- Update monthly the hedge register to reflect all new relationships entered during the month in the GL/ financials
- Test hedge effectiveness of all the hedge accounted derivatives
- On a monthly basis prepare journal entries for swap interest accrual, and settlements
- Prepare journal entries related to fair value effectiveness, ineffectiveness and mark to market on a monthly basis
- Prepare monthly reconciliation, management, external and regulatory reports related to all the derivatives
- Develop new hedge accounting strategies and update existing strategies for changes in IFRS or business needs
- Report actual and budgeted numbers of various hedging strategies with a focus on the impact to net interest margin
- Provide insightful analysis of monthly results and trends for derivatives and hedges
- Maintain documentation and testing processes for internal controls supporting CEO/CFO certification and external audit requirements
- Research accounting policy related issues including hedging strategies
- Prepare and update accounting policies and memos as required
- Stay abreast of new developments in IFRS
- Assist in implementation of new accounting policies and projects ( IFRS 9, IFRS 16)
- Assist with preparing financial statement note disclosures related to cash and securities, derivatives and hedge accounting and AOCI. Ensure that the data is accurate, reliable and reconciled to internal and external reports for assigned areas.
- Assist Shareholder and Consolidation team in various other quarter-end financial reporting related responsibilities
- Bachelor's degree required in Business, Finance or Accounting
- Certification(s)/Designation(s) required in related area (CA, CGA, CMA or equivalent)
- 2-4 years in financial analysis within a financial services company or equivalent experience in a professional services firm
- Exposure to FINCAD, SAP an asset
- In-depth knowledge of IFRS, with focus on financial instruments
- Understanding of hedge accounting and derivatives
- Solution-focused, takes initiative ensuring self and team work effectively and efficiently within established guidelines
- Strong organizational, time-management, strategic thinking, research/ analysis, and attention to detail
- Well developed negotiation, influencing skills
- Proven ability to work both independently and collaboratively within a team environment
- Strong interpersonal relationship building and listening skills
- Excellent written / verbal communication and professional maturity
- Able to multi-task and flourish in a fast-paced, deadline-driven work environment
- Strong sense of ethics and integrity and maintaining confidentiality
- Solid knowledge of MS Office (especially Word and PowerPoint); Advanced Excel
- Solid knowledge of technical accounting.
- Bilingualism an asset
- Some work beyond standard hours
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Senior Financial Analyst - Toronto, Canada - Home Trust
Description
Company Profile
Home Trust Company has developed a track record of success as Canada's leading alternative lender, employing nearly 850 people in our Toronto headquarters and branches across the country. Building on the demonstrated strength of our core residential and commercial mortgage lending business, the Company and its affiliates also offer complementary lending services and competitive deposit investment products. Our culture has been shaped by the passion and integrity of our people. Home Trust is a private company.
Through the development and maintenance of policies and procedures that comply with all ongoing financial legislative requirements, Finance promotes high standards of business conduct and ethical behaviour. Finance performs many complex, financial tasks ranging from administrative accounting to strategic capital management by way of analysis, forecasting and planning. The group also creates value in the business by identifying opportunities, providing critical information and analysis to make superior operational and strategic decisions, while fostering a culture of respect, trust and integrity.
Position Overview
This role is a key member of a group that will act as subject matter experts to both finance and other business units/control functions on specialized topics such as derivatives, hedge accounting, complex accounting policy and advisory. The Senior Financial Analyst - Accounting Policy & Hedge Accounting will work closely with Senior Manager of Accounting Policy and Advisory. The position plays a key role in the derivatives and hedge accounting process and reporting, accounting research and implementation including major projects, planning and advisory that will significantly impact the presentation of results to senior management, business units, regulators and the public.
Position Responsibilities
Risk Management & Compliance must remain the over-arching focus in striving for continuous improvement with respect to assessment of and improvement to control activities related to assigned financial activities, maintaining process and control documentation, adhering to all control requirements, testing processes and working with internal audit group in support of CEO/CFO certification and in adhering to applicable compliance obligations including Privacy, Anti-Money Laundering/Anti-Terrorist Financing and internal Anti-Fraud Policy requirements in carrying out one's responsibilities as outlined below:
Derivatives and Hedge Accounting (70%)
Accounting Policy (20%)
External Quarter-end Reporting (10%)
Formal Education
Related Experience
Position Complexities
Acknowledgement
All employees of Home Trust Company must comply with all applicable Home Trust Company, and specific Line of Business policies, standards, guidelines and controls. Additionally, all employees are obligated to become familiar with Home's risk management framework and understand the operational risk management requirements within their specific business. Employees are also expected to understand and comply with the Company's Code of Business Conduct & Ethics Policy at all times and escalate any issues or concerns through various reporting channels ( Ombudsman, Compliance Hotline, Whistleblower Policy, etc).