Manager, Financial Reporting - Toronto, Canada - Foresters Financial Services, Inc.

Foresters Financial Services, Inc.

Verified Company

Toronto, Canada

2 weeks ago

Posted by:

Sophia Lee

beBee Recruiter

Description

Career Opportunity

Role Title

Manager, Financial Reporting

Purpose of role

Reporting to the AVP, Financial Reporting and Investment Services, the incumbent will lead a team of Senior Financial Analysts supporting the day-to-day financial reporting including quarterly and annual regulatory reporting.

This role will also work closely with various business units and subsidiaries to produce consolidated financial results in compliance with IFRS, including the new IFRS 17 Insurance Contracts standard.

As IFRS 17 impacts the entire enterprise, this role will require interaction and coordination with other Finance, Actuarial and IT leads through various work streams established impacting the various functional areas.

The incumbent will also have exposure to senior management and future opportunities for career advancement.

Job Description:

Key Responsibilities

Financial Reporting

Review and approve monthly account reconciliations and journal entries of the Corporate Finance team
Preparation and review of annual consolidated financial statements and note dislcosures including financial statements of subsidiaries, pension plans and segregated funds
Manage the quarterly OSFI Life1 and LICAT regulatory reporting process including coordination with UK subsidiary
Lead the preparation of audit schedules, prepared by client listings and coordination of year end timelines with auditors
Assist other business areas with implementating operational processes including understanding risks and development of key controls and documentation of downstream accounting impacts
Lead the quarterly end to end process for Risk Integrity (IFRS 17) runs for Finance and work closely with the Actuarial team to produce the quarterly financial results
Review and analyze inputs to and outputs from Risk Integrity to ensure accuracy and completeness
Assist in optimizing financial reporting and operational processes to streamline the close process
Manage the integrity and accuracy of financial and nonfinancial information in the general ledger and financial reporting systems
Review data requirements and the impact on the source systems feeding the general ledger
Review and approve all changes to information feeding the general ledger and other financial systems including new Foresters product development changes

Policy Documentation

Assist with researching accounting policy treatment and documenting impact assessment for the company
Review, assess and update procedural documentation impacting the corporate general ledger, financial reporting and the close process
Implement all new accounting/reporting policies or changes to existing policies including training staff and assisting them to develop new procedures and controls to support these policies; monitor adherence to policies

Other

Ability to deal directly with senior management on various special projects and accounting/actuarial issues as required
Deal directly with auditors and regulators to resolve issues
Initiate process improvements as necessary for all accounting and reporting processes, within Finance and in other areas of the company

Key Qualifications

University graduate with a major in finance/accounting preferred and professional accounting designation (CA, CPA)

years' experience in a life insurance/financial institution reporting environment; public company experience is an asset

Sound knowledge of IFRS insurance accounting policies
Exposure to OSFI Life1, LICAT and/or NAIC
Experience with Workiva WDesk and Oracle Essbase
Excellent verbal and written communication skills (e.g. writing business proposals, accounting policies and delivering presentations to senior management)
Strong analytical and problem solving skills
Well organized, innovative with a high level of initiative
Detail oriented, able to manage several complex processes and tasks with a high level of accuracy
Demonstrated ability to work independently and deal with changing priorities while meeting tight deadlines
Strong leadership and management skills, with the ability to motivate, negotiate and influence effectively
Strong interpersonal skills with the ability to build relationships and work in a team environment

LI-Hybrid

Equal Opportunity Employment and Inclusion
- _at Foresters Financial, we are committed to sustaining an equal opportunity environment for all job applicants. We embrace Inclusion, Diversity and Equity (IDE) as a core strategic objective for building strong, innovative teams in which all our employees can show up wholly and authentically as themselves._
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- in advance of your appointment._