Job description:

Position Summary

Head of Finance Control (FCO), within the Accounting & Finance department (ACFI) of Societe Generale Corporate & Investment Bank (SGCIB).

This is a managerial role with a team of four people responsible for the finance control activities of all the transactions book in London.

Main Responsibilities

The main responsibility is to perform, review control processes and manage the team responsible for the accuracy and completeness of the financial information produced by SGCIB in London. A reporting package is submitted to the Head Office in Paris and FCO which summarise the risks, control and accounting issues encountered during the monthly and quarterly production of results. The monthly production of results is the responsibility of the Accounting & Reporting team (ACR) which is also part of ACFI.

Work with other various departments to identify, resolve and monitor accounting and internal control issues on an on going basis. The Manager of Finance Control will have access to the following areas: (Front Office, Middle Office, Back Office in both London and Paris).

Review the existing financial controls in place and implement controls were necessary to mitigate operational and accounting risks.

Work on specific ACFI projects identified by the CFO or the Head of Accounting and Reporting.

The Finance Control work will be formalised through:

Monthly close report detailing the controls performed, the risk areas, the improvements needed, and the on going projects to address risk areas. A monthly report will be sent to the CFO in London, as well as to the head of Finance Control in Paris Monthly meetings with the CFO and the Head of Accounting and Reporting to discuss the contents of the above report.

Review work performed by Finance Control Officers to ensure that control procedures performed are adequate and that issues raised are subsequently resolved in a timely manner. Work performed include review of reconciliations between FO, BO and Accounting results, perform analytical review procedures on results for Business Lines, Review of valuations, Review work performed by Product Controllers to validate profit and loss for Business Lines, Review of Special Purpose Entities.

Review permanent supervision files submitted by account owners and ensure that accounts have been properly substantiated in accordance with the Permanent Supervision guidance.

Train and develop Finance Control Officers to ensure that they are equipped with the necessary operational and accounting skills that will enable them to take on more challenging roles in ACFI or Business lines after completing their training in FCO.

The above aspect of the job should represent approx 50% of the time of the Head of Finance Control job, as he/she will be assisted for the daily/monthly controls by his team. The other 50% of the Head of Finance Control will be spend on the following areas:

Internal audit department - Be the first point of contact for Internal Audit. Follow up outstanding audit points with ACFI staff and ensure that Internal Audit recommendations are effectively implemented by the ACFI staff in accordance with the deadlines agreed.

External auditors - Be the first point of contact for external auditors as they will rely on FCO controls to scope their audit work.

A significant proportion of income is retroceded to and from SG London which exposes the Bank to transfer pricing risk. The Head of Finance Control is responsible for the on going monitoring of the controls over the retrocession processes. Work involves reviewing the retrocession grids completed by the business line Divisional Finance Officers in Paris and following up any concerns that we have from a London perspective.

Maintain regular contact with Finance Control Paris and ensure that any requests from Paris on local risks and controls are addressed promptly. This may require ad-hoc visits to Paris.

New Business Committee - Represent ACFI on the NBC. This will involves assisting the Head of Accounting & Reporting and the CFO in identifying and addressing key internal control and accounting issues for any new product lines or business initiatives. FCO opinion is required prior to approve of products or new business by the NPC.

Operational Risk Committee - Represent ACFI at the quarterly ORC meetings and ensure that ACFI is aware of operational risks within SGLB and how this impacts on the accounting and financial reporting.

Operational Risk Management - Take ownership of ORM for ACFI and ensure that:

• Operational Losses are accurately reported in the operational risk management tool.

• ACFI internal controls are confirmed as performed through declaration in the Morse tool.

• The database of ACFI operational procedures is kept up to date and reviewed annually to document changes in current circumstances.

Degree of Autonomy / Level of Authority

In charge of the work of four Finance Control Officers - two of them being experienced accountants.

The position will report the Head of Accounting & Reporting for London and to the CFO Europe.

CANDIDATE PROFILE

Education & Past Experience

• ACA or ACCA or equivalent.
• Relevant post qualification experience.
• Ability to work under pressure
• Good background of internal control systems gained through audit in a Big 4 accounting firm or Internal Audit Department in an Investment Banking Environment.
• Excellent knowledge of Front Office, Back Office and Accounting Systems Good analytical skills Excellent communication at all levels in the organisation as he/she will be involved in high profile meetings within the Bank.
• Fluent written and spoken English
• French language an added advantage

Technical Skills & Persoanl Abilities

• Excellent knowledge of investment banking products.
• Problem solver
• Good understanding of financial services regulations.
• Good knowledge of Accounting Standards, mainly IFRS. French GAAP an added advantage.
• Flexible approach and willingness to work with a team and take time to provide guidance to junior staff members.