Senior Manager, Trustee Project - 6 month contract
Financial Services (FS) partner with all areas of CommBank to provide specialist advice on financial management and strategy. This advice covers finance, audit, treasury, investor relations, and property. See yourself in our team
Wealth Management Finance (WM Finance) supports the Senior Leadership Team of the Colonial First State (CFS) business under the Deputy CEO Office to manage and grow its superannuation and platform businesses.
As part of the WM Finance team supporting CFS business, this team partners with the business to:
Do work that matters
- Drive behaviours across CFS to achieve strategic financial objectives
- Provide financial leadership in determining strategic business direction and aligned financial strategies
- Protect, preserve and safeguard WM and therefore CBA assets and balance capabilities, costs and service levels to fulfil WM Finance's responsibilities.
This role plays an integral part of a dedicated team to execute on the project to split the legal entities into the various capacities including Registrable Superannuation Entity (RSE), Responsible Entity (RE), Investor Directed Portfolio Service Operator (IDPS) and Corporate. Your Responsibilities:
We're interested in hearing from people who have:
- Ensure integrity of financial data and reporting and maintain financial controls and relevant framework appropriate to the business. Adhere to the compliance of Group policies including Group Reconciliation Policy. Ensure there will be no increase in entity and financial risks as a result of this project.
- Determine and structure management/statutory P&L, balance sheet and cash flows for each entity - the RSE, RE/IDPS, service companies (if any)
- Determine cost allocation model for each entity
- Define GL structures, journals, mappings, codes etc. for all entities (including cost centre) and update financial processes and controls, create new controls and processes by entity
- Determine capital requirements, Intercompany revenue and cost flows, tax treatments (i.e. Corporate, Income, GST, Stamp duty, capital gains etc.), rebates, exemptions etc.
- Redefine and change all current reporting, financial, management, regulatory, external and statutory reporting
If this sounds interesting, APPLY NOW!
- Degree qualification in finance or similar, post graduate accounting qualification (CA, CPA or equivalent) will be highly regarded
- 10+ years relevant experience working with financial service organization (superannuation, funds management or general wealth management experience preferred)
- Solid experience in financial and management reporting, expense management and analysis, and financial control
- Strong Financial accounting skills (including Statutory accounts/regulatory/capital/external reporting)
- Solid end to end understanding of general ledger and its structures
- Excellent understanding of financial processes and controls
- Proven ability to drive results in a diverse organization (i.e. global, complex, start-up)
- Sound interpersonal and communication
CBA has entered into an agreement with KKR to sell a 55% interest in its CFS superannuation and investments business for total cash consideration of $1.7billion (implying a total valuation of $3.3billion). CBA will retain a 45% shareholding in CFS.
KKR is a leading global investment firm that manages multiple alternative asset classes, including private equity, energy, infrastructure, real estate and credit, with strategic partners that manage hedge funds. KKR aims to generate attractive investment returns for its fund investors by following a patient and disciplined investment approach, employing world-class people, and driving growth and value creation with KKR portfolio companies.
If you're already part of the Commonwealth Bank Group (including Bankwest), you'll need to apply through Sidekick to submit a valid application. We're keen to support you with the next step in your career.
Advertising End Date: 09/07/2021