Head of Finance, Philippines
Founded in Chicago in 1889, Northern Trust Corporation (NTC) is a leading provider of asset servicing, asset management and wealth management services including fund administration, investment management, banking and fiduciary solutions for corporations, institutions and high-net-worth individuals worldwide. Northern Trust's Manila, Philippines operations provide asset servicing, services and corporate function services and forms a vital part of NTC's global presence.
We believe our most valuable asset is our engaged, empowered & diverse workforce. As a global institution, Northern Trust is committed to building upon this diverse talent through encouraging innovative thinking and personal courage in an inclusive environment. Northern Trust's commitment to diversity & inclusion is evident in our internal initiatives for which we have won several globally recognized awards.
Northern Trust has demonstrated a continued commitment to investing and expanding in Manila; we have over 1,200 partners in our offices located in Manila.
Role
Responsible for the delivery of all Finance services for the legal entities, the Head of Finance, Philippines is a key business partner in the location working with Line of Business heads and functional leads to achieve Northern Trust's business goals in the jurisdiction.
Reporting into the APAC CFO based in Singapore, the Head of Finance, Philippines is a member of the APAC Finance Leadership Team, supporting the delivery and oversight directly or indirectly of most Finance functions in Manila. The Head of Finance, Philippines also has an indirect reporting line into the Philippines Country Head and is a key member of the Manila, Executive Management Team.
In addition to the technical skills required to oversee the Finance function for financial services entities, the successful candidate will have excellent people management skills, using them to both manage a local team and provide effective oversight for financial processes outsourced to group affiliates.
Individuals with previous banking experience are of particular interest for the role.
Principal Responsibilities
- Responsibility of all business finance activities for the Philippines legal entities, including financial control, regulatory reporting, statutory accounting, business reporting and analysis, management reporting, capital & liquidity management and taxation.
- Primary and direct responsibility for planning, overseeing and directing the activities of the Manila Finance function towards achievement of the Corporation's objectives and for timely briefing and reporting on Finance matters to management, risk and legal entity governance bodies.
- Responsibility for the production and integrity of Philippines's financial information and its regulatory reporting in respect of its activities.
- Participating in the development of the business unit strategic plan and financial budgeting processes and for the provision of financial insights and analysis in support of business decision-making.
- Actively seeks out and value ideas and opinions from others who are different than you; Practice and model inclusive leadership behaviors giving all colleagues an opportunity to contribute to their full potential by identifying and eliminating barriers and bias which prevent this from occurring
- Develop talent through autonomy, trust, and resources – allow room for failure. Ensure all colleagues receive timely and complete feedback, enabling them to improve their overall performance and contribution to the Company
- Lead with energy and speed; set high expectations and take ownership
Other Key Accountabilities
- Oversee an effective management information process, including active engagement with business and functions both locally and globally.
- Primary responsibility in the first line of defence for understanding and managing the risks inherent in the Finance function and for taking reasonable steps to ensure the adequacy of the control and governance arrangements within that function.
- Ensure the requirements of Manila, Finance function are properly supported by a robust infrastructure and that adequate resources, systems and controls are in place to comply with all applicable accounting standards, regulatory requirements, corporate policies and NT corporate governance standards.
- Ensure effective risk management of the activities of Manila, Finance function.
- Support Philippines's Senior Management in providing the Board with sound advice on the organizational objectives, strategy, structure and significant policies.
- Manage key external relationships with Tax Authorities, External Auditors and other key outside stakeholders.
- Manage the preparation and completion of all applicable financial statements
- Ensure that the Manila Finance Function is adequately resourced, that the performance management process is followed with training and development needs appropriately identified and addressed.
- Ensure the ongoing competence and capability of individuals within Manila, Finance function and monitor that team members act with due skill, care and diligence.
- Encourage an environment of employee participation, teamwork and open communication where regulatory compliance is an intrinsic part of the culture and day to day operations of the Philippines business.
- Promote Northern Trust's corporate values of Service, Integrity and Expertise
- Act as a role model and demonstrate behaviours in a way that is aligned to the Conduct framework and enforces the values and ethical standards of the Corporation.
- Proactively drives continuous improvement in the team by stressing the importance of ongoing evaluation of existing processes to promote greater effectiveness.
- Work as part of the wider International Finance function, engaging with other teams to help meet group objectives
Other:
The profile is not an exhaustive list of the activities that the role holder may be required to undertake. The Company may require the role holder to perform other duties as the Company deem necessary to fulfil the requirements of the role.
Relationships:
Internal key stakeholders:
- Global Finance Leadership Team members
- Manila, Executive Management Team
- Legal Entity Board and Committee members
External key stakeholders:
- External Auditors
- External Advisors
- Tax Authorities
Skills /Experience
- Qualified Accountant with expertise in financial control, reporting, UGAAP & IGAAP accounting with emphasis on a running the accounting function for a Global Inhouse Centre
- Advance knowledge & hands on experience in Direct & Indirect taxation for the services business & expert knowledge of PEZA and BOI regulations.
- Experience in handling Tax assessments, interacting with authorities across all regulatory bodies.
- Advance knowledge of Companies Act, Treasury Function in areas of arranging limits with Banks, ECB, placement/ usage/ effective management of idle funds
- Experience to handle a team of professionals & able to handle the matrix reporting structure
- Working knowledge/ oversight of finance operational activities like Procurement and Market
- Experience in handling/ contributing in cross functional projects in areas of Payroll, Facilities, Physical security
- Experience in handling/ executing BCP situation in event of shut down, strikes & natural calamities
- Experience in handling People management with emphasis on Talent development & Talent placement
- Ability to provide direction and leadership to manage staff members and champion new initiatives across all lines of business.
- Excellent analytical and evaluation skills combined with considerable attention to detail.
- Excellent time management and organizational skills.
- Excellent verbal and written communication skills with the ability to adapt to various audiences.
- Flexible approach to process changes and variable workloads.
- Ability to make sound decisions and resolve problems before they escalate.
- Thorough business knowledge and big picture understanding that is likely to have been gained through fifteen or more years of relevant accounting work experience.
