Head of Internal Reporting
TruistAbout the role
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Regular or Temporary:
RegularLanguage Fluency: English (Required)
Work Shift:
1st shift (United States of America)Please review the following job description:
The Head of Internal Reporting will be responsible for the month end close and internal reporting process including presentation of monthly financial results to the CFO of Truist. This individual will work closely with the broader finance organization and business partners to understand the numbers and variances and to help drive business decisions and strategy while ensuring compliance with regulatory guidelines and US GAAP- Oversee and coordinate the month-end close process for Truist across multiple systems, businesses and products.
- Ensure timely and accurate posting of all journal entries and accounting adjustments, including those related to complex transactions.
- Analyze and provide effective challenge over month-end financials for income statement, balance sheet and credit quality
- Lead the preparation and review of monthly and quarterly senior leadership presentations, providing critical insights to top management.
- Present monthly financial results to external auditors
- Answer business partner questions on impacts to GAAP reporting.
- Identify and drive process-improvement efforts by collecting and reviewing business partner and team feedback and incorporating industry best practices.
- Pioneer automation opportunities within repeatable processes and data
- Review and update policies and procedures for compliance with regulations and corporate polices and standards.
- Respond to internal and external audit inquiries.
- Proactively identify, research, consult, and draft technical memorandums on accounting issues.
- Lead ad hoc projects in partnership with the office of the CFO and business units.
- Continuously monitor the financial statement risk to provide input on initiatives to enhance control compliance with US GAAP and Sarbanes-Oxley Act (SOX)
- Interact with regulators, including the FDIC and the Fed in regard to inquiries and audits.
- Provide leadership, talent development, and mentoring for team members.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. Research appropriate accounting treatment and provide expert advice, on an as-needed basis, for complex transactions or financial matters for Truist Financial Corporation and its subsidiaries to ensure compliance with GAAP, regulatory reporting and affiliate transaction requirements. Such complex issues include, but are not limited to, the accounting for mergers, acquisitions and divestitures, credit losses, derivatives and hedge accounting, foreign exchange, transfers of financial assets, fair value, gross vs. net classification, revenue recognition, variable interest entities, leases, employee benefit plans, classification of expenses, specialized industry accounting and the determination of regulatory capital.
2. Manage the accounting for highly complex transactions and GAAP and regulatory reporting requirements for all assigned functions. Responsibilities include accurate financial reporting and adequate internal controls, preventing or detecting financial reporting fraud and ensuring that Truist complies with applicable Accounting Policies and Standards. Promulgate firm-wide compliance with the requirements of Regulation W, including the complex valuation of covered exposures in relation to the Bank's quantitative limitations.
3. Oversee and coordinate the financial statement close,
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