Manager – level 2 controls

March 19, 2024

Manager – level 2 controls

ReferenceCIB008315

  • Standard / Permanent
  • IN-MH-Mumbai
  • FINANCE ACCOUNTS AND MANAGEMENT CONTROL
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About BNP Paribas India Solutions:

Established in 2005, BNP Paribas India Solutions is a wholly owned subsidiary of BNP Paribas SA, European Union’s leading bank with an international reach. With delivery centers located in Bengaluru, Chennai and Mumbai, we are a 24×7 global delivery center. India Solutions services three business lines: Corporate and Institutional Banking, Investment Solutions and Retail Banking for BNP Paribas across the Group. Driving innovation and growth, we are harnessing the potential of over 10000 employees, to provide support and develop best-in-class solutions.

About BNP Paribas Group:

 BNP Paribas is the European Union’s leading bank and key player in international banking. It operates in 65 countries and has nearly 185,000 employees, including more than 145,000 in Europe. The Group has key positions in its three main fields of activity: Commercial, Personal Banking & Services for the Group’s commercial & personal banking and several specialised businesses including BNP Paribas Personal Finance and Arval; Investment & Protection Services for savings, investment, and protection solutions; and Corporate & Institutional Banking, focused on corporate and institutional clients. Based on its strong diversified and integrated model, the Group helps all its clients (individuals, community associations, entrepreneurs, SMEs, corporates and institutional clients) to realize their projects through solutions spanning financing, investment, savings and protection insurance. In Europe, BNP Paribas has four domestic markets: Belgium, France, Italy, and Luxembourg. The Group is rolling out its integrated commercial & personal banking model across several Mediterranean countries, Turkey, and Eastern Europe. As a key player in international banking, the Group has leading platforms and business lines in Europe, a strong presence in the Americas as well as a solid and fast-growing business in Asia-Pacific. BNP Paribas has implemented a Corporate Social Responsibility approach in all its activities, enabling it to contribute to the construction of a sustainable future, while ensuring the Group’s performance and stability

Commitment to Diversity and Inclusion

At BNP Paribas, we passionately embrace diversity and are committed to fostering an inclusive workplace where all employees are valued, respected and can bring their authentic selves to work. We prohibit Discrimination and Harassment of any kind and our policies promote equal employment opportunity for all employees and applicants, irrespective of, but not limited to their gender, gender identity, sex, sexual orientation, ethnicity, race, colour, national origin, age, religion, social status, mental or physical disabilities, veteran status etc. As a global Bank, we truly believe that inclusion and diversity of our teams is key to our success in serving our clients and the communities we operate in.

About Business line/Function:

The Accounting Control team performs a key role in maintaining the quality of the accounting control environment that underpins the Finance reporting processes: Group Head Office reporting, Statutory reporting, Regulatory reporting and internal Performance Management reporting for the Regional platform.

The objective of the AC Level 2 control team is to provide independent assurance that Level 1 controls (i.e. controls that are performed to ensure the accounting data is complete and accurate) are properly executed and that Group, CIB and local accounting control policies (incl. the minimum control standards defined in the Standard Accounting Control Plan) are implemented appropriately. This Level 2 control framework includes periodic detailed testing of the documented controls that underpin the Regional accounting ledger balances and specific testing/review of balances and processes in accordance with the BNP Paribas control policies.

The role will require regular interaction with other Finance teams in Region and Mumbai and other control functions and provides the role holder with a broad view of the activities and processes in the Finance function and other functions on which Finance is dependent.

Job Title:

Manager

Date:

Department:

Finance Shared Services

Location:

Business Line / Function:

Accounting Control

Reports to:

(Direct)

VP -N2

Grade:

(if applicable)

(Functional)

Number of Direct Reports:

None

Directorship / Registration:

NA

Position Purpose

The control monitoring group performs a key role in maintaining the quality of the accounting control environment that underpins the Finance reporting processes: Group Head Office reporting, Statutory reporting, Regulatory reporting and internal Performance Management reporting for the Regional platform.

The objective of the CMG team (Level 2 control) team is to provide independent assurance that Level 1 controls (i.e. controls that are performed to ensure the accounting data is complete and accurate) are properly executed and that Group, CIB and local accounting control policies (inc the minimum control standards defined in the Standard Accounting Control Plan) are implemented appropriately. This Level 2 control framework includes periodic detailed testing of the documented controls that underpin the Regional accounting ledger balances and specific testing/review of balances and processes in accordance with the BNP Paribas control policies. Regional Finance operates a bespoke control tool that supports the monthly account justification/substantiation process and the detailed assessment of those accounts determined to have a higher risk profile. Regular reporting on control findings and issues is prepared for local, CIB and Group Finance management including quarterly reporting to Group Finance on the quality of the accounting control environment through FACT (Finance Accounting Control Tool).

Person will be responsible for the timely and accurate completion of CMG control tasks and provide some supervisory support for 1 other member of staff in Mumbai. They will ensure that L2 testing of key Level 1 accounting controls (eg. reconciliations, analyses, journal processes) is performed effectively on a timely basis and control issues escalated to management, the maintenance of the account justification tool, operation of the monthly justification process & collation of results, operation of the FACT sub-certification process and collation of results & selected reporting to Region on these processes.

Responsibilities

 

Direct Responsibilities

 

Perform/review control testing over Level 2 accounting controls that are allocated to Mumbai & provide formal assessment of control quality & recommendations for improvement as required – this is an on-going process throughout each month

Maintenance of control justification tool incl. static update and testing for any new activities as required

Perform monthly system tool process – publishing balances to owners, ensuring all responses received on time & collating issues

Quarterly FACT sub-certification – publish certificates, ensuring responses all received on time & collating issues

Reporting on status of Regional Finance procedures (review status) and tracking external/internal Finance audit recommendations

Liaise with Regional Finance and other control functions as required on a regular and timely basis

Perform reporting to Regional management over control work performed in Mumbai on agreed format/frequency

Support remediation actions for control process issues identified

Maintain up-to-date procedures for all controls operated by the Level 2 Controls Mumbai team

Other finance control tasks/projects as agreed with Finance management

Contribute to the BNP Paribas Operational Permanent Control framework

 

Contributing Responsibilities

 

Support BAU , Project , process improvement .

Technical & Behavioral Competencies

             1      Qualified Chartered Accountant

                    2          Accounting degree or equivalent

3.     Minimum 9  years experiences on accounting audit or accounting control

             4      Banking (mandatory)

             5   IFRS knowledge (Preferable)

6.     Solid understanding of financial instruments and developed skills in analysis of business supporting processes from accounting control perspective

7.     Knowledge of Investment banking products

8.     Strong organizational skills,  rigorous, and self-disciplined

9.     Attention to detail and commitment to maintaining a strong control environment

10.  Good communication skills, (i.e. writing, listening, presentation)

11.  Advanced technical skills (i.e. MS Word, Excel, PowerPoint, Access)

12.  Former audit experience or experiences on the accounting controls within a Finance function in Banking and Financial Services (mandatory)

Specific Qualifications

·       MS Office (at least intermediate)

Skills Referential

Behavioural Skills: (Please select up to 4 skills)

Attention to detail / rigor

Resilience

Critical thinking

Adaptability

Transversal Skills: (Please select up to 5 skills)

Ability to develop and adapt a process

Analytical Ability

Ability to understand, explain and support change

Ability to manage / facilitate a meeting, seminar, committee, training…

Choose an item.

Education Level:

Master Degree or equivalent

Experience Level

At least 10 years

Other/Specific Qualifications (if required)

About BNP Paribas India Solutions:

Established in 2005, BNP Paribas India Solutions is a wholly owned subsidiary of BNP Paribas SA, European Union’s leading bank with an international reach. With delivery centers located in Bengaluru, Chennai and Mumbai, we are a 24×7 global delivery center. India Solutions services three business lines: Corporate and Institutional Banking, Investment Solutions and Retail Banking for BNP Paribas across the Group. Driving innovation and growth, we are harnessing the potential of over 10000 employees, to provide support and develop best-in-class solutions.

About BNP Paribas Group:

 BNP Paribas is the European Union’s leading bank and key player in international banking. It operates in 65 countries and has nearly 185,000 employees, including more than 145,000 in Europe. The Group has key positions in its three main fields of activity: Commercial, Personal Banking & Services for the Group’s commercial & personal banking and several specialised businesses including BNP Paribas Personal Finance and Arval; Investment & Protection Services for savings, investment, and protection solutions; and Corporate & Institutional Banking, focused on corporate and institutional clients. Based on its strong diversified and integrated model, the Group helps all its clients (individuals, community associations, entrepreneurs, SMEs, corporates and institutional clients) to realize their projects through solutions spanning financing, investment, savings and protection insurance. In Europe, BNP Paribas has four domestic markets: Belgium, France, Italy, and Luxembourg. The Group is rolling out its integrated commercial & personal banking model across several Mediterranean countries, Turkey, and Eastern Europe. As a key player in international banking, the Group has leading platforms and business lines in Europe, a strong presence in the Americas as well as a solid and fast-growing business in Asia-Pacific. BNP Paribas has implemented a Corporate Social Responsibility approach in all its activities, enabling it to contribute to the construction of a sustainable future, while ensuring the Group’s performance and stability

Commitment to Diversity and Inclusion

At BNP Paribas, we passionately embrace diversity and are committed to fostering an inclusive workplace where all employees are valued, respected and can bring their authentic selves to work. We prohibit Discrimination and Harassment of any kind and our policies promote equal employment opportunity for all employees and applicants, irrespective of, but not limited to their gender, gender identity, sex, sexual orientation, ethnicity, race, colour, national origin, age, religion, social status, mental or physical disabilities, veteran status etc. As a global Bank, we truly believe that inclusion and diversity of our teams is key to our success in serving our clients and the communities we operate in.

About Business line/Function:

The Accounting Control team performs a key role in maintaining the quality of the accounting control environment that underpins the Finance reporting processes: Group Head Office reporting, Statutory reporting, Regulatory reporting and internal Performance Management reporting for the Regional platform.

The objective of the AC Level 2 control team is to provide independent assurance that Level 1 controls (i.e. controls that are performed to ensure the accounting data is complete and accurate) are properly executed and that Group, CIB and local accounting control policies (incl. the minimum control standards defined in the Standard Accounting Control Plan) are implemented appropriately. This Level 2 control framework includes periodic detailed testing of the documented controls that underpin the Regional accounting ledger balances and specific testing/review of balances and processes in accordance with the BNP Paribas control policies.

The role will require regular interaction with other Finance teams in Region and Mumbai and other control functions and provides the role holder with a broad view of the activities and processes in the Finance function and other functions on which Finance is dependent.

Job Title:

Manager

Date:

Department:

Finance Shared Services

Location:

Business Line / Function:

Accounting Control

Reports to:

(Direct)

VP -N2

Grade:

(if applicable)

(Functional)

Number of Direct Reports:

None

Directorship / Registration:

NA

Position Purpose

The control monitoring group performs a key role in maintaining the quality of the accounting control environment that underpins the Finance reporting processes: Group Head Office reporting, Statutory reporting, Regulatory reporting and internal Performance Management reporting for the Regional platform.

The objective of the CMG team (Level 2 control) team is to provide independent assurance that Level 1 controls (i.e. controls that are performed to ensure the accounting data is complete and accurate) are properly executed and that Group, CIB and local accounting control policies (inc the minimum control standards defined in the Standard Accounting Control Plan) are implemented appropriately. This Level 2 control framework includes periodic detailed testing of the documented controls that underpin the Regional accounting ledger balances and specific testing/review of balances and processes in accordance with the BNP Paribas control policies. Regional Finance operates a bespoke control tool that supports the monthly account justification/substantiation process and the detailed assessment of those accounts determined to have a higher risk profile. Regular reporting on control findings and issues is prepared for local, CIB and Group Finance management including quarterly reporting to Group Finance on the quality of the accounting control environment through FACT (Finance Accounting Control Tool).

Person will be responsible for the timely and accurate completion of CMG control tasks and provide some supervisory support for 1 other member of staff in Mumbai. They will ensure that L2 testing of key Level 1 accounting controls (eg. reconciliations, analyses, journal processes) is performed effectively on a timely basis and control issues escalated to management, the maintenance of the account justification tool, operation of the monthly justification process & collation of results, operation of the FACT sub-certification process and collation of results & selected reporting to Region on these processes.

Responsibilities

 

Direct Responsibilities

 

Perform/review control testing over Level 2 accounting controls that are allocated to Mumbai & provide formal assessment of control quality & recommendations for improvement as required – this is an on-going process throughout each month

Maintenance of control justification tool incl. static update and testing for any new activities as required

Perform monthly system tool process – publishing balances to owners, ensuring all responses received on time & collating issues

Quarterly FACT sub-certification – publish certificates, ensuring responses all received on time & collating issues

Reporting on status of Regional Finance procedures (review status) and tracking external/internal Finance audit recommendations

Liaise with Regional Finance and other control functions as required on a regular and timely basis

Perform reporting to Regional management over control work performed in Mumbai on agreed format/frequency

Support remediation actions for control process issues identified

Maintain up-to-date procedures for all controls operated by the Level 2 Controls Mumbai team

Other finance control tasks/projects as agreed with Finance management

Contribute to the BNP Paribas Operational Permanent Control framework

 

Contributing Responsibilities

 

Support BAU , Project , process improvement .

Technical & Behavioral Competencies

             1      Qualified Chartered Accountant

                    2          Accounting degree or equivalent

3.     Minimum 9  years experiences on accounting audit or accounting control

             4      Banking (mandatory)

             5   IFRS knowledge (Preferable)

6.     Solid understanding of financial instruments and developed skills in analysis of business supporting processes from accounting control perspective

7.     Knowledge of Investment banking products

8.     Strong organizational skills,  rigorous, and self-disciplined

9.     Attention to detail and commitment to maintaining a strong control environment

10.  Good communication skills, (i.e. writing, listening, presentation)

11.  Advanced technical skills (i.e. MS Word, Excel, PowerPoint, Access)

12.  Former audit experience or experiences on the accounting controls within a Finance function in Banking and Financial Services (mandatory)

Specific Qualifications

·       MS Office (at least intermediate)

Skills Referential

Behavioural Skills: (Please select up to 4 skills)

Attention to detail / rigor

Resilience

Critical thinking

Adaptability

Transversal Skills: (Please select up to 5 skills)

Ability to develop and adapt a process

Analytical Ability

Ability to understand, explain and support change

Ability to manage / facilitate a meeting, seminar, committee, training…

Choose an item.

Education Level:

Master Degree or equivalent

Experience Level

At least 10 years

Other/Specific Qualifications (if required)

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