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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 [email protected]
- 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 #12-61Employment Type
RegularWeekly Hours
40Skills
Communication, Deliverables Management, Financial Consulting, Financial Reporting and Analysis, Governance Reporting, Preparation of Financial Reports, Regulatory Requirements, Risk AssessmentsSkills Required
- Minimum 5 years of relevant experience in a similar position
- Qualified CPA or equivalent qualification
- Knowledge of MAS regulatory reporting requirements for wholesale banks and CMS licenses
- Accounting knowledge for Global Markets products, including global credit financing, FX, repo, and bond trading
- Knowledge of generally accepted accounting principles and local accounting requirements
- Knowledge of IFRS and Canadian accounting requirements
- Diverse knowledge of wholesale banking products, including corporate loans, guarantees, deposits, securities, derivatives, foreign exchange, investment banking M&A, and underwriting
- Experience with financial reporting systems and source systems, including system maintenance, controls, and reconciliations
What We Do
CIBC is here to help all our clients reach their goals. We know the importance of reliable financial products and services, and we’re dedicated to providing them in a way that lets you bank however you want, whenever you want. With innovative tools designed around your priorities and a team fully focused on your success, you’ll get the insights you need to get even closer to achieving your goals. This culture of innovation and shared values of trust, teamwork and accountability are why we’ve been named a top employer in Canada. They’re also why a career at CIBC is more than a job—it’s an opportunity to grow and work alongside some of the brightest in Canada. La Banque CIBC est là pour aider tous nos clients à atteindre leurs objectifs. Nous connaissons l'importance de produits et services financiers fiables, et nous nous engageons à les fournir d'une manière qui vous permette d'effectuer vos opérations bancaires comme vous le souhaitez, quand vous le souhaitez. Avec des outils innovants conçus autour de vos priorités et une équipe entièrement centrée sur votre réussite, vous obtiendrez les informations dont vous avez besoin pour vous rapprocher encore plus de vos objectifs. Cette culture de l'innovation et les valeurs partagées de confiance, de travail d'équipe et de responsabilité sont la raison pour laquelle nous avons été nommés l'un des meilleurs employeurs au Canada. C'est aussi pourquoi une carrière à la Banque CIBC est plus qu'un emploi : c'est une occasion de grandir et de travailler aux côtés de certaines des personnes plus brillantes au Canada
