Director, Finance

cibc capital markets; Singapore; On-site; SGD 90,000 - 130,000; Full time

Job summary

CIBC Capital Markets in Singapore seeks a seasoned finance professional to support regulatory and management reporting, P&L and tax compliance for the wholesale banking segment. You will engage with auditors, regulators and internal stakeholders to ensure accurate financial results and robust controls.

The role requires 5+ years of relevant experience, strong GAAP knowledge and ability to review complex financial products.

Qualifications

• Minimum 5 years of relevant experience in a similar position.
• MAS regulatory reporting requirements for wholesale banks and CMS license understanding.
• Accounting knowledge for Global Markets products (Global Credit Financing, FX, Repo, Bonds, Trading).
• GAAP local requirements; IFRS/Canadian requirements preferred.
• Diverse product knowledge across wholesale banking products (loans, bonds, deposits, securities, derivatives, FX, M&A).
• Financial reporting systems and data reconciliation controls.

Responsibilities

• Ensure timeliness and accuracy of internal and external financial reporting and regulatory reporting.
• Review new products and advise on regulatory and accounting structures.
• Prepare and submit regulatory reporting to MAS.
• Maintain relationships with auditors, advisors and regulators.
• Ensure financial controls are applied and provide accurate information.
• Assist tax team with income tax returns and transfer pricing compliance.
• Maintain and optimize financial reporting systems for timely insights.
• Participate in projects from Finance perspective for new products and lines.

Job description

The Finance group provides financial services to CIBC’s businesses through effective governance and decision support processes. These services include financial, management and regulatory reporting, maintenance of accounting records and internal controls, financial analysis and planning, tax planning and compliance, treasury, global sourcing and payment processing, regular reviews of business line performance, corporate real estate and liaison with CIBC’s investors. In addition, Finance assists Corporate Development in providing financial advice regarding CIBC’s business opportunities and transactions.

LINE OF BUSINESS DESCRIPTION

Finance Shared Services, Singapore is a one stop shop providing the full suite of Finance services to Singapore office. The team performs Financial regulatory, management and statutory reporting, accounts payables and expense accounting and supports taxation. The team provides value by helping clients and partners to make effective decisions, compliance with regulatory and statutory requirements, processing of vendors invoices and staff expenses, participation and support of global and regional projects/initiatives.

Main Objectives

Act as an active support to the Head of Finance, Singapore , providing accurate information and management of staff to carry out the Finance’s functions re expense processing, financial regulatory reporting, statutory reporting, profit and loss reporting, projects and initiatives for Singapore Branch and the Capital Market Service license entity.

Key Responsibilities include:

• To ensure the timeliness and accuracy of both internal and external financial reporting, financial regulatory reporting, statutory reporting, profit and loss reporting and variance analysis.
• To review new products and advise on regulatory and accounting structures and systems.
• Timely preparation and submission of the regulatory reporting requirements to MAS.
• To be responsible for maintaining good working relationships with internal and external auditors, advisors and regulators
• Ensure financial controls (e.g. review of suspense accounts, review of incentive compensation accounts, aged items, reconciliation, application of policy etc.) are applied in a manner that provides accurate financial information.
• Preparation and filing of the Financial statements and assist tax team by providing information as requested for income tax returns as well as the international transfer pricing requirements.
• Maintain financial reporting systems in a manner which aids automation and accuracy and provides timely information to the Head of Finance.
• Participate in projects from Finance perspective to support new products and business lines.

Primary internal and external contacts:

• Head of Finance Australia - as a line manager
• Head of Finance Singapore – advising on current activities and concerns for finance in Singapore
• Singapore Finance – direct reports, discussing work in progress, new initiatives, review of figures and local staff concerns.
• Tax Group – covering local tax reporting and transfer pricing agreements.
• Internal Audit – in relation to review of financial results and performance of Finance group.
• External Audit – regarding planning reviews and audit work and local accounting issues.
• Regulator – Financial regulatory returns and attending to ad hoc Financial request/queries from Regulators

Qualifications and Experience

• Minimum 5 years of relevant experience in a similar position
• MAS regulatory reporting requirements for wholesale banks as well as CMS license to ensure that the requirements are understood and delivered
• Accounting knowledge for Global Markets product like Global Credit Financing, FX, Repo, Bond Trading etc.
• Generally Accepted Accounting Principal covering local requirements to ensure financial records meet the local standards, IFRS/Canadian requirements is preferred
• Diverse product knowledge in general wholesale banking products such as corporate loans, contingents such as bonds/guarantees, deposits, securities, derivatives and foreign exchange, investment banking M&A and underwriting covering business activities in office to ensure proper review and analysis of performance is achieved
• Financial reporting systems including source systems in order to provide efficient use and maintenance of the systems from a financial reporting perspective and ensuring that proper control and reconciliation is undertaken