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We’re currently looking for a high caliber professional to join our team as Managing Director, Controller Reconciliation Utility Head - Hybrid(Internal Job Title: Balance Sheet Reconciliation Function Grp Mgr - C16) based in Mumbai, India. Being part of our team means that we’ll provide you with the resources to meet your unique needs, empower you to make healthy decision and manage your financial well-being to help plan for your future. For instance:
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Citi Finance is responsible for the firm’s financial management and related controls. The team comprises disciplines including Treasury, Tax, Controllers and Financial Planning & Analysis, and manages and partners on key Citi initiatives and deliverables, such as our quarterly earnings process and ensuring Citi’s compliance with financial rules and regulations.
The Financial Planning and Analysis Senior Group Manager is a senior management level position responsible for providing management with an analysis and insight of Citi’s financial results in coordination with the broader Finance team. The overall objective is to manage professional team(s)/department(s) and apply analytical thinking/knowledge of data analysis methodologies to create and analyze reports that gauge Citi’s alignment with forecasted performance.
In this role, you’re expected to:
The position (Balance Sheet Reconciliation Functional Lead) is responsible for leading key business processes related to the US GAAP Financial reconciliation of Balance Sheet Accounts. This is senior leadership role within Controllers function with oversight of 300+ reconcilers/reviewers across the globe, including outsourced partners. The role is part of Controller Organization, reporting to Controller Systems & Data Operations (CSDO) Head, who is a direct report to Citi’s Chief Accounting Officer & Corporate Controller.
CSDO is responsible for all systems and data operations for Controllers covering ledger systems, non-ledger systems, BS Reconciliation and several transformation programs. Reconciliation Utility is one of largest single function in all of controllership, supporting all business segment and asset class controllers. The role also acts as the primary sponsor for all technology initiatives in this space.
CORE FUNCTION
Ownership for running controller’s centralized reconciliation function in accordance with Balance Sheet Reconciliation & Substantiation Policy, Procedure and Minimum Standards. This needs deep understanding of the different business segments, data & transactions flows and accounting under US GAAP
Continuously review departmental processes and procedures for automation to maintain efficiency and accuracy of reporting. Ensure processes are properly documented and are SOX complaint.
Ensure all strategic priorities of the Controllers Systems and Data Operations and Reconciliation function are given senior level focus.
Point of escalation for Segment Controllers, Balance Sheet Governance (BSG), SOX Controllers and Operations Leadership. Escalate and facilitate remediation of material reconciliation exceptions in coordination with Account Owners.
Drive timely, complete and accurate attestation of all owned GL account keys in compliance with BSR&S Policy, reduce red account balances and any risk exposure
Partner with BSG in driving monthly Account Review Forum (ARF) with Account Owners Groups and senior controllers and ensure all significant reconciliation and substantiation exceptions are highlighted and discussed for remediation.
In partnership with Technology, drive automation and Straight through Processing. In addition, design and implement AI solutions to detect anomalies and generate more intelligent reconciliation documentation for Account Owners to review and attest
Play a key role in driving and support implementation of strategic ledger. Formulate strategy and execute UAT for the reconciliation function.
Serve as subject matter expert (SME) on business/ accounting/financial reporting issues related to Reconciliation and substantiation matters, understanding data handoffs and facilitate identification of data breaks and data quality issues impacting reconciliation.
Understand the interrelated dynamics of the Reconciliation Function with the overall detective control framework of the Bank, Second and third lines of defense.
Engage with other senior leadership across controllers Group and drive location level strategic priorities of the organization.
TALENT DEVELOPMENT
Leading controller’s centralized reconciliation function (300+ members across India, Philippines, China and a small presence in Costa Rica), including all aspects of people management such as hiring, team building, development, performance evaluation, and compensation
Build these capabilities by recruiting and training appropriate junior and senior level staff, build sustainable training programs, help drive implementation of globally standard process improvements and automation tools
Acquire, develop and retain diverse talent that has end-to-end process knowledge, business and product knowledge and analytical skills to drive process excellence
ENHANCING CONTROLS
Appropriately assess risk when business decisions are made, demonstrating particular consideration for the firm's reputation and safeguarding Citigroup, its clients and assets, by driving compliance with applicable laws, rules and regulations, adhering to Policy, applying sound ethical judgment regarding personal behavior, conduct and business practices, and escalating, managing and reporting control issues with transparency, as well as effectively supervise the activity of teams and create accountability with those who fail to maintain these standards
Active participation and lead in global Internal Audits as well as KPMG audit engagements
Establish and maintain appropriate documentation/controls to ensure the integrity of financial, regulatory and management information.
Create effective control environment to ensure adherence with all internal and external policies and procedures. Direct and coordinate audits and internal reviews. Establish a process to ensure all necessary reporting functions are operating effectively and efficiently
Drive zero tolerance culture on control breaches
Drive and coordinate remediation of all high and medium risk End User Computing tools
As a successful candidate, you’d ideally have the following skills and exposure:
A successful candidate needs to have following skills and exposure:
Seasoned leader with extensive years of proven experience in running scaled, hi-impact and dynamic operations
Strong knowledge of accounting, financial reporting and/ or product control
Experience developing and leading high performing and motivated teams across geographies
Very high degree of strategic thinking – ability to quickly synthesize large amount of data and information, translate actions into a coherent, time-bound plan, and ability to articulate the same to senior audience that will regularly include Citi’s Corporate Controller and Ops Heads
Outstanding presentation skills. Ability to write concise and high-impact presentations is a key to success. This individual will need to regularly present options / recommendations / solutions to leadership and lack of ability to crate impactful presentation and without that skill set, will be severely handicapped to drive the points home in a succinct manner
Outstanding verbal communication skills – ability to articulate complex issues with getting stuck in technical jargon or process details and have the gravitas of presentation for his / her ideas to be considered seriously by key decision makers
Strong financial management skills – ability to do real-time HC-based expense fcsting and willingness to constantly reorganize team capacity / structure to optimize expenses through small- and large-scale process re-engineering
Ability and willingness to make decisions with incomplete information and be agile to pivot as needed
Natural project management skills – ability to translate any execution need into a series well-coordinated tasks, with timeline and ownership, and follow that simple approach to delivery
Demonstrated ability to manage risks and enhance controls in complex financial accounting processes
MBA strongly preferred
CA or equivalent academic degree is a plus
Working at Citi is far more than just a job. A career with us means joining a family of more than 230,000 dedicated people from around the globe. At Citi, you’ll have the opportunity to grow your career, give back to your community and make a real impact.
Take the next step in your career, apply for this role at Citi today
https://jobs.citi.com/dei
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