Location Address: Toronto – WFH until further notice
Contract Duration: ASAP to 07/29/2022
Story Behind the Need:
-Contributes to the overall success of bank’s insurance operations by directly supporting the Bank in its IFRS 17 implementation project. The Senior Manager is a key member of the team involved in delivering on the Banks’ IFRS I7 project goals and detail project plans for Finance workstreams and supporting other operating workstreams in executing on their key deliverables. Ensures all activities conducted are in compliance with governing regulations, internal policies and procedures.
The Senior Manager will be located in Canada and reports to the Director.
Candidate Value Proposition:
•This is a great opportunity to work at the bank – will be involved in IFRS 17 implementation project.
Typical Day in Role:
•Support the design and implementation of operational changes required to key finance function process required to account and report under IFRS 17. Areas of focus will include but are not limited chart of account/roll-ups, IFRS 17 compliant financial statements, monthly/quarterly close calendar activities and developing reports / reconciliations.
•Support the design, development, testing and implementation of key IFRS17 tools, reconciliations and reports. Areas of focus will include reports required to ensure completeness and accuracy of IFRS 17 subledger accounting and reporting.
•Document process changes resulting from a gap assessment of existing vs new process impacting the month-end close calendar for subsidiary and parent bank financial reporting. This will need to ensure that key SOX related controls are identified. Support development of any manual controls that need to be modified or updated due to implementation of IFRS 17 subledger.
•Support work on transition year adjustments with the goal of quantifying, accounting for and developing financial statement disclosures for the transition adjustment by legal entity and for the parent bank.
•Provide support in developing IT UAT testing strategy and participate in the execution of the strategy.
•Provide support for the development of IFRS17 accounting policy choices and identify any operating changes required to implement IFRS 17 policy choices.
•Provide support to execute transition year parallel accounting and reporting by drafting out close calendar activities during the parallel year.
•Prepare IFRS 17 compliant financial statements and related disclosures for each insurance subsidiary including all transition year disclosures.
•Liaise with key members of the Data, Actuarial and Accounting policy workstreams as required.
•Support project management and detail project plan execution by providing timely updates on the status of key work initiatives.
•Understand and consider the Bank’s risk appetite and risk culture, and conduct all activities in compliance with governing regulations, internal policies and procedures.
•Actively pursue effective and efficient operations of his/her respective areas, while ensuring the adequacy, adherence to and effectiveness of day-to-day business controls to meet obligations with respect to operational risk, regulatory compliance risk, AML/ATF risk and conduct risk, including but not limited to responsibilities under the Operational Risk Management Framework, Regulatory Compliance Risk Management Framework, AML/ATF Handbook and the Guidelines for Business Conduct.
Candidate Requirements/Must Have Skills:
1) Has 10+ years of relevant work experience in the Insurance/financial services industry
2) Has 10+ years working in Finance functions as a Controller
3) Experience with Accounting standard implementation
4) Experience working with UAT
5) Experience working on large, complex projects in multi-disciplinary environment
Must Have Soft skills:
-Excellent communication skills
-Experience in a fast-paced environment with tight deadlines and able to handle multiple priorities
• Experience in general ledger administration systems implementation projects would be and asset
• Banking experience combined with insurance experience is a strong asset
Degrees or certifications:
– CPA designation is a must