Financial Reporting Lead

This is a multi-faceted role involving several core responsibilities that rotate over time, at management’s discretion, to ensure coverage, professional growth and operational efficiency. This position provides leadership and support across various departmental functions, which are not performed simultaneously by the individual in this role. These functions include : (i) compliance with periodic public company financial reporting requirements of the Securities and Exchange Commission (SEC) and preparation of consolidated and stand-alone financial statements in accordance with USGAAP; (ii) compliance with periodic financial reporting requirements of Federal banking regulators (Federal Reserve, OCC, FDIC) and other bank regulatory authorities as needed; (iii) preparation, review and analysis of periodic financial statement consolidations and financial reports for use of senior management and the Board of Directors, and (iv) compliance with Company’s policies and procedures regarding Internal Controls over Financial Reporting (ICFR) based on criteria established in Internal Control – Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO). This position supports the Financial Reporting Manager as expert in matters requiring specialized regulatory banking, technical accounting and SEC reporting expertise and provides support for managing periodic interactions with internal and external auditors and other stakeholders.

Responsibilities :

Outlined below are the core responsibilities associated with this position. These core responsibilities rotate over time, at management’s discretion. The individual in this role does not perform all key functions simultaneously.

SEC and Statutory Reporting

Prepare and conduct reviews of periodic financial statements and management and discussion and analysis for inclusion in the Company’s filing with the Securities and Exchange Commission (SEC) and other statutory reporting uses. This responsibility includes :

Compilation of consolidated financial statements in accordance with SEC disclosure requirements

Compilation of relevant financial and non-financial data necessary for developing and keeping current the Company Management Discussion &Analyses (MD&A). This includes coordination with the work of others within the organization.

Draft explanations of key financial ratios, changes in financial position, results of operation, and all other relevant discussions for inclusion in the Company’s MD&A.

Coordination and preparation of all SEC filings.

Compilation of statutory stand-alone and consolidated financial statements under GAAP for the Company’s subsidiaries and benefit plans.

Ensure schedules prepared for inclusion in the company’s financial and non-financial disclosures and analyses are mathematically correct and agree to underlying books and records. All work must be self-reviewed, controls and check points must be established to ensure that the information is accurate and in agreement with the bank’s underlying records.

Regulatory Reporting

Prepare and conduct reviews of periodic regulatory reports (FFIEC 031, FRY-9C, FRY-9LP, FRY-6 among others) for compliance with Office of the Controller of the Currency, the Federal Reserve Bank of Atlanta and New York, the Federal Deposit Insurance Corporation and Cayman Islands regulatory financial reporting requirements. This responsibility includes :

Develop a thorough understanding of the instructions applicable to each required report

Researching new or updates to the various instructions available for the preparation of reports

Leverage of monthly account variance analyses for timely and accurate compliance with regulatory reporting instructions.

Compilation and analysis of relevant financial and non-financial data from various departments

Transfer data into regulatory reporting software applications supporting the process

Automate Regulatory reports data extraction, daily data extraction.

Analyze and solve issues pertaining to data transfers and macros within excel worksheets

Collaborate with other departments, to ensure a smooth monthly report generation

Month-End Closing and Internal Reporting

Prepare and conduct reviews of monthly consolidated financial statements for all entities, including Bank Holding Companies, non-banking holding companies, the Bank and subsidiaries. This responsibility includes :

Compilation of financial and relevant nonfinancial data from various departments

Maintenance of general ledger source worksheets and tax accounts worksheets during month-end closing procedures

Journal entries for consolidation purposes, including tax entries and equity method

Review and research of monthly variances

Provide detail information to external tax consultants as required

Compilation and review of monthly reporting package for the Bank including the financial position, results of operations, capital ratios and other applicable requirements

Compilation and review of subsidiaries board package content for accuracy and consistency with financial statements

Other General Responsibilities

Collaborate in and oversee the process of maintaining operating effectiveness of control activities under the Company’s ICFR process. This responsibility includes :

Coordination of reporting responsibilities (certifications)

Assess sufficiency and adequacy of control documentation of current processes to reflect most current business practices

Maintain appropriate evidence of the operating effectiveness of controls activities in place.

Manage interactions with internal and external auditors and others within the organization.

Assist in ensuring compliance with the department’s established internal control procedures

Conduct and review research and analysis on the potential implications of new and / or revised existing pronouncements to new and existing products and services. This responsibility includes :

Drafting technical accounting memoranda supporting analysis of the implications of the pronouncement in accordance with reporting requirements. Documentation should include a first point of view, proposed actions needed for implementation and a coordination strategy when collaboration from other areas within the organization may be necessary.

Maintenance and ongoing compliance with the Company's global accounting policies (US GAAP, IFRS, Other basis of accounting). This includes assisting with the development of adequate documentation to support accounting and reporting judgments and conclusions in predetermined formats. The analyses must be as robust and close to final as possible to satisfy key stakeholders’ expectations.

Being able to elaborate on the topics being discussed and the potential financial and operational implications to the Company’s ability to recognize implications of new rules to the business.

Collaborate in and oversee the process of assisting with internal and external auditor requirements, participate in special projects within the department, and ad hoc reporting. This responsibility includes :

Assist in keeping updated the department’s procedures manuals

Troubleshoot and recreation of existing reports utilizing Excel Spreadsheets, macros and any other available resources

Compile the necessary data to comply with periodic internal and external audit requests

Assist in monitoring and maintenance of central data repositories as needed

Assist in the development of automated reports to limit excel dependencies

Serve as liaison with Information Systems Department, Project Management Office, and others

Participate in special projects and Ad Hoc reports and analyses in support of new processes, policies, initiatives and procedures.

Must communicate effectively tailoring the message to the intended recipient. The employee must have the ability to deliver written messages in a way that is clearly understood by the recipient.

Employee should work as a team player and be perceived in the bank as such. Employee should work in close collaboration with others in the organization and all interactions with others should be perceived as such. Help from other staff members is encouraged, but delegation of the assigned tasks which may create a backlog to others is discouraged.

Minimum Education and / or Certifications Requirements :

Minimum of a bachelor's degree or equivalent in accounting, finance or related field is required. A masters in accounting is highly desirable. Must be eligible, in the process of becoming eligible, to sit for the CPA exams. CPA is highly desirable.

Minimum Work Experience Requirements :

Minimum of seven years of experience in banking regulatory and corporate and public accounting, including experience in external financial reporting and public company reporting requirements (GAAP / SEC)

Technical and / or Other Essential Knowledge :

Advanced previous experience with MS Office is required. Peoplesoft proficiency not required but desirable. SEC and regulatory reporting banking tools and applications experience desired (Wdesk, CDM, Active Disclosure, SmartCall). Must possess excellent technical research, analytical, oral and written communication skills.