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ICS Associate Director - Richemont

Employer
Richemont
Location
Shanghai, China
Closing date
23 Jun 2020

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Function
Finance
Level
Entry Level / Assistant
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Job Details

Richemont

JOB TITLE ICS Associate Director

REPORTING TO Finance Director, Controlling & ICS

LOCATION Shanghai, China

OBJECTIVES

Reporting locally to the RCCL Finance Director for Controlling and ICS and functionally to the Regional Compliance Manager based in Hong Kong, the Job Holder will:
  • Define and rollout the controls framework and the wider internal governance of RCCL, in conjunction with Maisons and Functions stakeholders (Local CEO, Local Maisons Managers, Functional Directors, Regional and Group ICS);
  • Constantly update this Controls Framework to take into account new processes, new systems or new business activities;
  • Leverage on new technologies and effectively and efficiently enforce this Controls Framework.


To achieve the above objectives:
  • the job holder will manage a team of 5 ~ 6 staff;
  • frequent travel within Mainland China will be required, in order to assess/reinforce this Controls Framework at both corporate and retail levels.


This is a highly visible role to all Maisons and functions in Mainland China.

KEY CHALLENGES
  • Handling a complicated matrix-based organization
    Communicating effectively with multiple stakeholders at all levels in Maisons and functions
  • Enforcing a consistent application of the Controls Framework
  • Enhancing the profile of the ICS Function in a highly customer-centric environment
  • Developing and maintaining a high-performance team in a dynamic environment
  • Working with certain manual processes running on legacy systems planned to be upgraded over the course of the coming financial year


MAIN RESPONSIBILITIES AND TASKS

Internal Controls framework and Compliance

Using in-depth knowledge of the luxury retail business, Company operations and objectives, the job holder will:
  • Perform the assessment of the main risks faced by the Company
  • write the local Internal Controls framework of the Company, in alignment with the Regional and Group Frameworks, i.e. the job holder will define all the control activities that are necessary to provide reasonable assurance to Company Management that:
    • Operations are effectively and efficiently controlled; Assets are safeguarded
    • Reportings to Local Authorities and to Company/Group Management are accurate, timely and complete
    • Compliance with local laws and Company P&P is achieved
  • obtain Local and Regional Management validation for this Framework


The job holder will then:
  • communicate this framework to Maisons and functions, to embed it in daily operations,
  • review its effective rollout and compliance of operations with this framework, through selected testing and reviews by his/her team
  • report instances of non-compliance with this Controls Framework to Local/Regional management
  • Help formulate plans with Business Owners for remediating these cases of non-compliance (regardless of whether they are identified by internal/external auditors, the ICS team, Management, etc.) with prioritisation based on risk mitigation
  • Help deliver remediation plans (e.g. through the production and/or delivery of trainings and presentations)


The job holder will also:
  • regularly adapt this Controls Framework to new requirements, e.g. new processes or IT systems (e.g. SAP) or new business models (e.g. e-commerce)
  • 'upgrade the productivity' of this Controls Framework by transferring as many control activities as possible from detective and manual, to automated and preventive
  • regularly improve the ICS Team's productivity, by leveraging on new techniques and new technology to speed up or widen the coverage of compliance testing and reviews


Throughout the above, the job holder will aim to:
  • raise the profile of the ICS Function in the Company in a 'challenging partnership' with Business Owners
  • reinforce awareness and ownership among all Maisons and functions of internal control requirements


Team management
  • Manage (i.e. recruit, develop, retain) the team of 5~6 Compliance and Control officers who will be delivering the comprehensive reviews, boutique reviews, selected testing, training to operational teams, reporting to Group, etc.


MAIN DELIVERABLES

Coordination with APAC and Group ICS
  • Align with Group, Regional and other markets' ICS and Internal Audit teams on internal control issues
  • Stay up-to-date with the Group's ICS review methodology and with Group and Regional Policies and Procedures; Participate in best-practice sessions


Design and implement the Company-wide Internal Controls framework
  • Working with APAC Regional ICS, China Maisons and Function Heads, identify the main internal control risks (and their likelihood and impact)
  • Design internal controls accordingly
  • Perform testing on selected risky transactions; perform special reviews, as identified from time to time by Management
  • Develop the monitoring processes and tools to mitigate residual risks
  • Develop the escalation procedures and Management response framework, in cases of non-compliance


Engagement with and support to Internal and External Auditors
  • Upon their request, provide support to internal, external and Responsible Jewellery Council auditors in the course of their audits
  • Discuss and validate with them their Internal Control points
  • Provide formal responses in liaison with the relevant Function or Maisons Managers


ICS Reporting to Group

In line with Group requirements,
  • ensure control owners in Maisons and Functions have correctly, completely and timely updated the Group's I-CARE reporting, including creation of new control activities and progress update of remediation plans


Supervision of ICS Boutique Reviews

In line with Group requirements,
  • ensure the accurate and timely planning, performance, reporting and follow-up of Boutique Reviews by the ICS team, covering in particular, revenue recognition manipulation, unusual discounts, exchange & refunds; abuse of sales staff incentive schemes, deposits, AML, RJC compliance, etc.


CANDIDATE PROFILE

Education / Qualifications
  • University Degree graduate or above, preferably with major in Business / Accounting / Finance / Law
  • Certified Internal Auditor or equivalent (e.g. CPA) with in-depth knowledge of International Accounting and Auditing Standards
  • CISA qualification will be a real 'Plus'

Experience
  • 10 to 15 years of experience at large multinational companies with multiple stakeholders in a matrix organisation, including at least 5 years in managerial positions in Internal Control Systems (or US SOX/UK Financial Governance); Internal Audit/Compliance or Consultancy roles
  • Knowledge of or experience in launch of SAP; and Exposure to IT-based audits and RPA will be a real 'Plus'
  • The candidate should ideally have experience in large scale physical retailing & e-Commerce in China.


Communication skills
  • Excellent interpersonal and communication skills; ability to interact at all levels of the organization
  • Fluent written and spoken English and Mandarin
  • Excellent report-writing and presentation skills


Personal attributes
  • Advanced team leadership and interpersonal skills
  • Proven team development track record
  • Strong analytical skills
  • Excellent Project management skills
  • Strong business acumen
  • Ability to leverage on new software, RPA, systems audit experience, etc.


Behavioral competencies
  • Open-minded team player with impeccable integrity
  • Independent, mature and self-motivated, demonstrating a proactive and "can-do" attitude
  • Capacity to deal with deadlines
  • Analytical and detail-minded but with good global view
  • Highly agile and able to deal with ambiguity

Company

With some +35,000 colleagues worldwide, the Group comprises 18 Maisons and two online distributors. We apply our avant-garde mindset, artistic vision and craftsmanship to watch-making, jewellery, writing instruments and high-end fashion and accessories. Each Maison and e-commerce platform functions as an international business with a family feel and is led by an entrepreneurial spirit and respect for tradition, making the Group a game changer in the high luxury industry. Innovation is at our core. Our history is marked by the achievements of our people. They push the limits and turn the ordinary into the extraordinary. By encouraging innovation across our business and making it a priority, we deliver the ultimate high luxury experience. They participate in groundbreaking ventures like the YNAP/Alibaba startup and our own research and development hub Micro city. Focused on the horizon, the Group maintains its position as an established industry leader.

Company info
Location
Geneva
CH
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