Section 1: Purpose of the position

• Incumbent is expected to provide inputs and take actions considering overall long-term growth and future of SMBC India.
• Lead strategic initiatives, provide regular updates and inputs for management decision making
• Responsible for Financial statement finalisation and audit including hands on experience with IFRS and dealing with Treasury Products.
• Manage Head office reporting
• Manage daily control activities
• Assist with Direct and Indirect tax compliances
• Process betterments/refinements in the existing processes/ Knowledge sharing/ process backups.
• Effective resource management and staff development

Section 2 (A): Scope and Dimension

• Candidate will be reporting to Head of Accounting and Taxation (sub-Section) within FAD
• Geographical coverage: All branches of SMBC India, regional co-ordination
• Functional coverage:
• Team handling role, managing the sub-section of Accounting and Taxation
• Stakeholder management, including maintaining cordial relationship with internal stakeholders, Head office/ regional office counterparts
• Responsible for Financial statement preparation and audits
• Assist in managing direct/ indirect tax compliances, liaising with tax office and external consultants
• Participate in strategic initiatives of the Bank and handle projects
• Efficient contribution in process betterments/refinements in the existing processes
• Knowledge sharing /create back-ups
• Demonstrate leadership skills
• Build strong networking within banking fraternity, industry bodies and regulators

Main interfaces / relationships: Effective and efficient liaison with internal teams, regional and Matrix stakeholders including senior management members, department heads, etc.

Section 2 (B): Challenges

• Adaptability to working in cross cultural environment
• Keep oneself constantly updated with changes in Taxation and Accounting, understanding its impact on the organisation and taking proactive actions
• Project and change management
• Manage the data quality, with strict adherence to deadlines
• Team handling

Section 3: Job Responsibilities

Financial Reporting

• Responsible for preparation and review of Financial Statements
• Manage audits/ external reviews like statutory audit, concurrent audit, review by regulators etc
• Supervise and be responsible for preparation and submission of HO related reports.
• Manage and be responsible for other activities for the Financial Accounting team, including management of daily controls, project management, new product evaluation etc.
• Lead the preparation of IFRS Financial Statements and consequential accounting adjustments
• Manage accounting for existing and proposed Treasury products

Direct Tax compliance

• Help manage and mitigate overall tax risk for the Bank in India
• Assist with direct tax compliances with local regulators / head office including tax payments, filing of returns, assessments, handling tax notices etc including liaising with external consultants
• Responsible for corporate tax and transfer pricing documentation/ submissions including handling litigations.
• Assist with Advance Pricing Agreement compliance and renewal.
• Guide other members from team and other departments on queries related to Withholding Tax, Corporate Tax, Transfer Pricing and Advance Pricing Agreement related.
• Advise on efficient tax planning and on new products from a tax perspective.

Indirect tax compliance

• Assist with monthly/ annual GST returns and related payments.
• Help liaise with Tax office for routine matters or litigations, as may be required
• Manage and maintain efficient support from external consultants
• Manage internal/ external queries on indirect taxes

Others

• Build strong networking within banking fraternity and regulators
• Participate in strategic initiatives and lead bank level projects
• Appointments of Auditors in adherence with RBI guidelines and internal rules
• Manage effective relationship with Head office/regional office counterparts
• Develop an overall view of Banks operations and participate in overall growth/development of Bank in India.
• Knowledge sharing
• Motivate, train and develop staff
• Maintaining strong risk management culture

Note: The scope of work above is indicative but not exhaustive in nature, the incumbent may be required to assist the team on other activities on need basis and as part of progress plan.

Section 4: (a) Knowledge (b) Skills (c) Experience (d) Qualifications

(a) Knowledge- Indian tax laws and accounting principles

(b) Skills- Strong Communication and analytical skills, excellent negotiation skills, project management and decision-making abilities

Strong Interpersonal skills as dependency outside team for data.

(c) Experience- 8+ years of experience, preferably in Banking/Financial services, Foreign/India Banks, understanding of Bank Financial statements and products, experience of team handling and working in a cross-cultural environment, exposure to Direct taxation and international Transfer pricing.

(d) Qualifications - CA and/or higher equivalent qualification in Accounting / Taxation

Section 5: Certification Select the relevant Certifications from the list below:

CFA, and/ or

Diploma in IFRS

[Note Candidates without these certifications, may not be entrusted responsibility for preparation of financial statements but oversee the same]