Our Banking Client in Toronto, ON is looking to hire a Financial Analyst with Hedge for a 6 months of contract role with high possibility of extension.
As a Financial Analyst with Hedge, is Responsible for completion of various business and financial analysis for the Incentive Compensation Accounting functions relating to the financial accounting and reporting and related internal controls for the various Client’s incentive compensation programs
The role also includes monitoring and compliance of control activities to ensure the integrity of financial information on a timely and accurate basis for both IFRS and US GAAP.
Lots of moving parts, the resource will need to be a strong team player, very hands on and willing to roll up their sleeves. The resource could be doing journal entries, month and quarter end close activities – a broad spectrum of activities will be included in this role.
- Proficiency with Excel (v-lookups, pivots, simple formulas)
- Experience with FI or other public companies with share-based compensation
- Access experience is a definite asset
- Hedge accounting experience
- Specific knowledge of IFRS and US GAAP would be an asset.
Flexibility and creativity required to adapt to a constantly changing environment, and to develop and adapt financial procedures and processes to meet such changes.
Excellent relationship building, management, negotiating, influencing, and planning skills required.
Superior communication skills to promote interaction and co-operation with senior personnel.
The scope of the Incentive Compensation Accounting role would include the following activities:
- Responsible for analyzing financial impact of multiple deferred equity plans on Client or business unit performance. Involved with the team in strategic, financial and operational planning for Client or large operating units within Client with respect to incentive compensation or deferred equity accounting.
- Responsible for operational activities related to deferred equity awards including:
- IFRS and US GAAP expense recognition in accordance with plan terms and relevant accounting standards
- Hedge accounting for related cash flow hedges
- Compliance with immunization agreements in place with participating entities
- Global oversight for incentive compensation-related accounting for the Client's Group of Companies.
- Works with the team to complete the financial/business analyses of initiatives and develops and required recommendations for discussion, review and acceptance at the senior management level.
- Provides analysis of financial data, the impact of internal/external factors, and /or adoption of new procedures or processes including providing required information for public disclosure and other regulatory filing purposes
- Works with the team on large and complex reporting throughout the year such as the annual December 1 vesting, the annual Incentive Compensation reconciliation and applying hedge accounting for designated awards.
- Works with the team to ensure that the financial/risk management systems, procedures, controls and policies within Incentive Compensation Accounting are maintained so that timely, accurate and reliable information and analysis is produced.
- Identifies key information needs and implement appropriate data collection routines, analytical procedures and reporting requirement/formats
- Responsible for setting up routines to monitor performance
- Issues instructions to various business units on data required for reporting purposes
- Participates in the analyses of performance by business unit, often aggregating results into larger reporting units
- Ensures that all financial reports are produced in a manner that meets the operating units requirements and the needs of senior management (e.g. within timelines and with accuracy)
- Consults with internal and external stakeholders on financial matters from time to time.
- Respond to financial queries from the Consolidation team, executive management, other financial areas i.e. Taxation, legal, legal entity finance contacts, HR, auditors
- Explain interpretation of results and findings
- Discuss other financial issues as they arise
- Ad-hoc projects as assigned
Additional Skills and Experience:
Advanced knowledge of planning and analytical procedures and techniques
Ability to present complex financial information in an easy to understand format
Advanced knowledge of PC applications
EDUCATION AND EXPERIENCE:
- 5 years of solid, relevant financial experience
- A professional accounting designation (CA, CMA, CGA) with progressive experience within a large multi-dimensional organization.
- Bachelor’s Degree in Finance or Accounting
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