Senior Hedge Accounting Manager
3 weeks ago
Position Title: Senior Hedge Accounting Manager
Company: BMO Financial Group
Role Overview:
- Manage comprehensive hedge accounting practices in accordance with IFRS 9 / IAS 39 for the organization.
- Act as a reliable consultant to Corporate Treasury, Capital Markets divisions, and the Market Risk Group, overseeing all hedge accounting entries within the Bank's financial records. Provide strategic insights and develop well-thought-out solutions that comply with hedge accounting regulations and corporate policies.
- Proactively collaborate with both internal and external auditors, nurturing a cooperative relationship to protect the interests of shareholders. Serve as a key point of contact for colleagues and industry organizations regarding hedge accounting guidelines or methodologies to integrate varied viewpoints.
- Lead the prompt generation of monthly, quarterly, and annual reports concerning the Bank's hedge accounting, ensuring adherence to SOX regulations.
- Drive strategic projects and transformation initiatives, identifying opportunities for enhancement or control improvements, working alongside stakeholders to tackle operational issues, optimize workflows, and boost efficiency through automation.
- Establish and maintain trust with leadership by consistently delivering effective executive communication and regular updates.
- Promote a culture that aligns with BMO's mission, values, and strategic objectives, exemplifying BMO's principles and behaviors in all actions.
- Ensure that values and behaviors are aligned to foster diversity and inclusion within the workplace.
- Continuously connect work to BMO's mission, set motivating goals, define clear expected outcomes, and ensure accountability for follow-through.
- Build collaborative teams that work across various functions and operational groups to maximize value for all stakeholders.
- Attract, retain, and support the professional growth of top talent.
- Enhance team performance, acknowledge and reward achievements, mentor employees, support their growth, and address underperformance.
- Provide strategic insights into business decisions as a trusted advisor.
- Make recommendations to senior management and oversee the implementation of components of the accounting policy strategy.
- Serve as a subject matter expert on relevant regulations and policies.
- Influence and negotiate to meet business objectives.
- Identify emerging trends and issues to guide decision-making.
- Make policy, standards, and strategy recommendations for identified controller-managed risks.
- Support the execution of strategic initiatives in partnership with internal and external stakeholders.
- Assist in determining business priorities and the optimal sequence for executing business/group strategy.
- Conduct independent analyses and assessments to resolve strategic challenges.
- Define business requirements for analytics and reporting to ensure data-driven insights inform business decisions.
- Lead the implementation of accounting policy programs; evaluate and adjust as necessary to ensure quality execution.
- Monitor new accounting standards and assess their impact on policies and standards.
- Assist in crafting tailored communications regarding accounting policy changes and their implications, which may involve writing, editing, and disseminating information.
- Support the creation of financial statements and disclosure documents to ensure that consolidated Bank results comply with International Financial Reporting Standards and regulatory requirements.
- Act as a primary liaison with internal and external regulatory bodies and industry groups to provide feedback on significant accounting issues and financial reporting matters.
- Prepare reports on accounting policy matters for senior management and relevant industry and regulatory bodies as needed.
- Develop effective relationships with internal and external stakeholders.
- Analyze strategic problems, data, and information to provide insights and recommendations.
- Conduct analyses to support the design and development of Accounting Policy strategies and programs.
- Utilize systems (e.g., customized exception reports, tracking reports, etc.) to manage information effectively.
- Integrate information from various sources to facilitate more efficient processes, enhanced analysis, and streamlined reporting.
- Deliver timely, accurate, and efficient service.
- Operate at a group/enterprise-wide level and serve as a specialist resource for senior leaders and stakeholders.
- Apply expertise and think creatively to address unique or ambiguous situations and devise solutions to complex, non-routine problems.
- Implement changes in response to evolving trends.
- Additional responsibilities may be assigned as necessary.
Qualifications:
- Typically requires 7+ years of relevant experience and/or certification in a related field of study or an equivalent combination of education and experience.
- Preferred qualifications include one or more of the following: MBA, CA, CFA, CGA, CMA.
- Advanced understanding of SOX, IFRS, and GAAP requirements and their potential impacts.
- Ability to interpret policy/program direction and realign/develop strategies accordingly.
- Experienced professional with a blend of education, experience, and industry knowledge.
- Exceptional verbal and written communication skills.
- Strong analytical and problem-solving abilities.
- Influence and negotiation skills.
- Collaboration and teamwork skills, emphasizing cross-group collaboration.
- Able to manage ambiguity effectively.
- Data-driven decision-making capabilities.
Compensation and Benefits:
$92,171,600.00
Pay Type:
Salaried
Our Commitment:
At BMO, we are motivated by a shared Purpose: Boldly Grow the Good in business and life. This commitment drives us to create lasting, positive change for our customers, communities, and employees. By collaborating, innovating, and challenging boundaries, we transform lives and businesses, fueling economic growth globally.
As a member of the BMO team, you are valued, respected, and heard, with numerous opportunities for growth and impact. We aim to help you make a difference from day one – for yourself and our customers. We provide the tools and resources necessary for you to achieve new milestones while assisting our customers in reaching theirs. From comprehensive training and coaching to managerial support and networking opportunities, we facilitate valuable experiences and skill enhancement.
BMO is dedicated to fostering an inclusive, equitable, and accessible workplace. By learning from each other's differences, we strengthen our organization through diverse perspectives. Accommodations are available upon request for candidates participating in all aspects of the selection process. To request accommodation, please contact your recruiter.
Note to Recruiters: BMO does not accept unsolicited resumes from any source other than directly from a candidate. Any unsolicited resumes sent to BMO, directly or indirectly, will be considered BMO property. BMO will not pay a fee for any placement resulting from the receipt of an unsolicited resume. A recruiting agency must first have a valid, written, and fully executed agency agreement contract for service to submit resumes.
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