LEAR team is responsible for performing the below :
Monthly ledger close under USGAAP and IFRS.
Booking month end journals including accounting netting, reclasses, tax adjustments etc. to ensure the books of accounts reflect true and fair view and are in compliance with GAAP requirements.
Producing standalone Financial documents under IFRS / Local GAAP as applicable.
Coordinating with Auditors.
Performing analytical review of the monthly / quarterly and annual variances on BS and P&L and producing business commentaries.
Presenting the financial results and business commentaries to the Sr. management and group reporting team.
Coordinating with Product control, APAG, Operations, Ops risk,
Responsible for the Centralised Account Ownership for the accounts under its purview.
General responsibilities :
Legal Entity Accounting and Review (LEAR) teams are the mainpoint of contact to the Partner Managers for all financial information,including both routine and ad-
hoc requirements, related to a single or a groupof Legal Entities.
LEAR’s purpose is to support the Group Finance team and theRegional Legal Entity Finance teams in the fulfilment of their reporting andgovernance responsibilities via the delivery of materially accurate, policy-
and GAAP-compliant core financials and baseline analytical review.
They are accountable (for a given Legal Entity or group oflegal entities) for ensuring that financial reporting processes and controls inplace within Financial & Management Accounting & Reporting (FMAR) arefit for purpose and that the quality of the outputs produced as a result meetspartner requirements (accurate, timely, etc).
Legal Entity Controllers are within and part of the processowner Organisation.
Posting monthly journals for product level netting and reclass adjustments as we USGAAP and IFRS.
Posting adjustments for correction of P&L geography based on underlying trades.
Liaising with various groups including Operations, APAG, tax, Product control to ensure all accounting adjustment are posted to ledger on time.
Preparing tax reconciliation pack and posting tax adjustments.
Posting GAAP specific adjustments for IFRS, CAD GAAP.
Posting adjustments for discontinued operations, FVTPL reclasses on quarterly basis.
Signing off ledger / ADAC levels for group consolidation and reporting.
Performing analytical review to ascertain business drivers for movements in BS and P&L.
Presenting the financials and USGAAP variance analysis to group reporting team.
Performing account ownership sign offs for the accounts under LEC ownership.
Preparing monthly partner review packs.
Presenting the financials and USGAAP / IFRS variance analysis to Legal Entity Finance (LEF).
Coordinating with regulatory reporting team to provide financial data for regulatory submissions.
Providing the analytical review for regulatory filing.
Preparing Financial documents including board briefing memo.
Preparing management review packs including Audit committee pack, Partner pack, UKIB pack, Conso pack etc.
Ensure that SOPs (standard operating procedures) are developed and kept up to date for all processes.
Liaising with auditors and other upstream departments on an ad-hoc basis.
Contribute in ad-hoc projects to improve processes.
Engaging in change projects.
You have knowledge of GAAP accounting requirements;
You have deep understanding of key aspects associated with the financial documents and the notes to the financial documents of the legal entity;
You have deep knowledge of the key processes, reporting systems and respective upstream feeds including a deep understanding of potential impacts on the end-
to-end reporting flows.
Appropriate product knowledge;
You deep understanding of control standards by which the legal entity and firm is governed, including those established by the Pan Finance OpRisk Control & SOX 404 Compliance function;
You have advance knowledge of MS Office
You have professional English language written and verbal skills
You have strong communication skills
You can emphasize on good documentation which displays the audit trail
You have the ability to liaise with partners would be an added advantage