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Sr. Financial Risk & Controls Mgr. - EMEA

Employer
Silicon Valley Bank
Location
London, United Kingdom
Salary
Competitive Salary
Closing date
Oct 21, 2020

View more

Job Role
Risk Manager
Sector
Finance
Contract Type
Permanent
Hours
Full Time

The EMEA Finance team aims to be a strategic partner and advisor in achieving Silicon Valley Bank's overall mission to increase our clients probability of success, supporting all of the Management information ("MI"), business analysis, financial reporting, Financial Control, Treasury and Tax activity for the EMEA division of SVB. This will be done by:

• Delivering insights to support decision making, drive performance and set strategy and;

• Establishing a strong control environment to meet our obligations, protect our business and deliver smart, safe growth.

Due to the exceptional growth experienced and increasing complexity within the UK business, we are looking to hire a talented Financial Risk and Controls manager to enhance oversight and strengthen controls in financial reporting, whether that is operational areas and processes that could impact financial integrity or losses or Finance's own processes and econtrols. This must be done in a scalable, sustainable and efficient way to accommodate and enable future growth.

This role will ensure sound governance, oversight and execution of the financial and operational risks and controls as part of our Sarbanes Oxley (SOX) program, including key operational, regulatory and compliance related controls within the Finance Department, as well as supporting operational areas that could impact financial intergrity. The role will be responsible for managing all SOX and operational controls related design, implementation, documentation and self-testing to ensure we meet the requirements for the Company's SOX program as well as detect and prevent noncompliance with policies and procedures in advance of internal and external audits. This highly visible position will work closely with the related business management, business risk, compliance and SOX teams to ensure transparency and understanding of financial reporting and operational issues, opportunities, and the environment both for now and as we experience change from internal factors, such as growth and new business lines, and external factors, such as new regulations and industry expectations.

All of this will help the EMEA Finance team to fulfill their internal and external regulatory and control related responsibilities, including under the Senior Manager Regime.

In this role, you will report to the EMEA CFO and/or UK subsidiary Controller, as well as the Financial Risks and Controls team globally and this is a visible role that will work closely with the broader Finance team, as well as Compliance, Business Risk, Operations, Internal and External Audit teams. Coverage includes the current UK branch (currently undergoing the process to transform into a UK subsidiary), a German branch and other smaller entities as well as supporting our ambitious expansion plans within Europe. We intend to leverage the global tools, teams, processes and systems as much as possible and the role holder will play a leadership and coordination role in both the Global Accounting and controls and Regional Finance and business teams.


There will also be a role to play in the subsidiary build process, working with global and regional colleagues to put the appropriate tools, processes and controls in place to support the requirements of an expanded business and enhanced accounting, governance and control requirements, including establishing and supporting a board audit committee, IFRS reporting and separate audit.




RESPONSIBILITIES:

You will oversee and / or play a key role in:

• Establishing and embedding Financial Control Strategy- Collaborate with management to develop key business control strategies and controls to mitigate related risks. Exercise judgment and influence, and if needed, assist management on the development, implementation and monitoring of strategies, policies, processes and controls to reduce risk and ensure legal and regulatory compliance. Keep control documentation updated to reflect current operating environment and perform self-testing to confirm control effectiveness.

• Risk Identification and Escalation- Highlight control breakdowns, inadequate processes, and unexpected events and implement corrective actions quickly to address process and control deficiencies. Facilitate the timely remediation of control deficiencies and process improvements by working closely with the business to verify design, timing, and expectations are aligned and met.

• Risk Assessment- Assess, measure, and monitor the governance and risk profile, including determination of real vs perceived risk and inherent vs control risk. Maintain a complete and current inventory of all the material processes and functions, with the associated key risks and their thresholds. Participate and provide guidance for new initiatives and product expansions, including determination of mitigating controls.

• Risk Reporting- Manage, communicate and provide periodic reporting and metrics to management and Control functions on the mission, strategies, and key issues of the risk governance framework. Proactively manage and promote effective communication with internal groups (management and legal), including second (SOX, Compliance and RM) and third lines of defense (Internal Audit), and external auditors. This includes providing control documentation, testing support, and answering related questions timely.

• Continuous improvement- Stay abreast and knowledgeable of the related regulatory, industry and compliance requirements in which the department must meet in order to satisfy our regulators and anticipate industry trends or changes. Analyze complex regulatory and industry requirements and the "right size" application of those requirements. Ensure all pertinent regulatory and rule changes are incorporated timely and educate the broader EMEA organization on control culture, processes, best practices and changes.

You will work as part of a small team of finance professionals based in the UK and provide leadership to and collaborate with a number of teams across the globe to drive controllership and the SOX program in EMEA. This will mean building strong relationships with individuals at a variety of levels and across multiple teams and time-zones in a matrix management structure.

SOX specific requirements:

• Perform annual risk assessment for identifying significant accounts and risks for reporting; done independently and then validated with 2nd line (SOX)

• Coordinate, update and maintain all internal control related artifacts including process / control specific narratives, flow charts and risk and control matrices

• Provide changes to controls if underlying processes have changed or new items / risks added and work with 2nd line (SOX) to ensure effective controls design and risk mitigation is obtained

• Create / manage quarterly program of self-testing / certification to support the business units quarterly certification under Section 302 of SOX

• Establish / manage ongoing program of procedure documentation and training within the department related to SOX and internal control processes / activities

• Manage program specific to controls including coordinating walkthroughs, participating in walkthroughs, overseeing testing requests, and ensuring adequate integrity, completeness and accuracy of data provided to downstream stakeholders (Management Review Control checklists, Information Produced by the Entity controls and checklists, IT Automated Control changes, etc.)

• Monitor and manage all Entity Level Controls within the department

• Lead the effort to document deficiency assessments which include the root cause, impact or severity of issue found, developing lookback reviews, and ensuring action plan mitigates the risk appropriately

• Mange and facili
tate audit coordination with all external and internal audit related matters including quality and delivery of audit schedules, follow up questions and resolution, etc.

• Facilitate and manage all SOC 1 reports applicable to the business

• Provide overall governance, dashboard reporting, tracking against deliverables, and issue escalation timely



• Proven Controller, Internal or External Auditor or Risk & Controls specialist with knowledge and experience of Sarbanes-Oxley for Financial Reporting

• Experience of defining, embedding and managing strong control frameworks, processes and culture and skilled at working with Control teams, internal and external auditors

• Strong technical knowledge of IFRS accounting, ideally US GAAP and the UK financial services regulatory requirements

• A good level of understanding of the UK commercial banking environment and product set and an ability to quickly gain a thorough knowledge of SVB's bank operations and products

• Curious with exceptional analytical and critical thinking skills

• Brilliant communication skills with an ability to build strong relationships, influence, engage, challenge and explain the complex and simple to mobilise diverse groups to take actions and solve complex problems in a sustainable and scalable way

• Resourceful, collaborative, disciplined and able to operate independently to lead and support multiple projects across a number of areas in a fast paced environment

• Chartered Accountancy qualification or equivalent education

• Passionate about continuing to learn and improve.




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