Worldwide, BNP Paribas has a presence in 73 markets with more than 196,000 employees. It has key positions in its three main activities: Domestic Markets and International Financial Services (whose retail-banking networks and financial services are covered by Retail Banking & Services) and Corporate & Institutional Banking, which serves two client franchises: corporate clients and institutional investors. Asia Pacific is a key strategic region for BNP Paribas and it continues to develop its franchise in the region.
BNP Paribas offers you an exciting career in an international business environment that is fast-paced, diverse and focuses on creating high-value relationships with our clients. We offer competitive salary and benefits, as well as a working environment where you’re valued as part of the team.
* excluding partnerships
The CFO is primary responsible for the coordination of the accounting closing, together with local stakeholders and the Finance Regional Platform, and for the preparation of statutory accounts and local regulatory reporting. In this role, he acts as main contact point of the new entity regarding all Finance-related topics and contributes to the strategic development of the local activities in full compliance with accounting standards, local regulations and internal control requirements.
The CFO is required to have a good understanding of the business dynamics of the entity that he supervises in order to analyze profitability trends, manage upcoming accounting requirements and give pro-active advice and opinions as a member of the Management Team of the entity.
Accounting Production, Reporting and Control
• Ensure accuracy of financial reporting and compliance with accounting norms (IFRS/local GAAP) and industry best practices
• Ensure compliance with both local and Group legislations and regulations, notably for Accounting, Tax and Legal areas: local laws, tax requirements and regulations and Group regulations defined in policies, procedures, rules and standards (including those issued by Business Lines and Functions), with a particular focus on those relating to Accounting and Permanent Control
• Contribute to the proper organization of the closing process together with the Regional Platform teams by pro-active management of any significant accounting events such as : (i) Changes capital structure and scope of consolidation, (ii) Significant changes in scope of activity or internal organization, (iii) Major accounting issues impacting on the closing process and the financial reporting, (iv) Cost of risk movements, (v) Control issues with potential impact on the organization of the closing and the quality of accounting data reported to the management, (vi) material changes in allocation issues impacting Performance Management reporting, (vii) Tax-related issues, (viii) Other issues
• Create an environment which guarantees security, integrity and timeliness of the accounting process and regulatory, statutory and internal reporting. This is achieved by ensuring that (i) 1st level controls which fall under the responsibility of the local finance team are properly implemented, (ii) the outcome of 1st and 2nd level accounting controls is reviewed on a monthly basis to determine if corrective actions are required
• Establish and maintain a consistent and auditable environment
• Ensure that accurate procedures (controls, expenses…) exist when appropriate and are maintained
• Ensure the right coordination with the Regional Finance Platform on all significant accounting issues
• Work closely with the Tax department and manage Tax risk related to production tasks (computation & payments) such as preparation of Tax reporting, Transfer Pricing etc., in coordination when appropriate with the Tax department
• Identify potential dysfunctions and report any events or occurrences likely to have a negative impact on the accounting processes, results or the Group’s reputation to the business units, COO and the Head of Territory.
• Ensure payments and reimbursements are made in accordance with bank’s policy and related regulation.
• Ensure that expenses are booked in the accurate ledger at the accurate amount in the correct period and cost center
• Provide the Entity / Territory Management with the means to make informed business decisions to effectively achieve their strategic goals
• Ensure that all key financial information used locally or shared with local regulators is fully in line with official Performance Management reports and follows the official Business Line organization of the CIB APAC Region (i.e. no local nomenclature or site-specific analytical mechanism authorized).
• Act as main contact point for the Entity/Territory Management regarding all Finance-related topics in particular in order to facilitate interactions with the Regional Finance Platform and the analysis of the entity performance.
• Support the forecast and budgeting exercise of local teams.
Participation in local Management Committees
• Participate as necessary in different business committees like the ALCO, Audit Committee, Board, etc. Contribute to the preparation of financial information presented to these committees.
System & Projects
• Ensure that decisions impacting the local accounting framework are done in liaison with the Regional Platform to fully adhere with accounting principles and the Finance roadmap
• Contribute to the preparation of Finance comments to TAC-NAC so that local booking and reporting requirements are correctly captured
• Coordinate the organization of the statutory audit process in liaison with the Regional Finance Platform
• Ensure that any increase in audit fees has been subject to adequate review and justification before ultimate validation by the Regional Finance Platform and Group Finance
• Organize with the Regional Finance Platform the pre-approval of any non-audit service provided by one of the Group auditors to the entity
• Ensure proper follow up of audit findings and recommendations issued to Finance.
Team & resources management
• Manage the local Finance team through efficient planning and proper control of resources in order to optimize productivity and reduce costs, and more specifically:
• Create an environment which guarantees security and efficiency of the accounting process
• Ensuring the correct balance of the organizational structure as automation and outsourcing progress, maintaining at all times the expected levels of effective control
• Provide an acceptable quality of service for external and internal users
• Plan back up arrangements
• Contribute to the preparation of the Finance budget which falls under the ultimate responsibility of the Regional CFO.
Permanent Control Aspects
• Direct contribute to the Permanent Control framework
• Responsible for the implementation of operational permanent control policies and procedures in day-to-day business activities, such as Control Plan
• Responsible for ensuring team members to comply with regulatory requirements and internal guidelines
• Responsible for reporting all incidents according to the Incident Management System
• Responsible for ensuring job descriptions are written, distributed and updated
• Ensure audit recommendations are resolved within the specific timeline
Core Competencies required for the role (Technical / Behavioural)
• Registered with CSRC as a senior management staff for 2 years or more; and actively working in the local securities industy is a must;
• A robust understanding of the Chinese Securities industry;
• In-depth knowledge of financial markets (settlement rules and regulations), financial instruments valuation and accounting standards related to securities activity
• Strong leadership qualities, business and solution oriented, forward-looking approach;
• Good communicator (oral and written) especially of technical issues to non-specialist;
• Excellent presentation skills;
• Able to organise, coach and motivate others;
• Ability to work with all levels of management and across business units and functions;
• Creative problem solving skills, good decision making based on quantitative and qualitative analysis;
• Language skills: Fluent Mandarin & English (oral and written skills);
• PRC National is preferred.