Financial Reporting Director directs and oversees the preparation and distribution of all periodic financial statements for external use. Ensures that reports, filings and documentation complies with company's regulations, professional standards, and SEC and GAAP reporting guidelines. Being a Financial Reporting Director confirms that entries, transactions, and accounts are accurately and properly consolidated and are included in internal and external financial statements. Advises management of trends and changes in reporting requirements and recommends best approach for any changes in reporting. Additionally, Financial Reporting Director may serve as a liaison with or oversee the work of external auditors. May direct the preparation of materials for board or shareholders. Requires a bachelor's degree of Accounting or Finance. Typically reports to top management. The Financial Reporting Director manages a departmental sub-function within a broader departmental function. Creates functional strategies and specific objectives for the sub-function and develops budgets/policies/procedures to support the functional infrastructure. Deep knowledge of the managed sub-function and solid knowledge of the overall departmental function. To be a Financial Reporting Director typically requires 5+ years of managerial experience. (Copyright 2024 Salary.com)
Description
Westamerica is among the largest commercial banks headquartered in California. We are looking for outstanding people to join our winning team. We reached our current strength because our employees, customers, and shareholders believe in the same fundamental goals: Delivering a wide variety of financial services with a superior customer service guarantee.
JOB SUMMARY: (2-3 sentences describing purpose of job — begin with level of supervision provided to the incumbent)
Manages the preparation of the Company's internal and external financial reports. Manages the preparation and coordination of the Company's Financial Plan, including continuous review of all processes and making recommendations for improvement. Manages the generation of management reporting to business line managers.
ESSENTIAL FUNCTIONS: Fundamental Duties Spent Performing Function
1. Manage the budgeting process for entire company in a timely manner, including delivery of budget to actual comparison reports to division managers. Trains users on budgeting system and processes.
2. Manages the close and consolidation of the Company's general ledger each month-end.
3. Manages quarterly review and annual audit process with external auditors. Gathers, reviews, and delivers Company records requested by external auditors in the conduct of their reviews and audits. Reviews the 10-Q and 10-K regulatory filings for completeness and accuracy prior to filing with SEC, including review of compliance with accounting principles and disclosure requirements.
4. Performs more complex accounting functions. Provides guidance to Controller's staff members and other department managers regarding accounting for non-routine or complex transactions.
5. Manages the Company's tax function (federal and California), including: calculation of monthly tax provision, maintaining support for all current and deferred tax accounts in the general ledger, and calculation of quarterly estimated payments.
6. Interprets newly issued accounting standards. Determines cost-effective manner to implement accounting standards. Manages the implementation process.
Marginal Functions:
7. Supervise, evaluate and train staff members in their respective job duties and provide support for their continuing development.
MINIMUM KNOWLEDGE, PRIOR WORK EXPERIENCE, AND SKILLS NEEDED TO PERFORM JOB FUNCTIONS:
Progressively more responsible work experience in financial analysis, to include supervisory experience, preferably within a financial institution. Bachelor's degree in finance or related field required; CPA license required. Incumbent must possess in-depth working knowledge of Microsoft Excel, Access and Word. Excellent analytical, computer, communication, interpersonal, organizational, planning and presentation skills required.
PHYSICAL DEMANDS:
• Sits and utilizes computer for extended periods of time.
MENTAL DEMANDS:
• Interpret accounting standards and apply to various transactions and processes.
• Interpret policy and apply to various exception situation
• Resolve staff conflicts related to managed area.
• Address, prioritize and accomplish multi tasks and issues within extremely tight deadlines.
• Apply advanced math skills in creating, maintaining, enhancing, and correcting current software programs.
EQUIPMENT USED TO PERFORM FUNCTIONS:
PC, telephone, 10-key, photocopier.
DECISION MAKING: (Give examples of decisions and recommendation made by incumbent)
• Recommends changes to current accounting policies to maintain compliance with accounting standards or improve accounting processes.
• Recommends changes to current budgetary and policies which improve process and facilitate the achievement of identified corporate financial goals.
• Determines most cost-effective implementation method for accounting processes.
SUPERVISORY RESPONSIBILITY: (List number of subordinates)
Directly Supervised: TBD
Supervised by Subordinates: 0
FINANCIAL IMPACT:
Financial statement released to the public are relied on by investors to make investment decisions regarding the Company's stock.
CONTACTS:
Internal: All levels of bank personnel.
External: Auditors and occasionally vendors.
EOE
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