Total compensation is targeted at $125K - $160K, to be determined on candidate's credentials, experiences and potential value to the department / firm.
Manager Financial Controls / Regulatory Reporting
Reporting directly to the Head of Finance for the Americas, this hands-on leadership position will play a key role in the continued growth and stability of a well-established foreign bank generally regarded as best in class.
Responsibilities (will include but not be limited to):
- Manage the daily accounting, monthly book closing, and audited financial statements of the Finance team. Includes ensuring all entity financial statements prepared by the NY team are properly closed at month end while working closely with other Finance team members. To be a key point of contact between the NY office and all bank offices to ensure all appropriate tasks are completed in a timely, efficient and accurate manner.
- Oversight and production of all relevant financial/management accounting reporting statements for NY Office including the NY Branch, Broker-Dealer and other legal entities, in line with Group reporting standards
- Oversee and prepare weekly, monthly, quarterly and annual regulatory reports submitted to the Federal Reserve Bank, State Banking Departments and the U.S. Department of Commerce by the NY Branch, including subsidiaries and special purpose entities, in accordance with the all requirements of the regulatory authorities. The regulatory reports include but are not limited to: FFIEC 002, FR Y-7N, FR 2900, FR 2644, FR 2052a, FFIEC 019, FR Y-15, TIC’s.
- Promote and support a controlled environment ensuring the financials produced by the team accurately reflect the nature of the business activity and deliver quality reporting to Group Finance in head office as well as being responsive to their follow up questions and requirements.
- Team approach to ensure work is being completed, data and information shared (to/from) to incorporate cross training, working with offshore team, without compromise to ownership of data and reporting and related quality of work.
- Maintain a strong financial control environment by working closely with the front and back office systems and with the rest of the local and offshore Finance team.
- Escalate any issues or risks which could potentially have a significant negative impact on any aspect of financial results, both to head office and to our local regulators.
- Perform internal control procedures such as cross report reconciliations and variance analytics.
- Ensure all records, backup documentation and work papers are maintained in accordance with operating standards and procedures.
- Ensure strict adherence to regulatory submission deadlines.
- Assist in providing timely and accurate responses to any FRB questions/inquiries.
- Preparing and reviewing financial statements and ensuring that proper IFRS accounting rules are adhered to.
- Ensure the balance sheet accounts designated as Finance’s responsibility are reconciled monthly and that the amounts are appropriate with adequate support.
- Effectively managing deliveries of data to external audit team and coordination for any required separately audited financial statements and related Notes.
- Bachelor’s degree (Accounting, Finance)
- CPA (preferred, not mandatory)
- 7+ years Relevant bank reporting experience (or equivalent)
- In depth knowledge of finance, financial accounting, regulatory reporting, and risk management.
- Strong knowledge for the structure of FR Y-9C, FFIEC 031, FFIEC 009, and FR Y-15
- Proficient knowledge of US GAAP in financial products (e.g. derivatives, securities, repos, money market products, loan, and deposits)
- IFRS accounting knowledge
- Knowledge for calculation of Risk Weighted Assets per U.S. Basel III Standardized Approach
- MS-Excel (advanced), MS-Word/PowerPoint/Access (intermediate). VBA, SQL and Access coding skills preferred
- Experience in change management and system implementation in the financial industry
- Experience in financial or regulatory reporting
- Strong analytical and verbal/written communication skills
- Strong interpersonal skills