Director, Finance - Singapore

CIBC; Singapore; On-site; SGD 120,000 - 180,000; Full time

Job summary

CIBC Singapore is seeking a Finance Senior Professional to support the Head of Finance, Singapore. The role focuses on timely financial and regulatory reporting, P&L management, and coordinating with auditors and regulators.

You will review new products for regulatory impact and contribute to improvements in financial controls and reporting systems, supporting MAS and international transfer pricing needs. Strong technical accounting skills are essential.

Qualifications

• Minimum 5 years of relevant experience in a similar position.
• Qualified CPA or equivalent qualification with MAS regulatory reporting requirements for wholesale banks.
• Accounting knowledge for Global Markets products such as Global Credit Financing, FX, Repo, Bond Trading, etc.
• GAAP knowledge incl. IFRS/Canadian requirements preferred.
• Diverse product knowledge in wholesale banking: loans, bonds, deposits, derivatives, FX, M&A, underwriting.

Responsibilities

• Ensure timeliness and accuracy of internal and external financial reporting, regulatory reporting, statutory reporting, P&L and variance analysis.
• Review new products and advise on regulatory and accounting structures and systems.
• Prepare and submit regulatory reporting requirements to MAS in a timely manner.
• Maintain relationships with internal/external auditors, advisors and regulators.
• Ensure financial controls and accuracy, including suspense accounts and policy compliance.
• Assist tax team with income tax returns and transfer pricing requirements.
• Maintain and enhance financial reporting systems for automation and accuracy.
• Participate in finance projects supporting new products and business lines.

Skills

communication

deliverables management

financial consulting

financial reporting

governance reporting

preparation of financial reports

regulatory requirements

risk assessments

Education

CPA or equivalent

Job description

We’re building a relationship-oriented bank for the modern world. We need talented, passionate professionals who are dedicated to doing what’s right for our clients. At CIBC, we embrace your strengths and your ambitions, so you are empowered at work. Our team members have what they need to make a meaningful impact and are truly valued for who they are and what they contribute. To learn more about CIBC, please visit CIBC.com

BUSINESS UNIT 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
• Qualified CPA or equivalent qualification 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

What you need to know

CIBC is committed to creating an inclusive environment where all team members and clients feel like they belong. We seek applicants with a wide range of abilities and we provide an accessible candidate experience. If you need accommodation, please contact [e-mail] You need to be legally eligible to work at the location(s) specified above and, where applicable, must have a valid work or study permit.

Job Location

One Raffles Place Twr 2 #12-61

Employment Type

Regular

Weekly Hours

40

Skills

Communication, Deliverables Management, Financial Consulting, Financial Reporting and Analysis, Governance Reporting, Preparation of Financial Reports, Regulatory Requirements, Risk Assessments

At CIBC, we are in business to help our clients, employees and shareholders achieve what is important to them. Our ability to create value for all CIBC stakeholders is driven by a business culture based on common values: Trust, Teamwork and Accountability. Working with CIBC makes you a part of a work environment committed to our clients, employees and communities - a place where you can excel. Every day, our 48,000 employees help our clients achieve their financial goals, because what matters to our clients, matters to us.