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Local Regulatory Reporting AccountantApply Now Locations: Sydney, New South Wales Job Function: Finance Employee Status: Regular Job ID: 20199669
This is a Team Member role in the Bank Chain part of the Financial Control Local Regulatory Reporting (LRR) team.
The LRR team is responsible for preparation and submission of most Local Regulatory Reports (LRRs), and local (IFRS) financial statements, to the Australian and New Zealand regulatory authorities, e.g. APRA, ASX, ASIC, RBA, ABS, RBNZ and NZCO.
The team of experienced regulatory reporting accountants and managers cover ~200 types of LRRs (1,300+ submissions and monitoring activities per year) across five main operating entities, and certain reporting for ancillary entities. These are distinguished between Broker-Dealer (CGM), and Bank Chain activities (comprising Institutional Clients (“ICG”) and Consumer (“GCB”)). Most activities are conducted in separate entities with individual reporting requirements.
This team also includes a Specialised Accounting function, overseeing LRR administration and compliance with global policies, LRR developments, financial reporting developments, local external audit coordination, accounting policy matters, assessing M&A activity, and several securitisation trusts used for funding purposes.
The main Bank Chain operating entities are Citigroup Pty Ltd (CPL), Citibank NA Sydney Branch (CBNA), Citibank NA New Zealand Branch (CBNZ) and Diners Club Pty Ltd (Diners). The Broker-Dealer operating entity is Citigroup Australia Global Markets (CGMA).
This role prepares and submits a range of Bank Chain LRRs across the above entities, timely and accurately, in accordance with all relevant local regulatory reporting requirements. It also implements changes to LRRs as required by regulators, and administers compliance with internal policies.
Examples of Bank Chain LRRs include the ARF 720 series and other “EFS” returns, ARF 330, ARF 117, ARF 118, International Exposures, ABS Form 90, and daily monitoring of large exposures.
- Implementation of EFS and other regulatory reports onto Citi’s reporting platforms (RegInsight).
- Supporting Financial reporting infrastructure projects from Local Regulatory Reporting perspective (ie. Migration to FullSuite, RegInsight, adoption of digital tools such as Knime, PowerBI, etc).
- Preparation of daily, monthly, quarterly and annual returns to Australian and NZ regulators, timely, in accordance with internal and external requirements, including Internal Audit
- Analysis of returns to ensure all relevant variances are fully explained
- Involvement in regulatory projects and other key financial initiatives as required
- Monitor changes in regulatory and financial reporting guidelines and regulations
- Assistance in preparing audited annual financial statements for local operating entities
- Continuous improvement of processes, procedures and documentation
- LRR administration and coordination, including LRRGC committee and regional reporting
- Coordination of local external audit planning, execution, and delivery
- Assessment of accounting policy, US GAAP / IFRS differences, M&A activity and capital
- Review of activities of securitisation trusts used for funding purposes
- Review of regulatory, financial, and other reporting for securitisation trusts (e.g. mortgages, credit cards)
KEY COMPETENCIES / SKILLS /EXPERIENCE
- Strong background in Banking and Financial Services
- Sound experience in Regulatory Reporting, esp. APRA Prudential Standards / Reporting Forms
- Strong stakeholder management skills
- Strong ability to meet tight deadlines, and manage time and conflicting priorities
- Strong ability to work both independently, and as an active contributor to teams
- High attention to detail and strong ability to work under pressure
- Flexible, motivated and enthusiastic approach
- Excellent written and verbal communication skills
- Ability to learn new financial systems quickly
- Strong Excel skills
- Commerce / Business Degree (e.g. major in accounting or finance)
- Qualified CA/ CPA with minimum 3+ years PQE experience highly regarded
This job description provides a high-level review of the types of work performed. Other job-related duties may be assigned as required.
------------------------------------------------------Time Type :
Citi is an equal opportunity and affirmative action employer.
Minority/Female/Veteran/Individuals with Disabilities/Sexual Orientation/Gender Identity.
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