Scribd Logo
Upload

Welcome to Scribd!

  • 190 views

    Finance

    Uploaded by

    kiranaisha
    The Finance department at Barclays Mauritius employs 29 staff and is responsible for all major financial activities of the bank. It aims to provide excellent customer service and guidance to both internal and external customers. The department handles regulatory reporting, group reporting, statutory reporting, tax administration, business performance analytics, general ledger control, fixed asset management, finance data analysis, and accounts payable. It is led by the Finance Director Franco Davis and ensures accurate and timely reporting and compliance with all financial and tax regulations.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as DOCX, PDF, TXT or read online from Scribd

    Finance

    Uploaded by

    kiranaisha
    190 views3 pages
    The Finance department at Barclays Mauritius employs 29 staff and is responsible for all major financial activities of the bank. It aims to provide excellent customer service and guidance to both internal and external customers. The department handles regulatory reporting, group reporting, statutory reporting, tax administration, business performance analytics, general ledger control, fixed asset management, finance data analysis, and accounts payable. It is led by the Finance Director Franco Davis and ensures accurate and timely reporting and compliance with all financial and tax regulations.

    Original Description:

    finance

    Copyright

    © Attribution Non-Commercial (BY-NC)

    Available Formats

    DOCX, PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    The Finance department at Barclays Mauritius employs 29 staff and is responsible for all major financial activities of the bank. It aims to provide excellent customer service and guidance to both internal and external customers. The department handles regulatory reporting, group reporting, statutory reporting, tax administration, business performance analytics, general ledger control, fixed asset management, finance data analysis, and accounts payable. It is led by the Finance Director Franco Davis and ensures accurate and timely reporting and compliance with all financial and tax regulations.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    190 views3 pages

    Finance

    Uploaded by

    kiranaisha
    The Finance department at Barclays Mauritius employs 29 staff and is responsible for all major financial activities of the bank. It aims to provide excellent customer service and guidance to both internal and external customers. The department handles regulatory reporting, group reporting, statutory reporting, tax administration, business performance analytics, general ledger control, fixed asset management, finance data analysis, and accounts payable. It is led by the Finance Director Franco Davis and ensures accurate and timely reporting and compliance with all financial and tax regulations.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 3

    Finance Barclays Mauritius Finance is at the centre of all major financial activity of the Bank, employing 29 talented, hardworking

    and highly skilled staff. Recognised as being one of the best finance teams across the EM territory and having won the Barclays Africa Best finance Team award in 2006, Barclays Mauritius Finance has a wide spectrum of customers ranging from EM and GRCB finance, regulatory bodies (Central Bank, MRA, etc.), suppliers, internal functions and even the public at large. Customer service is at the heart of our operations and our objective has always been that of being the partner of choice of our customers, responding to their needs and providing them with the best possible finance guidance. The following activities fall under Finance's umbrella. Reporting

    Group Reporting Mauritius Finance is accountable to the Regional Head Office. Barclays Group has its own set of requirements which ranges from financials like P&L, balance sheet, WRAs, product profitability, etc. to non-financial data (volume of transactions, number of outlets, staff count etc..). Members of this sub team equally look after the elimination process which primarily consists of the reconciliation of balances due by or to us, with that of counterparts within the Barclays Group and perform financial analysis on country data which is ultimately consolidated at UK Head Office level for presentation to the UK Regulators and public at large. The Group Reporting team has pledged to ensure that financial reporting to the Regional Office is accurate, of high quality and submitted on a timely basis. It should be noted that Mauritius Finance has been regularly in the top position in terms of meeting deadlines and quality of submissions with the former Barclays Africa set-up comprising of 10 African countries. By the end of 2011, the Barclays Africa Regional Office (BARO) has moved to Johannesburg in South Africa and is now responsible for managing 13 African countries.

    Regulatory Reporting Finance is responsible for the submission of 51 returns to the Bank of Mauritius, of which, 35 are prepared in-house. A dedicated team is in place to cater for the timely preparation and despatch of these whilst remaining at the disposal of Bank of Mauritius officers or inspectors in case of any queries. These returns primarily focus on the Balance Sheet, Profit and Loss account, and liquidity positions of the Bank whilst ensuring that the latter is abiding by set guidelines. The team is committed to protect the bank's reputation by ensuring compliance with all applicable financial reporting and tax regulations and legislations.

    Statutory Reporting This section is responsible for the preparation, record keeping and publication of the Bank's financial statements which must be compliant with the Companies Act 2001 and Banking Act 2004. These people are the prime contact of the Bank's auditors and are equally there to coordinate and help in the audit process. Note that as per current legislation, the Bank is bound to publish its accounts in the local papers before the 31st of March yearly; a deadline which has always been respected.

    Tax Administration Finance is responsible for the monthly calculation, filing and payment of VAT (Value Added Tax) which is collected from certain categories of our fees and services. Corporate tax computations for both local and UK tax reporting, filing and payment are equally carried out by this team. These people have committed to protect the banks reputation by ensuring compliance to all tax legislations

    Business Performance and Analytics

    The role of this sub department is two fold: the analytics side and the business partnering side. The Business Performance and Analytics team is committed to provide business functions with accurate information on their financial performance with quality commentaries on a timely basis. Major responsibilities include the following:

    Business Partnership o Monthly reporting of functional performance versus budget / RAF Revised Annual Forecast) o Liaising with functions to highlight areas of excellent or poor performance o Branch wise reporting o Preparation of the countrywide and functional budgets in line with predefined strategies o Preparation of business cases in respect of financial forecasts o Dissemination of finance knowledge to colleagues Analytics o Centralised MI Team ( Ops MI, Risk MI, Regulatory Input) o Identification and provision of value adding MI and analysis to business leads to build strategies and improve our performance. o Monitoring and settlement of recharges o Monitoring of product profitability o Monthly GBID reporting - reporting of monthly performance on a management account basis by segment and by product

    Financial Control & Governance

    General Ledger Control Finance monitors all internal accounts which have been opened to sustain the Bank's operations. The General Ledger Control team ensures that the system of internal controls in respect of financial reporting, general ledger and accounts payable is sound and effective. Through control upon opening of accounts and entries being passed through these accounts, Finance reduces the scope for frauds and inappropriate accounting treatment of transactions occurring.

    Fixed Asset Management All dealings in fixed assets, i.e., sale / scrap / purchase, are monitored and recorded at Finance by the Fixed Asset Management. Fixed assets represent huge investments made by the Bank and are mostly in terms of logistics and building. This team controls the asset part of the bank including the monthly depreciation process and yearly physical checks

    Finance Data Analysis The main role of this team is to ensure that data held on Brains, SAP & TM1 are up-todate and to maintain and continuously improve the system of internal financial controls, review reports on and embed improvements and recommendations from external and internal Audit. The main responsibilities can be summarized below:Monitor on daily basis amendments to critical Financial fields onto the legacy system (Dr Accruals Amendments) o It is also responsible for making extensive use of the Barclays Data Warehouse (EMDW) to support Finance requirements. o Ensure that we comply with Records Management Framework. o Involvement in Finance related projects and MI Work-stream Treasury Middle Office (TMO)

    The main role of Treasury Middle Office (TMO) is to monitor Treasury risk exposures, Treasury Profit & Loss (FX & interest income); and the means of controlling and

    reporting them. TMO also provides independent price verification, Treasury product P&L validation and accuracy of reporting and position reconciliation. To ensure proper segregation of duties, the Treasury Middle Office Manager reports to the Finance Director. Accounts Payable This sub segment of Finance is responsible for the payment of claims presented to the Bank for goods and services provided by vendors. Duties equally include the call over and scrutinizing of vouchers processed. The Accounts Payable team has pledged to ensure that payments to employees and suppliers are effected promptly within agreed timeframes. The Finance department is headed by the Finance Director, Mr. Franco Davis and its senior managers include Ravi Nundhoosing (Head Of BP&A), Darren Li Shing Fong (Head Of Financial Reporting), Sam Vassily (Head Of Treasury Middle Office and overseeing Finance Control & Governance functions. For more information, please contact: Franco Davis Finance Director Tel: + (230) 404 1718 Fax: + (230) 467 5782 Email: franco.davis@barclays.com Our mailing address : Barclays Bank PLC - Mauritius Branch Finance Department 5th Floor, Barclays House 68-68A Cybercity, Ebene

    http://www.barclays.com/africa/mauritius/barclays_finance.htm

    You might also like

    pFad - Phonifier reborn

    Pfad - The Proxy pFad of © 2024 Garber Painting. All rights reserved.

    Note: This service is not intended for secure transactions such as banking, social media, email, or purchasing. Use at your own risk. We assume no liability whatsoever for broken pages.


    Alternative Proxies:

    Alternative Proxy

    pFad Proxy

    pFad v3 Proxy

    pFad v4 Proxy