Job Description
Senior Manager, Hedge Accounting page is loaded Senior Manager, Hedge Accounting Apply locations Toronto, ON, CAN time type Full time posted on Posted 7 Days Ago job requisition id R240014540 Application Deadline: 06/27/2024 Address: 100 King Street West Job Family Group: Finance & AccountingAs part of the Accounting Policy team within the Enterprise Controllership group of BMO, the successful candidate will be responsible for all aspects of hedge accounting under IFRS. This includes acting as a trusted advisor to the Lines of Business with respect to their hedging strategies, writing and reviewing those strategies as well as understanding and advising on the theoretical and practical aspects of hedge accounting. In addition, you will be responsible for ensuring financial information is disclosed appropriately in the Bank’s financial statements. This is a highly technical role encompassing both the operational and theoretical, ensuring that strategies and initiatives are executed/delivered in compliance with IFRS as well as our internal policies and procedures. The ideal candidate has excellent knowledge of Financial Instruments (IFRS 9 and IAS 39) and other related accounting standards, with a CA and/or CFA designation. Oversee all aspects of hedge accounting under IFRS 9 / IAS 39 for the Bank. Serve as a trusted advisor to Corporate Treasury, Capital Markets units, and the Market Risk Group, responsible for 100% of all hedge accounting positions in the total Bank’s books. Provided strategic guidance and developed well-considered solutions aligned with hedge accounting standards and the Bank’s policies. Engage proactively with internal and external auditors, fostering a collaborative relationship to safeguard shareholders’ interests. Serve as a primary contact for peers and industry groups on hedge accounting policies or practices to incorporate diverse perspectives. Spearhead the timely production of monthly, quarterly, and annual reports related to the Bank’s hedge accounting, ensuring compliance with SOX requirements. Lead strategic initiatives and transformation projects and identify areas for improvement or control enhancement, collaborate with stakeholders to address operational challenges, streamline processes, and enhance efficiency through automation. Build and sustain trust with leadership by consistently providing effective executive communication with consistent updates. Fosters a culture aligned to BMO purpose, values and strategy and role models BMO values and behaviors in all that they do.Ensures alignment between values and behavior that fosters diversity and inclusion.Regularly connects work to BMO’s purpose, sets inspirational goals, defines clear expected outcomes, and ensures clear accountability for follow through. Builds interdependent teams that collaborate across functional and operating groups to create the highest value for all stakeholders.Attracts, retains, and enables the career development of top talent.Improves team performance, recognizes and rewards performance, coaches employees, supports their development, and manages poor performance.Provides strategic input into business decisions as a trusted advisor.Makes recommendations to senior leaders and oversees the execution a component of the accounting policy strategy.Acts as a subject matter expert on relevant regulations and policies.Influences and negotiates to achieve business objectives.Identifies emerging issues and trends to inform decision-making.Makes recommendations related to policy, standards and strategies for identified controller-managed risks.Supports the execution of strategic initiatives in collaboration with internal and external stakeholders.Helps determine business priorities and best sequence for execution of business/group strategy.Conducts independent analysis and assessment to resolve strategic issues.Defines business requirements for analytics & reporting to ensure data insights inform business decision making.Leads the execution of accounting policy programs; assesses and adapts as needed to ensure quality of execution.Monitors new accounting standards and analyzes impacts to policy and standards.Supports the development of tailored messaging about accounting policy changes & impacts, which may include writing, editing and distributing communications.Supports the development of financial statements and financial disclosure documents to ensure consolidated Bank results meet International Financial Reporting Standards and regulatory requirements.Acts as a key contact with internal and external regulatory bodies and industry groups to provide feedback on significant accounting issues and financial reporting matters.Prepares reports on accounting policy matters for senior management and industry and regulatory bodies as appropriate.Builds effective relationships with internal/external stakeholders.Breaks down strategic problems, and analyses data and information to provide insights and recommendations.Executes analyses to support the design and development of Accounting Policy strategy / programs.Employs systems (e.g. customized exception reports, tracking reports etc.) to manage information.Integrates information from multiple sources to enable more efficient processes, enhanced analysis and/or streamlined reporting.Executes work to deliver timely, accurate, and efficient service.Operates at a group/enterprise-wide level and serves as a specialist resource to senior leaders and stakeholders.Applies expertise and thinks creatively to address unique or ambiguous situations and to find solutions to problems that can be complex and non-routine.Implements changes in response to shifting trends.Broader work or accountabilities may be assigned as needed.Qualifications:Typically 7+ years of relevant experience and/or certification in related field of study or an equivalent combination of education and experience.One or more of the following preferred: MBA, CA, CFA, CGA, CMA.Advanced understanding of SOX, IFRS, and GAAP requirements and potential impacts.Ability to interpret Policy / program direction and realign/develop strategies accordingly.Seasoned professional with a combination of education, experience and industry knowledge.Verbal & written communication skills - In-depth / Expert.Analytical and problem solving skills - In-depth / Expert.Influence skills - In-depth / Expert.Collaboration & team skills; with a focus on cross-group collaboration - In-depth / Expert.Able to manage ambiguity.Data driven decision making - In-depth / Expert.Compensation and Benefits: $92,400.00 - $171,600.00 Pay Type: SalariedThe above represents BMO Financial Group’s pay range and type.Salaries will vary based on factors such as location, skills, experience, education, and qualifications for the role, and may include a commission structure. Salaries for part-time roles will be pro-rated based on number of hours regularly worked. For commission roles, the salary listed above represents BMO Financial Group’s expected target for the first year in this position.BMO Financial Group’s total compensation package will vary based on the pay type of the position and may include performance-based incentives, discretionary bonuses, as well as other perks and rewards. BMO also offers health insurance, tuition reimbursement, accident and life insurance, and retirement savings plans. To view more details of our benefits, please visit: https://jobs.bmo.com/global/en/Total-Rewards We’re here to helpAt BMO we are driven by a shared Purpose: Boldly Grow the Good in business and life. It calls on us to create lasting, positive change for our customers, our communities and our people. By working together, innovating and pushing boundaries, we transform lives and businesses, and power economic growth around the world.As a member of the BMO team you are valued, respected and heard, and you have more ways to grow and make an impact. We strive to help you make an impact from day one – for yourself and our customers. We’ll support you with the tools and resources you need to reach new milestones, as you help our customers reach theirs. From in-depth training and coaching, to manager support and network-building opportunities, we’ll help you gain valuable experience, and broaden your skillset.To find out more visit us at https://jobs.bmo.com/ca/en .BMO is committed to an inclusive, equitable and accessible workplace. By learning from each other’s differences, we gain strength through our people and our perspectives. Accommodations are available on request for candidates taking part in all aspects of the selection process. To request accommodation, please contact your recruiter.Note to Recruiters: BMO does not accept unsolicited resumes from any source other than directly from a candidate. Any unsolicited resumes sent to BMO, directly or indirectly, will be considered BMO property. BMO will not pay a fee for any placement resulting from the receipt of an unsolicited resume. A recruiting agency must first have a valid, written and fully executed agency agreement contract for service to submit resumes.Similar Jobs (5)Associate Portfolio Manager, Exchange Traded Funds - BMO Global Asset Management locations Toronto, ON, CAN time type Full time posted on Posted 4 Days Ago Portfolio Manager, Quantitative Investment - BMO Global Asset Management locations Toronto, ON, CAN time type Full time posted on Posted Yesterday Managing Director, Portfolio Performance & Credit Strategy locations Toronto, ON, CAN time type Full time posted on Posted 13 Days Ago BMO is a leading bank driven by a single purpose: to Boldly Grow the Good in business and life. Everywhere we do business, we’re focused on building, investing and transforming how we work to drive performance and continue growing the good.Who we areWe’re proud to be fueling growth and expanding possibilities for individuals, families and businesses. More than 12 million customers count on us for personal and commercial banking, wealth management and investment services. As the 8th largest bank in North America by assets, we provide personal and commercial banking, wealth management and investment services to more than 12 million customers. In Canada, the United States and across the globe, we’ll continue to build, invest and transform to drive performance that serves the good that grows.