Financial Control Specialist

2 weeks ago


Old Toronto, Canada Royal Bank of Canada Full time

Job Summary

The Royal Bank of Canada is seeking a highly skilled Financial Control Specialist to join its Wholesale Finance group. This role will be responsible for managing financial control responsibilities, delivering timely and accurate financial information, and working on the reporting and production aspects of RBC's Net Investment, Cash Flow & Fair Value hedge accounting programs.

Key Responsibilities

  • Ensure the provision of accurate and complete Financial and Regulatory Reporting for Wholesale Finance results.
  • Manage end-to-end hedging workflows and system operations.
  • Prepare daily inception documentation through validating transaction details; performing effectiveness testing and monitoring counterparty credit risk.
  • Identify and assist in system and process enhancement initiatives.
  • Responsible to ensure new hedges, products and transactions are appropriately captured in RBC Financial Reporting Systems, including the appropriate use of GLs and Financial Statement reporting lines.
  • Ensure SOX and RBC EUC documentation compliance and completeness including new controls/process.
  • Participate in ad-hoc projects as directed by reporting manager.
  • Ensure accurate external reporting, including FS, note disclosures, regulatory reporting & management reporting.
  • Maintenance of the monthly review program to ensure financial controls are in place and the appropriate reconciliations are completed. Ensure that global policies and procedures are adhered to by all stakeholders, including Product Control, Operations, and Head Office Statutory & Regulatory Reporting to ensure consistency and adequacy of reconciliations.
  • Assist in the investigation of all financial and regulatory reporting matters. Maintain technical knowledge and keep abreast of all new accounting developments including hedge accounting changes.
  • Support the operational execution and implementation of new accounting standards, including IBOR Reform. Assess related financial reporting impact, coordinate and execute implementation plan.

Requirements

  • Knowledge of complex financial instruments and transactions, together with a willingness and interest in developing that knowledge.
  • Highly developed communication, interpersonal and negotiation skills are considered necessary for the success of this role. Strong financial, analytical, judgmental and conceptual skills.
  • Ability to manage operations workflows and process improvement experience.
  • Excellent presentation and report writing skills.
  • Strong team skills and work ethic.
  • Hedge accounting knowledge is an asset.
  • Technical competence in relevant financial and statutory accounting standards.

Preferred Qualifications

  • Strong knowledge of the RBC financial systems.
  • Accounting designation or CFA.

Additional Information

This role is a full-time position within the Office of the CFO. The ideal candidate will have a strong understanding of financial control and risk management principles, as well as excellent communication and analytical skills. If you are a motivated and detail-oriented individual who is passionate about financial reporting and analysis, we encourage you to apply.



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