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Financial Accountant – Cost Accounting


The position is within Financial Accounting – Cost Accounting department for EMEA located in Madrid, under the supervision of the department management.

Mission and Objectives

He/she will perform tasks allocated to the different Banking activities related to cost accounting activities, where MSFC provides services for the Corporate and Institutional Banking and BP2S entities.

Financial Accountants will be involved in the day-to-day maintenance and control of the general ledgers for the entities under their responsibility. When applicable, they coordinate review and potential adjustments with other teams. Additionally, they will have to ensure quality of data for all Reporting streams and be in charge of performing adjustments when needed in the General ledger.

Additionally, he/she will assure the correct allocation of the general expenses to the corresponding cost centers and will be involved in the process of the allocation of the general expenses in the budgetary process.


Main responsibilities


Accounting & Control Functions

  • He/she will be in charge of the following finance functions:

  • Supervising and reviewing the collection, processing and reporting of general expenses, accruals and provision

  • Prepare and book daily/monthly entries as necessary

  • Prepare budget and Forecast process

  • Overseeing the monthly, quarterly, and annual closings of the general ledger for all the tools related to cost accounting (mainly AP and SAP)

  • Providing support to the Fronting teams in the cost accounting side, as well as to other teams within Finance

  • Account payable monthly closing and posting information

  • Assist other departments in invoice processing

  • Coordinate with local finance and tax departments the correct booking of the VAT and withholding tax depending on each local tax requirements

  • Make sure that the data reported to Central Team and the Regional Fronting (PM) generated by the cost accounting is accurate

  • Assure the correct  implementation of the policy on vendor database management

  • Homogenized SAP chart of accounts among all the countries

  • Analyze, reconcile, and review all accounts under their responsibility by performing variance analysis, highlighting trends, and following up on questions/ concerns

  • Analyze all the transit accounts of the entities under their scope in order to identify overdue pending items and calculate the transitory provision according to Group procedure

  • Provide assistance in responding to questions from the external auditors, Operations, and other support groups by:

    • Ensuring prompt resolution and follow-up of questions / requests for information

    • Escalating problems / issues to the head

    • Providing quality service to other teams

  • Act as the first level of review to ensure accuracy, completeness, and validity by reviewing and approving all related to cost accounting:

  • Reconciliations of account balances (e.g. transit and suspensory accounts related to cost accounting)

  • The correct allocation of cost centers to general expenses

  • Justification of the balance allocated to the department related to cost accounting activity (e.g. accruals, provision, transitory account, etc.)

  • Reconciliation between SAP and the accounting tools, making sure that all the significant gaps are properly identified, explained and followed up

  • Implement analytical reviews over the accrual and provisions accounts, requesting supporting documentation over the significant variations

  • Assure that the EMEA Corporate spending limits are implemented and respected by all the stakeholders

  • Perform controls over the fixed assets process, making sure that the group procedures over these assets is properly implemented

  • Analyzed deviations between budgets and forecasts for the general expenses, obtaining supporting documentation over significant deviations

  • Review the implementation of controls over the invoice payment process

  • Reconciliation between IBEN (HR’s pension plan tool) and accounting related to pension plans commitments

  • Implement transactional accounting schemes and operational processes related to cost accounting

  • Contribute to the BNPP operational permanent control framework

  • Ensure the completeness and accuracy of feeds from the operating systems (all the systems that managed financing activities) to the general ledger through a second-level review of the reconciliation reports (e.g. SAP…)

Projects, Systems Support, Operational Process Improvements

  • Participate in the upgrades/version releases of respective reporting tools, as well as system amendments/enhancements required to facilitate new/modified reporting requirements. In connection with this effort, assist in user acceptance testing and trouble-shooting after deployment

  • Assist in identifying operational process improvements in production, control procedures, and workflow organization to increase the team’s efficiency and effectiveness. Also assist in integrating and streamlining the reports under the team’s responsibility


Other functions

  • Observe the bank’s policies and procedures

  • Provide reporting coverage by:

    • Learning the reports, tasks and requirements of the person they are backing up

    • Training his/her back-up on the preparation of the reports and tasks under his responsibility

  • Participate in staff development and evaluation, as well as staffing operational process (recruiting, hiring, and training). Help ensure that staff’s skills and competencies can support reporting requirements

  • Assist in any special project or request as directed by management


Training and occupational experience

  • Accounting degree or equivalent

  • Minimum 1-2 years of financial and/or management accounting experience, preferably within Financial Services Industries

  • Basic Corporate Banking product and cost accounting knowledge desirable

  • English speaking is mandatory


Essential specific requirements

  • Working knowledge and understanding of generally accepted accounting principles, both in IFRS and French GAAP (an asset) as well as regulatory and tax accounting rules and regulations

  • Speaking French and other local languages a plus

  • Excellent Excel skills (including pivot tables, VLOOKUP, SUMIF)
  • Must have ERP AP system experience

  • Must have SAP knowledge

  • Ability to learn new systems and products quickly

Skills and behaviours

  • Effective analytical, organizational, and problem-solving skills

  • Strong communication skills, both written and verbal

  • Self-starter and team player, able to work independently and collaboratively with various teams in a deadline-focused environment

Primary Location: ES-Community of MadridJob Type: Standard / PermanentJob: FINANCE ACCOUNTS ET MANAGEMENT CONTROLEducation Level: Not indicatedExperience Level: Not IndicatedSchedule: Full-time Behavioural competency: Ability to collaborate / Teamwork, Decision Making, Ability to synthetize / simplify, Active listening, Critical thinking, Attention to detail / rigorReference: FINACCOSTACC