Financial Analyst - Capital Markets Finance

BMO•Toronto, ON

1d•CA$50,100 - CA$93,000•Onsite

About The Position

Under the direction of the Manager, the Analyst is responsible for the day to day accounting functions of the Merchant Banking legal entities. This role is also accountable for the production and analysis of weekly estimates, monthly, quarterly, and annual management reporting for Merchant Banking. The analyst will provide support to the I&CB LFO (Lead Financial Officer) teams in support of their respective LOBs. The Analyst will apply a degree of knowledge in resolving complex issues within the scope of his/her technical expertise. The Analyst is also required to identify continuous improvement opportunities and will escalate any potential risk issue to the Manager.

Requirements

Typically between 2 – 3 years of relevant experience and post-secondary degree in related field of study or an equivalent combination of education and experience.
Completed or near completion of an accounting designation.
Specialized knowledge from education and/or business experience.
Verbal & written communication skills - In-depth.
Collaboration & team skills - In-depth.
Analytical and problem solving skills - In-depth.
Influence skills - In-depth.
Take measured risks while protecting the bank by applying our Risk Management Framework in the execution of your role, in line with our Risk Culture and within our approved Risk Appetite, making sound and risk informed decisions that align to business strategy, protect assets, and adhere to applicable policy documents (Frameworks, Policies, Standards, Procedures and Supporting documents), laws and regulations.

Nice To Haves

Accounting designation (CPA) in process or near completion.

Responsibilities

Ensures the accurate and timely completion of the following:
Responsible for the timely preparation of journal entries in SAP S/4 HANA and Investran for Merchant Banking legal entities.
Responsible for processing capital call wire transfer requests, maintaining and updating control logs, monitoring the status of wire transfers, and ensuring the timely receipt of wire transfer confirmations.
Responsible for monitoring and updating control logs for cash distribution wire transfers across multiple funds.
Maintain and update capital call requirements and monitor unfunded commitment levels.
Prepare monthly Legally Binding commitments, and Valuation of Securities (VOS) reports.
Responsible for performing analyses required for the month-end close process and supporting the sign-off on Merchant Banking financial results.
Responsible for the timely preparation of investment reconciliations, ensuring discrepancies are identified, investigated, and resolved promptly.
Responsible for performing reconciliations for various general ledger accounts, proactively researching and communicating findings accordingly. Investigate and document discrepancies and/or issues in the control monitoring log for reviewer action.
Prepare timely and accurate financial and management reports for the Merchant Banking Finance and investigate any variances.
Responsible for continuous monitoring of vendors invoices to ensure they are processed in the correct cost center and expense category, and following up with Procurement as required until issues are resolved.
Responsible for the preparation of annual financial statements for Merchant Banking legal entities.
Analyzed and understand the key revenue and expense drivers, including variable compensation accruals, funding charges, and cross charges.
Responsible for submitting requests for GL and BOD changes and liaising with MDM and Insight Hierarchies teams to assess and implement the appropriate impacts of inter- and intra-relationship changes.
Ensure adherence to proper accounting procedures, adequate internal controls, documentation standards, and the completion of audit trails.
Prepare accurate and timely management reporting deliverables, including the production of weekly financial estimates and commentary for BMO Capital Markets Finance, LFO and LOB professionals.
Responsible for performing detailed monthly, quarterly, and annual financial analysis and preparing management reporting package for Merchant Banking.
Provide accurate and timely management reporting for LOB professionals to enable appropriate business decisions
Advise the Manager of potential risks and opportunities identified through the weekly financial estimates and monthly financial results.
Analyze and investigate month-end revenue and expense variances.
Contribute to business process improvement initiatives by recommending approaches to enhance financial processes, reporting design and delivery, including weekly and monthly reporting packages.
Provide support to ensure adequate financial controls and supporting documentation while satisfying the corporate governance requirements.
Advise the Manager, Capital Markets Finance, of potential risks and opportunities identified in financial results.
Assist LFO and LOB in interpreting accounting policies, risk guidelines, and regulatory governance, and ensure that new and existing initiatives comply with bank and regulatory standards.
Proactively interact with other support groups (CAG, WBPO, Legal, Tax, etc.) to achieve objectives related to operational efficiency and reporting innovation.
Determine how LFO and LOB prefer to review financial information to support strategic business decision-making.
Identify opportunities for cost savings (i.e. cost recovery within the bank, TSAs, etc.)
Establish and maintain reliable, credible, and ongoing communication with LFO/LOB and key stakeholder groups.
Ensure compliance with corporate standards, policies, Merchant Banking directives, and applicable U.S. and Canadian regulations.
Review and interpret partnership agreements to ensure compliance with contractual requirements.
Develop and document the process flows for the position’s key accountabilities to support departmental cross-training initiatives/projects.