Posted on :
26 Jul, 2016
26 Jul, 2016
Standard Chartered Bank was formed in 1969 through the merger of two separate banks, the Standard Bank of British South Africa and the Chartered Bank of India, Australia and China.
These banks had capitalised on the expansion of trade between Europe, Asia and Africa.
The Chartered Bank was founded by James Wilson following the grant of a Royal Charter by Queen Victoria in 1853.
The bank opened in Mumbai (Bombay), Kolkata and Shanghai in 1858, followed by Hong Kong and Singapore in 1859.
The traditional trade was in cotton from Mumbai, indigo and tea from Kolkata, rice from Burma, sugar from Java, tobacco from Sumatra, hemp from Manila and silk from Yokohama.
The bank played a major role in the development of trade with the East following the opening of the Suez Canal in 1869 and the extension of the telegraph to China in 1871.
In 1957 Chartered Bank bought the Eastern Bank, together with the Ionian Bank’s Cyprus Branches and established a presence in the Gulf.
Job Title: Chief Finance Officer
To apply insight and understanding to the financial performance of the Bank and to contribute to the strategic and day to day commercial decision making process.
– To ensure that all matters relating to financial accounting, management accounting, taxation, balance sheet and capital structure management, market risk analysis and management and regulatory reporting are undertaken in accordance with Generally Accepted Accounting Principles, the Group’s accounting policies and other regulatory guidelines.
– Provide guidance to local Supply Chain Management (SCM) and property functions
– To ensure that the finance Hub delivers in accordance with the service level agreement.
Key Roles and Responsibilities
The ideal candidate will contribute to the management of the business as a member of the top management team.
– To provide the financial input for the formulation of the bank’s Strategic Plan.
– Initiate and co-ordinate the formulation of the annual operating plans and budgets and monitor progress towards their achievement, drawing attention to important trends, and to opportunities to maximise income, reduce cost and minimise risk.
– Ensure that the financial statements and returns prepared by the Hub are in accordance with statutory, regulatory and other requirements, and in accordance with group standards, procedures and timetables.
– Provide support to the Business Unit/Segment heads in the formulation of marketing plans, budgets, business development, product development and the analysis of the operational business trends for the achievement of overall plans and objectives.
– Liaise with Hub Manager in development and running the Bank’s financial and management information systems, recommending agreed variations for local use where relevant and necessary for implementation by Hub Manager.
– Ensure the effective management of the business’s capital and balance sheet structures including funding, liquidity, currency and market risks etc;
– Evaluate local projects in accordance with Group guidelines, including material business issues (e.g. pricing, the acquisition or disposal of investments and assets) and contribute fully to their implementation. Conduct health check and post implementation reviews.
– Ensure that the taxation affairs of the Bank are planned and managed so as to optimise the Group’s position.
– Maintain the highest professional financial management standards in the Bank.
– Analysis and sign-off any project approval requests.
– Improve the understanding of financial management issues by Business Unit/Segment Heads, Financial Managers and other Senior Managers within the Business.
– Monitor the operational and capital expenditure programmes to ensure adherence to budgeted limits.
– Strategically manage the sourcing and properties of the Bank to ensure efficiency in procurement and utilisation.
– Lead, motivate, and develop staff in the Finance Division.
– Support the Chief Executive Officer (CEO) in interpreting, communicating and meeting local regulatory requirements.
– Keep in touch with local, UK and international accounting developments through membership of professional bodies and contact with other members of the profession.
– Manage relationship with External Auditors including the negotiation of the scope of the audit, general liaison, the clearance of audit work and responding to and following up management letters.
– Monitor and decide on Service Level Agreements (SLAs) with the hub; agree the recharge methodology.
– Contribute in the management of the Bank’s Assets and Liabilities and the management of risk during Management Committees (ALCO , CORG and Board meetings)
– To ensure that Finance Staff comply with applicable Group Control Standards and Local Regulatory Standards.
– To provide strategic guidance to the property management and Sourcing functions
Key Relationships (Internal and External)
– Local Exco Members
– Regional Management Team
– Group Market Risk
– Group Corporate Tax & Treasury