Company: Liberty Mutual Canada

Location: Toronto, ON

Expected salary:

Job date: Fri, 08 Nov 2024 03:03:11 GMT

Job description: Job Description:Company Overview:Liberty Mutual Canada is the Canadian operation of Liberty Mutual Insurance Company. We offer a broad suite of commercial insurance products and solutions to mid-size and large Canadian companies with Canadian, North American and/or multinational risks. Liberty Mutual Canada has over 250 employees and services its clients coast-to-coast from our regional offices in Vancouver, Calgary, Edmonton, Toronto, Montreal and Halifax.At Liberty Mutual Canada, diversity is about all of us. Our promise to you is a culture that is collaborative, rewarding and empowering. We are committed to attracting and retaining employees across all dimensions of diversity and believe that recognizing, appreciating, and applying the unique insights, perspectives and backgrounds of each person cultivates an atmosphere of trust and respect. Diversity, Equity & Inclusion (DEI) is how we do business, and we’ll continue to invest in it to create a stronger global organization.If you are unsure whether or not your experience matches every requirement below, we encourage you to apply anyway. We are looking for varied and diverse perspectives and experiences that we can add to our team!Our core values guide all of our decision-making and come to life through our benefits and employee programs. We offer:– A premier flexible work environment (a combination of on-site & remote work) supporting our employees in their pursuit of a healthy work-life balance– Competitive health & dental benefits plan– Market-leading pension plan– Competitive time off policy– External education & tuition reimbursement programs– Employee & Family Assistance Programs– An opportunity to get involved and become a member of one of our national employee committees – social responsibility, employee engagement, diversity, equity & inclusionThe Opportunity:We are seeking an experienced Head of External Reporting to join Liberty Mutual Canada, encompassing 2 operations: Liberty Mutual Canada – a division of Liberty Mutual Insurance Company and Employers Insurance Company of Wausau. As the AVP, Head of External Reporting, you will oversee the accurate and timely reporting of financial information to internal and external stakeholders, ensuring tax and financial compliance with regulatory requirements and accounting standards. Reporting directly to the CFO, you will play a critical role in driving the company’s financial reporting strategy.Duties & Responsibilities:Financial Statements

• Responsible for all Canadian regulatory reporting – in accordance with IFRS and statutory accounting principles and any other relevant/replacement reporting requirements.
• Review, analyze, report upon financial results and ensure timely and accurate filing of the Canadian Branch external financial reporting (including OSFI filings); (P&C & Life).
• Establish and maintain accounting policies and procedures that align with regulatory requirements and best practices, ensuring consistency and accuracy in financial reporting across the organization.
• Ensure proper disclosure of financial information in external reports, highlighting significant financial events, risks, and uncertainties.

Financial Analysis

• Conduct in-depth analysis of regulatory financial statements to identify trends, anomalies, and potential areas of concern, providing valuable insights to the Branch Governance committee and other key stakeholders.
• Effectively communicate financial information and results to Branch Governance and relevant external stakeholders (i.e., OSFI).
• Collaborate with key stakeholders (i.e., UW, Reinsurance, Claims etc.) and Identify opportunities to improve Branch profitability. Assist the CFO in the review, analysis, presentations and ad-hoc requests of competitor analysis.

Tax Compliance and Management

• Ensure accurate and timely preparation and filing of all tax returns, including corporate income tax returns, premium tax returns, and other relevant tax filings, in compliance with local tax laws and regulations.
• Minimize corporate tax position through effective tax planning and management – inclusive of consideration to US GAAP requirements for parent company consolidation purposes.

Capital Management

• Oversee capital management for the branch, including monitoring of capital and optimizing use of capital. Lead treasury and cash management roles to maximize investment returns.
• Review capital adequacy analysis, and lead quarterly updates for Branch Management including forecasted capital and forecast accuracy.

External Audit

• Lead the Canadian Branches through the external audit of the statutory financial statements (and capital filings).
• Collaborate with external auditors to plan and execute annual financial audits, coordinating information requests, ensuring proper documentation, and addressing any audit findings or recommendations.

Regulatory Guidelines & Filings

• Assist the CFO in the review, implementation, and on-going compliance of regulatory guidelines & filings.
• Monitor and implement procedures to ensure compliance with all Canadian and US legislative requirements – including OSFI, FSCO/IBC, FCAC, OFAC, Sarbanes Oxley legislation etc.

Team Management

• Provide leadership, guidance, and mentorship to a team responsible for external reporting, ensuring their professional growth, performance, and adherence to deadlines.
• Proactively identifies, participates in, or manages cross functional/departmental projects. Defines project scope and prioritizes resource commitments. Monitors projects while challenging and developing staff. Communicates project opportunities of high complexity and constraints to Senior Management. Appropriately holds staff accountable for project deadlines.

Other Duties & Responsibilities

• Stay up-to-date with accounting standards, tax pronouncements, regulatory changes, and industry-specific reporting requirements to ensure ongoing compliance in financial reporting practices. Maintaining relationship with OSFI Branch supervisor.
• Act as CFO’s delegate with Liberty Mutual Investment group to monitor investment performance and regulatory compliance.
• Review, negotiate and maintain all banking facilities and facility/lease transactions.
• Identify opportunities to streamline and automate financial reporting processes, leveraging technology solutions to improve efficiency, accuracy, and timeliness of external reporting deliverables.

Skills & Qualifications:

• Designated CPA;
• Minimum 10 years of financial reporting and analytical experience, with at least 5 years of leadership experience;
• Proven experience in a senior financial reporting role within the insurance industry or related sector.
• Excellent analytical and problem-solving skills, with attention to detail and accuracy.
• Technically proficient in IFRS and US GAAP;
• High proficiency (advanced level) with MS Windows based applications (Excel being the key applications);
• Proven track record of effectively building constructive relationships with others at all levels of the organization; and
• Excellent communication skills, both verbal and written, with the ability to articulate complex financial information to non-financial stakeholders.

If you are a highly motivated individual with a track record of success in financial reporting within the insurance industry, we invite you to apply for this challenging and rewarding opportunity. Join our dynamic team and contribute to the company’s growth and success.Liberty Mutual Canada is committed to fostering an inclusive, accessible environment where all employees feel valued and supported. We are committed to building a workforce that is representative of the communities we operate in and serve. If you require an accommodation for the recruitment/interview process due to a disability (which may be invisible or visible, temporary or permanent), please let us know and we will work with you to meet your needs.