Assistant Vice President, Accounting Control

Cranford, UK
Closing date
14 Oct 2020
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We are MUFG. 360 years of heritage. A world-class set of businesses. And more than 180,000 employees in 50 markets. It's no surprise that MUFG has grown to become one of the top five banks in the world. Our services include commercial banking, trust banking, securities, credit cards, consumer finance, asset management, and leasing. MUFG offers stability in an ever-changing market, providing services to high-profile clients worldwide.

Our vision? To become the world's most trusted financial group. You'll help us achieve it.

Overview of Department/Section

Finance is responsible for the effective financial management and stewardship of the detailed accounting records, general ledger reporting, budgeting and forecasting, and tax affairs of the company. The Financial Reporting team are responsible for the annual and interim published financial statements, interaction and management of the external audit process, monthly balance sheet control and reporting and quarterly reporting to head office in Tokyo.

Main Purpose of the role

Our Accounting Control Team is responsible for the central reconciliation of finance systems to upstream sources and related control aspects for MUFG Securities EMEA Plc and MUFG Securities (Europe) N.V. More specifically, daily and monthly control of the general ledger, reconciliation of revenues across all trading books between Oracle and Product Control Consolidated P&L, expense management and reporting, substantiation of balance sheet, documentation and processing of hedge accounting. The team works closely with the Financial Reporting Team contributing to Head Office Reporting and Statutory Reporting.

Key Responsibilities

You will have full accountability for and contribute to the Team's monthly close process to ensure that reported numbers are delivered accurately and in a timely manner, the primary activities include (but are not limited to):

  • Detailed reconciliation of revenues to source systems and management reports to ensure accuracy of balances in GL and understanding the composition of balances
  • Revenue analysis and commentary considering valuations and provisions
  • Conducting detailed analysis in support of the Product Control and wider Finance functions
  • Internal and external cash reconciliations

  • Expenditure recording & analysis for both trading and operating expenses
  • Accruals and prepayments for specified expenses, including compensation and benefits
  • Cost allocations (Support Function to Front Office, Front Office to Front Office, International & additional cross entity Front Office allocations)

Balance Sheet:
  • In depth third party based Balance sheet substantiation
  • Ensuring products are classified correctly where systems postings do not achieve the desired outcome
  • You will proactively contribute to the monthly GL close, through review of key controls and underlying trade data supporting an end-to-end understanding of systems and process flow and comprehensive ownership of underlying trade data.
  • You will have an understanding of and be able to contribute to the Regulatory Reporting the Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA) for FINREP and Asset Encumbrance.
  • You will compliment timely and accurate management reporting and financial reporting with value-add analysis through detailed analytical procedures to understand business performance and drivers, highlighting areas for business optimisation through compression, capital planning and leverage exposure management.
  • You will leverage Business Intelligence and your knowledge of systems architecture to develop and automate processes to enhance control, increase efficiencies and enable greater focus on value-add analysis.
  • Extensive communication is required across the firm including direct interaction with trading desks, risk teams, product control and other Finance teams with regular communication with Tokyo colleagues.
  • You will engage with external auditors to support the process throughout the cycle, including interim procedures, controls review and year-end substantive testing.
  • The team is expected to maintain recent detailed process notes for all material areas of responsibility and support other team members through cross-training and knowledge sharing to promote a culture of continual professional development across the team.

Skills and Experience
  • Big 4 trained preferred and ACA/ACCA qualified
  • Financial instruments experience
  • Solid knowledge of IFRS required
  • Experience of working in a multi-GAAP Group function desirable
  • Familiarity with PRA/FCA Reporting requirements
  • Familiarity with working with very large volumes of complex data
  • Experience of using Business Intelligent tools in developing automated reporting solutions
  • Competent user of Microsoft Office with advanced Excel skills

Personal Requirements
  • Results driven, with a strong sense of personal accountability
  • The ability to work flexibly in managing large workloads and tight deadlines
  • Outstanding attention to detail and accuracy
  • The ability to operate with urgency and priorities work accordingly
  • A structured and logical approach, using your own initiative and good judgement to work autonomously
  • The ability to think about topics holistically in gaining a front to back understanding of areas outside your immediate remit
  • Excellent interpersonal skills and confident communication style

MUFG is committed to embracing diversity and building an inclusive culture where all employees are valued, respected and their opinions count. We support the principles of equality, diversity and inclusion in recruitment and employment, and oppose all forms of discrimination on the grounds of age, sex, gender, sexual orientation, disability, pregnancy and maternity, race, gender reassignment, religion or belief and marriage or civil partnership.

We make our recruitment decisions in a non-discriminatory manner in accordance with our commitment to identifying the right skills for the right role and our obligations under the law.

We are open to considering flexible working requests in line with organisational requirements.
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