AVP, Financial Reporting

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About DBS Australia

DBS Bank Ltd opened its Australia Branch in Sydney in June 2015 and has been steadily growing since this time. DBS Bank Ltd, Australia Branch (DBS Australia) is regulated by Australian Prudential Regulation Authority (APRA), Australian Securities and Investments Commission (ASIC) and Australian Transaction Reports and Analysis Centre (AUSTRAC). The branch offers a wide range of products and services to wholesale clients through our frontline teams in Institutional Banking Group, Global Transaction Services, Global Financial Markets and Project Finance. All the teams work closely together to ensure a quality service is enjoyed by our clients.

The frontline teams of DBS Australia are supported by dedicated Technology, Operations, Finance, Risk Management Group, Legal & Compliance, and Human Resources teams in Australia.

Job Duties & responsibilities

• Ensure that financial records of the Branch are maintained accurately in accordance with Australian Accounting Standard and DBS Group's accounting policies which meet regulatory requirements.
• Establish processes that have the appropriate financial controls and tracking of the Branch's Key Risk Indicators and Key Obligations Register and RCSA/UMDA assessment etc.
• Ensure integrity of the General Ledger, Trial Balance, journal entries, reconciliation processes and control environment. GLAO reconciliation undertaken on a timely basis.
• Month end closing process, revenue and expense recognition including accruals, prepayments, provisions, fixed assets and lease liabilities etc. Perform review of profit/loss and balance sheet and explain fluctuations.
• Ensure appropriate expense accruals and manage accounts payable to ensure compliance with the Group's Delegation of Authority.
• Compliance with local and Group Finance related policies. Responsible for the review and updating of local policies, accounting treatment and operating procedures for the finance function. Partner Head Office Finance to formulate local policies, where required.
• Monitor and manage foreign currency profit & loss exposure to comply with DBS Group Standards.
• Escalation of financial control, regulatory report or control issues. Timely recording and escalation of issues and incidents.
• Prepare accurate and timely tax calculations, returns and remittances to comply with Australian Tax obligations. Monitor completion of tax obligations and periodic reporting to local committees.
• Preparation of Corporate Income Tax Instalments, Goods & Services Tax (GST), Interest Withholding Tax (WHT), quarterly Business Activity Statements (BAS) and annual Corporate Income Tax Return (ITR), Transfer Pricing Review, Country by Country reporting.
• Preparation of Taxable Income, Deferred Tax Asset/ Liability and Income Tax Provision.
• Calculation of Interest WHT applying Libor Cap and remittances to ATO. Assist in co-ordination, review and lodgement of Annual Investment Income Report (AIIR) for Interest WHT.
• Preparation of support for the Corporate Income Tax return including debt deductions, international dealings and calculation of Thin capitalisation for deductibility of debt.
• Documentation of policies and procedures, internal controls for Tax Governance purposes.
• Work with external tax advisors to co-ordinate technical advice and clarifications to manage tax affairs.
• Work with finance and other cross-functional teams to implement and improve end-to-end tax processes and procedures to mitigate risks.
• Provide updates on tax related matters and issues to Head of Finance, Public Officer, Group Tax and local committees.
• Preparation of information and data for local transfer pricing review and lodgement requirements, documentation, timelines to minimise tax risk consequences.
• Assist in preparation of FBT return, review of meal and entertainment expenses for FBT purposes.
• Preparation of information or data required by auditors, regulators, or tax authorities are accurate, complete, and meets the specific requirements.
• People
• Provide training to local finance team, other support units or business areas to develop understanding of accounting and tax related matters.
• Stakeholder Management
• Maintain close engagement with key stakeholders including Head of Finance, Public Officer, Local Branch Management, Group Finance and Group Tax colleagues.
• Summarise and present finance and tax technical related matters in sufficient form and simplified content to enable understanding.

Experience & Qualifications

• Minimum 5+ years' experience in delivering accounting and tax compliance services gained in a profession service environment of a Big 4 accounting firm.
• Proven experience in Australian corporate income tax, Goods and Services Tax, transfer pricing and withholding tax.
• ADI or foreign ADI banking experience.
• Relevant qualifications in Accounting and Australian tax.
• Chartered Accountant/ CPA.
• Postgraduate academic qualifications such as MBA or Masters are highly regarded.

Seniority level

• Seniority levelAssociate

Employment type

• Employment typeFull-time

Job function

• Job functionFinance
• IndustriesBanking

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