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Financial Accountant – Financing Activities and Taxes


Report to

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

Mission and Objectives

He/she will perform tasks allocated mainly to the Financing Activities and Taxes, 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 generated by the Financing Activities identified as follows: loans, deposits and guarantees and Taxes. 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.


Main responsibilities


Accounting & Control Functions

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

  • Perform daily and month-end financial closing for their entities and prepare the Financial reporting to the Group

  • Prepare and book daily/monthly entries as necessary

  • Review ledgers and perform account and transaction analysis

  • 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 coordination with the management  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

  • Prepare budget and Forecast process related to the Financing activities

  • Transform the accounting data into management accounting (profitability and cost allocation by Business Line) following the MARP (Management Accounting Rules and Principles)

  • Perform the P&L and cost of funding reconciliation processes in compliance with Group and CIB Finance standards

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

  • The operational processing of revenues and Cost of Risk

  • Reconciliations of account balances (e.g. transit and suspensory accounts related to financing activities and taxes)

  • Reconciliations between systems / with Head Office (e.g. reconciliation of management reporting of provisions with approvals from Paris Risk Department)

  • The reports generated by the management accounting activity (e.g. Flash reports, reporting of customer-level profitability)

  • Justification of the balance and off-balance accounts allocated to the department related to the Corporate banking products (e.g.: transfer pricing, CoR accounts, etc.)

  • Review the accuracy of the Corporate Income Tax calculated by the sites, assuring the correct booking of the entries associated to this calculation

  • Reconciliation between Atlas2 /Midas and OFS in all related to financing activities and taxes

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 focus on loans, deposits, guarantees and taxes desirable

  • Knowledge about the Corporate Income tax calculation and its accounting impact a plus

  • English speaking is mandatory


Essential specific requirements

  • Working knowledge and understanding of generally accepted accounting principles, both in IFRS and French GAAP (an asset)

  • Excellent Excel skills (including pivot tables, VLOOKUP, SUMIF)
  • Ability to learn new systems and products quickly

  • Speaking French and other local languages a plus

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-MD-MadridJob Type: Standard / PermanentJob: OPERATIONAL EFFICIENCY TRANSFORMATION AND BUSINESS ANALYSISEducation Level: Not indicatedExperience Level: Not IndicatedSchedule: Full-time Behavioural competency: Ability to collaborate / Teamwork, Attention to detail / rigor, Critical thinking, Communication skills - oral & written, Client focused, Active listening