Senior Specialist, Accounting - FX Product Controller, APAC

BNY Mellon
Singapore, Singapore
22 Nov 2022
22 Dec 2022
Job Function
Industry Sector
Finance - General
Employment Type
Full Time

Overview Of BNY Mellon:

BNY Mellon is a global financial services company focused on helping clients manage and service their financial assets, operating in 36 countries and serving more than 100 markets. BNY Mellon is a leading provider of financial services for institutions, corporations and high-net-worth individuals, providing superior asset management and wealth management, asset servicing, issuer services, clearing services and treasury services through a worldwide client-focused team.

BNY Mellon Markets & Execution Services aims to deliver a fully integrated suite of execution, liquidity, financing and collateral optimization solutions to the firm's core client base.

Markets and Execution Services leverage the firm's unique position in Asset Servicing and Triparty Collateral Management, to deliver adjacent services by offering
  1. full-service execution in Foreign Exchange, Fixed Income and Equities markets, seamlessly integrated into the custody ecosystem
  2. Intermediation services in Secured Financing markets, particularly for our buy-side client franchise, collateralizing exposures via BNY Mellon's Triparty platform

The active management of short-term investments needs to help their clients earn incremental yield through the Liquidity Direct portal. Markets & Execution Services offers innovative solutions and services, market insights, industry expertise and scalable technology to help clients manage their risk, capital, liquidity and financing needs within the safety of BNY Mellon's custody and trading ecosystem.

Team Description:

The role is within the EMEA/APAC Markets & Treasury Controllers team whose remit is to ensure the activities of the APAC Markets & Treasury teams are accurately recorded in statements of the various entities they operate in. The team also supports new product initiatives and regional expansion, working closely with Front, Middle and Back Office.

Responsibilities also cover oversight of the daily P&L with responsibility for ensuring the traders P&L is signed off.

The team work closely with BNYM Legal Entity Controllers supporting them with performance reporting and the Audit and for managing and reporting non-trading FX risk and supporting Treasury and Fixed Income products. Cross regional collaboration is a critical element of our role.

Role Purpose :

The Markets Controller is a subject matter expert in Financial Markets with experience in reporting of FX and Fixed Income products. They will have experience in the managing the control environment for these products and overseeing teams responsible for balance sheet substantiation, trade reconciliations, price testing, daily P&L production and in partnering the business with new product implementations and regional expansion.

This role is accountable for ensuring effective, efficient Sarbanes-Oxley controls and reporting in compliance with IFRS and US GAAP and that the general ledger accounts pertaining to Markets are complete and accurate.

The role should actively engage across the relevant functions within Markets and Finance to ensure they understand the business strategy, product support and interaction with the underlying client. This will enable the individual to actively support business outcomes and use the information to ensure financial results & controls reflect this.

Acting as contact point for key stakeholders including the markets business, regulatory reporting, external auditors, SOX team, Tax, and the US Central Finance team

  • Manage the financial control environment for Markets activities in the APAC Region.
  • Support the business in Product and Regional Expansion
  • Support the Financial Control and Regulatory Reporting teams in their understanding of Markets activities
  • Oversee the APAC Daily Trader P&L sign off process, analysing issues and working with Traders and Reconciliation team to resolve issues
  • Govern the month end close process, including monitoring of results, escalating, and resolving issues
  • Review of the monthly variance packs ensuring that it provides a meaningful analysis of different aspects of the business performance
  • Review and presentation of quarterly KPI's and board packs to Legal Entity Controllers
  • Ensure the accounting process are robust, efficient, and well controlled
  • Contribute to project and process improvement initiatives as required

Skills sought:

Job Specific Competencies

  • Adaptable, flexible, and proactive
  • Strong leader with proven record
  • Good communication and able to influence outcome across the organisation
  • Good decision maker, responsible and accountable
  • Deadline driven with effective time management and ability to work under pressure
  • Client orientated and results focused
  • Able to manage risk in a highly regulated and controlled environment
  • Ability to establish and develop effective relationships
  • Highly motivated, fast learning and proactive with an ability for problem solving

Technical Skills, Knowledge, Systems Knowledge (and associated skill level)

  • Qualified accountant with a number of years post qualification experience
  • Significant experience in Financial Markets, ideally Markets and/or Corporate Treasury accounting experience
  • Strong technical accounting knowledge, particularly IFRS and US GAAP.
  • Exposure to Front and Back Office systems used for FX and Fixed Income businesses
  • Experience of a fast moving, highly controlled, multi-national/functional organisation.

Employer Description:

For over 230 years, the people of BNY Mellon have been at the forefront of finance, expanding the financial markets while supporting investors throughout the investment lifecycle. BNY Mellon can act as a single point of contact for clients looking to create, trade, hold, manage, service, distribute or restructure investments and safeguards nearly one-fifth of the world's financial assets. BNY Mellon remains one of the safest, most trusted and admired companies. Every day our employees make their mark by helping clients better manage and service their financial assets around the world. Whether providing financial services for institutions, corporations or individual investors, clients count on the people of BNY Mellon across time zones and in 35 countries and more than 100 markets. It's the collective ambition, innovative thinking and exceptionally focused client service paired with a commitment to doing what is right that continues to set us apart. Make your mark: