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Position Overview

The Associate, 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 is an EO employer – M/F/Veteran/Disability