Location: Toronto (WFH for now)
Duration: 08/16/2021 to 08/12/2022 (possible extension for an additional 8 months)
Story behind the need:
Business group: Reports to global finance, main responsibility is daily P&L reporting through risk trade attribution, balance sheet reconciliation, independent price verification.
Project: BAU work, but depending on skill set of individuals they may use contractor to work on different projects
Candidate Value Proposition:
– Work with many different stakeholders (exposure to business , risk management, other finance teams, planning and forecasting groups etc.)
– Opportunity to learn different financial products
– Potential for permanent opportunities
Typical Day in the role:
– Produce and report daily P&L. Confirmation of P&L integrity/ validation through risk based attribution. Reconciliation of daily P&L to FO expectations with corresponding P&L explanatory to ensure P&L Sign-off by the Front Office. Coordination and resolution of P&L breaks between FO and Product Control through collaborative dialogue.
– Ensuring daily reported P&L is reconciled to the Bank’s General Ledger and associated source system sub ledgers. Adoption of a proactive approach to ensure breaks are escalated and resolved on a timely basis as required by established work-flows. Ensuring balance sheet accounts are substantiated and that all accounting issues are resolved on a timely basis. Orchestrate and complete the Month-End Close Sign-off and MIS Package.
– Strong understanding of risk analytics to develop and implement infrastructure processes aimed at effectively capturing and reflecting risk profile of business.
– Production, Review and Analysis of IPV, Reserves and Fair Value Adjustments as may be required in agreement with Risk Management and as required by Bank Guidelines. The coordination and timely resolution of Issues with the Front and Back Offices, and Risk Management.
– Supporting other financial reporting needs as may be required.
– The incumbent will support the Manager and Senior Manager in establishing support for new products/business in a controlled manner and actively engage in requests for support, analysis and information from various constituents including the Front Office, Risk Management, Operations, Finance, Audit and Regulators
Must have hard skills:
1. 3-5 years of experience as a Financial Analyst, fund accountant, or entry level role in risk management
2. Advanced Excel (pivot tables, VLOOKUP)
3. Experience with P&L construction and risk attribution, capital markets accounting, balance sheet substantiation and IPV process.
4. A solid understanding of Bank accounting policies, trading policies, market practice, financial products, regulatory requirements and the inherent risks associated with all of capital market products
Nice to have hard skills:
1. VBA experience
2. Pursuing CFA, CPA or FRM
– Flexible and adaptable to change
– Strong communication skills and the ability to interact with a demanding Front-Office client base.
– The incumbent must have leadership ability, be self-motivated and be able to operate in a back-up capacity to the Manager
– Excellent problem solving skills
Education/ years of overall experience: Bachelor's degree in accounting or related financial discipline