Manager - FAAS, Bangalore

With technology and the world economy changing at an accelerating pace, organizations need to adapt swiftly and efficiently. Many businesses face increasing levels of risk due to expanding operations in emerging markets and developing countries. Meanwhile, regulatory requirements are escalating and the intertwined forces of globalization and advances in technology are creating new opportunities, but also new risks.

This volatility and velocity have had a profound impact on the Internal Audit (IA) function. EY helps IA balance priorities and resources to help the organization address the risks it faces today, anticipate emerging risks and stay in the game.

The opportunity

FAAS assists EY's advisory clients in solving their complex accounting and financial reporting issues in Indian GAAP, IFRS, US GAAP, or Ind-AS.

FAAS solutions are provided by a senior team - generally, manager and above - with strong financial reporting skills, in-depth sector knowledge, and an advisory mindset.

The challenge of working in the FAAS team is very different from being part of the Audit or Assurance practice or even an industry role, although all of your experience to date will be relevant. Firstly, all assignments are project-based, and the primary skill-set required is one of problem solving not problem identification. In addition, you will very often find yourself working as part of a multi-disciplinary team, alongside EY professionals from the Transaction Support, Advisory, Valuations or Tax team. And at manager level and above, you will be responsible for an account portfolio, developing further opportunities to support our clients.

FAAS is strongly aligned to the accounts and Business Unit structure at EY, which is set up according to sector. This means that you will have the chance to improve your sector knowledge of particular industries. FAAS also has a strong network within EMEIA and the Global firm of EY, which means we can bring the best practices and experiences to bear for our clients in India. It may also offer opportunities for international exposure for FAAS India team members.

All this provides an excellent opportunity to build on the skills and knowledge you have developed to date in audit or in industry, and to increase the breadth of your experience in the financial reporting implications of transactions, business models, systems implementation and tax planning.

FAAS is a small and fast-growing team with excellent exposure to the firm's key clients, and gives excellent growth opportunities for the right candidates.

FAAS solutions include:

FAAS solution

Description/examples of types of projects undertaken by FAAS

GAAP conversions

• Conversion of financial statements from IGAAP to Ind-AS
• Reverse conversion for overseas acquisition (IFRS to IGAAP).

Consolidation implementation & accounting manuals

• Accounting support for client when selecting new consolidation system - for example, elimination entries required or multi-currency reporting
• Preparation of accounting manual for group with multiple entities/jurisdictions - IGAAP or IFRS

Transaction support and financial reporting

• IFRS impact assessment for cross-border acquisition
• EBITDA impact of acquisition
• Carve-out and demerger accounting
• Accounting policy alignment - pre- or post-acquisition

Tax and tax reporting

• Accounting solutions (IGAAP and IFRS) related to tax planning/structuring

IPO preparedness

• Overall assessment of company's readiness from financial reporting/governance perspective for IPO process
• Project manage production of financial information for IPO process

IFRS training, ad-hoc support and on-call services

• Accounting support for new business models
• Tailored training programme for specific company/industry
• White paper/accounting advice on specific transactions

Your key responsibilities

• Manage / execute FAAS projects, develop and implement solutions (see above)
• Identify and develop business opportunities; manage accounts (depending on level)
• Coach junior team members, encourage technical excellence and learning
• Integrate with other EY service lines on multi-disciplinary projects

Contribute to thought leadership and participate in marketing activities

Skills and attributes for success

• Strong IGAAP and/or IFRS and/or US GAAP financial reporting experience in complex/large companies, most likely in Big 4 audit/advisory/transaction vertical or MNC finance/M&A environment
• Ability to explain complex accounting and financial reporting issues simply
• Advisory mindset, ability to develop solutions for the client with support from technical subject matter experts
• Business development skills and aptitude, depending on level. In applicants at Senior Manager and above, a strong track record of business development is expected
• Specific financial reporting experience in at least one of the following:
  • Transactions (acquisitions, carve outs, demergers, restructuring)
  • Preparation for IPO including listing rules in India/UK/US
  • Complex consolidation structure in an MNC environment including implementation of ERP/consolidation IT system
  • Tax planning and complex structures
  • Developing and delivering technical training
  • Specific financial reporting topics: revenue recognition; financial instruments; off-balance sheet financing; consolidation and SPEs; banking; insurance;
• Strong project management skills
• Excellent communication skills

To qualify for the role you must have

Chartered Accountant

Ideally, you'll also have

• 6+ years of post-qualification experience

What we look for

People with the ability to work in a collaborative way to provide services across multiple client departments while adhering to commercial and legal requirements. You will need a practical approach to solving issues and complex problems with the ability to deliver insightful and practical solutions.

What working at EY offers

EY is committed to being an inclusive employer and we are happy to consider flexible working arrangements. We strive to achieve the right balance for our people, enabling us to deliver excellent client service whilst allowing you to build your career without sacrificing your personal priorities. While our client-facing professionals can be required to travel regularly, and at times be based at client sites, our flexible working arrangements can help you to achieve a lifestyle balance.

About EY

As a global leader in assurance, tax, transaction and advisory services, we're using the finance products, expertise and systems we've developed to build a better working world. That starts with a culture that believes in giving you the training, opportunities and creative freedom to make things better. Whenever you join, however long you stay, the exceptional EY experience lasts a lifetime. And with a commitment to hiring and developing the most passionate people, we'll make our ambition to be the best employer by 2020 a reality.

If you can confidently demonstrate that you meet the criteria above, please contact us as soon as possible.

Join us in building a better working world.