Associate Director, Cuso Regulatory Interpretation And Accounting Advisory

Job Summary
Associate Director, CUSO Regulatory Interpretation and Accounting Advisory, will report to Director, CUSO Regulatory Interpretation and Accounting Advisory. As part of the CUSO Regulatory Interpretation and Accounting Advisory team, the individual will play a critical role in providing regulatory and technical accounting Interpretation and guidance to various functions across the organization to ensure CUSO is in compliance with U.S. GAAP, IFRS and U.S. regulatory standards/instructions.
Job Description
What is the Opportunity?
Associate Director, CUSO Regulatory Interpretation and Accounting Advisory, will report to Director, CUSO Regulatory Interpretation and Accounting Advisory. As part of the CUSO Regulatory Interpretation and Accounting Advisory team, the individual will play a critical role in providing regulatory and technical accounting Interpretation and guidance to various functions across the organization to ensure CUSO is in compliance with U.S. GAAP, IFRS and U.S. regulatory standards/instructions.
What will you do?
PURPOSE

• Support the Consolidated U.S. Operation (CUSO) inclusive of RBC US Group Holdings, the U.S. Intermediate Holding Company (IHC) who is subject to the Dodd Frank Regulation YY requirements. It is subject to various regulatory filings to the Federal and local Regulators in accordance with U.S. GAAP and required to publish consolidated audited financial statements. Additionally, the IHC has regulated subsidiaries within RBC's CUSO operations that are also required to have audited financial statements filed with the SEC in accordance with U.S. GAAP.
• Misstatement in the preparation and presentation of financial and regulatory data is a material risk which attracts significant reputational risk and risk of action by our regulators that is mitigated by the design, implementation, and maintenance of effective internal controls. Additionally, financial data is provided to RBC Head Office for inclusion in the global financial and regulatory reporting process and the CUSO entities must comply with RBC's global standards for control, accounting (under IFRS), and local reporting.
• This role will be responsible for providing technical accounting expertise ensuring that CUSO is compliant with U.S. GAAP and IFRS. The individual will collaborate with business leaders and other functional areas including RBC's accounting policy group (APG) to provide technical accounting guidance on strategic business transactions, develop accounting position papers, and determine appropriate conclusions.
• The individual will collaborate with business leaders and other functional areas including RBC Corporate Treasury, Accounting Policy Group (APG), Capital Planning and FRB Regulatory Reporting functions to provide guidance on new business/products/strategic initiatives, develop accounting and regulatory reporting position papers with appropriate conclusions.
• This role will also assist Director, IHC Accounting and Regulatory Advisory, with the accounting and regulatory advisory function, providing technical expertise on accounting and Regulatory Interpretations to ensure that CUSO is compliant with U.S. GAAP, IFRS and U.S. regulatory standards/instructions.
• The individual will report to Director, IHC Accounting and Regulatory Advisory and will ensure operational effectiveness in compliance with the reporting policy.

PRINCIPAL RESPONSIBILITIES:

• Responsible for providing U.S. GAAP guidance to CUSO legal entity controllers on all accounting matters. Stay current on changes to accounting standards, SEC guidance and PCAOB regulations. Compile and publish a quarterly U.S. GAAP accounting update for the region summarizing new and proposed accounting pronouncements and their impact to the CUSO (25%).
• Collaborate internally with CUSO legal entity controllers to support the preparation and review of U.S. financial statements and disclosures. Also collaborate and represent the organization externally in interactions with auditors, peer banks and industry groups (25%)
• Review, contribute, and generate (when appropriate) U.S. GAAP accounting analysis inclusive of regulatory impacts for New Business Committee (NBC) / Project Approval Request (PAR) in coordination with Financial Control (10%).
• Chair the U.S. Finance New Business Committee working group and inform U.S. senior management on impact of new NBCs/PARs. Drive collaboration with business units and corporate functions in relation to new products/transactions to identify and resolve all accounting and regulatory issues (10%).
• Accountable for communication, consistency, and coordination with APG on implementation of U.S. GAAP and IFRS standards. Coordination with APG ensuring U.S. GAAP standards is correctly implemented. Assist APG in researching U.S. GAAP literature relating to new accounting standards (10%).
• Consult, review, and provide input or consultation to APG on accounting policies in the form of Corporate Accounting Policy Manuals (CAPMs) and white papers. Provide U.S. GAAP interpretive support for CAPMs revisions in coordination with APG as required (10%).
• In coordination with APG, ensure consistency of application of CAPM to entities required to report under U.S. GAAP, and perform training to local finance teams and U.S. businesses on new U.S. GAAP standards (10%).

AUTHORITIES, IMPACT, RISK:

• Authorized to interact directly with external auditors to respond to various inquires. Impact is wide reaching across all RBC's US operations (Capital Markets, Wealth Management, Asset Management and Retail Banking), in the reporting of accurate and timely consolidated financial results.

KEY RELATIONSHIPS:

• Finance Contacts - Legal Entity Controllers, Product Control, Toronto Financial Reporting and APG
• Support Functions (Operations, IT, Legal, Treasury)
• Regulatory Reporting Teams - FRB, SEC, and Capital
• External and Internal Auditors
• U.S. Compliance
• Global Risk Management

What do you need to succeed?

• Bachelor's degree (preferred Accounting or Finance), MBA and/or CPA a plus.
• 8+ years of relevant experience in Financial Services with focus on technical accounting and regulatory reporting policy.
• Deep and extensive capital markets experience in complex structures enabling an individual to deconstruct transactions and understand the underlying risks.
• CPA with Big 4 experience preferred.
• Ability to develop and manage relationships with industry peers.
• Strong leadership skills, oral & written communication skills.

What's in it for you?
We thrive on the challenge to be our best, progressive thinking to keep growing, and working together to deliver trusted advice to help our clients thrive and communities prosper. We care about each other, reaching our potential, making a difference to our communities, and achieving success that is mutual.

• A comprehensive Total Rewards Program including bonuses and flexible benefits, competitive compensation, commissions, and stock where applicable
• Leaders who support your development through coaching and managing opportunities
• Ability to make a difference and lasting impact
• Work in a dynamic, collaborative, progressive, and high-performing team
• Opportunities to do challenging work
• Opportunities to building close relationships with clients

The good-faith expected salary range for the above position is $150,000 - $180,000 depending on factors including but not limited to the candidate's experience, skills, registration status; market conditions; and business needs. This salary range does not include other elements of total compensation, including a discretionary bonus and benefits such as a 401(k) program with company-matching contributions; health, dental, vision, life and disability insurance; and paid time-off plan.
RBC's compensation philosophy and principles recognize the importance of a highly qualified global workforce and plays a critical role in attracting, engaging and retaining talent that:

• Drives RBC's high performance culture
• Enables collective achievement of our strategic goals
• Generates sustainable shareholder returns and above market shareholder value

Job Skills
Accounting, Accounting Finance, Decision Making, Financial Planning and Analysis (FP&A), Long Term Planning, Oral Communications, Organizational Savvy and Politics, Strategic Thinking, Team Management, Time Management
Additional Job Details
Address:
GOLDMAN SACHS TOWER, 30 HUDSON STREET:JERSEY CITY
City:
Jersey City
Country:
United States of America
Work hours/week:
40
Employment Type:
Full time
Platform:
Office of the CFO
Job Type:
Regular
Pay Type:
Salaried
Posted Date:
2024-02-16
Application Deadline:
Inclusion and Equal Opportunity Employment
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