Role Description

The Director, Accounting is a full-time hybrid role located in North York, ON, with flexibility for some remote work. The Director will be responsible for overseeing and managing the day-to-day activities of the accounting department, including financial reporting and tax filing functions with a direct reporting line to the CFO.

Responsibilities & Accountabilities

Financial Reporting

• Manage the delivery of financials on a timely basis to management while ensuring data accuracy and completeness.
• Manage the delivery of timely and relevant financial performance analysis for Senior Management.
• Manage financial and managerial reporting to Parent Bank (Shinhan Bank Korea).
• Supervise financial reporting and analysis to regulatory institutions (Office of Superintendent Financial Institutions, OSFI), Bank of Canada, and Statistics Canada.
• Take a leading role to report and prepare the semi-annual payment to CDIC, Trust account disclosure by-law.
• Review the calculation and report the monthly Expected Credit Loss balance to Senior management.

Tax

• Review withholding taxes remittances and settlement with CRA.
• Review and take a leading role for corporate income tax: prepare the monthly installment, calculate the monthly income tax, calculate the year-end tax due including thin capitalization impacts, and work closely with external reviewer for final filing (T2).
• Review and take a leading role for Indirect tax: prepare the quarterly installment or remittance for provincial taxes, prepare the GST returns, and work closely with CRA for final return (GST111 and GTS494).
• Report the client tax slip returns to CRA and follow-up any errors with CRA.
• Review CRA account balance or Notice of Assessment for tax returns and communicate with CRA for any discrepancies.
• Report and reconcile the non-resident taxes account (NR4).

Reconciliation

• Supervise reconciliation work and support the follow-up for pending items.

Audit

• Take a leading role in the annual external Financial Audit process.
• Prepare the audited financial statements with all disclosures.
• Take a leading role in CRA audit for various tax matters.
• Review monthly self-audit related to Accounting Department prepared by Associate.

Other Accounting related work

• Amend and update accounting and fair value policies and accounting guidelines on a regular basis.
• Support CFO for the implementation of new accounting standards such as IFRS9, IFRS15 and IFRS16. Assess related financial reporting impacts and disclosure.
• Participate in ad-hoc projects to support CFO.
• Respond to other stakeholders’ request such as Corporate Tax, Information requested from Parent Bank or its auditors.
• Train and guide the team members.
• Take an advisory role to other departments or branches for any accounting or tax matters.

Education Requirements

• Bachelor’s degree in accounting or finance

Work Experience Requirements

• 10-15 years of experience in accounting.
• Experience with industry best practices and professional standards.
• Proven ability to implement strategies for effecting change, enterprise thinking and the ability to effectively gain buy in to large scale enterprise implementation of programs.
• Superior interpersonal and leadership skills, oral and written communication and ability to anticipate and guide the impact of legislative/regulatory changes on the Bank.
• Strong analytical, exceptional problem-solving skills, and the ability to manage multiple priorities and deadlines.