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Financial Accounting - Vice President

Sumitomo Mitsui Banking Corporation (SMBC)
remote work
United States, New Jersey, Jersey City
May 07, 2024

SMBC Group is a top-tier global financial group. Headquartered in Tokyo and with a 400-year history, SMBC Group offers a diverse range of financial services, including banking, leasing, securities, credit cards, and consumer finance. The Group has more than 130 offices and 80,000 employees worldwide in nearly 40 countries. Sumitomo Mitsui Financial Group, Inc. (SMFG) is the holding company of SMBC Group, which is one of the three largest banking groups in Japan. SMFG's shares trade on the Tokyo, Nagoya, and New York (NYSE: SMFG) stock exchanges.

In the Americas, SMBC Group has a presence in the US, Canada, Mexico, Brazil, Chile, Colombia, and Peru. Backed by the capital strength of SMBC Group and the value of its relationships in Asia, the Group offers a range of commercial and investment banking services to its corporate, institutional, and municipal clients. It connects a diverse client base to local markets and the organization's extensive global network. The Group's operating companies in the Americas include Sumitomo Mitsui Banking Corp. (SMBC), SMBC Nikko Securities America, Inc., SMBC Capital Markets, Inc., SMBC Rail Services LLC, Manufacturers Bank, JRI America, Inc., SMBC Leasing and Finance, Inc., Banco Sumitomo Mitsui Brasileiro S.A., and Sumitomo Mitsui Finance and Leasing Co., Ltd.

The anticipated salary range for this role is between $120,000.00and $159,000.00. The specific salary offered to an applicant will be based on their individual qualifications, experiences, and an analysis of the current compensation paid in their geography and the market for similar roles at the time of hire. The role may also be eligible for an annual discretionary incentive award. In addition to cash compensation, SMBC offers a competitive portfolio of benefits to its employees.

Role Description

This position is responsible for supporting the management reporting function of the SPDAD-FAD Controllers Group by assisting with lease accounting, fixed asset accounting and other general ledger reconciliation and month end closing functions. Also, this position is responsible for assisting with head office reporting and interacting and coordinating with internal departments with the Bank and subsidiaries as needed. This position will have 3-4 direct reports to ensure that all reports and general ledger activities are carried out correctly and timely.

Role Responsibilities

Reporting to the Management Reporting Manger this position is responsible for managing staff in preparation of management reports. Roles at this level have developed an understanding of core operational processes. Day-to-day actions are focused on administering defined procedures, analyses, and report preparation in accordance with prescribed IFRS and U.S. GAAP. The position will require the incumbent to understand and perform duties timely and accurately. The incumbent will review lease contracts, amortization schedules and necessary balance sheet adjustments as per new lease accounting guidance ASC 842 prepared by staff members. The position is responsible for reviewing fixed asset reconciliation and necessary general ledger adjustments, month end closing entries, head office reports and expense variance reports. Other ad-hoc projects as needed. This position will supervise 3-4 direct reports to carry out tasks related to head office reporting, lease accounting, expense accounting, fixed asset accounting, and other general ledger accounting tasks.

Qualifications and Skills
  • Bachelor Degree in Accounting. Master Degree and CPA desired, but not necessary.
  • 7 to 10 years of relevant accounting experience.
  • Detail oriented and able to multi-task. Strong analytical skills.
  • Good knowledge of financial reporting and general accounting practices (US GAAP, J-GAAP, IFRS).
  • Working knowledge of lease accounting, fixed asset accounting and accrual accounting necessary.
  • Experience with general ledger functions and month-end/year end closing processes.
  • Knowledge of Oracle Application and/or other accounting application.
  • Proficient Excel skills (Vlookup, Pivot Tables, etc).
  • Experience with Alteryx (or other data tools)
  • Financial service industry experience a plus.
  • Experience managing staff a plus.
Additional Requirements

D&I Commitment

Responsible for fostering a culture of diversity and inclusion, holding leaders accountable for creating an inclusive environment through awareness and practice of equity in recruiting, developing, and promoting diverse talent.

SMBC's employees participate in a hybrid workforce model that provides employees with an opportunity to work from home, as well as, from an SMBC office. SMBC requires that employees live within a reasonable commuting distance of their office location. Prospective candidates will learn more about their specific hybrid work schedule during their interview process.

We are an equal employment opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, gender, national origin, disability status, protected veteran status or any other characteristic protected by law. SMBC provides reasonable accommodations for employees and applicants with disabilities consistent with applicable law. If you need a reasonable accommodation during the application process, please let us know at accommodations@smbcgroup.com.