Job Information
CIBC Sr. Accounting Analyst, Incentive Compensation and Pension in Toronto, Ontario
We’re building a relationship-oriented bank for the modern world. We need talented, passionate professionals who are dedicated to doing what’s right for our clients.
At CIBC, we embrace your strengths and your ambitions, so you are empowered at work. Our team members have what they need to make a meaningful impact and are truly valued for who they are and what they contribute.
To learn more about CIBC, please visit CIBC.com (https://www.cibc.com/en/about-cibc.html)
What You’ll Be Doing
The People Cost Accounting department within General Accounting is the Financial Controllership area that provides global oversight for various incentive compensation and pension programs. Reporting into the Director of People Cost, you’ll be working in the Incentive compensation and Pension areas.
The Incentive compensation area is responsible for completion of various business and financial analysis for the Incentive Compensation accounting functions relating to the financial accounting and reporting and related internal controls for the various CIBC incentive compensation programs. The role also includes monitoring and compliance of control activities to ensure the integrity of financial information on a timely and accurate basis for both IFRS and US GAAP.
The Pension area is responsible for the accounting and reporting of CIBC’s global pension plans, long-term disability plans, and post-retirement and post-employment benefits. The accounting team also has operational responsibility for the CIBC Pension Fund and other funded trusts, which involves maintaining the books of record and liaising with the custodian, human resources, pension investment management, investment managers, actuaries, internal and external auditors, and senior management.
At CIBC we enable the work environment most optimal for you to thrive in your role. You’ll have the flexibility to manage your work activities within a hybrid work arrangement where you’ll spend 1-3 days per week on-site, while other days will be remote.
How You’ll Succeed
Incentive Compensation Accounting – Analyze financial impact of multiple deferred equity plans on CIBC or business unit performance. Be involved with the team in strategic, financial and operational planning for CIBC or large operating units within CIBC with respect to incentive compensation or deferred equity accounting. Complete operational activities related to deferred equity awards including IFRS and US GAAP expense recognition in accordance with plan terms and relevant accounting standards, Hedge accounting for related cash flow hedges, etc. Work with the team on large and complex reporting throughout the year such as the annual December 1 vesting, the annual Incentive Compensation reconciliation and applying hedge accounting for designated awards.
Pension Accounting – Prepare monthly Pension plan financial statements from CIBC Mellon system, semi-monthly cash flow projections, and the annual audited Pension Plan financial statements including note disclosures for the plans and benefit funded trusts. Ensure that expenses are validated and paid timely, account and investment manager reconciliations, regulatory filings, tax remittances, and supporting schedules for audited financial statements. Also included is working with Accenture in their preparation of the CIBC Bank journal entries, pension note disclosure and controls reporting to ensure the CIBC Bank financial statement reporting is accurate and timely. Prepare working papers for external and internal auditors and handle their follow up questions . Perform analytical reviews and reconciliations .
Teamwork and Relationship building – Liaise with HR, accounting policy, custodian, pension investment management team/investment managers and payroll service provider to resolve and questions or discrepancies. Consult with internal and external stakeholders on financial matters from time to time and respond to financial queries from the Consolidation team, management, other financial areas i.e. Taxation, legal, finance contacts, HR, auditors. Work with our Accenture team to ensure monthly journal entries are booked correctly as part of the month end close cycle.
Who You Are
You can demonstrate experience in IFRS US GAAP, and Pension accounting. Advanced knowledge of accounting principles, excel or Alteryx applications and knowledge of CIBC GLDM applications is required, along with the ability to present complex financial information in an easy to understand format. You should be able to work with complex accounting reporting systems, policies and procedures used within CIBC/SBU/Unit, and to identify, extract, and apply the information to the user’s advantage. You should be able to exhibit superior communication capabilities with senior personnel and the ability to adapt quickly to changing situations. It’s an asset if you have knowledge of SAP accounting systems
You understand that success is in the details. You notice things that others don't. Your critical thinking skills help to inform your decision making.
You act like an owner. You thrive when you're empowered to take the lead, go above and beyond, and deliver results.
You give meaning to data. You enjoy investigating complex problems, and making sense of information. You're confident in your ability to communicate detailed information in an impactful way.
You're digitally savvy. You seek out innovative solutions and embrace evolving technologies. You can easily adapt to new tools and trends.
Values matter to you. You bring your real self to work and you live our values – trust, teamwork and accountability.
What CIBC Offers
At CIBC, your goals are a priority. We start with your strengths and ambitions as an employee and strive to create opportunities to tap into your potential. We aspire to give you a career, rather than just a paycheck.
We work to recognize you in meaningful, personalized ways including a competitive salary, incentive pay, banking benefits, a benefits program, defined benefit pension plan, an employee share purchase plan, a vacation offering, wellbeing support, and MomentMakers, our social, points-based recognition program.
Our spaces and technological toolkit will make it simple to bring together great minds to create innovative solutions that make a difference for our clients.
We cultivate a culture where you can express your ambition through initiatives like Purpose Day; a paid day off dedicated for you to use to invest in your growth and development.
*Subject to plan and program terms and conditions
What you need to know
CIBC is committed to creating an inclusive environment where all team members and clients feel like they belong. We seek applicants with a wide range of abilities and we provide an accessible candidate experience. If you need accommodation, please contact Mailbox.careers-carrieres@cibc.com
You need to be legally eligible to work at the location(s) specified above and, where applicable, must have a valid work or study permit.
We may ask you to complete an attribute-based assessment and other skills tests (such as simulation, coding, French proficiency, MS Office). Our goal for the application process is to get to know more about you, all that you have to offer, and give you the opportunity to learn more about us.
Job Location
Toronto-81 Bay, 26th Floor
Employment Type
Regular
Weekly Hours
37.5
Skills
Accounting Policies, Accounting Processes, Analytical Thinking, Communication, Consulting, Financial Analysis and Reporting, Management Reporting, Process Improvements, Reconciliations
At CIBC, we are in business to help our clients, employees and shareholders achieve what is important to them. Our ability to create value for all CIBC stakeholders is driven by a business culture based on common values: Trust, Teamwork and Accountability.
Working with CIBC makes you a part of a work environment committed to our clients, employees and communities - a place where you can excel.
Every day, our 44,000 employees help our clients achieve their financial goals, because what matters to our clients, matters to us.