Senior Manager, Accounting & Financial Reporting
Toronto, ON M4E 3Y1 In-Person
1 month ago
By clicking Apply, I agree with Ladders'
Job Description
Position Overview
The senior manager, Accounting & Financial Reporting at Sumitomo Mitsui Banking Corporation (SMBC), Canada Branch, plays a pivotal role in executing the Bank's accounting and financial reporting function. This position involves preparing and reviewing Accounting and Regulatory reports in compliance with Canadian IFRS and Japanese GAAP. The role ensures the accuracy and timeliness of financial information provided to local regulators, corporate management, and external auditors. The Associate fosters a collaborative environment to maintain high standards of financial reporting and regulatory compliance. This position demands a strong understanding of financial controls, regulatory requirements, and the ability to manage multiple tasks under time pressure.
This is a manager-level role that requires at least 3 years of hands-on experience (post CPA) at a Canadian federally regulated financial institution (FRFI) or audit firms. Professional high achiever would be considered for VP title and be groomed for leadership responsibilities.
Key Accountabilities
Accounting & Financial Reporting:
Regulatory Reporting:
Accounting Controls:
Policy & Training:
Interpersonal/Communications
Responsibility for Staff Supervision: None
Qualifications and Skills
Knowledge & Experience:
"Nice to have" skills:
About SMBC
SMBC Group is a top-tier global financial group. Headquartered in Tokyo and with a 400-year history, SMBC Group offers a diverse range of financial services, including banking, leasing, securities, credit cards, and consumer finance. The Group has more than 130 offices and 80,000 employees worldwide in nearly 40 countries. Sumitomo Mitsui Financial Group, Inc. (SMFG) is the holding company of SMBC Group, which is one of the three largest banking groups in Japan. SMFG's shares trade on the Tokyo, Nagoya, and New York (NYSE: SMFG) stock exchanges.
In the Americas, SMBC Group has a presence in the US, Canada, Mexico, Brazil, Chile, Colombia, and Peru. Backed by the capital strength of SMBC Group and the value of its relationships in Asia, the Group offers a range of commercial and investment banking services to its corporate, institutional, and municipal clients. It connects a diverse client base to local markets and the organization's extensive global network. The Group's operating companies in the Americas include Sumitomo Mitsui Banking Corp. (SMBC), SMBC Nikko Securities America, Inc., SMBC Capital Markets, Inc., SMBC Rail Services LLC, Manufacturers Bank, JRI America, Inc., SMBC Leasing and Finance, Inc., Banco Sumitomo Mitsui Brasileiro S.A., and Sumitomo Mitsui Finance and Leasing Co., Ltd.
SMBC provides reasonable accommodations during candidacy for applicants with disabilities consistent with applicable federal, state, and local law. If you need a reasonable accommodation during the application process, please let us know at [email protected]
SMBC is an EO employer - M/F/Veteran/Disability
The senior manager, Accounting & Financial Reporting at Sumitomo Mitsui Banking Corporation (SMBC), Canada Branch, plays a pivotal role in executing the Bank's accounting and financial reporting function. This position involves preparing and reviewing Accounting and Regulatory reports in compliance with Canadian IFRS and Japanese GAAP. The role ensures the accuracy and timeliness of financial information provided to local regulators, corporate management, and external auditors. The Associate fosters a collaborative environment to maintain high standards of financial reporting and regulatory compliance. This position demands a strong understanding of financial controls, regulatory requirements, and the ability to manage multiple tasks under time pressure.
This is a manager-level role that requires at least 3 years of hands-on experience (post CPA) at a Canadian federally regulated financial institution (FRFI) or audit firms. Professional high achiever would be considered for VP title and be groomed for leadership responsibilities.
Key Accountabilities
Accounting & Financial Reporting:
- Prepare and review financial accounting reports
- Prepare Head Office financial reports according to respective local and international accounting standards.
- Maintain Canadian and Japanese general ledgers for all products, reconcile various sub-ledgers to the general ledger daily, ensure accurate records for Canadian and Japanese financial reporting to meet local and parent bank requirements.
- Prepare working papers for Notes to the annual financial statement for external audit purposes. Prepare and review various taxation working papers and returns.
- Coordinate with auditors for the audit of the bank's financial statements and tax returns.
- Maintain excel working paper files for various reports, maintain electronic working files to support data analysis and reports.
Regulatory Reporting:
- Prepare regulatory reporting; ensure accuracy and work towards automation of working papers and controls
- Prepare reports to OSFI and Bank of Canada via Regulatory Reporting System (RRS).
- Stay current on Canadian Banking rules and regulations for Foreign Bank Branches to ensure accurate regulatory
Accounting Controls:
- Ensure all transactions are appropriately processed and accounted for.
- Maintain an advanced understanding of audit and accounting controls. Develop and maintain proper financial/product controls.
- Ensure proper knowledge and functioning of Oracle applications (General Ledgers, Accounts Payable, and Fixed Assets).
- Create and maintain control structures for financial preparation in accordance with filing requirements; Periodically test controls and ensure attestation on internal controls.
- Recommend improvements to the department's operational effectiveness, including financial reporting changes, taxation matters, accounting policies, and internal controls.
- Develop, maintain, and review all risk KRIs and measurement methodologies.
Policy & Training:
- Assist in updating and maintaining Policy and Procedure documents
- Maintain & update the Desktop Manuals for the Accounting Dept.
Interpersonal/Communications
- Participate in new product development to support adequate processes and controls.
- Develop meaningful control reporting through relationships with management and peers in other regions.
- Work cooperatively with internal and external auditors, regulatory examiners, and other parties in the audit/examination processes.
- Liaise with various New York and Head Office department to resolve any open issues.
- Represent accounting team in discussions various departments and lead regional accounting projects/initiatives.
Responsibility for Staff Supervision: None
Qualifications and Skills
Knowledge & Experience:
- University graduate and Canadian CPA designation.
- Strong analytical and communication skills. Excellent writing skills is a great asset.
- Self-motivated and result-oriented, adaptable to changes arising from the department transformation.
- Minimum of 5+ years' work experience, including previous experience in a financial institution. Knowledge and understanding of foreign bank operations is desirable.
- Advanced skill in Microsoft Excel, and PowerPoint.
"Nice to have" skills:
- Knowledge of Oracle general ledger application preferred.
- Good time management with the ability to prioritize workflows and meet deadlines.
- Strong reasoning ability to understand complex situations, people, and systems needs against an ever-changing regulatory control environment.
- Able to work independently on projects with little oversight, learn quickly, and dissect complicated issues within a large financial institution.
- Attention to detail. Knowledge of wholesale lending practices.
About SMBC
SMBC Group is a top-tier global financial group. Headquartered in Tokyo and with a 400-year history, SMBC Group offers a diverse range of financial services, including banking, leasing, securities, credit cards, and consumer finance. The Group has more than 130 offices and 80,000 employees worldwide in nearly 40 countries. Sumitomo Mitsui Financial Group, Inc. (SMFG) is the holding company of SMBC Group, which is one of the three largest banking groups in Japan. SMFG's shares trade on the Tokyo, Nagoya, and New York (NYSE: SMFG) stock exchanges.
In the Americas, SMBC Group has a presence in the US, Canada, Mexico, Brazil, Chile, Colombia, and Peru. Backed by the capital strength of SMBC Group and the value of its relationships in Asia, the Group offers a range of commercial and investment banking services to its corporate, institutional, and municipal clients. It connects a diverse client base to local markets and the organization's extensive global network. The Group's operating companies in the Americas include Sumitomo Mitsui Banking Corp. (SMBC), SMBC Nikko Securities America, Inc., SMBC Capital Markets, Inc., SMBC Rail Services LLC, Manufacturers Bank, JRI America, Inc., SMBC Leasing and Finance, Inc., Banco Sumitomo Mitsui Brasileiro S.A., and Sumitomo Mitsui Finance and Leasing Co., Ltd.
SMBC provides reasonable accommodations during candidacy for applicants with disabilities consistent with applicable federal, state, and local law. If you need a reasonable accommodation during the application process, please let us know at [email protected]
SMBC is an EO employer - M/F/Veteran/Disability
About Sumitomo Mitsui Financial Group, Inc.
Learn More About Sumitomo Mitsui Financial Group, Inc.Sumitomo Mitsui Financial Group, Inc. Careers
There has never been a more opportune time to join the dynamic team at Sumitomo Mitsui Financial Group, Inc. (SMFG)—a leading force in the financial services industry recognized for its leadership in innovation and diversity.
Explore Job Opportunities
Sumitomo Mitsui Financial Group, Inc. offers a plethora of job opportunities that cater to a variety of skills and interests. The company is renowned for its commitment to professional growth and leadership development, making it an ideal environment for ambitious individuals looking to advance their careers.
Experience Professional Growth
At SMFG, career advancement is not just a possibility but a priority. The company supports its team members with extensive training programs, including leadership development and diversity training, ensuring that every employee has the tools and knowledge necessary to succeed.
Join a Diverse and Inclusive Team
Diversity and inclusion are at the core of the company culture at Sumitomo Mitsui Financial Group, Inc. With a global team that values unique perspectives and fosters a collaborative and inclusive environment, SMFG is a place where everyone can thrive.
Internship Programs
For those starting their career journey, SMFG offers internship programs that provide a robust foundation in the financial sector. Interns gain invaluable experience, working alongside seasoned professionals and engaging in projects that offer real-world applications of their studies.
Benefits and Culture
Sumitomo Mitsui Financial Group, Inc. is dedicated to not only attracting but also retaining top talent by offering competitive benefits that enhance both personal and professional life. The company culture promotes work-life balance, employee well-being, and continuous learning.
Innovative Work Environment
Innovation is a key driver of SMFG’s success. Employees are encouraged to bring forward-thinking ideas to the table and are provided with the resources to transform these ideas into actionable solutions that drive the financial industry forward.
Networking and Career Development
Networking opportunities within SMFG are abundant. Employees are encouraged to connect with colleagues and industry leaders through various platforms and events, enhancing their professional network and opening doors to myriad career opportunities.
Apply for a Position
Sumitomo Mitsui Financial Group, Inc. is actively hiring and looking for talented individuals who are passionate, curious, and driven. Explore open positions that match your skills and interests on the SMFG careers page.
Stay Connected with SMFG Careers
Keep up to date with the latest career tips, industry insights, and company news from Sumitomo Mitsui Financial Group, Inc. Subscribe to receive updates and stay informed about new job openings and employment trends.
Prepare for Your Interview
Aspiring to join SMFG? Prepare your resume to reflect your best self and gear up for the interview process where you can showcase your skills and passion for finance and innovation.
Career Opportunities Await
At Sumitomo Mitsui Financial Group, Inc., the potential for professional development and personal growth is limitless. Discover the exciting and rewarding career opportunities that await at SMFG, where every position contributes to the company’s global success and leadership in the financial industry.
