Accounting Policy Director

Truist Bank•Charlotte, NC

About The Position

Senior-level officer and leading technical accounting subject matter expert responsible for effectively communicating and ensuring the enterprise’s proper understanding and appropriate implementation of accounting policies and practices in accordance with the extremely complex and dynamic accounting principles generally accepted in the United States (GAAP) and subject to effective internal controls in connection with the SOX and FDICIA programs. Provide expert advice on a broad range of complex accounting and financial reporting issues to Executive officers, the Finance organization and other senior leaders. ESSENTIAL DUTIES AND RESPONSIBILITIES Following is a summary of the essential functions for this job. Other duties may be performed, both major and minor, which are not mentioned below. Specific activities may change from time to time. Provide expert accounting advice and oversight 1. Serve as an effective business partner and expert advisor in collaborating across the organization in achieving financial reporting that (i) complies with GAAP, (ii) is transparent, (iii) is representationally faithful to the business objective and economics of the underlying transaction or activity and (iv) is produced in a well-controlled, practical and operationally sustainable manner. 2. Research appropriate accounting treatment and provide expert advice for complex transactions or financial matters for Truist Financial Corporation and its subsidiaries to ensure compliance with GAAP, regulatory reporting and affiliate transaction requirements. Such complex issues include but are not limited to acquisitions, divestitures, credit losses, hedge accounting, transfers and variable interests. 3. Support the controlled accounting and reporting for highly complex transactions. Responsibilities include accurate financial reporting and adequate internal controls, preventing or detecting financial reporting fraud and ensuring that Truist complies with applicable accounting policies and standards. Monitor activities of standard setters and regulators 4. Closely monitor the standard setting process of the Financial Accounting Standards Board ("FASB,") and United States Securities and Exchange Commission ("SEC"), as well as the Federal Deposit Insurance Corporation ("FDIC") and the Federal Reserve Board ("FRB") as applicable to bank accounting and reporting, to ensure that all relevant proposed changes to GAAP and other reporting requirements are understood and the impacts communicated to senior and executive leaders timely. 5. Oversee the implementation of new accounting or external reporting requirements, which includes development of accounting and regulatory reporting policies and standards, design of operational processes necessary to ensure full compliance with any new requirements, and the development of the related internal control framework related to these new processes. Prepare and maintain accounting policies and procedures 6. Prepare and/or revise, or oversee the preparation and/or revision, of accounting policies and procedures to effectively manage the risk of GAAP non-compliance by reflecting new accounting pronouncements or guidance, improving clarity or responding to changing circumstances. Effectively communicate with leadership, auditors and regulators 7. Proactively provide counsel to Executive officers, senior leaders and financial management on complex accounting and external reporting issues. Develop conceptual frameworks to assist senior leaders in understanding the accounting and reporting requirements. Provide accounting guidance in response to inquiries from auditors, regulators and others regarding specific transactions, issues and other matters. Provide accounting policy implementation support and oversight 8. Ensure the design and implementation of adequate processes and controls to comply with relevant GAAP such as to prevent deficiencies in internal control over financial reporting. Support the Risk Management Organization through the effective identification, measurement, communication and mitigation of GAAP risk in adherence with requirements. Support and oversee external financial reporting 9. Oversee the preparation and review of relevant sections of the SEC Forms 10-K and 10-Q for compliance with GAAP, including disclosure checklists. Review drafts of the quarterly press release, Forms 10-K and 10-Q, and other regulatory reporting and provide feedback as necessary to ensure that all such reporting appropriately reflects Truist's financial position and results of operations in compliance with GAAP and regulatory requirements. Respond to relevant comments in annual SEC comment letters, as applicable. Collaborate with and support the Managing Director of Accounting Policy 10. Collaborate with the Managing Director of Accounting Policy in establishing the Accounting Policy group’s processes, procedures and strategies. Support the Managing Director of Accounting Policy in reviewing the work of, and supporting and providing feedback to, the Directors of Technical Accounting and other Accounting Policy teammates. Participate in industry groups 11. Represent Truist in various banking organizations via active participation in periodic meetings and committees. Use industry contacts to assess accounting standard and regulatory reporting implementation efforts. Participate in peer-bank accounting policy forums and industry professional organizations to discuss and influence significant accounting policy issues for the banking industry. Comment on proposed new accounting standards and regulatory reporting rulemaking, as applicable.

Requirements

Bachelor's degree in Accounting, Finance or equivalent education and related training
Certified Public Accountant (CPA) designation; strong technical accounting knowledge
Fifteen years of relevant accounting or accounting policy experience; twelve years of leadership and supervisory experience
Intelligent, strong and decisive leadership within an organization because of high integrity, intellectual clarity, and a passion for excellence; strong leadership abilities including proactive thinking and teamwork to drive the best business decisions
Strong personal and professional ethics with impeccable integrity
High energy level and strong work ethic to meet the demands of a fast paced, goal driven environment; results orientation, which includes meeting commitments, performance metrics, and targeted and required delivery dates
Self-motivated with the ability to work without supervision; ability to work under difficult time constraints and manage multiple resources, priorities and projects
Strong team orientation: eagerness to pitch in and help larger teams meet goals and responsibilities
Excellent technical and research skills; excellent communication and presentation skills; excellent critical and conceptual thinking, problem solving ability and analytical skills; excellent interpersonal skills across internal and external organizational levels
Demonstrated proficiency in computer applications, such as Microsoft Office software products, with an emphasis on spreadsheet, word processing and database software

Nice To Haves

Master's or advanced degree in Business or Accountancy
Prior experience working for a large, SEC-registered financial institution or senior manager-level public accountant with extensive bank experience

Responsibilities

Serve as an effective business partner and expert advisor in collaborating across the organization in achieving financial reporting that (i) complies with GAAP, (ii) is transparent, (iii) is representationally faithful to the business objective and economics of the underlying transaction or activity and (iv) is produced in a well-controlled, practical and operationally sustainable manner.
Research appropriate accounting treatment and provide expert advice for complex transactions or financial matters for Truist Financial Corporation and its subsidiaries to ensure compliance with GAAP, regulatory reporting and affiliate transaction requirements. Such complex issues include but are not limited to acquisitions, divestitures, credit losses, hedge accounting, transfers and variable interests.
Support the controlled accounting and reporting for highly complex transactions. Responsibilities include accurate financial reporting and adequate internal controls, preventing or detecting financial reporting fraud and ensuring that Truist complies with applicable accounting policies and standards.
Closely monitor the standard setting process of the Financial Accounting Standards Board ("FASB,") and United States Securities and Exchange Commission ("SEC"), as well as the Federal Deposit Insurance Corporation ("FDIC") and the Federal Reserve Board ("FRB") as applicable to bank accounting and reporting, to ensure that all relevant proposed changes to GAAP and other reporting requirements are understood and the impacts communicated to senior and executive leaders timely.
Oversee the implementation of new accounting or external reporting requirements, which includes development of accounting and regulatory reporting policies and standards, design of operational processes necessary to ensure full compliance with any new requirements, and the development of the related internal control framework related to these new processes.
Prepare and/or revise, or oversee the preparation and/or revision, of accounting policies and procedures to effectively manage the risk of GAAP non-compliance by reflecting new accounting pronouncements or guidance, improving clarity or responding to changing circumstances.
Proactively provide counsel to Executive officers, senior leaders and financial management on complex accounting and external reporting issues. Develop conceptual frameworks to assist senior leaders in understanding the accounting and reporting requirements. Provide accounting guidance in response to inquiries from auditors, regulators and others regarding specific transactions, issues and other matters.
Ensure the design and implementation of adequate processes and controls to comply with relevant GAAP such as to prevent deficiencies in internal control over financial reporting. Support the Risk Management Organization through the effective identification, measurement, communication and mitigation of GAAP risk in adherence with requirements.
Oversee the preparation and review of relevant sections of the SEC Forms 10-K and 10-Q for compliance with GAAP, including disclosure checklists. Review drafts of the quarterly press release, Forms 10-K and 10-Q, and other regulatory reporting and provide feedback as necessary to ensure that all such reporting appropriately reflects Truist's financial position and results of operations in compliance with GAAP and regulatory requirements. Respond to relevant comments in annual SEC comment letters, as applicable.
Collaborate with the Managing Director of Accounting Policy in establishing the Accounting Policy group’s processes, procedures and strategies. Support the Managing Director of Accounting Policy in reviewing the work of, and supporting and providing feedback to, the Directors of Technical Accounting and other Accounting Policy teammates.
Represent Truist in various banking organizations via active participation in periodic meetings and committees. Use industry contacts to assess accounting standard and regulatory reporting implementation efforts. Participate in peer-bank accounting policy forums and industry professional organizations to discuss and influence significant accounting policy issues for the banking industry. Comment on proposed new accounting standards and regulatory reporting rulemaking, as applicable.

Benefits

All regular teammates (not temporary or contingent workers) working 20 hours or more per week are eligible for benefits, though eligibility for specific benefits may be determined by the division of Truist offering the position.
Truist offers medical, dental, vision, life insurance, disability, accidental death and dismemberment, tax-preferred savings accounts, and a 401k plan to teammates.
Teammates also receive no less than 10 days of vacation (prorated based on date of hire and by full-time or part-time status) during their first year of employment, along with 10 sick days (also prorated), and paid holidays.
Depending on the position and division, this job may also be eligible for Truist’s defined benefit pension plan, restricted stock units, and/or a deferred compensation plan.

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