Financial Control Director

4 weeks ago


Old Toronto, Ontario, Canada SMBC Full time
Job Description

The Director, Financial Control will be responsible for overseeing the creation and maintenance of control structures surrounding the periodic preparation of financials and other meaningful business information. This includes cost accounting, budgeting, compensation, product profitability, and other financial analysis. The Director will evaluate controls and processes to streamline activities and produce accounting data with multiple uses.

Key Responsibilities:

  • Develop, maintain, and review all risk KRIs and measurement methodologies.
  • Apply an understanding of the business and associated transactions to ensure all transactions can be appropriately processed and accounted for.
  • Have an advanced understanding of audit and accounting controls to avoid compliance issues.
  • Exhibit an understanding of market best practice to create efficiencies and improve controls.
  • Utilize information technology to efficiently process and control transactions.
  • Communicate accounting and control issues effectively.
  • Ensure proper functioning of Oracle applications (General Ledgers, Accounts Payable, and Fixed Assets).
  • Coordinate with auditors for the audit of the bank's financial statements and tax returns.

Regulatory Reporting:

The Director will be responsible for the timely production of all regulatory, internal, and external reporting requirements. This includes the timely production of the periodic internal Capital Adequacy Assessment Process validation report. The Director will maintain accurate records for Canadian and Japanese financial reporting simultaneously to meet financial reporting requirements from the regulators and the parent bank.

Tax Filing:

The Director will ensure tax filings for the bank are prepared accurately and on time. The Director will act as the local Tax Compliance officer in accordance with SMBC HO requirements.

Policy & Training:

The Director will maintain and update the Policy and Procedure Manual for the Accounting function. The Director will be responsible for the training, mentoring, and supervision of the Accounting team members.

Interpersonal/Communications:

The Director will facilitate relationships across the organization to ensure controls are in place to produce timely reporting and support control assertions. The Director will participate in new product development to support the business in the development of adequate processes and controls. The Director will develop meaningful control reporting through relationships with management and peers in other regions.

Responsibility for Supervision:

The Director will lead and manage the Accounting team at Canada Branch. The Director will make recommendations to the Canada leadership team on improving the department's operational effectiveness, including financial reporting changes, taxation matters, accounting policies, and internal controls.

Qualifications and Skills:

The ideal candidate will have a post-secondary education in finance, accounting, mathematics, or a business discipline, plus a CPA/CA designation. The candidate will have 3 years of prior experience with one of the big 4 audit firms in Canada, 3 years of accounting experience with a bank, preferably a Schedule III bank in Canada, and 2 years of prior experience leading and managing a team. The candidate will have prior experience and knowledge of taxation, regulatory reporting, and hedge accounting.

Computer Skills:

The candidate will have a strong knowledge and experience in the use of computerized accounting systems and the use of spreadsheets.



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