Job Description

Scope of Position The Senior Accountant Regulatory Reporting is responsible for leading the preparation and submission of all finance related reporting to provincial and federal regulators on a timely and accurate basis.
Major Responsibilities

• Responsible for the review and preparation of all monthly, quarterly and annual financial statutory reports, destined for both the provincial regulator (FSRA and CHMC) for Alterna Savings and federal authorities (OSFI, CDIC, Statistics Canada, and Bank of Canada) for Alterna Bank including any ad hoc reports requested to be completed from such regulators
• Leads the coordination of obtaining information required for regulatory reporting from internal and external sources on a timely basis
• Submits all reporting (high volume), including Treasury related reporting, on behalf of Alterna Savings and Alterna Bank to the required regulators according to mandated deadlines
• Ensures reporting submitted to regulators complies with the mandated errors and omission penalty framework and responsible for correcting any validation errors identified by the regulatory submission portal
• Verifies the accuracy of information required for regulatory reporting
• Analyzes monthly variances in financial data used in regulatory reports
• Directly supports the Manager of Regulatory Reporting by compiling information to answer any inquiries from provincial and federal regulators
• Directly supports the Manager of Regulatory Reporting during any audits or examinations conducted by provincial or federal regulators
• Leads the efforts in obtaining the loan and deposit data (e.g., CBS, TDSR, LTV etc.) from acquired credit unions that are required for monthly regulatory reporting until such acquired credit unions are converted onto Alterna\xe2\x80\x99s banking system
• Creates dashboards for executive management using data analytic tools such as Power BI which show important KPIs and trends in Alterna\xe2\x80\x99s regulatory data
• Acts as a subject matter expert in regulatory reporting data used to compile regulatory reports and helps answer ad hoc data requests from external Alterna departments pertaining to regulatory reporting data
• Develops processes and workbooks to support the preparation of any new reports expected to be completed by regulators including the coordination of the development of data extracts needing to be developed by the IT department for new regulatory reports
• Uses advanced Microsoft Excel techniques (e.g. Power Queries) to automate workbooks used to support the preparation of regulatory reports
• Keeps abreast of developments in regulatory requirements (ex. OSFI guidelines, FSRA by-laws, Bank Act, Credit Unions and Caisses Populaires Act) and documents memos to Alterna management summarizing impacts of new regulatory requirements on a quarterly basis
• Liaises with external auditors on their review of the FSRA Annual Information Return
• Forecasts deposit insurance premium costs for annual budget purposes and summarizes reasons for expected increase in deposit premiums for Alterna executives
• Updates internal process narratives that document the preparation of all financial statutory reports which are reviewed during audits conducted by regulators or internal auditors
• Prepares journal entries for month-end close that pertain to areas impacted by regulatory reporting; and
• Acts as a backup to the Senior Accountant of Financial Reporting in their absence as it relates to month-end close responsibilities.

Expectations / Outcomes

• Accurate and timely (monthly, quarterly, annual) statutory reporting to provincial and federal regulatory authorities.

Qualifications Education / Certifications / Experience

• Bachelor\xe2\x80\x99s degree from an accredited university in accounting
• Working towards a professional designation such as a CPA; and
• Minimum 5 years of experience in regulatory and/or financial reporting role(s).

Knowledge / Skills

• Knowledge of the Credit Union and Caisses Populaires Act, Bank Act, and other regulatory requirements (such as OSFI Guidelines, DICO By-Laws) as relates to finance and accounting
• Knowledge of International Financial Reporting Standards (IFRS);
• Knowledge of industry trends and practices
• High level understanding of banking operations
• Analytical and problem-solving skills; and
• Superior proficiency in the usage and application of Microsoft Excel.

Competencies

• Team-player who is willing to roll up their sleeves and help others find solutions to regulatory reporting data issues
• Ability to thoroughly analyze issues and make informed and supportable decisions in a timely manner
• Excellent written and verbal communication skills
• Proven ability to function effectively in a high pressure, deadline-driven environment
• Demonstrated skill in prioritizing tasks and producing high quality, error-free work
• Initiative to keep abreast of changes in own fields of expertise
• Open-minded and adaptable to change
• Ability to work effectively with others (at all levels), demonstrating dependability, adaptability, and willingness to take direction as required
• Effective in providing advice, guidance and direction; and Utmost dependability and integrity.

About Alterna Savings Alterna Savings and Credit Union Limited (Alterna) has been the good in banking\xe2\x84\xa2 for over 110 years. Alterna is made up of Alterna Savings and Credit Union Limited and its wholly owned subsidiary, Alterna Bank. As the first full-service, member-owned cooperative financial institution outside Quebec, Alterna Savings shares its expertise with 217,000 members through a network of 46 branches across Ontario, as well as call centre and digital channels. Members and customers also benefit from an industry-leading online brokerage, investment management services, and have access to over 43,000 surcharge-free ATMs in North America with THE EXCHANGE Network in Canada and the Allpoint Network in the US.
Working at Alterna Alterna offers a fast-paced, impactful work experience in an organization that cares about doing good. For over 110 years, Alterna has been creating financial services that transform lives for the better, all while giving back to our community. We are incredibly proud of our corporate culture, where everyone works together towards a common goal, the financial wellbeing of our members and customers. This commitment has earned us several prestigious employer awards, including the National Capital Region\'s Top Employers award for seven years running.

• Although we appreciate all applicants, preference will be given to candidates who most closely meet the qualifications, key skills, and competencies outlined above.

• Alterna is compliant with the Ontarians with Disabilities Act. If you have a disability, please contact the recruiter to let us know how we can accommodate you.