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Business Unit Controller - Commercial Banking
at Webster Bank
132 Grand Street-NH513
If you're looking for a meaningful career, you'll find it here at Webster. Founded in 1935 by Harold Webster Smith, our focus has always been to put people first--doing whatever we can to help individuals, families and businesses achieve their financial goals. And while we've grown into a leading commercial bank, we remain passionate about serving our customers, supporting our communities, and making a difference in people's lives. We can make a difference in your life, too. By empowering you to build the meaningful career you've been looking for.
Responsibility, respect, trust, teamwork and citizenship are the values on which Webster was founded. Together we call them The Webster Way, and they are what set us apart as a bank and an employer. Guided by these values, we put people first - working hard to live up to our customers, and each other, every day.
The Business Unit Controller -- Commercial Banking leads the monthly, quarterly, and annual financial close process including monthly financial reporting in accordance with GAAP for Webster Financial Corporation's Commercial Bank. This position will be responsible for implementing policies and procedures to identify, resolve and document accounting issues in addition to creating procedures to make the close and reporting processes more efficient and accurate. The position is also responsible for providing technical accounting support on complex business transactions and financial statement disclosures in accordance with US GAAP and SEC reporting requirements.
This Business Unit Controller will report to the organization's Corporate Controller and is responsible for managing the accounting, reporting, and analysis necessary to support decision making for the organization's Commercial Banking unit. The ideal candidate should have a passion for finding solutions to complex problems, be a self-starting, highly detailed professional who practices discretion in all corporate matters, and doesn't mind working with numerous matters at once. The Business Unit Controller respects deadlines, and doesn't mind wearing a few hats at a time, especially during peak times.
- Oversees timely month-end closing of the general ledger for the Commercial Banking unit. This includes the preparation of journal entries, reconciliation of accounts, and the timely and accurate preparation and/or review of all significant financial information/reports, including variance analysis with commentary.
- Foster a strong internal control focused environment. Ensure SOX controls are properly designed and operationally effective and are adhered to by all relevant personnel; keep abreast of financial and audit standards and regulations.
- Manage the accounting for various commercial lending activities including loan syndication accounting, FAS 91 (ASC 310) cost studies, and other accounting and reporting lending activities (e.g., TDR identification, accrual and return-to-accrual evaluations, etc.).
- Perform contract reviews to determine accounting and financial reporting impacts
- Serve as a partner to the business line - analyze business operations, trends, costs, revenues, financial commitments, and obligations.
- Survey operations to ascertain accounting needs, and recommend, develop, or maintain solutions to business and financial accounting matters.
- Drive continuous improvement and standardization in accounting.
- Research and provide day-to-day technical support to members of Finance, Accounting, and business unit constituents on the treatment of accounting issues in compliance with U.S. GAAP and SEC requirements.
- Facilitate and ensure successful audits and reviews (External and Regulatory audits, Internal audits, SOX, etc.).
- Collaborate with financial reporting teams to review Commercial Banking activities for applicable SEC filings (10-Ks, 8-Ks, etc.).
- Perform other accounting related activities including recording operating expense accruals, prepaid expenses, managing software capitalization accounting, equipment finance and lease accounting activities including lease classification and residual value impairment reviews, etc.
- Network with other industry participants and regulators through conferences and forums to anticipate and communicate upcoming changes in accounting standards and financial reporting.
- Participate in special projects as required.
- Bachelor's degree in accounting required, CPA preferred.
- Minimum of 7 years of accounting experience with a strong understanding of U.S. GAAP
- Demonstrated ability to work independently, coordinate the efforts of others and work well with people at a wide range of levels
- Strong analytical skills, written and verbal communication skills.
- Attention to detail and sense of ownership
- Excellent oral and written communication skills