Senior Manager, Hedge Accounting

at  BMO Financial Group

100 King Street West Toronto Ontario,M5X 1A1

As part of the Accounting Policy team within the Enterprise Controllership group of BMO, the successful candidate will be responsible for all aspects of hedge accounting under IFRS. This includes acting as a trusted advisor to the Lines of Business with respect to their hedging strategies, writing and reviewing those strategies as well as understanding and advising on the theoretical and practical aspects of hedge accounting. In addition, you will be responsible for ensuring financial information is disclosed appropriately in the Bank’s financial statements. This is a highly technical role encompassing both the operational and theoretical, ensuring that strategies and initiatives are executed/delivered in compliance with IFRS as well as our internal policies and procedures. The ideal candidate has excellent knowledge of Financial Instruments (IFRS 9 and IAS 39) and other related accounting standards, with a CA and/or CFA designation.

• Oversee all aspects of hedge accounting under IFRS 9 / IAS 39 for the Bank.
• Serve as a trusted advisor to Corporate Treasury, Capital Markets units, and the Market Risk Group, responsible for 100% of all hedge accounting positions in the total Bank’s books. Provided strategic guidance and developed well-considered solutions aligned with hedge accounting standards and the Bank’s policies.
• Engage proactively with internal and external auditors, fostering a collaborative relationship to safeguard shareholders’ interests. Serve as a primary contact for peers and industry groups on hedge accounting policies or practices to incorporate diverse perspectives.
• Spearhead the timely production of monthly, quarterly, and annual reports related to the Bank’s hedge accounting, ensuring compliance with SOX requirements.
• Lead strategic initiatives and transformation projects and identify areas for improvement or control enhancement, collaborate with stakeholders to address operational challenges, streamline processes, and enhance efficiency through automation.
• Build and sustain trust with leadership by consistently providing effective executive communication with consistent updates.
• Fosters a culture aligned to BMO purpose, values and strategy and role models BMO values and behaviors in all that they do.
• Ensures alignment between values and behavior that fosters diversity and inclusion.
• Regularly connects work to BMO’s purpose, sets inspirational goals, defines clear expected outcomes, and ensures clear accountability for follow through.
• Builds interdependent teams that collaborate across functional and operating groups to create the highest value for all stakeholders.
• Attracts, retains, and enables the career development of top talent.
• Improves team performance, recognizes and rewards performance, coaches employees, supports their development, and manages poor performance.
• Provides strategic input into business decisions as a trusted advisor.
• Makes recommendations to senior leaders and oversees the execution a component of the accounting policy strategy.
• Acts as a subject matter expert on relevant regulations and policies.
• Influences and negotiates to achieve business objectives.
• Identifies emerging issues and trends to inform decision-making.
• Makes recommendations related to policy, standards and strategies for identified controller-managed risks.
• Supports the execution of strategic initiatives in collaboration with internal and external stakeholders.
• Helps determine business priorities and best sequence for execution of business/group strategy.
• Conducts independent analysis and assessment to resolve strategic issues.
• Defines business requirements for analytics & reporting to ensure data insights inform business decision making.
• Leads the execution of accounting policy programs; assesses and adapts as needed to ensure quality of execution.
• Monitors new accounting standards and analyzes impacts to policy and standards.
• Supports the development of tailored messaging about accounting policy changes & impacts, which may include writing, editing and distributing communications.
• Supports the development of financial statements and financial disclosure documents to ensure consolidated Bank results meet International Financial Reporting Standards and regulatory requirements.
• Acts as a key contact with internal and external regulatory bodies and industry groups to provide feedback on significant accounting issues and financial reporting matters.
• Prepares reports on accounting policy matters for senior management and industry and regulatory bodies as appropriate.
• Builds effective relationships with internal/external stakeholders.
• Breaks down strategic problems, and analyses data and information to provide insights and recommendations.
• Executes analyses to support the design and development of Accounting Policy strategy / programs.
• Employs systems (e.g. customized exception reports, tracking reports etc.) to manage information.
• Integrates information from multiple sources to enable more efficient processes, enhanced analysis and/or streamlined reporting.
• Executes work to deliver timely, accurate, and efficient service.
• Operates at a group/enterprise-wide level and serves as a specialist resource to senior leaders and stakeholders.
• Applies expertise and thinks creatively to address unique or ambiguous situations and to find solutions to problems that can be complex and non-routine.
• Implements changes in response to shifting trends.
• Broader work or accountabilities may be assigned as needed.
• Qualifications:
• Typically 7+ years of relevant experience and/or certification in related field of study or an equivalent combination of education and experience.
• One or more of the following preferred: MBA, CA, CFA, CGA, CMA.
• Advanced understanding of SOX, IFRS, and GAAP requirements and potential impacts.
• Ability to interpret Policy / program direction and realign/develop strategies accordingly.
• Seasoned professional with a combination of education, experience and industry knowledge.
• Verbal & written communication skills - In-depth / Expert.
• Analytical and problem solving skills - In-depth / Expert.
• Influence skills - In-depth / Expert.
• Collaboration & team skills; with a focus on cross-group collaboration - In-depth / Expert.
• Able to manage ambiguity.
• Data driven decision making - In-depth / Expert.

• Oversee all aspects of hedge accounting under IFRS 9 / IAS 39 for the Bank.
• Serve as a trusted advisor to Corporate Treasury, Capital Markets units, and the Market Risk Group, responsible for 100% of all hedge accounting positions in the total Bank’s books. Provided strategic guidance and developed well-considered solutions aligned with hedge accounting standards and the Bank’s policies.
• Engage proactively with internal and external auditors, fostering a collaborative relationship to safeguard shareholders’ interests. Serve as a primary contact for peers and industry groups on hedge accounting policies or practices to incorporate diverse perspectives.
• Spearhead the timely production of monthly, quarterly, and annual reports related to the Bank’s hedge accounting, ensuring compliance with SOX requirements.
• Lead strategic initiatives and transformation projects and identify areas for improvement or control enhancement, collaborate with stakeholders to address operational challenges, streamline processes, and enhance efficiency through automation.
• Build and sustain trust with leadership by consistently providing effective executive communication with consistent updates.
• Fosters a culture aligned to BMO purpose, values and strategy and role models BMO values and behaviors in all that they do.
• Ensures alignment between values and behavior that fosters diversity and inclusion.
• Regularly connects work to BMO’s purpose, sets inspirational goals, defines clear expected outcomes, and ensures clear accountability for follow through.
• Builds interdependent teams that collaborate across functional and operating groups to create the highest value for all stakeholders.
• Attracts, retains, and enables the career development of top talent.
• Improves team performance, recognizes and rewards performance, coaches employees, supports their development, and manages poor performance.
• Provides strategic input into business decisions as a trusted advisor.
• Makes recommendations to senior leaders and oversees the execution a component of the accounting policy strategy.
• Acts as a subject matter expert on relevant regulations and policies.
• Influences and negotiates to achieve business objectives.
• Identifies emerging issues and trends to inform decision-making.
• Makes recommendations related to policy, standards and strategies for identified controller-managed risks.
• Supports the execution of strategic initiatives in collaboration with internal and external stakeholders.
• Helps determine business priorities and best sequence for execution of business/group strategy.
• Conducts independent analysis and assessment to resolve strategic issues.
• Defines business requirements for analytics & reporting to ensure data insights inform business decision making.
• Leads the execution of accounting policy programs; assesses and adapts as needed to ensure quality of execution.
• Monitors new accounting standards and analyzes impacts to policy and standards.
• Supports the development of tailored messaging about accounting policy changes & impacts, which may include writing, editing and distributing communications.
• Supports the development of financial statements and financial disclosure documents to ensure consolidated Bank results meet International Financial Reporting Standards and regulatory requirements.
• Acts as a key contact with internal and external regulatory bodies and industry groups to provide feedback on significant accounting issues and financial reporting matters.
• Prepares reports on accounting policy matters for senior management and industry and regulatory bodies as appropriate.
• Builds effective relationships with internal/external stakeholders.
• Breaks down strategic problems, and analyses data and information to provide insights and recommendations.
• Executes analyses to support the design and development of Accounting Policy strategy / programs.
• Employs systems (e.g. customized exception reports, tracking reports etc.) to manage information.
• Integrates information from multiple sources to enable more efficient processes, enhanced analysis and/or streamlined reporting.
• Executes work to deliver timely, accurate, and efficient service.
• Operates at a group/enterprise-wide level and serves as a specialist resource to senior leaders and stakeholders.
• Applies expertise and thinks creatively to address unique or ambiguous situations and to find solutions to problems that can be complex and non-routine.
• Implements changes in response to shifting trends.
• Broader work or accountabilities may be assigned as needed.
• Qualifications:
• Typically 7+ years of relevant experience and/or certification in related field of study or an equivalent combination of education and experience.
• One or more of the following preferred: MBA, CA, CFA, CGA, CMA.
• Advanced understanding of SOX, IFRS, and GAAP requirements and potential impacts.
• Ability to interpret Policy / program direction and realign/develop strategies accordingly.
• Seasoned professional with a combination of education, experience and industry knowledge.
• Verbal & written communication skills - In-depth / Expert.
• Analytical and problem solving skills - In-depth / Expert.
• Influence skills - In-depth / Expert.
• Collaboration & team skills; with a focus on cross-group collaboration - In-depth / Expert.
• Able to manage ambiguity.
• Data driven decision making - In-depth / Expert