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Sr. Financial Controller (CPA, CA designation) with insurance industry experience to support a IFRS 17 implementation project for a large banking client

Job Type: Contract
Positions to fill: 1
Start Date: Oct 03, 2022
Job End Date: Oct 09, 2023
Pay Rate: Hourly: Negotiable
Job ID: 123668
Location: Toronto
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Sr. Financial Controller (CPA, CA designation) with insurance industry experience to support a IFRS 17 implementation project for a large banking client 

Location: Downtown Toronto (Hybrid)
Duration: 12 months
Hours: 37.5hr/week

Purpose:
Contributes to the overall success of global insurance operations by directly supporting the Bank in its IFRS 17 implementation project.  The Senior Manager is a key member of the team involved in delivering on the Banks’ IFRS I7 project goals and detail project plans for Finance workstreams and supporting other operating workstreams in executing on their key deliverables. Ensures all activities conducted are in compliance with governing regulations, internal policies and procedures.
 
The Senior Manager, Insurance Finance will be located in Canada and reports to the Insurance Canada Director, Finance.
 

Must Have Requirements:
  • 10+ years working in Finance functions as a Financial controller.
    • Accountant with a professional CPA,CA designation.
  • Insurance industry background.
  • Experience with IFRS 17 
  • Experience in general ledger administration systems implementation projects.
  • 10+ year of experience in the financial services industry

Accountabilities
  • Support the design and implementation of operational changes required to key finance function process required to account and report under IFRS 17.  Areas of focus will include but are not limited chart of account/roll-ups, IFRS 17 compliant financial statements, monthly/quarterly close calendar activities and developing reports / reconciliations.
  • Support the design, development, testing and implementation of key IFRS17 tools, reconciliations and reports.  Areas of focus will include reports required to ensure completeness and accuracy of IFRS 17 subledger accounting and reporting.
  • Document process changes resulting from a gap assessment of existing vs new process impacting the month-end close calendar for subsidiary and parent bank financial reporting.  This will need to ensure that key SOX related controls are identified. Support development of any manual controls that need to be modified or updated due to implementation of IFRS 17 subledger.
  • Support work on transition year adjustments with the goal of quantifying, accounting for and developing financial statement disclosures for the transition adjustment by legal entity and for the parent bank.
  • Provide support in developing IT UAT testing strategy and participate in the execution of the strategy.
  • Provide support for the development of IFRS17 accounting policy choices and identify any operating changes required to implement IFRS 17 policy choices.
  • Provide support to execute transition year parallel accounting and reporting by drafting out close calendar activities during the parallel year. 
  • Prepare IFRS 17 compliant financial statements and related disclosures for each insurance subsidiary including all transition year disclosures.
  • Liaise with key members of the Data, Actuarial and Accounting policy workstreams as required.
  • Actively pursue effective and efficient operations of his/her respective areas, while ensuring the adequacy, adherence to and effectiveness of day-to-day business controls to meet obligations with respect to operational risk, regulatory compliance risk, AML/ATF risk and conduct risk, including but not limited to responsibilities under the Operational Risk Management Framework, Regulatory Compliance Risk Management Framework, AML/ATF Global Handbook and the Guidelines for Business Conduct.