To apply, please submit your application to Andrew Gasper at andrew@gaspar.ca
This position reports to the Director and will manage one staff and be involved with designing, developing and implementing treasury accounting systems. Capital Markets project management or audit of derivatives is relevant experience. Base and bonus combo are $110-125K.
JOB TITLE: Senior Manager, Hedge Accounting Projects
PURPOSE OF JOB:
Group Treasury Comptrollers is a divisional comptrollership function providing financial analysis, reporting and hedge accounting support to the Bank's Executive Management and front office business units. The business demands constant innovation, both in the development of key financial performance measurement and analytical tools as well as in enabling technologies.
The Senior Manager, Hedging Projects is responsible for assisting the hedge qualification team with the design, development, implementation and updating of Group Treasury's hedge qualification, accounting & reporting system. This includes, but is not limited to the following:
1. Assist in managing/executing changes required to implement new products, strategies, designation methodologies and accounting standards. This includes analysis scenarios as well as infrastructure and system changes. The first major project relates to changes required for Chapter 6 of IFRS 9 (Hedging).
2. Plan, organize and execute other value added strategy and system initiatives for Group Treasury Comptrollers - Hedge Qualification.
3. Act as a liason/consultant among technology units, business units, and E.O. Finance working groups to ensure the effective development from business analysis to implementation and delivery.
The incumbant must be a capable change agent, ensuring smooth and relevant changes and insightful analysis with Treasury business lines and support groups.
KEY ACCOUNTABILITIES:
- Assist the Director in identifying and documenting business requirements for reporting & system changes needed to be able to apply qualification and accounting changes for new products, strategies, designation methodolgoies, and accounting standards. This could involve identifying the requirements to expand the scope of the accounting for financial instruments included in the Hedge Accounting Module of the Derivative Hedge Database and improve the functionality of the system to ensure that the changing needs of the relevant groups can be met efficiently and on a timely basis.
- Identify infrastructure changes needed to qualify and monitor the qualification of all hedging relationships under the new products, strategies, designation methodologies and accounting standards. This includes drafting changes to the hedge strategy documents as well as policy & procedure documents around new processes and controls that need to be implemented.
- Identify and document testing strategies, test plans and develop test cases for all system changes. Manage the testing of all system changes to ensure they are fully tested and implemented properly and do not impact the performance of the existing functionality. This includes coordinating with IT area and assigning the testing to project staff and other members of the hedge qualification group.
- Ensure that all procedures and their associated internal controls are identified and implemented as per the policies and procedures outlined for Sarbanes-Oxley certification. Implement processes and policies that will guide the hedge qualification practices, which are consistent with the Bank’s overall risk management strategy. The policies will identify the scope, the methodology and the reporting structure of the hedge qualification process.
- Provide management and leadership support to the hedge qualification and Projects team.
- Remain current with emerging industry best practices for hedge accounting, qualification requirements and associated risks through research, and critical reading of articles issued by regulatory bodies and industry associations. Also, ensure that these developments are effectively communicated to the Director.
FUNCTIONAL COMPETENCIES:
- Solid understanding of Group Treasury's business and comprehensive knowledge of finance and financial products, including complex derivative structures that are used to manage and hedge risks associated with banking products.
- Proven strong project management, issue identification/resolution, leadership skills and stewardship capabilities in a complex and changing environment.
- Strategic, analytical and innovative thinker
- Demonstrated experience in the managing of people and processes with strong interpersonal skills and the ability to work effectively in a team environment and/or independantly with peers and superiors across organization lines
- Strong written and verbal communication skills.
- Excellent knowledge of IAS 39 & IFRS 9.
- Advanced PC skills, in database management and spreadsheet analysis are required.
- Excellent knowledge and broad understanding of the Bank’s structure, operations and accounting policies, and financial and regulatory reporting requirements.
EDUCATIONAL REQUIREMENTS:
A CA or accounting designation is required.
An MBA, CFA, or any combination thereof, is desirable.