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Senior Analyst, Finance At BMO Financial Group

Location

Toronto, On

Job Description

As part of the Parent Bank Controllers team in CAG and reporting to the Senior Manager, this role “Senior Analyst, Finance, Chief Accountant’s Group, Parent Bank Controllers” provides support for the month-end, quarter-end and year-end close process for certain components of Parent Bank and some subsidiaries including accounting, reporting, analysis and attestation to the validity of the results, as well as daily accounting responsibilities.



The Senior Analyst, Accounting Operations, CAG working under the direction of the Senior Manager, is accountable to apply a senior working level of knowledge in resolving complex issues within the scope of technical expertise. This role encompasses support for the timely, accurate and efficient service delivery of month-end, quarter-end, and year-end CAG processes such as: reviewing and approving complex accounting transactions, financial consolidations, accounting close, intrabank wash, intercompany accounts settlement, etc. for the consolidated parent Bank and legal entities within the mandate of CAG. This role recommends continuous improvement opportunities and escalates potential risk issues to the Senior Manager.



The role is accountable to collaborate with others internally and externally (e.g. LOB Finance end-users, departments in the Chief Accountant’s Group, Corporate Treasury, Capital Markets Finance and Technology & Operations) to resolve issues that cut across functional lines and provide solutions ensuring timely, accurate, efficient and effective service delivery.


The role ensures proper processes are in place to effectively execute activities in line with accounting and regulatory, enterprise, and Finance standards as well as the Bank’s governance policies.



A. CAG Accounting Service Delivery

B. Relationship Management

C. Continuous Improvement

D. Governance and Control

E. Managerial Support

KEY ACCOUNTABILITIES


A. CAG Accounting Service Delivery

Provide timely, accurate, and efficient service delivery in support of ongoing, month-end, quarter-end, and year-end CAG processes in accordance with appropriate principles and standards. These processes are executed using multiple financial platforms (e.g. CODA, JADE, HGL, Hyperion, FAST, FC, S4)

  • Key Accounting Operations activities may include:
    • Journal Entries: Create, or approve or post journal entries
    • Reconciliations: Review and approve complex account & bank reconciliations according to “segregation of duties” standards
    • Cash Management: Manage payments related to interest, dividends, capital, debt and other cash transactions; review and sign off on daily cash flow report for units/entities

Financial Close: Review and approve profit wire reconciliations, revaluation of foreign investments, hedge accounting, prepare continuity schedules for retained earnings, dividends and other designated

  • transactions for Parent Bank and other related entities.
  • Consolidation: Consolidate P&L of Canadian and foreign subsidiaries and branches, reconcile intrabank wash accounts
  • Pension Plan administrative support: Provide operational administrative support such as investment planning directives, financial reporting, and back office administration to the BMO Canada Pension Plan.
Investigate and resolve or escalate issues with respect to financial data quality, unusual transactions, incomplete data, outstanding items, and reconciliations.
Accountable to support the month-end and quarter-end close process including regulatory and external reports and attestation to the validity of the results.
Deal directly with finance colleagues in Canada, US and abroad to resolve intra-company transaction reporting issues within very tight deadlines to ensure the consolidated results of the Bank are correct
Review analysis of financial statements, investment accounts, and risk reports, etc. prepared in support of partners/clients.
Within the scope of established Service Level Agreements, respond to partner/client requests.
Escalate discretionary requests to the Senior Manager for filtering and prioritization.
Review and approve the work of other Analysts as to accuracy and quality control and to maintain “segregation of duties”.
Provide support to other CAG teams as defined by the Senior Manager in order to optimize resource efficiency and balance workload across CAG.
Develop and maintain expertise in accounting and/or reporting
Collaborate on investment, funding and tax initiatives to ensure the timely flow of funds and accurate recording of accounting entries.

B. Relationship Management

Develop and maintain effective relationships with partner/client staff to process transactions and fulfill service delivery expectations.
Understand the clients’ accounting needs and assist in developing effective processes to achieve those needs
On behalf of the group liaise with various areas of the Bank including Taxation, Corporate Treasury, T&S, Group Finances, Corporate Controllers, Corporate Financial Information Services, subsidiary companies, and back offices to resolve operational issues
Escalate client issues and conflicts to the Senior Manager as appropriate.
Provide advice and technical expertise, within the scope of assigned tasks, to the immediate team, CAG colleagues, partners/clients, and for enterprise initiatives, as required.

C. Continuous Improvement

Provide input, analysis, and recommendations for the continuous improvement of CAG processes and procedures within the scope of the work team and participate in the planning and implementation of new processes.

Areas of significant focus
  • Recommendations for standardization of processing platforms and procedures
  • Input and recommendations for efficiencies to processes during the monthly and quarterly processing cycles to ensure it is completed successfully within extremely tight time constraints


Be knowledgeable of changing requirements for accounting and manage the changes into the groups and into work processes

Maintain a current knowledge of accounting and regulatory requirements and communicate the potential accounting/operational impacts and associated accounting disclosure issues to the Senior Manager Accounting

Identify and recommend potential technology enablers to improve efficiency.

D. Governance and Control

Provide support to internal audits, external audits, and independent audits by providing documentation, information, or responding directly to queries
Be knowledgeable of changing requirements for accounting and manage the changes into the groups and into work processes
Maintain a current knowledge of accounting and regulatory requirements and communicate the potential accounting/operational impacts and associated accounting disclosure issues to the Senior Manager.
Ensure compliance with SOX and other controls to mitigate financial and operational risk.
Escalate issues to the Senior Manager for action or resolution.


  • Managerial Support
Assist the Senior Manager by performing activities such as: coordination and scheduling of work, resource forecasting, quality control, and resolution of team-wide issues.

Mentor and train junior members of the group.
Provide input on employee performance to the Senior Manager.

Qualifications


  • Knowledge:


  • Attained or actively pursuing an accounting designation
  • Bachelor’s degree in Finance or Accounting, or related discipline
  • 5+ years relevant experience
  • Expert in the application of accounting concepts pertinent to finance shared services
  • Advanced knowledge in the use of financial software applications, databases, spreadsheets and/or word processing is desirable.
  • Expert knowledge of the Bank’s governance and control frameworks as well as Bank systems


  • Skills:


  • Strong operational, governance and analytical background
  • Excellent ability to evaluate processes, identify potential problems and recommend feasible solutions
  • Strong ability to communicate and network with others to convey information effectively
  • Good ability to manage diverse relationships with partners/clients
  • Excellent analytical skills; the ability to discern large amounts of data and focus on the critical business issues
  • Excellent attention to detail and accuracy
  • Strong communication and organizational skills
  • Respect for highly confidential information
  • Ability to work under pressure and tight timeframes



We’re here to help









At BMO we have a shared purpose; we put the customer at the centre of everything we do – helping people is in our DNA. For 200 years we have thought about the future—the future of our customers, our communities and our people. We help our customers and our communities by working together, innovating and pushing boundaries to bring them our very best every day. Together we’re changing the way people think about a bank.




As a member of the BMO team you are valued, respected and heard, and you have more ways to grow and make an impact. We strive to help you make an impact from day one – for yourself and our customers. We’ll support you with the tools and resources you need to reach new milestones, as you help our customers reach theirs. From in-depth training and coaching, to manager support and network-building opportunities, we’ll help you gain valuable experience, and broaden your skillset.









To find out more visit us at https://bmocareers.com/ .







BMO is committed to an inclusive, equitable and accessible workplace. By learning from each other’s differences, we gain strength through our people and our perspectives. Accommodations are available on request for candidates taking part in all aspects of the selection process.

Job

Finance and Accounting

Primary Location

Canada-Ontario-Toronto

Organisation

Finance-X000074

Schedule

full-time

Job Posting

08/09/18

Unposting Date

Ongoing

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