VP, Specialist, Financial Reporting & Accounting, DBS Australia (Sydney)

Job details
Job type
Full-time
 
Location
Australia
 
Full job description
About DBS Australia
DBS Bank Ltd opened its Australia Branch in Sydney in June 2015 and has been steadily growing since this time. DBS Bank Ltd, Australia Branch (DBS Australia) is regulated by Australian Prudential Regulation Authority (APRA), Australian Securities and Investments Commission (ASIC) and Australian Transaction Reports and Analysis Centre (AUSTRAC). The branch offers a wide range of products and services to wholesale clients through our frontline teams in Institutional Banking Group, Global Transaction Services, Treasury & Markets, and Project Finance. All the teams work closely together to ensure a quality service is enjoyed by our clients.

The frontline teams of DBS Australia are supported by dedicated Technology & Operations, Finance, Risk Management Group, Legal & Compliance, and Human Resources teams in Australia

Job Purpose
Responsible for maintaining integrity of the financial and tax records for DBS Bank Ltd, Australia Branch.
Ensures appropriate control environment is implemented and maintained for the provision of accurate and timely information to internal and external stakeholders including regulators, head office, tax authorities, auditors and local Branch management.
To assist Financial Controller with training and development of the local finance team, while maintaining hands on approach with the team and act as delegation for Financial controller during leave coverage.
Job Duties & responsibilities

Financial & Regulatory Reporting
Ensure that financial records of the Branch are maintained accurately in accordance with Australian Accounting Standard and DBS Group’s accounting policies which meet regulatory requirements.
Responsible for Financial, Regulatory, Head Office Reporting
Establish processes that have the appropriate financial controls and tracking of the Branch’s Key Risk Indicators and Key Obligations Register and RCSA/UMDA assessment etc.
Provide financial information, accounting and regulatory advice and support to the local Branch and Head Office Management to enable sound financial decisions.
Ensure integrity of the General Ledger, Trial Balance, journal entries, reconciliation processes and control environment. GLAO reconciliation undertaken on a timely basis.
Ensure appropriate expense accruals and manage accounts payable to ensure compliance with the Group’s Delegation of Authority.
Effective assessment of changes in accounting and valuation landscape and assessing impact on Group Policies.
Responsible for compliance with local and Group Finance related policies. Responsible for the review and updating of local policies, accounting treatment and operating procedures for the finance function.
Responsible to train team members to enable finance processes and to support accurate and timely submission of Branch financials.
Monitor and manage foreign currency profit & loss exposure to comply with DBS Group Standards.
Escalation of financial control, regulatory report or control issues to Financial Controller/Head of Finance and local Branch Management. Timely recording and escalation of issues and incidents.
Tax Compliance
Ensure the compliance with Australian Tax obligations including preparing accurate and timely calculations, returns and remittances.
Corporate Income Tax Instalments, Goods & Services Tax (GST), Interest Withholding Tax (WHT), quarterly Business Activity Statements (BAS) and annual Corporate Income Tax Return (ITR), Transfer Pricing Review, Country by Country reporting.
Co-ordination of information required for preparation and lodgement of tax returns by external tax agents and sign off with Public Officer.
Ensure accurate calculation of Taxable Income, Deferred Tax Asset/ Liability and Income Tax Provision.
Documentation of policies and procedures, internal controls for Tax Governance purposes.
Provide updates or escalation of tax related matters and issues to Head of Finance, Public Officer and local committees.
Work with external tax advisors to provide support in managing tax affairs.
Attend AFMA Tax forums to keep up to date with current developments.
People
Training & development of the Finance Team to enable robust, efficient and sustainable finance controls and processes for accurate and timely submission of Branch financial information.
Manage deliverables and self development for productivity improvement and as back up for the team.
Improve/maintain high employee engagement levels.
Stakeholder Management
Maintain close engagement with key stakeholders including Local Branch Management, regional Finance and Risk colleagues.
Summarise and present finance and tax technical related matters in sufficient form and simplified content to enable understanding.
Auditors, Regulators & Tax Authorities
Ensure information or data required by auditors, regulators, or tax authorities are accurate, complete, and meets the specific requirements.
Preparation of financial information for APRA/ASIC/ATO periodic update meetings or inspections/ reviews.
Change Management
Assist the team to support any system changes or enhancements to enable proper financial reporting.
Identify opportunities to improve existing processes and automation.
Keep abreast of changes in the financial regulations and legislation and advising impact to the Branch’s financial system and processes.
Adhoc
Any other assignment or tasks given by Financial Controller/Head of Finance, Head Office Finance and Country Manager.
Experience

Minimum 10+ years’ experience Financial Control, Regulatory Reporting roles within Banking and Financial Services
ADI or foreign ADI experience required.
Experience with APRA prudential compliance and reporting required.
Experience in Australian Corporate Income Tax, Goods and Services Tax, Transfer Pricing and Withholding Tax essential.
Experience of staff management a team required.
Experience in leading change/ analytics initiatives.
Minimum Bachelor’s degree in Business, Accounting, Finance, Economics
MBA or Chartered Accountant/ CPA
 
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