Executive Director, Financial Reporting and Governance in London

We're building a relationship-oriented bank for the modern world. We need talented, passionate professionals who are dedicated to doing what's right for our clients. At CIBC, we embrace your strengths and your ambitions, so you are empowered at work. Our team members have what they need to make a meaningful impact and are truly valued for who they are and what they contribute.

The role of Head of Financial Reporting and Governance (Tempo) sits within the External Reporting Team in UK Finance Shared Services. The candidate will report to the Executive Director, Head of External Reporting, UK Finance.

As Head of Financial Reporting and Governance (Tempo) you will be responsible for ensuring all financial reporting requirements relating to London and Luxembourg as assigned to your team have been met, the team meet its objectives in terms of management of the general ledger and related policies and ensuring timely and accurate reporting to the directors and the business as required. Also to ensure Expense Accounting Group meets all expense processing and reporting requirements in line with business requirements. Overall ensuring timely and accurate reporting to the appropriate bodies, whether internal or external (Bank of England, Regulators and external auditors) and maintaining an effective Financial Control Environment.

You will also be responsible for ensuring governance requirements for Europe and Asia are met, there is an appropriate Governance structure and provide advisory services for process enhancements, control implementation, key risk identification, regulatory exposure among various others. You will be responsible for ensuring ongoing control effectiveness of the control environment through test plans, reviews and control design, reporting to management and suggesting improvements as required.

The UK Finance group provides expert information, advice and decision-making support to facilitate the success of the Europe and Asia Pacific CIBC Capital Markets, Treasury and Wholesale Origination businesses. The UK Finance group provides four key services to our clients: daily and monthly management reporting, regulatory reporting, statutory reporting, and data management. These services are scalable and flexible across the board to meet the evolving needs of the business, and support business growth and expansion.

Main Objectives

• Team management: Manage Financial Reporting and Governance teams to ensure team objectives are met. Complete performance objectives and reviews for team members.
• Financial Reporting: Own and Manage the financial reporting cycle for Europe, covering Financial statements Lux, FINREP for both London Branch and Lux and the Branch Return (London Branch) plus any other related reporting requirements assigned to your team. Manage the GL Close Process, identifying errors prior to close and ensuring the integrity of the London Ledger. Ensure monthly attestations, reconciliations are complete and reviewed for any exceptions. Own and resolve, in conjunction with Finance Toronto, Org Unit owners, HR and other relevant parties in GL/accounting issues, as they arise. Manage Expense Accounting, ensuring timely payment of suppliers and clearance of cash suspense. Review of revenue and cost streams and perform sensitivity analysis around variances and ensure items are booked appropriately and material errors corrected before month end close. Ensure all reporting and commentaries required by management is completed in a timely and accurate manner. Ensure effective controls are in place for areas of responsibility in line with SOX requirements. In conjunction with the Allocations Management Group work towards achieving a satisfactory level of comfort that the London support allocations are reasonable and booked at the correct org units and desk level. Review cost allocations to the UK region to validate appropriateness of charges. Be the London point of contact on all Allocations and Transfer Pricing issues and establish good relations with all interested parties in order to ensure London's position on transfer pricing is clearly understood and maintained. Ensure transfer pricing amounts booked correctly and summarized with all invoice documentation. Review the reporting processes and consider/implement potential improvements and automations to streamline the processes and for inclusion in the net reduction tracker.
• Governance: To be Finance governance lead for Europe and APAC, ensuring Finance's oversight function's role to ensure controls are properly documented, monitored and tested in line with Program Tempo requirements. Control Activities: Review controls and testing for design and operating effectiveness, identify any control deficiencies and monitor timely implementation of remediation plans. Operational Risk Management: Monitor the completion of incident reports, Risk and controls self-assessments and change initiative risk assessments. Ensure that CIBC London and Luxembourg documents and assesses the effectiveness of its RCM controls. Relationship Management: Primary relationship manager with key stakeholders across Europe including: Internal Audit, Risk Management, Compliance, external auditors and the Business. Team Support: Maintain a collaborative work environment and support team members to resolve organizational, operational, and process problems. Regulatory Compliance Monitoring (RCM) Activities: ensuring Effectiveness templates are completed by collaborating with key stakeholders in Europe and APAC and incorporating any feedback and comments regarding the same from the RCM Programme Management (PM) team. Assume oversight of regional SOX Officer who is accountable for ensuring SOX testing, documentation and reporting requirements are met.
• General: Participate in projects and initiatives as they arise, as directed by ED, Head of External Reporting. Provide regional CFO and Head of Europe with ad hoc information requirements as required. Provide support as required to CFO and Head of External Reporting and work closely with them as part of continued career development and succession planning.

Skills / Knowledge Required

• Accountant with at least 10 years experience of working within Investment Banking.
• Excellent people management skills.
• Strong Excel skills; Pivot tables, lookup functions and other data manipulation functions - Essential.
• Good analytical ability.
• Excellent written and verbal communication skills.
• Self-motivated and taking initiative under limited supervision.
• Ability to work under pressure and to tight deadlines.
• Ability to analyse processes and recommend improvements.
• Ability to question and challenge current working procedures with a view to being creative and proactive to enhance and maintain controls and reporting requirements both current and future - Essential.
• Ability to evaluate and influence new proposals.
• Experience of Essbase and Corporate General Ledger experience - Highly desired.

CIBC is committed to creating an inclusive environment where all team members and clients feel like they belong. We seek applicants with a wide range of abilities and we provide an accessible candidate experience. If you need accommodation, please contact Mailbox.careers-carrieres@cibc.com. You need to be legally eligible to work at the location(s) specified above and, where applicable, must have a valid work or study permit.

Job Location: 150 Cheapside, London, UK. Employment Type: Regular. Weekly Hours: 35.

Skills: Accounting, Communication, Deliverables Management, Finance, Financial Analysis, Financial Consulting, Financial Reporting and Analysis, Governance Reporting, Internal Auditing, People Management, Preparation of Financial Reports, Regulatory Compliance, Regulatory Requirements, Risk Assessments, Risk Management.