Function – Deputy CFO – Audit Relationship Management
Level - ENO
JOB ID – ADAC01
LOCATION: Pune
NUMBER OF POSITIONS REQUIRED: 1
DEPARTMENT: Deputy CFO – Audit Relationship Management
CANDIDATE SPECIFICATION SUMMARY:
WORK EXPERIENCE / BACKGROUND
•4-5 years experience of which at least 2-3 years at one on the Big4 Audit Firms, ideally 2-3 years at a finance department or supply management function within a financial services firm, or similar at a regulated entity.
•Experience/ understanding of process of financial statement preparation, related regulatory reporting and the audit/ review process required.
•Experience of contracting in respect of Audit Firm services, including scoping, pricing and negotiating.
•Ability to understand legal contracts terminology, terms & conditions
•Knowledge of audit firm independence requirements, such as those outlined by SEC
EDUCATION (specify CA/MBA/Bcom etc)
•Bachelor of Science in Accountancy, Finance or similar
•Chartered Accountant
PRINCIPAL RESPONSIBILITIES OF THE ROLE:
The Auditor Relationship Management (ARM) Team monitors the service independence of the Big4 Audit Firms (KPMG, PwC, Deloitte, Ernst & Young) for Credit Suisse globally and manages the audit fees of Big4 firms. The Team reports into the CFO Pan Finance Mandates / Deputy CFO and consists of 3 team members, which amounts to 2.5 FTE. The Team works closely together with other departments including Financial Accounting, Tax, and Supply Management as well as internal clients throughout all of CS.
The ARM team is based centrally in Zurich and has strong relationships with each of the Big4 Audit Firms. The team is often involved with resolving conflicts and brought in as negotiation specialists on projects outside of audit.
In order to monitor the independence of Audit Firms, ARM has implemented a System for Accounting Firm Engagements (“SAFE”), through which ARM approves or rejects any engagement between CS and any of the Big4 firms. The engaging party at CS is responsible for submitting a SAFE request describing the nature and details of the engagement. ARM reviews the scope, fees, and terms and conditions of each of these engagements, and discusses with local business contacts if required. ARM is looking for a motivated person to support with primary tasks related to reviewing SAFE requests as well as the technical support of the tool, in addition to supporting with key fee negotiations for audit services or specific areas ARM offers expertise on.
JOB DESCRIPTION - KEY TASKS:
The role would include, but not be limited to, the following tasks:
•Monitoring of Big4 firms’ independence through CS internal System for Accounting Firm Engagements (SAFE), specifically for engagement with Deloitte and Ernst & Young
•Ensuring all terms and conditions of these engagements with Deloitte or Ernst & Young are in line with the CS Independence Policy
•Supporting with key fee negotiations by challenging proposed budgets
•Analyzing fee movements for recurring engagements and proposing projects which could be subject to a tender to ensure fee optimization
•Pro-actively proposing improvements to the SAFE tool to enhance user-friendliness and keep it up-to-date with latest releases, which includes having ownership over the testing for these releases
•Quarterly update of foreign currency exchange rates in SAFE
•Performing initial reviews of budgets for audit fees or new entities or scope increases of existing entities and informing the central ARM team results from first analysis
•Escalating independence issues or conflicts between CS and an Audit Firm to the central ARM team
•Contacting internal clients regarding questions or incomplete information of their SAFE engagements
•Business support for internal clients with technical questions regarding the submission or approval of their SAFE engagement requests
•Storage and archiving of SAFE engagement requests after approval or rejection
The candidate is expected to work closely with the team and sometimes may be required to assist with other processes or tasks within the team’s responsibilities.
CRITICAL SKILLS REQUIRED:
•Working knowledge/ experience of SEC independence rules applied to Audit Firms/ Audit Firm services and market
•Knowledge of Audit process
•Able to build good relationships with Audit Firms globally, particularly KPMG teams based in Pune and Zurich
•Able to work with local business colleagues and other stakeholders at all levels to discuss matters relating to independence or audit fees
•Able to be comfortable working in an environment with exposure to senior management
•Excellent communication skills in written and spoken English and ability to co-operate effectively across time zones and cultures
•Computer literacy, including strong Excel and Powerpoint skills
•Negotiation skills and ability to challenge and develop alternative solutions
•Motivated to work with a high degree of independence within a small existing team
•Analytical, inquisitive and a high level of attention to detail
•Committed to meeting deadlines and producing accurate work under pressure
•Able to prioritize efficiently in order to deal with ad hoc urgent items
OPTIONAL SKILLS REQUIRED:
•Knowledge of regulatory and accounting requirements and ability to quickly understand new requirements
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