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At CIBC, we embrace your strengths and your ambitions, so you are empowered at work. Our team members have what they need to make a meaningful impact and are truly valued for who they are and what they contribute.

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BUSINESS UNIT DESCRIPTION

The Finance group provides financial services to CIBC’s businesses through effective governance and decision support processes. These services include financial, management and regulatory reporting, maintenance of accounting records and internal controls, financial analysis and planning, tax planning and compliance, treasury, global sourcing and payment processing, regular reviews of business line performance, asset record maintenance. and liaison with external authorities on financial reporting matters. In addition, Finance assists Corporate Development in providing financial advice regarding CIBC’s business opportunities and transactions.

LINE OF BUSINESS DESCRIPTION

Finance , Hong Kong is a one stop shop providing the full suite of Finance services to the Hong Kong and China offices which currently comprises of a branch and representative offices. The team performs Financial regulatory, management and statutory reporting, accounts payables and expense accounting and taxation. The team provides value by helping clients and partners to make effective decisions, compliance with regulatory and statutory requirements, processing of vendors invoices and expenses, participation and support of global and regional projects/initiatives.

Key Responsibilities include:

Account for and ensure the timeliness and accuracy of both internal and external financial reporting, Head Office reporting, management reporting and regulatory reportingCoordinate and testing and implementation of new product and systemUpdate and implement process documentation e.g. desktop procedure manual, reviewer checklist for financial reports and regulatory reportsAssist in the branch tax filing schedulesMonitor expense processing and general accounting entriesEnsure interface between source and ledger are in syncIdentify and implement process improvements and automation opportunities to enhance operational efficiencyLiaise with internal and external auditors and stakeholdersKeep abreast of new Finance related regulatory and financial reporting requirementsSupport ad hoc request and new project initiatives raised by the regulators and stakeholdersProvide guidance and on the job training to staff with issues/problemsSupport Shanghai Rep Office, Beijing Rep Office and WFOEAct as Business Plan Recovery coordinator for HK Finance and update BRP documents as when requiredAct as Coordinator for the Record Retention for HK Finance and perform checks on compliance to Record Retention policyResponsible for expenses management, review account coding on expense invoices prepared by the Finance Assistant ManagerBe responsible for entries for BRO and WFOE to ensure payment is legitimate with proper authorization, and map entries from local book to CIBC accountProvide monthly funding for Shanghai and Beijing officesReconcile fixed asset in COUPA to SAPMaintain chart of accountsMaintain Fixed Assets register in the COUPA systemRecover of intercompany charges from CIBC branchesPerform daily reconciliation on Nostro accountsEnsure all suspense accounts are cleared by month endPrepare Balance Sheet supporting schedules monthly – Security Deposits/Prepayments/Club Membership/Fixed Assets/Expense Accruals/OthersPrepare monthly expenses variance analysis for total HK branchPrepare following daily / monthly / quarterly reportsDaily of FX positionDaily and Monthly PnL for HKMonthly Core Li & Asset reportMonthly Operational losses reportMonthly expenses accrual entriesMonthly HK Finance holiday entitlement schedulePrepare monthly transfer pricing invoice and entries for Global Banks and WFOEReview month-end sweep entries and raise FX tickets for the sweep entriesPrepare yearly trial balance sheet and audit related documents for Beijing Rep OfficesProvide support and backup to HK Finance team on SAP, Alteryx, COUPA, PeopleSoft

Qualifications and Experience

Minimum 5 years of relevant experience in a similar position. Experience in Big 4 is preferredGenerally Accepted Accounting Principal covering local requirements to ensure financial records meet the local standards. IFRS/Canadian requirements is preferredKnowledge of Hong Kong Corporate Income Tax and HKMA regulatory reporting requirements is preferredDiverse product knowledge in general wholesale banking products such as corporate loans, contingents such as bonds/guarantees, deposits, securities, derivatives and foreign exchange, investment banking M&A and Underwriting covering business activities in office to ensure that proper review and analysis of performance is achievedFinancial reporting systems including source systems in order to provide efficient use and maintenance of the systems from a financial reporting perspective and ensuring that proper control and reconciliation is undertakenStrong working knowledge of Microsoft Excel (Macros, SQL, VBA, etc.) is a plus

What you need to know

CIBC is committed to creating an inclusive environment where all team members and clients feel like they belong. We seek applicants with a wide range of abilities and we provide an accessible candidate experience. If you need accommodation, please contact Mailbox.careers-carrieres@cibc.comYou need to be legally eligible to work at the location(s) specified above and, where applicable, must have a valid work or study permit

Job Location

2 Queens Road Central

Employment Type

Regular

Weekly Hours

37.5

Skills

Accounting Policies, Accounting Processes, Accounting Reconciliation, Analytical Thinking, Client Counseling, Communication, Financial Reporting and Analysis, Management Reporting, Process Improvements