Sr. Financial Analyst, Product Control

CIBC • Toronto, ON

2d • Hybrid

About The Position

The key purpose of the position is to work as a team with the Supervisor of the Foreign Exchange desk within CIBC World Markets Finance–Canada. The Foreign Exchange Accounting desk currently generates over $1 million FX revenue on a monthly basis. In daily operation, the desk handles over 2500 transactions on cash and trade conversions. It is operated as one of the critical business units. An in depth knowledge of foreign exchange markets and position accounting is required in order to manage the daily FX processes within CIBC World Markets Inc and CIBC. This desk acts independently as an operational activity within the Finance area. As such, you will be required to be a self-starter and able to coordinate foreign exchange trades with a minimum level of supervision. You must interact efficiently and effectively with Traders, Wood Gundy Investment Advisors, Business Management, Operations and Senior Management within the firm. The individual must be detail oriented as any errors can cause financial loss for the bank. On a daily basis you will need to research issues, make decisions and provide advice to Senior Management on matters concerning FX reporting. You may also partake/lead special projects that arise periodically. This is a two person desk and you will be required to fulfill the role of supervisor in the event of absences.

Requirements

• Degree/diploma in Accounting, Business, Finance or a related field.
• Excellent knowledge of costing, planning, management reporting and analytical procedures and techniques.
• Understanding of end to end foreign exchange process beginning with the client order, proper booking of trades in the GL and appropriate buys/sells with the FX trader in order to maximize both client satisfaction and profitability for CIBC World Markets Inc.
• Legally eligible to work at the location(s) specified.
• Accounting Journal Entries
• Investigating

Nice To Haves

• Fulfill the role of supervisor in the event of absences.

Responsibilities

• Complete the FX account reconciliations.
• Coordinate with foreign exchange traders to ensure coverage of open positions.
• Manage the foreign exchange position account for CIBC World Markets Inc.
• Ensure all items are clearing in a timely basis.
• Coordinate FX “Rate Changes” with the trading floor and Wood Gundy Investment Advisors.
• Ensure the accuracy and integrity of the information recorded and used, and that proper accounting procedures are adhered to.
• Identify contributing factors/problems/opportunities that cause real variances and trends, and propose solutions for immediate corrective action.
• Undertake standard and non-standard analyses and provide interpretation and summary of results.
• Provide additional Ad Hoc Support and assistance in the planning and coordination of the BCP for the desk.
• Play a key role with cross-functional teams to assist in the development, implementation, and maintenance of automation project pipelines, ensuring efficiency and reliability in delivery.
• Leverage expertise to provide training sessions, guidance, and ongoing support to internal team members.

Benefits

• incentive pay
• banking benefits
• a benefits program
• defined benefit pension plan
• employee share purchase plan
• a vacation offering
• wellbeing support
• MomentMakers, our social, points-based recognition program
• Purpose Day; a paid day off dedicated for you to use to invest in your growth and development

What This Job Offers

• Job Type: Full-time
• Career Level: Senior
• Education Level: Associate degree