Manager of Financial Reporting and Consolidation

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Regular or Temporary:

Regular

Language Fluency:  English (Required)

Work Shift:

1st Shift (United States of America)

Please review the following job description:

Ensure proper understanding and implementation of accounting policies and practices in accordance with the extremely complex and dynamic accounting principles generally accepted in the United States (GAAP) to ensure all relevant GAAP is understood, effectively communicated to Truist Insurance Holdings (TIH) Management, appropriately implemented and subject to effective internal controls in connection with the SOX program. Provide expert advice on a broad range of complex accounting and financial reporting issues to TIH Management, the BU CFO organization and other members of the Senior Leadership Team.

KEY 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. 

• Research appropriate accounting treatment and provide expert advice, on an as-needed basis, for complex transactions or financial matters for TIH 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 and specialized industry accounting.
• 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 TIH complies with applicable Accounting Policies and Standards. 
• Analyze preliminary financial results in connection with the close process in order to identify significant or unusual activity that may require adjustment or disclosure in connection with TIH's internal or external financial reporting. Oversee preparation of monthly and quarterly financial statement close schedules and other reporting required to effectively communicate TIH’s financial position and results of operations.
• Closely monitor the standard setting process of the Financial Accounting Standards Board (“FASB,”), United States Securities and Exchange Commission ("SEC,") the Federal Deposit Insurance Corporation ("FDIC,") the Federal Reserve Board ("FRB") and other regulatory agencies as applicable to ensure that all relevant proposed changes to GAAP and other reporting requirements are understood
• Analyze, evaluate and provide accounting guidance in response to inquiries from auditors, regulators and others regarding specific transactions, issues and other matters.
• Ensure the design and implementation of adequate processes and controls to comply with relevant GAAP and to prevent significant deficiencies and material weaknesses in internal control over financial reporting.  Support ERM and the Risk Management Organization through the effective identification, measurement, and mitigation of GAAP risk. Communicate GAAP risks in a timely manner. Adhere to risk policies, procedures, and regulatory requirements.  Support business and corporate risk management objectives. Develop appropriate policies and procedural documentation to effectively manage the risk of GAAP non-compliance.  Ensure the continual effectiveness of any systems implemented and utilized in the management of GAAP risk.
• Coordinate the preparation and review of relevant sections of the annual and quarterly report disclosures.  Review drafts of the quarterly press release, annual and quarterly reports, and other regulatory reporting and provide feedback as necessary to ensure that all such reporting appropriately reflects TIH's financial position and results of operations in compliance with GAAP and regulatory requirements. Prepare the financial statement disclosure checklist on a quarterly basis.