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Senior Accountant
PrivateBancorp
Chicago, IL, United States
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Overview
CIBC provides tailored commercial, wealth management, personal, and small business financial solutions in the United States through 46 offices in 18 states, as well as cross-border banking services to clients with North American operations. Learn more at cibc.com/US.
CIBC is a Toronto-based, global financial institution with a 150 year history, serving 11 million personal and business clients. We invest in our businesses, our clients, our people and our communities to deliver consistent and sustainable earnings to our shareholders.
CIBC delivers access to career and development opportunities, safe and healthy workplaces, effective training, and positive work-life balance – so that employees are able to perform at their best, contribute to their communities and focus on cultivating deeper relationships with our clients.
Every year, CIBC is recognized for its business success, community commitment and employee initiatives. We are proud of this success and are committed to creating an inclusive workplace and an environment where all employees can excel.
CIBC Bank USA is an Equal Opportunity Employer M/F/Disability/Veteran
Responsibilities
This position’s primarily responsibility is to ensure the integrity of accounting information and legal entity books and records by preparing, recording, billing, and verifying transactions related to intercompany cost allocations and share based compensation. This position is an integral part of the financial month end close and cost accounting processes.
1. Partner with members of Finance in the creation and enhancement of current cost allocation methodologies and ensure that the related documentation meets the requirements of regulators and tax authorities.
2. Based on the cost allocation methodology, as well as internal policies and procedures, on a monthly basis, ensure that appropriate invoicing and payment of inter-company services occurs and are properly accounted for.
3. Review inbound cost allocations from affiliate entities to determine appropriateness of the charge in accordance with internal policies and procedures.
4. On an annual basis, interview relevant internal stakeholders across the organization to identify potential methodology updates.
5. On a daily basis, monitor transactions with affiliates that fall under the scope of Section 23A of Regulation W to ensure proper collateral is posted and required limits are not exceeded. Related transactions and balances will be regularly communicated with applicable members of Finance and Compliance.
6. Assist in the preparation of materials to the Regulation W Committee.
7. Prepare share-based compensation journal entries by compiling various reports and analyzing account and transactional information. Also involved in the billing and settlement with affiliates of liability-settled share-based compensation transactions.
8. Partners with Human Resources and Accounting Policy, as required, to ensure that equity based compensation is comprehensive and GAAP compliant.
9. Prepares various share-based compensation schedules to support disclosures in annual financial statements.
10. Updates professional knowledge by participating in educational opportunities, reading professional publications, maintaining personal networks, and participating in professional organizations.
11. Has significant exposure to senior members of Finance.
Qualifications
1. Bachelors degree in Accounting.
2. CPA desirable.
3. 5 + years’ experience in accounting operations, with experience in multi-national organizations a plus. Experience with cost accounting and/or inter-company allocations, as well as equity compensation are beneficial.
4. Solid written and oral communication skills.
5. Detail oriented, well organized, and demonstrating the ability to work independently in a deadline driven environment.
6. Broad financial, strategic and accounting knowledge. In depth subject matter and industry knowledge is beneficial.
7. Strong leadership and analytical skills with the ability to multitask across several different projects at any given time.
8. Must possess the ability to build and maintain relationships with stakeholders across the organization.
9. Advanced PC skills with Microsoft Office (Excel, Word, & PowerPoint) and general understanding of software operations and automated accounting systems.