Job ref no.: CT3119337-01#5817

Financial and Regulatory Reporting Manager

Interactive Brokers

Job Description and Responsibilities

Due to the continued expansion of our business activities, we are establishing an online broker in Singapore named Interactive Brokers Singapore (“IBSG") and seeking the approval of the Monetary Authority of Singapore (“MAS").

The Financial and Regulatory Reporting Manager role (based either in Hong Kong or Singapore, preferably in Hong Kong) will be a key position that carries an overall responsibility for financial regulatory compliance for IBSG, and for daily accounting and month-end close processing. This position will require a highly organized, analytical thinker, who is persistent as well as resourceful in getting to the right answer.

The Financial and Regulatory Reporting Manager will have the responsibility of ensuring the accuracy of financial statements under Singapore GAAP, safeguarding of customer money and compliance with net capital rules. The manager will oversee daily reporting to the MAS and various other regulatory authorities in Singapore overseeing the business of IBSG. A qualified candidate will have in depth knowledge of:
  • Regulatory reporting requirements for a MAS Capital Markets licence holder, in particular the Risk Based Capital Adequacy Requirements issued by the MAS.
  • Various financial products and their implications on regulatory reporting.
  • Singapore accounting standards.
IBSG is a new entity under IBKR and will initially commence business with a small team with the support and close working relationship with our global teams. Depending on the incumbent’s capacity, this position will also assist in the coverage of other entities of Interactive Brokers in Asia Pacific, i.e. Hong Kong, Australia and Japan, and will play an important role in supporting the growth of our business in the region. Training will be provided and there is extensive documentation of the various regulatory requirements for the above-mentioned countries.

Responsibilities:
  • Daily client money reconciliation.
  • Daily financial resources computation.
  • Monthly regulatory return.
  • All other financial regulatory reporting.
  • Financial queries and examinations from the regulators.
  • Weekly PLs for the business.
  • Monthly review of the balance sheet and income statement during month-end close, which will be used in regulatory reporting.
  • Tracking new regulatory rules and requirements.
  • Assist in the design of regulatory set-up for new products.
  • Point person for local financial audits.
  • Maintain and document regulatory controls and procedures.
  • Ad hoc analysis: revenue enhancements, cost savings for the business.
  • Continue to improve automation for all aspects of regulatory reporting.
  • Participate in local and regional, and global meetings (where required) on above areas.

Qualifications

Qualifications:
  • 5 plus years of financial regulatory reporting experience.
  • Post graduate accounting qualification from a recognized accounting body.
  • Ability to evaluate current procedures and design and implement changes in order to streamline operations, while ensuring sufficient checks and balances.
  • Prior experience in highly automated environment and ability to specify programming requirements is a plus.
Other Specific Skills & Knowledge:
  • Must be fluent in English.
  • Prior experience with Oracle Financials preferred.
  • Must be an intellectually curious self-starter and have the ability to work without constant supervision.
  • Attention to detail and high degree of accuracy.
  • Not afraid to question and research information.
  • Ability to work co-operatively as part of a small team.

Company Overview

Interactive Brokers (“IBKR") is a direct-access electronic trade execution and clearing broker for active traders, institutional investors, financial advisors and introducing brokers. The firm serves more than 598,000 customers in trading securities, commodities and foreign exchange in 23 currencies on over 120 market centers in 31 countries around the world. By building and operating highly automated systems in all aspects of its business, IBKR is able to efficiently scale its business and control risks. For example, the firm employs fully automated real-time risk management systems that monitor and control customer positions in equities, options, futures and forex across multiple account types and currencies. The business is in a stage of rapid growth.
 

IBKR is a subsidiary of publicly traded Interactive Brokers Group, Inc., based in Greenwich, Connecticut (IEX: IBKR). The Group’s consolidated capital is in excess of USD 7.1 billion. In addition to electronic brokerage services, the Group’s market maker companies trade in equities and exchange-listed equity derivative products around the world. Interactive Brokers Group plays a leading role in trading and brokerage worldwide, executing, clearing, settling and accounting for over 900,000 trades per day.
 
Interactive Brokers' headquarters are in Greenwich Connecticut, and it has over 1380 employees in its offices in the USA, Australia, Canada, China, Estonia, Hong Kong, Hungary, India, Japan, Russia, Switzerland and UK. [i]
 
Interested parties please click Apply Now to apply job.
 
[i] Information on the company can be found at: www.interactivebrokers.com

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More job information
Job ref no. CT3119337-01#5817
Salary
  • N/A
Job Function
Industry
Employment Term
  • Full-time
Experience
  • 5 years - 10 years
Career Level
  • Middle management level
Education
  • Diploma or equivalent
  • Asso. Deg or High Dip
  • Degree