Accounting Policy Associate Director
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:
Technical accounting subject matter expert responsible for effectively communicating and ensuring the enterprise’s proper understanding and appropriate implementation of accounting policies and practices in accordance with the extremely complex and dynamic accounting principles generally accepted in the United States (GAAP) and subject to effective internal controls in connection with the SOX and FDICIA programs. Provide expert advice on a broad range of complex accounting and financial reporting issues to the Finance organization and other senior leaders.
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.
Provide informed accounting advice and oversight
1. Serve as an effective business partner and informed advisor in collaborating across the organization in achieving financial reporting that (i) complies with GAAP, (ii) is transparent, (iii) is representationally faithful to the business objective and economics of the underlying transaction or activity and (iv) is produced in a well-controlled, practical and operationally sustainable manner.
2. Research appropriate accounting treatment and provide well-informed advice 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 acquisitions, divestitures, credit losses, hedge accounting, transfers and variable interests.
3. Support the accounting and reporting for highly complex transactions. 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.
Monitor activities of standard setters and regulators
4. Closely monitor the standard setting process of the Financial Accounting Standards Board ("FASB,") and United States Securities and Exchange Commission ("SEC,"), as well as the Federal Deposit Insurance Corporation ("FDIC") and the Federal Reserve Board ("FRB") as applicable to bank accounting and reporting, to ensure that all relevant proposed changes to GAAP and other reporting requirements are understood and the impacts communicated to senior leaders timely.
5. Oversee the implementation of new accounting or external reporting requirements, which includes development of accounting, regulatory reporting and affiliate transaction policies and standards, design of operational processes necessary to ensure full compliance with any new requirements, and the development of the related internal control framework related to these new processes.
Prepare and maintain accounting policies and procedures
6. Prepare and/or revise accounting policies and procedures to effectively manage the risk of GAAP non-compliance by reflecting new accounting pronouncements or guidance, improving clarity or responding to changing circumstances.
Effectively communicate with leadership, auditors and regulators
7. Proactively provide counsel to senior leaders and financial management on complex accounting and external reporting issues. Provide accounting guidance in response to inquiries from auditors, regulators and others regarding specific transactions, issues and other matters.<
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