Accountant – Structured Finance Group
5 days ago
Primary Location
Volkswagen Financial Services, a wholly-owned subsidiary of Volkswagen Group, is the trusted key to mobility for its brand partners. We are committed to supporting the Audi, Ducati, and Volkswagen brands and their Dealers, specializing in providing accessible mobility solutions for its Customers. The company's offerings include Retail Leasing, Retail Financing, Commercial Financing for new and used vehicles, and End-of-Term vehicle disposition.
Role Summary:
The Financial Specialist – ABS role supports VCI's derivatives portfolios asset-backed securitization (ABS) programs and debt financing in a team-oriented environment with emphasis on analysis, documentation, and compliance.
Role Responsibilities:
1. Support the company's hedge accounting programs including:
- Provide analytics and accounting support in the development of hedging strategies under IFRS 9.
- Provide data input, maintain model used by treasury in interest rate risk management.
- Prepare hedge accounting documentation, perform effectiveness testing and analysis.
- Prepare accounting entries and reporting under International accounting standards.
- Develop understanding of Treasury activities.
- Analyze various general ledger accounts/supporting schedules and reconcile as necessary.
- Prepare supporting schedules for the company's financial statements and footnotes.
- Keep current on existing and emerging issues in accounting/banking to assist in meeting accounting and regulatory requirements.
- Develop recommendations/action plans to improve processes and controls to eliminate or mitigate risks related to financing and hedging programs.
2. Support the company's ABS program including:
- Assist the structuring team in the development and design of ABS programs including:
- Review, interpret, and validate sections of the offering and legal documents.
- Assist in asset pool selection, analytics, and modeling cash flows.
- Respond to requests and communicate with treasury, tax, legal, risk management, investment bankers, and outside legal counsel.
3. Maintain and/or develop specialized accounting and servicing support for ABS transactions under International accounting standards and related regulations including:
- Asset selection and removal based on established criteria.
- Assist with maintenance of ABS systems and database records.
- Monitor pool performance for compliance with investor triggers and regulations.
- Prepare monthly servicing reports, journal entries and supporting documentation.
- Prepare monthly and annual SEC filings for public ABS transactions.
- Coordinate annual servicing audits performed by external accountants.
- Develop and maintain control procedures for ABS transactions under SEC Regulations.
- Keep current on existing and emerging issues in accounting/banking to assist in meeting accounting and regulatory requirements.
4. Undertake special assignments including the resolution of problems and assistance in the development of new processes and support systems.
Experience:
Required –
- 5-7 years of professional experience
- Minimum 3-5 years professional accounting and financial analysis experience
Education:
Required –
- Bachelor's Degree in Accounting, Finance or Business
Desired –
- Master's Degree in Accounting, Finance or Business
General Skills:
- Analytical and conceptual thinking – using logic and reason, being creative and strategic.
- Self-starter with solid organizational skills.
- Ability to work independently and effectively manage multiple priorities.
- Strong problem solving skills and attention to detail.
- Demonstrates a "can-do" positive attitude with willingness to learn and then be able to apply.
- Ability to work cooperatively with others in a team environment.
- Demonstrates assertiveness, influencing, and negotiation skills.
- Communication skills – interpersonal, presentation and written.
Specialized Skills:
Required –
- Extensive personal computer financial applications knowledge & experience
- Highly proficient in MS Excel and Word. Advanced knowledge in Excel understanding concepts of databases, PIVOT tables, filtering data, use of mathematical, logical and statistical functions.
Desired –
- Certified Public Accountant
- Treasury and/or banking experience.
- Understanding of automotive financing business.
- Influencing and negotiation skills.
- Resource management.
Work Flexibility:
- Minimal, 5%, travel may be required.
Volkswagen Financial Services is committed to diversity and inclusion in the workplace. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, family status, gender identity, gender expression, national origin, age, disability or any other characteristic protected by federal, or local laws. Volkswagen Financial Services is committed to accommodating applicants and employees with disabilities. Should you require an accommodation during the recruitment and selection process please advise in advance.
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