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CIB – F&BM – Legal Entity Control – Accountant – Assoc

Req #: 180004704
Location: Johannesburg, GT, ZA
Job Category: Accounting/Finance/Audit/Risk
Job Description:
Purpose of Job:
 
To be part of the Legal Entity Control team, which is responsible for accounting, taxation, inter-entity functions, other accounting related functions and management accounting functions within the bank.
 
Key Responsibilities:
 
  1. Representative Offices Financial Controller
Financial oversight of the Sub Saharan Africa representative office including:
  • Review monthly management accounts prepared by the outsourced local accountants and submit to New York Controllers to be booked into the corporate ledger.
  • Review and approve payment schedules prepared by the Office Administrator.
  • Ensure bank accounts are operated within J.P. Morgan policy.
  • Undertake corporate governance review annually
  • Manage and drive the external audit of the representative offices annual financial statements.
  • Ensure that payments on behalf of representative offices from South Africa comply with Exchange Control Regulations,
  • Dealing with ad hoc accounting related queries.
  • Attendance of local management committee meeting to provide relevant feedback
  • Ownership of all reference data within the financial reporting space for entities.
  • Ensuring funding for Rep offices and attributions/cost recovery
  • Oversight of the local accountants, auditors and legal teams in location
 
  1. Month-end Process
  • Month end reporting – ensuring the month end close within corporate deadlines (4 day close period), verification of corporate P&L, analysis of inter-entity charges from other JPMorgan locations including resolution of inter-entity breaks during month-end close, unnatural balance checks and FX trade outs.
  • Compliance with the firms GLRS (general ledger reconciliation and substantiation) policies, Quality assurance and US accounting policies, including P&L remittance and capital hedging submissions.
  • Ownership of all reference data within the financial reporting space.
  • Preparation of inputs for local management reports (Month end packs, local operating committees, etc).
  • Preparation of monthly VAT returns and payments.
  • Preparation and reconciliation of tax schedules (Professional fees, audit fees, legal fees and repairs and maintenance).
     
     
  1. B-BBEE
  • Manage the annual BBBEE verification by the appointed verification agency.
  • Prepare quarterly transformation reports to be presented at the transformation committee meetings  to track progress
  • Assist lines of business to complete request for proposals (RFP)
  • Implement processes to ensure compliance and improvement of scores
  • Keep abreast of developments in the B-BBEE space and advise business of changes that will impact the bank.
     
     
     
     
  1. Management Accounting
  • Management accounting for the Sub Saharan Africa franchise. This involves comparing actual expenses with prior year and/or plan numbers, providing variance commentary on material variance.
  • Present management accounts at the monthly Financial Reporting Results Committee meetings
  • Identifying and suggesting improvements to the processes, and implementing them where applicable.
  • Oversight and management of Indirect Allocations process for the South African entities
  • Control the Indirect Allocations process, including the investigation of differences between the Indirect.
  • Analyse and categorise all cash settling charges according to the Balance of Payments (BOP).
  • Dealing with ad hoc accounting related queries.
     
  1. Statutory and Accounts payable:
  • Ownership of relevant statutory filing requirements for legal entities in SA and Rep Offices
  • Custodian of the local bank accounts including administration and reporting.
  • Custodian of corporate cards
  • Adhering to retention policies of documents and information in line with Companies Act requirements.
     
     
  1. Projects
  • Driving and delivering on project initiatives in relation to Rep offices and South Africa

Key Competencies

  • Firm grasp of finance and financial principals
  • Strong accounting knowledge
  • Strong technical and analytical skills
  • Understanding of the industry (preferable)
  • Strong communication skills
  • Advanced MS Office
     
     

Educational/Qualifications

  • BCom Accounting (or equivalent)
 
 

Experience

  • 3 years experience in a similar role
 
 

Key Personality Traits

  • Analytical/detail orientated
  • Works well under pressure
  • Innovative
  • Logical & well organised
  • Team orientated
  • Ability to work without close supervision
About J.P. Morgan’s Corporate & Investment Bank
 
J.P. Morgan’s Corporate & Investment Bank is a global leader across banking, markets and investor services. The world’s most important corporations, governments and institutions entrust us with their business in more than 100 countries. With $18 trillion of assets under custody and $393 billion in deposits, the Corporate & Investment Bank provides strategic advice, raises capital, manages risk and extends liquidity in markets around the world.  Further information about J.P. Morgan is available at www.jpmorgan.com.
 
JPMorgan Chase & Co. offers an exceptional benefits program and a highly competitive compensation package. JPMorgan Chase & Co. is an Equal Opportunity Employer.
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