Securitization Administration Manager

The work!

• Focusing on the accounting, reporting, and financial analysis of the Bank’s securitization activities.

• Develop a strong understanding of securitization profit calculations and accounting.

• Follow established accounting practices to ensure that the financial and operating reports accurately reflect the condition of the securitization business in accordance with accounting standards.

• Assist with the routine accounting processes for the securitization activities of both Equitable Bank and Equitable Trust; ensuring timely and accurate accounting and reporting of financial results

• Oversee the accounting for creation, issuance, and settlement of new NHA MBS pools

• Oversee daily cash tracking and balancing of servicer partners, including bank reconciliations

• Ensure timely and accurate accounting and reporting on Covered Bonds activities.

• Support the monitoring of securitization regulations to identify new or changing requirements, evaluate the applicability of the requirements to the Bank, and then assisting with the modification or establishment of new data sources/systems/processes to accommodate and comply with the requirements

• Provide support to the Accounting group, assisting them with their mandate in establishing appropriate accounting for the Bank’s securitization activities; including NHA MBS and Covered Bonds.

• Key contributor to the financial statement close process through the preparation of monthly accounting schedules

• Assist in the preparation of month-over-month variance analysis in financial results and program profitability

• Assist with the preparation of financial statements notes and other disclosure requirements on a quarterly basis

• Respond to accounting inquiries, providing ad hoc analysis for use in management decisions

• Support compliance interactions with government agencies and external auditors, including reviews, audits and other communications

• Identify opportunities for process improvement and assist in the implementation of recommended changes, including training of team members.

• Support new securitization initiatives by working closely with Capital Markets and other relevant stakeholders

• Ensure effective and efficient staff performance by providing ongoing support and guidance, as well as coordinating, scheduling, and reviewing the contribution of direct reports

• Liaise with other departments and external stakeholders. Internal interactions may include but are not limited to Accounting group, Capital Markets, Treasury, Prime Single Family and Commercial Lending, Compliance and Internal Audit, IT, BA and Project Management, and Financial Planning and Analysis

• External interactions may include but are not limited to Strategic partners and service providers, CMHC, Computershare, and external auditors

Knowledge/Skill Requirements:

• Post-secondary education and professional designation in Accounting (CPA)

• A minimum of 5 years of experience in accounting or financial reporting at a financial institution, with at least 2 years in a leadership role

• Knowledge of/experience with CMHC sponsored NHA MBS and CMB securitization programs would be an asset

• Strong technical aptitude, with a proven understanding of cash flow modeling

• Possesses strong leadership skills with an ability to work independently, influence and engage across the organization

• Experience with execution of complex financial reporting requirements, preferably securitization related

• Experience in the mortgage industry and securitization preferred

• Experience with data management and reporting systems

• Experience in process development and controls management

Specific Attributes

• Possesses strong analytical abilities and very detailed oriented

• Outstanding interpersonal skills…