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Open nowPosted 41 days ago

Senior Manager, Hedge Accounting & Financial Operations

eqbank84 open roles

Where
Toronto
Work mode
Hybrid
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Your applicationOpen nowSenior Manager, Hedge Accounting & Financial Operationseqbank · Toronto
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  5. 34.5%30 days
This job: posted 41 days ago

The posting

Join a Challenger

At EQ, we're remaking banking so every Canadian gets ahead, every day. Serving nearly 4 million Canadians from coast to coast, we offer a wide variety of financial services from banking and lending, to trust and credit union solutions.

We've been at this since 1970, challenging the conventions of traditional banking with smarter, faster, and more connected financial experiences.

What's kept us moving? The people behind it all: challengers who ask better questions, push back on old assumptions, and look for a better way forward.

If you're driven to help reshape how banking works for Canadians and the businesses that power our economy, this could be your next big opportunity.

We can’t wait to get to know you!

The Work

The Senior Manager, Hedge Accounting & Financial Operations is a key member of the Accounting and Finance team. Reporting to the Director, Financial Reporting, Policies and Controls, the role will be responsible for providing monthly analysis for derivatives, hedge accounting and fair valuations. The role works closely with various departments including Treasury, Capital Markets, Corporate Development, and Securitization operations, and is responsible for providing middle-office and back-office functions for securities trading and derivatives including settlements and valuations. The role will also be responsible for financial statement disclosures on derivative financial instruments, including compliance and reporting for IIROC debt transactions. The role will also provide support to the banking operations, procurement, and accounts payable functions within the Financial Operations team.

Core Responsibilities

  • Manage fair value reporting of over $14 billion (notional amount) of derivatives and hedging instruments and eliminate P&L volatility through hedge accounting.
  • Prepare hedge accounting documentation and effectiveness testing, ensuring full compliance with IAS 39 and IFRS 9 disclosure requirements.
  • Develop and implement new procedures to achieve hedge accounting for various derivatives (swaps, forwards, etc.)
  • Manage settlements for security transactions, including swap payments and receipts.
  • Coordinate with traders in Treasury/Capital Markets, custodians, and counterparties to resolve any settlement issues.
  • Review and provide entries related to fair value through P&L (FVtPL) investments.
  • Ensure appropriate controls exist over securities and derivative valuations, and hedge accounting transactions.
  • Prepare/review general ledger entries, and monthly reconciliation and continuity schedules for various accounts.
  • Prepare/review monthly financial statements, financial report packages and variance analysis commentary as well as other monthly, quarterly, and year-end analyses, as required.
  • Prepare/review assigned financial statement notes in the annual and quarterly financial reports.
  • Coordinate with various groups to obtain information such as counterparty collateral margins to complete the related financial statement disclosure.
  • Assist external auditors during quarterly reviews and the year-end audit.
  • Ensure reporting for IIROC debt transactions and ICOFR documentation are submitted on a timely basis.
  • Document new operational processes.
  • Develop process improvement initiatives.
  • Complete ad-hoc projects, as assigned.

Let's Talk About You

  • University/post-graduation education in Accounting, Commerce, or Business.
  • CPA designation (CMA, CGA, CA) is required.
  • 10+ years of experience at financial institutions including 3 years with an accounting firm having worked with clients from financial institutions.
  • 1-3 years derivative accounting/valuation experience, including hedge accounting, with sound technical knowledge.
  • Knowledge of IFRS is required.
  • Ability to clearly communicate technical, analytical, quantitative or conceptual information and ideas using language that is appropriate to the target audience.
  • Demonstrated ability using MS Office (Excel, Access, PowerPoint and Word).
  • Advanced Microsoft Excel skills, including developing/running macros would be an asset.
  • Ability to work extensively with formulas, data and spreadsheets.
  • Knowledge of Microsoft SQL Server Management Studio would be an asset.
  • Experience in securitization would be an asset.
  • Possess strong problem-solving and analytical skills, attention to detail, and organization skills.
  • Ability to multi-task competing priorities.
  • Ability to work in both team and individual environments.

What we offer [For full-time permanent roles]

💰 Competitive discretionary bonus

✨ Market leading RRSP match program

🩺 Medical, dental, vision, life, and disability benefits

📝 Employee Share Purchase Plan

👶🏽 Maternity/Parental top-up while you care for your little one

🏝 Generous vacation policy and personal days

🖥 Virtual events to connect with your fellow colleagues

🎓 Professional development and comprehensive Career Development program

💛 A fulfilling opportunity to join one of the top FinTechs and help create a new kind of banking experience

The incumbent will be working hybrid and in office time will be spent working from EQ Bank’s additional office space located at 2200-25 Ontario Street, Toronto, ON.

Equity, Diversity & Inclusion

EQ is committed to building an inclusive, accessible environment where every employee feels valued, respected, and supported. We believe our organization is stronger — and our people thrive — when we honour and celebrate diverse experiences, identities, and perspectives. We’re equally committed to supporting your growth, both professionally and personally.

We provide a barrier‑free recruitment process and work environment. If you require accommodations at any stage, we will work with you to ensure you can bring your best self to the process and beyond.

As part of our recruitment process, EQ uses AI to help screen, assess, and/or select applicants for this position. All AI-enabled outputs are reviewed and validated by our talent team. All candidates considered for hire must successfully complete a criminal background check and credit check. While we appreciate every application, an EQ recruiter will contact only those whose skills and experience most closely match the requirements of the role.

EQB Inc. (TSX: EQB) is the parent company of Equitable Bank, the country's seventh-largest Schedule I bank by assets, which operates EQ Bank, Canada's Challenger Bank™. EQB Inc. serves nearly 4 million Canadians and manages approximately $150 billion in combined assets under management and administration.

To learn more, visit eqb.investorroom.com and eqbank.ca.

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