About (Balance Sheet Substantiation)

One of the key controls for ensuring the accuracy of Citi's P&L is through ensuring the accuracy of its Balance Sheet. The basis for ensuring this accuracy is through the process of substantiating the balances in the general ledger back to supporting documentation on monthly basis.

Lacking good controls over the Balance Sheet Substantiation (BSS) process can result in inaccurate reporting of the company's Revenues and Expenses and require adjustments including write-offs.

Mumbai BSS team supports various regions such as EMEA countries, India and NAM O&T, LATAM with reconciling, proofing & eRecon submission activities for balance sheet accounts. Currently, the team is handling Full Keys belonging to Finance, Tax, Operation, Treasury, Cash & Fixed Assets.

Role Outline/Job Summary

Ensure the integrity of Balance Sheet accounts through the monthly validation of balances.

Ensure that each account balance is fully substantiated, proofed, aged & submitted in e-Recon.

Identify potential internal control weaknesses.

Ensure compliance with Summaries & BS Directives as rolled out by BSS GPO

Business/ Department

Objectives:

Balance Sheet account Substantiation

Core Responsibilities:

Substantiation/Proofing

Day-to-Day Responsibilities:

• Preparation of Balance Sheet reconciliations for numerous legal vehicles across EMEA to a high standard in line with Corporate guidelines
• Responsible for the follow up and resolution of reconciling items
• Responsible for the accurate reporting of the status of the reconciliations owned into Citi reporting tool ‘eRecon’
• Communicating with Account Owners & Legal Entity Managers across multiple locations on the status of the reconciliations performed
• Escalating any account related issues to Regional Balance Sheet Control

Education:

Post Graduate/ Part qualified accountant.

Experience:

Minimum of 3 years’ experience in an financial control / reconciliation /accounting environment.

Certifications:

• Post-Graduation (1-2 yrs exp)
• MBA (1-2 yrs exp)
• Fresh CA or experienced/ Semi Qualified Cas (1-2 yrs experience)

Skills:

• Analytical skills
• Strong communicator (oral / written)
• Hands-on experience in MS office

Other:

• Ability to meet deadlines
• Ability to use own initiative to resolve issues
• Ability to communicate effectively across all levels