FINREG Manager

Job Description:

In Scope of Position based Promotions (INTERNAL only)

Job Title- FINREG Manager

Location- Mumbai, India

Role Description

The Vice President, Head of Regulatory reporting is a regulator facing senior role. DBAG India is amongst the top 5 multinational banks in India as well as a global systemically important bank (GSIB). The Head of regulatory reporting is primarily responsible for interpreting the local guidelines and setting up / maintaining the reporting process and a robust controls both in terms of accuracy and timeliness; highlighting any gaps and issues, with timely analysis and appropriate remediation with the accountable Functions and Divisions; leading for Statutory / Regulatory / Internal reporting and audits; implementing / leading innovation and automation projects; representing Finance in multiple governance forums and leading a team of seasoned Finance professionals.

What we’ll offer you

As part of our flexible scheme, here are just some of the benefits that you’ll enjoy

• Best in class leave policy
• Gender neutral parental leaves
• 100% reimbursement under childcare assistance benefit (gender neutral)
• Sponsorship for Industry relevant certifications and education
• Employee Assistance Program for you and your family members
• Comprehensive Hospitalization Insurance for you and your dependents
• Accident and Term life Insurance
• Complementary Health screening for 35 yrs. and above

Your key responsibilities

Role includes leading a team of regulatory reporting & accounting specialists to carry entire gamut of regulatory & local financial reporting. The list below is illustrative.

• Team Management, Leadership & Stakeholder Management:

• Manage overall governance of regulatory reporting in Finance domain and have a complete and thorough understanding of the control environment, identifying gaps and executing remediation plans to mitigate such gaps
• Ensuring all regulatory filings are duly validated for accurate & timely submissions
• Liaising with business, Operations & and other relevant functions for inter-dependencies, review of the submissions and facilitate conflict closure.
• Lead, participate and execute Finance India strategic initiatives with respect to regulatory compliance including defining business requirements & driving system changes with technology & other relevant teams
• Identifying change opportunities and drive innovations along with change specialist teams to implement process changes to enhance efficiency
• Managing and developing team, create back up and resiliency, ensuring its optimal utilization, knowledge management through regular updates of SOPs and attrition risk management
• Managing the day-to-day relationship with all internal & external stakeholders to ensure efficient working partnership and build up a collaborative model

• Local Reporting:

• Managing preparation of Financial Statements as per local accounting standards & RBI guidelines to ensure that Financial Statements meet all disclosure requirements
• Planning local audits & various certification requirements & finalizing appointment of auditors
• Driving the annual statutory audit and primary face off with statutory auditors to finalise financial statements of the Bank as per local regulatory requirements
• Addressing accounting related matters & queries to ensure that accounting of various products & transactions is in accordance with accounting standards, policies, regulations & generally acceptable accounting conventions
• Review of various system & ledger reports required for local reporting
• Balance-sheet substantiation of assets and liabilities designated to Finance.
• Managing various MIS required for review of regulatory compliances & reporting.

• Regulatory reporting: 

• Analyzing new regulations / changes in existing regulations and impact assessment on systems & processes so that regulations are implemented in a timely & accurate basis.
• Partnering with key stakeholders in Business, Compliance, Credit and Operations for bank level regulatory positions / conclusions and submission of regulatory information to the RBI
• Oversight & review of RBI regulatory reports such as Basel prudential reporting (capital adequacy, Pillar 3, ICAAP, LCR, NSFR, large exposure framework, leverage ratio), statutory reserves (CRR, SLR), liquidity reporting, DSB returns, and Risk Based Supervision data points.
• Planning and monitoring the Finance regulatory reporting calendar
• Managing that all regulatory queries are suitable responded both during annual regulatory inspection as well as adhoc queries.
• First touchpoint for the regulator to reach out for inputs and explanations with regards to Financial & regulatory reporting related queries.
• Appearance before regulatory authorities as and when required
• Advising the Bank's businesses on the regulatory reporting impact for new products, implementing and incorporating changes in regulatory reports as new products are introduced by the Bank. 
• Providing the information to Branch Management Board and other forums e.g. Asset Liability Committee, Risk committee) & highlighting key capital and liquidity metrics, risks, gaps & remediation plans
• Leading the Finance team for the India regulatory returns automation changes, thought leadership in redesign of the regulatory reporting platform and underlying data models. Automation of the regulatory reporting platforms and phasing out of manual reporting - providing key insights on implementation based on the complexity of products

Your skills and experience

Experience / Exposure

The candidate must be a motivated and high performing individual. Candidate must be able to handle all levels of complexity in the functional area under control, be able to shift focus of task with relative ease and be flexible enough in shifting workload in accordance with changing priorities and be comfortable dealing with a sometimes stressful and fast-paced dynamic regulatory environment.

• Minimum 15+ years working experience of leading a regulatory reporting team of banks.
• Strong understanding of risk & control and regulatory reporting landscape
• Thorough knowledge on RBI regulations, & various regulatory reportings applicable to foreign banks in india
• Subject matter expert on Financial Statements & disclosure requirements, audit practices, local & Ind-AS accounting standards
• Experienced in managing RBI inspections, regulatory queries & correspondences
• Experienced in dealing with external auditors and consultants
• Experienced in financial accounting & reporting and legal entity control function
• Experienced in running stakeholder meetings, and management of critical issues and ability to influence and manage senior stakeholder audience
• Experienced with internal and external teams to propose developments to the current architecture to ensure greater compliance with Regulatory requirements and drive improved STP processing of reporting
• Knowledge of Income Tax for Banks, ICDS, transfer-pricing regulations is preferable.

Soft Skills

Communication

• Excellent verbal and written communication skills with proven experience of reporting complex concepts to senior management
• Ability to communicate effectively (oral & written) with regulatory authorities and auditors 
• Focused on providing quality output and speed of delivery

Leadership & Analytical abilities

• Strong leadership skills with the ability to motivate, develop and lead by example to drive optimum performance, including ability to share information, transfer knowledge and expertise to wider team members and management
• Displays a high degree of control awareness with focus on Validations & Controls
• Has a natural intellectual curiosity
• Strong analytical / business problem-solving skills including knowledge of automation tools

Time management skills

• Well organized & able to logically present results of work
• Ability to work under pressure and to deadlines
• Ability to manage own time and time of team

Drive and Motivation

• Passion for change and confidence in own abilities
• Be comfortable & willing to drive process improvement and motivate the team
• Diligent, thorough, shows initiative and is proactive

Personal Qualities: Proactive, attention to detail / quality of work, able to cope with pressure and deal effectively with demanding clients. Ability to challenge status quo.

Education / Certification

• Qualified Accountant – Chartered Accountant

How we’ll support you

• Training and development to help you excel in your career
• Coaching and support from experts in your team
• A culture of continuous learning to aid progression
• A range of flexible benefits that you can tailor to suit your needs

About us and our teams

Please visit our company website for further information:

https://www.db.com/company/company.htm

We strive for a culture in which we are empowered to excel together every day. This includes acting responsibly, thinking commercially, taking initiative and working collaboratively.