VP Accounting Policy
Salary $115000 - $140000 per year + Strong
Consultant Christopher Stringer
Date posted June 1, 2017
My Client, a large banking group based in North Carolina is looking to hire multiple people at the VP level to join their growing accounting policy function. This is a great opportunity for someone with a background of technical accounting, accounting policy or in depth accounting knowledge to develop their career in a firm committed to the progression of its high achieving employees. The role also offers the opportunity for flexible working hours.
The Accounting Policy and Assurance Group Team is a Global team within the business with a team based in North Carolina. The team includes New Policy Implementation (NPI) and Policy Development (PD). PD is responsible for developing new and revising existing accounting policy documents. This includes monitoring both the FASB and IASB for upcoming standards and providing feedback to the comment letter process. PD also provides technical advice to transaction support teams within APAG and those responsible for day to day bookings as well as NPI. NPI is responsible for all aspects of technical accounting related to the implementation of new US GAAP and IFRS accounting standards. This includes the initial analysis of accounting standards, establishing impacts to the business as well as the identification and subsequent resolution of technical accounting issues. The NPI team also prepares the Accounting Requirements Document, which articulates the accounting changes in a clear and concise manner for use by the Financial & Management Accounting and Reporting (FMAR) team and Finance Change to build process solutions.
- Policy Implementation: Participate in the policy implementation process:
- Conduct initial impact assessment for project scoping. Monitor IASB and FASB discussions on implementation projects on new accounting standards.
- Perform technical accounting gap analysis.
- Identify knock on impacts of accounting changes to other GAAPs (e.g. IFRS, Swiss GAAP) and impacts on FINMA reporting.
- Prepare education material and conduct education sessions on new accounting standards.
- Meet with other stakeholders to discuss potential impacts (e.g. Tax, Product Control, Corporate Real Estate Services).
- Draft an Accounting Requirements Document which outlines both the current accounting and future accounting under the new accounting standard.
- Identify and resolve technical accounting issues and manage the status thereof with an accounting issues tracker for each new accounting standard.
- Act as an accounting advisor on technical accounting issues and represent APAG on relevant workstreams as needed for Finance Change led implementation projects.
- Liaise with Policy Development Subject Matter Expert to ensure all new accounting requirements are updated in Group Accounting Reporting Manual (GARM).
- Draft SAB 74/ Note 2 disclosure reporting which includes the impacts of the new standards.
- Project manage and conduct due diligence on the implementation of new policies.
- Provide regular communication on projects to internal stakeholders as well as external auditors.
- Project Support: Lead and / or participate in accounting / reporting projects or assist Group Finance / Product Control as required in cases in which technical accounting expertise and / or project management skills are requested.
- Perform due diligence on areas where accounting risks are identified.
- Assist with preparation and presentation of accounting training materials.
- Assist with the preparation and review of group accounting policies.
- Be part of the global, dynamic Accounting Policy and Assurance team.
Required background and skills
- Strong academic background (batchelors degree in accounting, finance or similar qualification)
- Background in big 4 public accounting firm preferred
- CPA or equivalent qualification preferred
- Experience of working in Investment Banking or Financial Services, either directly or as an external auditor
- Experience in US GAAP / IFRS accounting and financial reporting.
- Problem solving skills (ability to quickly structure, understand, solve complex issues).
- Effective communicator – able to develop relationships with internal clients in different locations to understand and address their needs.
- Efficiently and effectively manages work, time and resources.
- Experience in project management is a solid plus.
- Experience in SEC reporting is desirable.
- Ability to work in an international multi-cultural environment.
- Highly motivated individual, driver mentality