Financial Reporting - Vice President

Job Level: Director

Job Function: Business Operations

Location:

Jersey City, NJ, US, 07311

Employment Type: Full Time

Requisition ID: 5640

SMBC Group is a top-tier global financial group. Headquartered in Tokyo and with a 400-year history, SMBC Group offers a diverse range of financial services, including banking, leasing, securities, credit cards, and consumer finance. The Group has more than 130 offices and 80,000 employees worldwide in nearly 40 countries. Sumitomo Mitsui Financial Group, Inc. (SMFG) is the holding company of SMBC Group, which is one of the three largest banking groups in Japan. SMFG’s shares trade on the Tokyo, Nagoya, and New York (NYSE: SMFG) stock exchanges.

In the Americas, SMBC Group has a presence in the US, Canada, Mexico, Brazil, Chile, Colombia, and Peru. Backed by the capital strength of SMBC Group and the value of its relationships in Asia, the Group offers a range of commercial and investment banking services to its corporate, institutional, and municipal clients. It connects a diverse client base to local markets and the organization’s extensive global network. The Group’s operating companies in the Americas include Sumitomo Mitsui Banking Corp. (SMBC), SMBC Nikko Securities America, Inc., SMBC Capital Markets, Inc., SMBC MANUBANK, JRI America, Inc., SMBC Leasing and Finance, Inc., Banco Sumitomo Mitsui Brasileiro S.A., and Sumitomo Mitsui Finance and Leasing Co., Ltd.

The anticipated salary range for this role is between $92,000.00 and $170,000.00. The specific salary offered to an applicant will be based on their individual qualifications, experiences, and an analysis of the current compensation paid in their geography and the market for similar roles at the time of hire. The role may also be eligible for an annual discretionary incentive award. In addition to cash compensation, SMBC offers a competitive portfolio of benefits to its employees.

Role Description

SMBC is seeking a Financial Reporting Vice President. This position will support Americas Division’s Financial Accounting Control which is responsible for preparing the consolidated financial statements of SMBC Americas Holdings, Inc. and its subsidiaries (BHC), including but not limited to day-to-day accounting operations, monthly book closing, financial reporting controls, balance sheet substantiation, general ledger and chart of accounts governance and etc.

Role Objectives: Delivery

Review account reconciliations and journal adjustments throughout the month-end and quarter-end closings; ensure the financial data are accurate for the reporting period
Support intercompany and consolidation review process and provide suggestions for process improvements; investigate breaks with the subsidiaries’ accounting teams and ensure elimination activities are well supported and documented
Contribute to analytical review of significant variances for the monthly and quarterly BHC Balance Sheet and Income Statement
Draft and coordinate preparation of the annual BHC consolidated financial statement footnotes; responsible for internal or external auditors’ requests
Manage and support various projects related to general ledger and financial controls framework enhancement across the Controllers group, including implementation of new ERP system
Assist in annual budgeting and forecasting processes by collaborating with the legal entity controllers; provide analytics and rolling forecasts to support quarterly reporting
Lead the monthly monitoring process on CUSO financial reporting key risks indicators (KRIs)
Support balance sheet substantiation process in BHC; identify GL account ownership, perform risk ranking, incorporate materiality considerations, document reconciliation break thresholds, obtain certification and attestation, and etc.
Coordinate monthly meetings with the subsidiaries and communicate accounting and reporting issues; review legal entity financials and monthly results presentation to ensure significant variances on Balance Sheet and Income Statement are accurately explained
Maintain general ledger and chart of accounts: new account opening and mapping changes
Assist in special projects and perform other duties as assigned

Qualifications and Skills

8+ years of relevant experience in corporate accounting or financial reporting
Prior experience with Oracle Cloud and/or Oracle EBS, including SmartView and/or Essbase will be an added advantage
Bachelor’s degree in Accounting, MBA or CPA highly preferred
5+ years of relevant experience in financial services sector, financial institutions or public accounting experience is preferrable
Proficiency with Microsoft Office applications – Excel including Pivot Tables and V-Look Ups, Word, Access and PowerPoint, Alteryx, SmartView is a plus
Solid knowledge of US GAAP
Proven capabilities in time management, critical thinking and problem-solving
Ability to work effectively and independently with shifting priorities
Excellent verbal and written communication skills and the ability to manage relationship across various legal entities and work with various stakeholders
Detail oriented and well organized
Strong data analytic skills
Capable of multi-tasking

Additional Requirements

SMBC’s employees participate in a Hybrid workforce model that provides employees with an opportunity to work from home, as well as, from an SMBC office. SMBC requires that employees live within a reasonable commuting distance of their office location. Prospective candidates will learn more about their specific hybrid work schedule during their interview process. Hybrid work may not be permitted for certain roles, including, for example, certain FINRA-registered roles for which in-office attendance for the entire workweek is required.

SMBC provides reasonable accommodations during candidacy for applicants with disabilities consistent with applicable federal, state, and local law. If you need a reasonable accommodation during the application process, please let us know at accommodations@smbcgroup.com.