Our client, a well respected and wholly owned subsidiary of an international bank, is looking for an Senior
Vice President of Finance to join their team.
The successful candidate will be responsible for effective management and enhancement of all the financial matters related to the Bank.
They will working closely with the leadership team on strategic planning, execution, financial and operational goals. The candidate will be a key member of the executive management team and liaison point with regulators.
Ensure the integrity, timeliness and relevance of reporting to a number of key stake holders, including the board of directors, management, regulators, and tax authorities
Manage the relationship with internal and external auditors, board audit and risk committee ensuring that audit issues identified are properly managed
Develop the finance function (people, processes and outcomes) and make the department fit for purpose
Monitor developments in the accounting technical space to ensure the Bank’s reporting is to its highest standards
Oversee cash flow planning and investment, asset management, financing strategies and activities, as well as banking relationships
Manage the processes for financial forecasting and budgets, and overseeing the preparation of all financial reporting with the aim to ensure it is produced in accordance with the Bank procedures and regulatory requirements
Develop and maintain the capital budget of the bank, guiding all financial decisions to ensure they are consistent and aligned with the business strategy and goals.
Advise on long-term business and financial planning
ALM / Treasury
Manage the balance sheet of the bank including the interest rate, foreign exchange rate and liquidity aspects with profitability and prudence within the norms of regulatory compliance
Provide oversight and maintain responsibility for the treasury function to ensure compliance with internal and external requirements including reporting
Develop the treasury function (people, processes and outcomes) and make the department fit for purpose
Prepare and own the contingency liquidity plan
Keep BCM updated
Regulatory and Controls
Ensure that there are constraint and coherent messages communicated to the regulators between the various work streams
Develop and document appropriate accounting policies and procedures with necessary internal controls to ensure that sound financial systems are in place and adhered to
Ensure that the policies and procedures of the Bank relating to financial data and reporting are documented
Ensure that the regulatory developments are communicated throughout the Bank to the relevant functions and that these are acted upon
Ensure that all regulatory and financial reporting is accurate, timely, high-quality, and complies with the reporting requirements and is transparent
Direct the production of the Banks financial and management reporting as required by local regulators, Group Head Office and any other regulatory requirements.
Direct tax planning and compliance including filing of Banks annual tax returns
Support the CEO and the head office in the development and maintenance of a strategic business plan with the relevant inputs of budgetary control, financial forecasts and management reporting
Develop a budget and forecasts and to put in place appropriate monitoring and reporting of management reporting on the P and L and balance sheet of the Bank
Set out clear, agreed and measured financial objectives for all levels and activities in the Bank
Attend the EXCO, and ensure that the senior management of the Bank have the financial data required to support business decisions, and monitor performance
Be a member of or attend other committees as required by the Bank
Manage the engagement with regulators with respect to prudential rather than conduct of business requirements. In particular, take responsibility for the documentation and implementation of liquidity and capital reporting and managing the implementation of enhanced governance processes within the Bank
Manage relationship with the regulators as the focal point of liaison and manage all interactions with the external and internal auditors
Have oversight responsibility for other organizational functions such as infrastructure management, IT and general administration
Guide and mentor all direct reports to foster an environment of continuous improvement, accountability and service
Manage any other responsibilities in the interest of the Bank, that may arise from time to time
Qualifications MBA in Finance
Professional accounting designation (CA / CPA preferred)
Minimum 10 years banking experience in finance and accounting or similar role
Knowledge of Canadian regulatory compliance as well as the bank act, financial and cash flow
management and corporate finance
Proven leadership and people management expertise
Analytical problem solving and decision making abilities
Excellent communication skillsCompensation CompensationContact Information Should your skills and experience match the requirements of this position, please forward your resume to Faye Thorek at Thorek / Scott and Partners.