Take a step in the right direction.
At Butterfield, we provide full-service community banking and specialised international financial services. Operating in multiple jurisdictions, we focus on results, value relationships, and celebrate success. If this sounds like your kind of company, then consider this opportunity to become part of a collaborative team of professionals at a world-leading, independent offshore bank and trust company.
SVP, Group Head of Financial & Regulatory Reporting
The position reports to the Group Chief Financial Officer and is responsible for Group consolidation and financial reporting, quarterly and annual reports to Shareholders, managing all regulatory and statistical returns, conducting capital and scenario modelling, and other financial reporting. The incumbent acts as a Basel and SEC regulatory reporting expert and advises senior management on the impact of proposed transactions and changes to regulations.
Your responsibilities will include:
- Act as the Group’s Chief/Principal Accounting Officer for SEC reporting purposes.
- Management and oversight of financial reporting and controls, including compliance with the Sarbanes-Oxley Act of 2002.
- Management and oversight of quarterly, annual and ad-hoc SEC filings.
- Prepare and present quarterly reporting to the Audit Committee regarding the quarterly or annual financial results, the impact of significant judgments, forthcoming accounting changes and any other relevant topics.
- Manage the Group general ledger and consolidation systems (SAP) and working with IT to ensure access rights are appropriate, system capabilities are optimised and upgrades are performed.
- Provide guidance to, and work with, various departments of the Group to ensure that relevant and reliable information is being provided to Group Finance in accordance with established Group accounting policies and procedures.
- Manage the relationship with external auditors with respect to the review and audit of the consolidated financial statements.
- Manage the production of the monthly and quarterly regulatory process to ensure compliance with the prudential and statistical rules as prescribed by the Bermuda Monetary Authority, Basel Committee on Banking Supervision and Local Government.
- Manage the production of Capital information under Pillars 1, 2 and 3.
- Correspond with regulatory authorities on all matters pertaining to financial statement and regulatory return filings and resolve queries.
- Monitor proposed changes in regulation, assess their significance and report findings to senior management.
- Advise senior management on the impact of proposed transactions, new products, or changes in SEC, GAAP or BMA regulation and manage implementation of changes where required.
- Ensure the financial reporting and regulatory procedures are up to date and strong controls are in place over the production of regulatory and statistical information.
- Prepare, review and present complex financial data in meetings with Ratings Agencies and Regulatory bodies.
- Manage a team of staff members across financial, regulatory, investment and CECL reporting
- Attend and present at monthly/quarterly BALCO, GRC and Provisions Committee meetings and other forums as considered necessary.
- Undertaking special projects and other duties as assigned.
Your qualifications and skills include:
- University degree with an internationally recognized professional accounting qualification with at least ten years post qualification experience.
- Minimum of ten years’ progressive experience in the financial services industry, preferably banking.
- Experience in bank financial and regulatory prudential reporting, including detailed knowledge of SEC and Basel rules for banks.
- Experience with SAP accounting system and Workiva.
- Advanced Microsoft Office skills, particularly Excel and PowerPoint.
- Exceptional analytical, problem solving and report writing skills with a strong understanding of banking products.
- Superior communication skills with the ability to clearly communicate and present complex data.
- Ability to form, motivate and work with teams in a multi-cultural, multi-jurisdictional environment.
- Ability to interpret SEC and Basel regulations and other emerging regulatory regimes to understand and communicate implications to the Group and banking operations.
- Ability to take large amounts of accounting information, analyze results, and implement changes where necessary.
Why Butterfield?
With more than 1,300 financial services professionals across ten international jurisdictions, the Butterfield experience is enhanced by robust learning and development opportunities, comprehensive benefits, and preferred rates on a variety of proprietary financial services. Guided by our core values—approachable, collaborative, empowered and impactful—we provide a respectful environment where the diversity of our employees and the talents and experiences they bring are celebrated and valued. With a 160-year tradition of service excellence we empower individuals to achieve their goals and make a positive impact on our business, our clients and our communities.
Does this sound like you?
All applications should be submitted via
e-mail to [email protected].
Closing date:
22 August 2023
Let’s start a conversation.