What are the responsibilities and job description for the Senior Financial Manager - Regulatory Reporting Interpretations Office position at Truist Bank?
Language Fluency: English (Required)
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111Please review the following job description:
Play a key role in the newly created Regulatory Reporting Interpretations Office, which is a function within the Accounting Policy Group. This group monitors current and emerging accounting and regulatory reporting developments and interpretive matters, and provides Generally Accepted Accounting Principles (GAAP) and regulatory reporting research and guidance, among other activities. The primary responsibilities will include performing research and providing interpretive guidance as well as monitoring regulatory changes, all impacting key regulatory reports for banks.Essential Duties and Responsibilities
Following is a summary of the essential functions for this job. Other duties may be performed, both major and minor, which are not mentioned below. Specific activities may change from time to time.
1. Perform monitoring and interpretation of regulatory reporting requirements prescribed by the banking regulators (including the Federal Deposit Insurance Corporation (FDIC), Federal Reserve Board (FRB) and other regulatory bodies), perform accounting and regulatory reporting research in accordance with GAAP and regulatory reporting requirements and provide expert guidance. Subject matter expert on regulatory reporting requirements and GAAP, with continued broadening of understanding on more complex accounting and regulatory reporting requirements.
2. Collaborate and work across the Finance division to ensure integrity of regulatory reporting and ensure sound controls and procedures. Support reporting and analysis for additional constituencies, including Board of Directors, Investor Relations, and various regulatory agencies. Coordinate financial analysis and reporting process workflow within team. Provide leadership and mentoring for less experienced team members to improve their own technical expertise; review and approve work of other team members. Ensure that changes to reporting process workflow and/ or data source are documented and communicated to downstream reporting groups.
3. Apply knowledge of best practices derived from experience to identify and solve problems of higher technical or operational complexity by leading analysis of possible solutions using data analysis, experience, judgment and precedents. Take a new perspective on existing solutions to propose innovative solutions. Initiate and assist in implementing long-term solutions. Prepare and review materials to senior leadership summarizing issues and communicating solutions.
4. Provide thought leadership and guidance to junior teammates. Work with business unit partners to ensure alignment on regulatory interpretations.
5. Leverage working relationship with supported business areas and cross-functional departments to complete complex tasks and deliver high quality work. Initiate process improvements across broad organizational processes to address internal/external challenges.
6. Coordinate with governance functions and internal and external auditors. Review and update policies and procedures for compliance with governmental regulations and corporate polices and standards. Coordinate development of new accounting processes and procedures, as needed. Assist in risk management governance and business continuity planning processes as necessary.
Required Qualifications:
The requirements listed below are representative of the knowledge, skill and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
1. Bachelor’s degree in Accounting or Finance, or equivalent education and related training.
2. At least 5 years of relevant accounting or finance experience.
3. Familiarity with GAAP and regulatory reporting.
4. Strong work ethic and unyielding commitment to quality.
5. Strong verbal and written skills; ability to communicate effectively with subordinates, peers, and superiors within the Corporation, as well as appropriate individuals external to the Corporation.
6. Demonstrated proficiency in basic computer applications, such as Microsoft Office software products.
General Description of Available Benefits for Eligible Employees of Truist Financial Corporation: All regular teammates (not temporary or contingent workers) working 20 hours or more per week are eligible for benefits, though eligibility for specific benefits may be determined by the division of Truist offering the position. Truist offers medical, dental, vision, life insurance, disability, accidental death and dismemberment, tax-preferred savings accounts, and a 401k plan to teammates. Teammates also receive no less than 10 days of vacation (prorated based on date of hire and by full-time or part-time status) during their first year of employment, along with 10 sick days (also prorated), and paid holidays. For more details on Truist’s generous benefit plans, please visit our Benefits site. Depending on the position and division, this job may also be eligible for Truist’s defined benefit pension plan, restricted stock units, and/or a deferred compensation plan. As you advance through the hiring process, you will also learn more about the specific benefits available for any non-temporary position for which you apply, based on full-time or part-time status, position, and division of work.
