Job Purpose:
As the Legal Entity Accountant, the purpose of the role is to take responsibility for the financial reporting, and the related controls and responsibilities for the broker-dealer entity (CGM SA) and the banking entity (CBNA SA)
Job Background/context:
The role is based within the South African Finance team and reports directly through to the Country Controller. The role will provide support to the Legal Entity Managers for the broker-dealer entity (CGM SA) and banking entity (CBNA SA) including but not limited to month/quarter and year end reporting and execution of controls.
The scope of activities and operations of Citi South Africa gives rise to a great opportunity for an experienced and highly effective candidate with the appropriate Accounting and Regulatory Reporting experience to play a critical role in the successful execution of this function.
The role is challenging and highly visible and, requires a fully functional Candidate on all aspects of financial reporting including regulatory reporting aspects related to the Johannesburg Stock Exchange (JSE)
The Finance team is part of the Controllers Discipline within Finance and plays an integral part in the local franchise, and responsible for:
- Ensuring accurate and timely reporting to local regulators (SARB and JSE) and reporting to senior management,
- Integrity of ledger for 2 main legal vehicles under both IFRS and US GAAP.
- Legal entity management responsibilities including adhering to Citi legal entity policies and entity booking conventions and expense management.
- Financial planning
- Capital management.
- Maintaining a strong control environment.
- Improves and enhance processes.
The role of the Legal Entity Accountant is placed within South African Finance department and reports to the Country Controller) and is involved in the daily management of all the Financial Accounting. The Legal Entity Accountant role would typically involve:
- Overseeing and monitoring the month end close process for both Citigroup ledger as well as local ledger (BDA), working in partnership with various stakeholders across geographies.
- Review of monthly management book numbers
- Accurate review and analysis of the JSE CapAd returns prepared by the regulatory reporting team.
- Prepare and update quarterly reports which are required for corporate US reporting (Qmemo, Cashflow, Expense Attestation etc.)
- Review, interpret and implement JSE regulations.
- Have a sound understanding of the annual financial statements and the accounting standards and their impact on various reporting aspects within Finance.
- Responsible for the co-ordination of financial related audits, both internal and external impacting legal entity management matters
- Prepare annual financial statements for CGM SA
- Assist Product Control and Middle Office with the resolution of trading P&L and dividend breaks on the BDA local ledger versus US GAAP internal ledger reconciliation.
- Application of strong internal controls, with a focus on continually strengthening the control environment
- Identifying areas where process improvements can be made to achieve efficiencies and a strong control environment.
- Preparation of the monthly control file for review by the Country Controller. Participate in the quarterly Manager Control Assessment (MCA) process.
- Support the improvement of data quality as it pertains to financial and regulatory reporting.
- Supports capital management of the broker dealer.
- On an annual basis, manage the external audit as well as production of annual financial statements.
- Support the CFO with ad-hoc requests.
- Drive the annual plan (budgeting) process for businesses in CGMSA.
- Support application and implementation of IFRS standards and product accounting
- Adhere to the policies and procedures of the balance sheet substantiation process for accounts owned.
- Provide support and analytical insight of various financial and regulatory aspects and perform business analysis, including advisory support to business.
- Provide support (preparation of committee packs, analysis of information for business purposes) for various management committee meetings and external meetings (Regulator on-site visits), including ability to assist with chairing meetings where required.
- Working closely with Business partners and other functions to gain a thorough understanding of CGMSAs businesses, risks, and controls.
- Implementation of any new financial or management reporting requirements
The job will expose the candidate to:
- US Financial and management reporting
- Gain first hand exposure to a JSE registered Equity Broker including the JSE regulations and rules.
- Accounting and products advisory Equity and Equity derivatives
- Develop a well-rounded knowledge base of all Finance aspects as it relates to Banking.
- Gain technical knowledge of IFRS.
- Gain technical knowledge of CapAd reporting.
- Gain knowledge of Financial Planning and Analysis
- Gain knowledge on an assortment of products offered by Citigroup.
- Gain exposure to management committees and skills in assisting in preparing committee decks.
- Gain knowledge on risk and control framework.
- Gain skills on interacting with internal and external audit.
- Strong Experience in Bank/Broker Financial Reporting Environment (at least 5 years experience in banking/brokerage firms)
- Strong Experience in IFRS as well as financials preparation and analysis
- Exposure to Risk/ Audit / or Actuarial activities also an added advantage
- FM of Financial Institution / Stockbroker an advantage
- Regulatory Reporting Experience relating to Banks Act Regulations relating to Banks as published by the South African Reserve Bank
- Internal controls
- Operational risk
- US GAAP and or IFRS
- Financial and Management Accounting
- JSE systems knowledge (BDA)
- Financial accounting Expert
- Regulatory reporting Intermediate
- Tax reporting Intermediate
- Strong interpersonal and communications skills
- Good teamwork and project management skills.
- Proficiency in Excel, Power point and word office software.
- An energetic and highly motivated self-starter with an assertive character, a hands on approach and who aspires to being a key contributor in a dynamic team environment of professionals.
- Strong interpersonal and interactive skills with different business areas in Finance.
- A pro-active decision maker who has the ability to champion Finance initiatives through to successful conclusion.
- Displays clear accountability and ownership of issues related to balance sheet and income statement accounts.
- Planning and time management
- Ability to work under pressure.
- Written communication skills ability to express and communicate concisely and clearly to senior management
- Relevant Accounting/Finance or risk related qualifications.
- Chartered accountant or equivalent.
Job Family Group:
Finance
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Job Family:
Financial Reporting
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Time Type:
Full time
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