Senior Manager Property Finance, Hong Kong Senior Manager Property Finance, Hong Kong …

Standard Chartered Bank
in Hong Kong
Permanent, Full time
Be the first to apply
Standard Chartered Bank
in Hong Kong
Permanent, Full time
Be the first to apply
Standard Chartered Bank
Senior Manager Property Finance, Hong Kong
About Standard Chartered
We are a leading international bank focused on helping people and companies prosper across Asia, Africa and the Middle East.

To us, good performance is about much more than turning a profit. It's about showing how you embody our valued behaviours - do the right thing, better together and never settle - as well as our brand promise, Here for good.

We're committed to promoting equality in the workplace and creating an inclusive and flexible culture - one where everyone can realise their full potential and make a positive contribution to our organisation. This in turn helps us to provide better support to our broad client base.

  • The primary purpose of the role is to ensure that Hong Kong (HK) has a consistent, transparent and robust financial framework to support the management of its Property portfolio. Given the significance of the HK market, this role will be dedicated to HK and will have specific responsibility for the financial control and performance tracking of the HK Property portfolio and Property related projects.
  • The job currently carries direct involvement with the Bank's Hong Kong based properties.
  • It will be responsible for forecasting, budgeting and overall support of the business performance management through effective financial analysis and providing insights to the Property Management team as applicable.
  • It will also manage all aspects of financial control, management information reports and data relating to the Bank's premises in the HK.
  • Another key objective will be to seek improvement in the financial management of the HK property estate by mentoring, training and process re-engineering property related staff and processes. The improvements made in this area will be measured by more accurate accruals and forecasts during the year.

The Role Responsibilities

The key responsibilities of this role cover:
  1. Annual Premises Cost Budget
  • To prepare the annual budget for the Bank's HK property portfolio. Includes liaison with section heads within the HK Property team, local Country Finance and representatives, and to ensure all elements of property and facilities management are incorporated.
  • To analyse monthly reports incorporating year to date variance explanations and monthly forecasts.
  • To prepare accrual and prepayment provisions for each month-end in order to regulate expenditure as evenly as possible over the course of the budget year.
  1. Management of Leasehold Financial Responsibilities - Commercial and Residential
  • To have oversight of building rent, business rates and service charges, and ensure they are correct for the HK property portfolio and that payments to landlords are made on time and payments from subtenants are received on time and dealt with in similar fashion.
  • To ensure compliance with the lease accounting standard IRFS16 for commercial property leases through partnering with the IRFS16 team, Group Accounting Policy and the Property team, inclusive of the Asset Management Outsourced Partner.
  1. Financial Reporting and Analysis / Performance Management
  • To provide insight for improved business decision-making through regular and accurate financial analysis, commentaries and reporting of business performance.
  • To report Performance Metrics, Quarterly Reviews, Risks and Opportunities, Key Performance Indicators and variance analysis of ongoing premises costs and proposed acquisitions or disposals.
  • To provide a monthly financial briefing to the Head of Property, HK.
  • To establish a Property forecast & budget process.
  • To oversee the Total Occupancy Cost monthly returns to Group Property for all HK properties.
  1. Financial Control
  • To ensure consistent implementation of the Group Financial policies with regard to the HK Property portfolio.
  • To ensure robust financial control of HK Property projects and balance sheet items.
  • To ensure accuracy and integrity of the financial accounts relating to the Real Estate portfolio.
  • To implement effective financial control processes and framework, with regular reviews of service providers to challenge and ensure optimal costs for the department.
  • To be responsible for monthly reconciliations of the PSGL to in-house tracking systems and Peoplesoft Financial Control of sundry and suspense accounts.
  • To provide advice and guidance on selected areas of Finance to key stakeholders in order for the business team to take more effective and proactive decisions. Where value can be added, to implement process re-engineering to improve the effectiveness and efficiency of the financial control processes.
  • To ensure HK is adhering to the correct policies for property recharges, provide guidance to Country CFO and implement controls that do not comply with policy. Work with in-country Property head to enrich the understanding of the practices in country.
  • To ensure rigorous scrutiny around costs that are not recharged and end up in "Property Centre", full transparency on these costs including vacant desks, notional rent and the cost of office refurbishments that benefit all occupants.
  • To ensure consistent implementation of the Group Financial policies with regard to the HK Property portfolio.
  1. Property Costs Recharges
  • To manage the monthly premises recharge schedules in respect of the HK portfolio. This includes, where necessary, liaison with HK Property Project Managers, local country Finance and the business cost centre budget holders to ensure correct recharging following relocations and general space reorganisations.
  • To ensure that all other premises recharges for HK are processed on a monthly basis in line with Web-Core allocation, in liaison with HK Property Project Managers, local country Finance and the business cost centre budget holders, to ensure correct recharging following relocations and general space reorganisations.
  • To provide full transparency between the cost of Retail branch premises costs v. Retail office costs and the coordination of the booking across all countries in the region.
  1. Project Work
  • To provide effective management of any financial project costs relating to HK property works, working with the Bank's Outsourced Supplier Partner.
  • To have working knowledge of Clarity and project accounting and review of PEDs for the projects in the HK. To provide oversight of the Property investments and sign off of the monthly investment financials and provide input into the Financials for the PEDs.
  1. Strategy
  • To understand the Group's Strategy for Property and its impact on the HK property estate including the reduction of desks and square footage, the desk to headcount ratio, asset sales, and the Retail branch Strategy.
  • To work with the property Partners and be able to articulate the Strategy with the Financials.
Our Ideal Candidate

  • Detailed knowledge of the Group's Financial Policies relating to property.
  • Understanding of the Group's Property strategy.
  • Experience of the Group's Financial systems and processes.
  • Understanding of the Financial Risks relating to property.
  • Awareness of the HK Property environment.
  • Managing staff and issues (including Service Providers) in a different structure.
  • Understand different property reporting and regulatory requirements for HK.
  • All aspects of the job require sound judgement particularly in recommending a course of action after weighing all options and alternatives.
  • Some aspects of the job are particularly complex and require some skill in lateral thinking. This is particularly relevant in regard to property planning, lease negotiations and acquisitions and disposals, which can involve a number of alternatives each having positive and negative aspects which need proper consideration.

Apply now to join the Bank for those with big career ambitions.

To view information on our benefits including our flexible working please visit our career pages . We welcome conversations on flexible working.
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