feedback and rewards in line with their performance against those responsibilities and objectives.

Risk Management
•    Responsible for identifying, assessing, monitoring, controlling and mitigating risks to the Group relevant to Finance Control process. 

Governance
•    Awareness and understanding of the regulatory framework in which the Group operates, and the regulatory requirements and expectations relevant to the role
•    Responsible for delivering ‘effective governance’ in Finance Control; capability to challenge fellow executives effectively

 

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.
•    Lead Finance Control team to achieve the outcomes set out in the Bank’s Conduct Principles: Fair Outcomes for Clients; Effective Financial Markets; Financial Crime Compliance; The Right Environment.  
•    Effectively and collaboratively identify, escalate, mitigate and resolve risk, conduct and compliance matters.

Key stakeholders
•    Group Finance Control Head
•    Global Head - Finance Operations
•    GPOs & GPMs
•    Product Control
•    Global product and segment CFOs
•    Regional and Country CFOs
•    Global and Regional operational heads
•    Aspire Program Leadership team. 
•    Group Information Technology and Operations (ITO) 
•    Group Finance Operational Risk.

Other Responsibilities
•    Embed Here for good and Group’s brand and values in Finance Control team; 
•    Perform other responsibilities assigned under Group, Country, Business or Functional policies and procedures
 

Skills and Experience

•    Qualified Chartered Accountant with 20+ years’ work experience in leading & managing Finance controller function. 
•    Strong financial control experience of Wealth, Retail and Corporate loans business and IFRS 9.  
•    Have a sound knowledge on the right-shoring model (preferably with a financial services background).
•    Ability to work well under pressure, strong problem-solving skills and some hands-on operational experience. 
•    Strategic mindset with strong experience in implementation of strategic changes as well as knowledge of IFRS and standard accounting practices etc.
•    Excellent business judgment, operational control management and risk assessment. 
•    Strong connect with business performance metrics and how it is enabled through good process discipline.
•    Should have strong knowledge and understanding of data management, data quality and its linkage in driving business performance management.
•    Good eye for detail and with a strong focus on controls and compliance to policies and procedures.
•    Results orientation, exceptional energy, and ambition to drive systems, technology and process changes across geographies
•    Demonstrated experience of influencing decisions at senior leadership level.  Strong stakeholder engagement skills and ability to work with cross cultural teams.
•    Possesses skill to leverage interpersonal abilities to influence others and skilfully build credibility with stakeholders. 
•    Experience of working in a global organisation in a matrix environment. 

Role Specific Technical Competencies

•    Financial accounting and reporting - IFRS
•    Business process design & Improvement
•    Control Governance Framework  
•    Process management 
•    Emerging technologies 
•    Problem Management Process 
•    Effective communication