Financial Control - LEC Director

Standard Chartered India; Chennai District; On-site; INR 1,800,000 - 2,800,000; Full time

Job summary

Standard Chartered India is seeking an experienced LEC Controller to lead the financial controllership for a group of entities and to support a segmental controllership function. The role sits on the GFS India leadership team and demands deep IFRS knowledge, statutory compliance, and a strong control framework for timely and accurate reporting.

You will drive end-to-end ledger close, financial reporting, and governance while collaborating with Product Control, country finance teams, and other

Qualifications

• Experience with IFRS reporting and local statutory requirements.
• Proven ability to lead financial controllership teams.
• Strong governance and controls mindset.

Responsibilities

• Lead legal entity controller reporting and analytics.
• Oversee ledger close and financial reporting for entities and segments.
• Drive operating model changes and strengthen controls across functions.
• Support Finance Tech transformation journey and change initiatives.

Skills

Financial controllership

IFRS reporting

Stakeholder management

Process improvement

Cross-functional collaboration

Job description

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 Finance 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)

• 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