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  • 132 Grand Street
    Waterbury, CT 06702

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SVP Accounting Policy

Webster Bank • Waterbury, CT

Posted 22 days ago

Job Snapshot

Degree - 4 Year Degree
Other Great Industries


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Job Description

132 Grand Street-NH513
If you're looking for a meaningful career, you'll find it here at Webster. Founded in 1935 by Harold Webster Smith, our focus has always been to put people first--doing whatever we can to help individuals, families and businesses achieve their financial goals. And while we've grown into a leading commercial bank, we remain passionate about serving our customers, supporting our communities, and making a difference in people's lives. We can make a difference in your life, too. By empowering you to build the meaningful career you've been looking for. Responsibility, respect, trust, teamwork and citizenship are the values on which Webster was founded. Together we call them The Webster Way, and they are what set us apart as a bank and an employer. Guided by these values, we put people first - working hard to live up to our customers, and each other, every day.

The SVP of Accounting Policy is responsible for the firm's accounting policies and practices. The person will be responsible for the research, interpretation and application of current and pending accounting policy to determine proper treatment with US GAAP. This person will monitor and proactively play a leadership role, internally and externally, in new potential accounting guidance and its implication on the firm and broader industry. He/she is responsible for maintaining oversight of the adoption and compliance with any new accounting policies. This person will play a critical role in reviewing SEC and other regulatory filings to ensure accurate and policy compliant filings.

He/she will also be an important business partner with deal teams and senior executives on new business transactions and other opportunities to ensure appropriate consideration of technical accounting ramifications and impact on the firm's financial statements.

Moreover, this person will work with key stakeholders to ensure accounting process risks have been identified, assessed and documented in accordance with SOX requirements. This includes assisting with risk control analyses, process flows and matrices necessary to support management's internal control actions, particularly in connection with key accounting estimates.

The position will lead and manage the technical team, and will report to the organization's Chief Accounting Officer.Responsibilities:
  1. Responsible the firm's accounting policies and practices including developing consistent and reliable policies and procedures to prevent accounting risks from developing. Present new accounting policies and changes to the organization's critical accounting policies to executive management and the Board as necessary.

  1. Manage the processes and internal controls associated with the identification, research, documentation, communication and implementation of proposed and new accounting standards (both technical and operational accounting considerations). Lead implementation efforts for new accounting standards.

  1. Serve as the organization's loan accounting expert; review allowance for loan and lease loss methodologies, key assumptions and judgements for compliance with US GAAP, review and certify loan modifications to determine Troubled Debt Restructuring classification, Review loan syndication agreements to determine appropriate income recognition, lead FX adjustments, review adequacy of mortgage banking activities including repurchase reserve adequacy, servicing rights measurement and fair value measurements.

  1. Provide technical position papers, research and memos for the organization in connection with all significant non-routine transactions as well as any new products and services while managing the technical team.

  1. SOX compliance support related to significant accounting estimates (e.g., goodwill impairment reviews, OTTI evaluation, Deferred tax positions, etc.) which shall include providing US GAAP leadership to control owners for internal control documentation, implementing/editing of new and existing controls as needed. Work with auditors and related parties on all SOX activities particularly for significant accounting estimates to ensure SOX 404 compliance

  1. Monitor current accounting and regulatory developments and providing updates to senior management on the impact that new developments may have on the organization.

  1. Consult with business units and external auditors on technical accounting matters and the application and development of accounting policies. Ensure all new products and services are US GAAP complaint.

  1. Lead the preparation of certain financial reporting disclosures (MD&A and Footnotes) for completed transactions and work closely with the financial reporting team to support the filing of quarterly and annual SEC and bank regulatory reports to ensure appropriate disclosures are made in accordance with US GAAP and regulatory disclosure rules and requirements.

  1. Provide training to management and staff on accounting policies. Manage and develop accounting policy and research staff

  1. Assist in representing the organization externally on matters affiliated with accounting policies by taking active part in industry-wide relationships and associated organizational meetings


*Bachelor's Degree in Accounting and CPA required

* Public accounting foundation -- 3-5 years of \'Big 4\' or National accounting firm experience, preferably with a financial services or banking focus.

*Financial Services industry experience - 10-plus years of proven accounting experience in a supervisory capacity in a financial services company.

*Ability to effectively communicate with all levels of management.

Job ID: 18-1079
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