Role Responsibilities
About SC Ventures
SC Ventures is Standard Chartered’s innovation, fintech investment and ventures arm. We were established to reinvent banking, as the significant technological disruptions to the industry was impacting its ability to serve clients and customers, in the ways they needed to be served.
We are a unique ecosystem of innovators, banking experts, business builders and partners who are focused on rewiring the DNA in banking and bringing breakthrough ideas to scale, together.
We are building ecosystems around four high conviction themes: Online Economy & Lifestyle, SMEs & World Trade, Digital Assets, and Sustainability & Inclusion.
We are a global team of "Members" (excluding individual ventures), including dedicated colleagues from the Group's support functions, based in Singapore, Hong Kong, London, the United Arab Emirates and Israel.
This role leads the SCV Finance team’s financial control function. It sets direction and manages the integrity of books and records of all Global SC Venture Group’s 30+ legal entities, investments, and operations, while implementing world-class financial management discipline to the businesses and platform. The role will be a trusted member of the SC Ventures team providing financial controllership, financial reporting, and process/project delivery to provide the SCV senior management team critical finance business partnering to deliver its business strategy.
Responsibilities
Strategy
· Provide leadership on all financial control/accounting approaches and operational affairs of SCV and its associated businesses and investments. This requires delivery of strong financial accounting discipline, direction setting, and process management across SCV entities globally.
· Co-ordinate and oversee the month-end process, and financial statement preparation of all operationalised SCV business entities and investments. This involves but is not limited to, oversight of venture monthly performance and control reports, technical accounting requirements, operational booking model oversight, financial regulatory requirements, management of third-party vendors and financial systems utilised for ventures and audit requirements.
· Drive enhanced analytical reporting for the profit and loss and key financial indicators. This will require a wider understanding of financial performance is delivered to a variety of stakeholders through business focused conversations at all levels of the team.
· In conjunction with the CFO and Head of Finance, deliver on OKRs related to financial control and improvement projects thereof.
· Take the lead role in ensuring new venture ideas are fully informed and “go-live ready” with regards to accounting and financial management infrastructure, leading them through incubation, launch and operationalisation and being de-facto interim CFO until a dedicated resource / team is appointed.
· Be the liaison point between the venture entities, SCV platform, and SCB Group Accounting (including technical accounting) such that all Group reporting and control requirements are met while also being commercially minded and helping the venture businesses grow.
· Lead capability development within the SCV Finance, and ventures Finance teams in financial accounting disciplines, and being a steward of the Groups financial resources.
Business
· Provide financial partnering, expertise, advice and an independent challenge to the businesses on the day-to-day financial management as well as more complex considerations such as corporate organisation design, acquisitions/divestments/corporate re-structuring, intellectual property considerations, transfer pricing etc
· Manage a variety of internal and external stakeholders on all financial matters. This will involve establishing external relationships from managing all ends of financial management of a business from control to reporting, technical accounting considerations, and any changes to business activities or external standards and regulations.
· Partner with the SCV Funds team in future fundraising efforts and advise on optimum booking models for SCV entities both tactically and structurally through new investment growth. This will require being involved in due diligence preparation, quarterly financial presentations and business positioning materials (including valuations and potential acquisition and exit strategies). The role will require management of third-party specialists who will rely on SCV Finance provided direction.
· Provide Finance input into systems development and provide guidance on how this will be implemented, maintained, and improved over time as business requirements arise.
Processes
· The role is expected to ensure financial control over all digital ventures is established and robust. This will involve setting up new financial systems with third party providers and financial systems and integrating these in accordance with Group requirements as well as ensuring accurate and timely information reporting to SCB Group and related stakeholders is provided.
· The role will require a control mindset and adherence to the SCV Committee (Risk) framework for Business Ventures and Fund investments.
· Partner with SCB Tax team to support tax compliance including filing corporate tax, VAT and other tax returns. Specifically, working with venture and third party outsource teams to provide tax inputs for the banks group reporting schedules (half year, year-end) as requested and support internal tax sign offs.
· Oversight of SCV structure (e.g. cost centres, entities, business functions) in the Group finance systems.
· Ownership of balance sheet substantiation in the Bank’s Financial Control System.
· Maintenance of SCV Finance Process Universe highlighting associated risks and controls.
· Implement new financial systems and processes for every venture launched and manage the integration and oversight of it with SCB Group systems.
People & Talent
· Developing a growing onshore team will be a key focus of the role as the SCV business and segment grows in the short to medium term. The role is also expected to mentor and develop digital venture finance team capability in ensuring financial information is of high integrity.
· The role is expected to have four direct reports at the onset, but which may grow with business requirements.
Risk Management & Governance
· Along with the SCV CFO and Head of Finance develop the overall design and outcome of the end-to-end finance and related processes and controls for SCV. The role will own the process output performance in terms of client service, financial performance and risk where appointed as Process Owners.
· Develop and maintain effective financial information systems to satisfy the reporting needs of SCV Management Team, SCB Group Finance and local regulators.
· Apply Group accounting and financial control policies, standards, procedures and internal control practices as required
· Ensure adequate controls are installed at all ventures and that substantiating documentation is available to areas such as Internal Audit and SCB Group Finance.
· Identify, assess, treat and monitor significant operational risks and propose risk acceptance requests with justification to the authorised risk acceptance authority and abide by any conditions of acceptance.
· Promptly execute any remediation or risk treatment actions to remain within risk tolerance.
Regulatory & Business Conduct
· Display exemplary conduct and live by the Group’s Values and Code of Conduct.
· Take personal responsibility for embedding the highest standards of ethics, including regulatory and business conduct, across Standard Chartered Bank. This includes understanding and ensuring compliance with, in letter and spirit, all applicable laws, regulations, guidelines and the Group Code of Conduct.
· Effectively and collaboratively identify, escalate, mitigate and resolve risk, conduct and compliance matters.
· Lead to achieve the outcomes set out in the Bank’s Conduct Principles: [Fair Outcomes for Clients; Effective Financial Markets; Financial Crime Compliance; The Right Environment.]
Key stakeholders
· CFO SC Ventures and Head of Finance SCV
· Head of SC Ventures and SC Ventures Management Team
· Business Venture Teams
· External outsourced vendors and auditors
· SCB Group Functional areas such as Finance, Tax, Risk, Legal and Compliance
· Future external stakeholders
Other Responsibilities
· Embed Here for good and Group’s brand and values in Singapore SC Ventures; Perform other responsibilities assigned under Group, Country, Business or Functional policies and procedures; Multiple functions (double hats);
Our Ideal Candidate
· Bachelor’s or Master’s degree in Accounting or Finance
· Chartered Accountant (CA) or Certified Public Accountant (CPA) certified
· Experience in Financial Controlling
· 10 years of experience in Finance Industry (Audit and Accounting)
· Experience in people management
· Strong problem solving and analytical skills
· Excellent communication and teamwork skills
· Preferable to have experience in working with start-ups
Role Specific Technical Competencies
· Planning, strategic, tactical
· Business Analytics
· Budget Management
· Financial Forecasting and Modelling
· Financial Risk Management
· Financial Reporting
· Financial Analysis
· Cost-Benefit Analysis
· Effective Communications
· Influencing Through Expertise
About Standard Chartered
We're an international bank, nimble enough to act, big enough for impact. For more than 160 years, we've worked to make a positive difference for our clients, communities, and each other. We question the status quo, love a challenge and enjoy finding new opportunities to grow and do better than before. If you're looking for a career with purpose and you want to work for a bank making a difference, we want to hear from you. You can count on us to celebrate your unique talents. And we can't wait to see the talents you can bring us.
Our purpose, to drive commerce and prosperity through our unique diversity, together with our brand promise, to be here for good are achieved by how we each live our valued behaviours. When you work with us, you'll see how we value difference and advocate inclusion. Together we:
· Do the right thing and are assertive, challenge one another, and live with integrity, while putting the client at the heart of what we do
· Never settle, continuously striving to improve and innovate, keeping things simple and learning from doing well, and not so well
· Be better together, we can be ourselves, be inclusive, see more good in others, and work collectively to build for the long term
In line with our Fair Pay Charter, we offer a competitive salary and benefits to support your mental, physical, financial and social wellbeing.
· Core bank funding for retirement savings, medical and life insurance, with flexible and voluntary benefits available in some locations
· Time-off including annual, parental/maternity (20 weeks), sabbatical (12 weeks maximum) and volunteering leave (3 days), along with minimum global standards for annual and public holiday, which is combined to 30 days minimum
· Flexible working options based around home and office locations, with flexible working patterns
· Proactive wellbeing support through Unmind, a market-leading digital wellbeing platform, development courses for resilience and other human skills, global Employee Assistance Programme, sick leave, mental health first-aiders and all sorts of self-help toolkits
· A continuous learning culture to support your growth, with opportunities to reskill and upskill and access to physical, virtual and digital learning
· Being part of an inclusive and values driven organisation, one that embraces and celebrates our unique diversity, across our teams, business functions and geographies - everyone feels respected and can realise their full potential.
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