The position is within Financial Accounting Financing Activities and Taxes department for EMEA located in Madrid, under the supervision of the department management.
Mission and Objectives
He / she will perform tasks allocated mainly to the Financing Activities and Taxes, where MSFC provides services for the Corporate and Institutional Banking and BP2S entities.
Financial Accountants will be involved in the day-to-day maintenance and control of the general ledgers for the entities under their responsibility generated by the Financing Activities identified as follows : loans, deposits and guarantees and Taxes .
When applicable, they coordinate review and potential adjustments with other teams. Additionally, they will have to ensure quality of data for all Reporting streams and be in charge of performing adjustments when needed in the General ledger.
Accounting & Control Functions
He / she will be in charge of the following finance functions :
Perform daily and month-end financial closing for their entities and prepare the Financial reporting to the Group
Prepare and book daily / monthly entries as necessary
Review ledgers and perform account and transaction analysis
Analyze, reconcile, and review all accounts under their responsibility by performing variance analysis, highlighting trends, and following up on questions / concerns
Analyze all the transit accounts of the entities under their scope in order to identify overdue pending items and calculate the transitory provision according to Group procedure
Provide assistance in coordination with the management in responding to questions from the external auditors, Operations, and other support groups by :
Ensuring prompt resolution and follow-up of questions / requests for information
Escalating problems / issues to the head
Providing quality service to other teams
Prepare budget and Forecast process related to the Financing activities
Transform the accounting data into management accounting (profitability and cost allocation by Business Line) following the MARP (Management Accounting Rules and Principles)
Perform the P&L and cost of funding reconciliation processes in compliance with Group and CIB Finance standards
Act as the first level of review to ensure accuracy, completeness, and validity by reviewing and approving all related to Financing Activities and Taxes :
The operational processing of revenues and Cost of Risk
Reconciliations of account balances (e.g. transit and suspensory accounts related to financing activities and taxes)
Reconciliations between systems / with Head Office (e.g. reconciliation of management reporting of provisions with approvals from Paris Risk Department)
The reports generated by the management accounting activity (e.g. Flash reports, reporting of customer-level profitability)
Justification of the balance and off-balance accounts allocated to the department related to the Corporate banking products (e.
g. : transfer pricing, CoR accounts, etc.)
Review the accuracy of the Corporate Income Tax calculated by the sites, assuring the correct booking of the entries associated to this calculation
Reconciliation between Atlas2 / Midas and OFS in all related to financing activities and taxes
Projects, Systems Support, Operational Process Improvements
Participate in the upgrades / version releases of respective reporting tools, as well as system amendments / enhancements required to facilitate new / modified reporting requirements.
In connection with this effort, assist in user acceptance testing and trouble-shooting after deployment
Assist in identifying operational process improvements in production, control procedures, and workflow organization to increase the team's efficiency and effectiveness.
Also assist in integrating and streamlining the reports under the team's responsibility
Observe the bank's policies and procedures
Provide reporting coverage by :
Learning the reports, tasks and requirements of the person they are backing up
Training his / her back-up on the preparation of the reports and tasks under his responsibility
Participate in staff development and evaluation, as well as staffing operational process (recruiting, hiring, and training).
Help ensure that staff's skills and competencies can support reporting requirements
Assist in any special project or request as directed by management
Training and occupational experience
Accounting degree or equivalent
Minimum 1-2 years of financial and / or management accounting experience, preferably within Financial Services Industries
Basic Corporate Banking product focus on loans, deposits, guarantees and taxes desirable
Knowledge about the Corporate Income tax calculation and its accounting impact a plus
English speaking is mandatory
Essential specific requirements
Working knowledge and understanding of generally accepted accounting principles, both in IFRS and French GAAP (an asset)
Speaking French and other local languages a plus
Skills and behaviours
Effective analytical, organizational, and problem-solving skills
Strong communication skills, both written and verbal
Self-starter and team player, able to work independently and collaboratively with various teams in a deadline-focused environment