Finance Operations Lead – Neobank

Job Category: Finance & Legal
Job Type: Permanent
Date posted: 26 Oct 2021
Application expiry: 28 Feb 2022

The scope for Finance department is to ensure the setup of finance systems and underlying infrastructure to ensure correct and accurate reflection of the Neobank’s financial position and manage internal and external (regulatory) reporting and most importantly enable business in execution of transactions covering all geographies (starting from Singapore and others as it expands)

 

Key Responsibilities

Financial Operating Model

  • Operating model defined covering accounting policies, reconciliations, allocation rules and processes facilitating monthly, quarterly and yearly reporting
  • Processes around data maintenance of cost centres and GL accounts defined and implemented
  • MIS framework for monitoring business performance defined
  • System interfaces and configurations defined and implemented
  • Support in defining performance metrics, automated reporting and gathering MVP2 requirements

 

Financials System Setup

  • Deliver the setup of finance systems and underlying infrastructure, mapping of products to systems to ensure correct and accurate reflection of the Neobank’s financial position
  • Facilitate set up of Finance systems specifications, with a scale independent process capable of handling large volumes and replication in other geographies
  • Finance BRD document to be signed off by all stakeholders

 

Regulatory Reporting

  • Inventory of returns that the Neobank would need to file to be compiled and calendar of submission to be created
  • Day 1 regulatory reporting to be manually controlled
  • Process for managing regulatory returns defined, returns (incl. recon) being tested as part of UAT
  • Finance to facilitate consolidation and submission of Neobank regulatory returns based on inputs from streams
  • Interim support to be sought from external accounting firms to cover financial & regulatory reporting

 

Tax & Compliance

  • Tax review completed and key tax risks to be identified and business to be appraised of the same
  • Tax rates communicated to IT for incorporation in the system
  • Process for managing all tax compliances and tax compliance calendar to be created
  • Tax implications on transfer pricing to be conducted and risks to be identified and to be agreed with all stakeholders

 

Production readiness

  • Static data for production to be validated as part of UAT
  • All accounts and other data to be migrated to production

 

Team setup

  • Build a team in the phased approach mapped to growth with clear SMART goals

 

Requirement:

  • Degree in Accountancy, preferably with professional accounting certificates
  • Minimum 8-10 years of experience as finance manager in the financial sector
  • Good understanding of local regulatory reporting requirements
  • Strong analytical and problem solving skills
  • Meticulous and strong attention to detail
  • Supervisory experience will be considered
  • Good command of English
  • Ability to engage stakeholders

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