Senior Hedge Accounting Manager
3 weeks ago
Position Title: Senior Hedge Accounting Manager
Company: BMO Financial Group
Role Overview:
- Manage comprehensive hedge accounting functions in accordance with IFRS 9 / IAS 39 for the organization.
- Act as a key advisor to Corporate Treasury, Capital Markets divisions, and the Market Risk Group, overseeing all hedge accounting entries across the Bank's financial records. Provide strategic insights and develop well-informed solutions that comply with hedge accounting regulations and the institution's policies.
- Proactively collaborate with both internal and external auditors, nurturing a cooperative relationship to protect the interests of stakeholders. Serve as a primary resource for colleagues and industry associations regarding hedge accounting policies and practices to integrate various viewpoints.
- Lead the timely preparation of monthly, quarterly, and annual reports concerning the Bank's hedge accounting, ensuring adherence to SOX standards.
- Drive strategic projects and transformation initiatives, identifying opportunities for enhancement or control improvements, working with stakeholders to tackle operational challenges, streamline workflows, and boost efficiency through automation.
- Cultivate trust with leadership by consistently delivering effective executive communication and regular updates.
- Promote a culture that aligns with BMO's mission, values, and strategy, exemplifying BMO's values and behaviors in all actions.
- Ensure that values and behaviors align to foster diversity and inclusion within the workplace.
- Regularly connect tasks to BMO's mission, set inspiring objectives, clarify expected outcomes, and establish accountability for follow-through.
- Build interdependent teams that collaborate across various functions and operational groups to maximize value for all stakeholders.
- Attract, retain, and facilitate the professional growth of top talent.
- Enhance team performance, acknowledge and reward achievements, mentor employees, support their development, and address performance issues effectively.
- Provide strategic input into business decisions as a trusted advisor.
- Make recommendations to senior management and oversee the implementation of a segment 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 processes.
- Recommend policies, standards, and strategies for managing identified controller-related 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 strategies.
- Conduct independent analyses and assessments to resolve strategic challenges.
- Define business requirements for analytics and reporting to ensure data-driven insights inform decision-making.
- Lead the implementation of accounting policy programs; evaluate and adjust as necessary to ensure quality execution.
- Monitor new accounting standards and assess their impacts on policies and standards.
- Aid in crafting tailored communications regarding accounting policy changes and their implications, which may involve writing, editing, and disseminating information.
- Support the preparation of financial statements and disclosure documents to ensure that consolidated Bank results comply with International Financial Reporting Standards and regulatory obligations.
- Act as a key liaison with internal and external regulatory bodies and industry groups to provide insights on significant accounting issues and financial reporting matters.
- Prepare reports on accounting policy issues for senior management and relevant industry and regulatory bodies as needed.
- Foster effective relationships with internal and external stakeholders.
- Analyze strategic problems, interpreting data and information to offer insights and recommendations.
- Execute 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 enhance process efficiency, improve analysis, and streamline reporting.
- Deliver timely, accurate, and efficient service in all tasks.
- Operate at a group/enterprise-wide level, serving as a specialist resource for senior leaders and stakeholders.
- Apply expertise and innovative thinking to address unique or complex situations and develop solutions to 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 directives and realign or develop strategies accordingly.
- A seasoned professional with a blend of education, experience, and industry knowledge.
- Exceptional verbal and written communication skills.
- Strong analytical and problem-solving abilities.
- In-depth influence and negotiation skills.
- Collaborative team skills with an emphasis on cross-group cooperation.
- Capable of managing ambiguity effectively.
- Proficient in data-driven decision-making.
Compensation and Benefits:
$92,171,600.00
Pay Type:
Salaried
Commitment to Diversity:
At BMO, we are driven by a shared purpose: to create lasting, positive change for our customers, communities, and employees. By collaborating, innovating, and pushing boundaries, we transform lives and businesses, driving economic growth globally.
As a member of the BMO team, you are valued, respected, and heard, with numerous opportunities for growth and impact. We are dedicated to supporting you with the necessary tools and resources to achieve new milestones while assisting our customers in reaching theirs. From comprehensive training and coaching to managerial support and networking opportunities, we aim to help you gain valuable experience and expand your skill set.
BMO is committed to fostering an inclusive, equitable, and accessible workplace. By learning from our differences, we gain strength through our diverse perspectives. Accommodations are available upon request for candidates participating in all aspects of the selection process. Please contact your recruiter for accommodation requests.
Note to Recruiters: BMO does not accept unsolicited resumes from any source other than directly from candidates. 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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