Accounting Specialist - Insurance - NAR (contract)

Volkswagen Group of America; Canada; On-site; CAD 60,000 - 100,000; Full time

Job summary

An established industry player is seeking a dedicated Accounting Specialist to enhance its financial reporting processes. This role involves preparing and analyzing financial statements in accordance with IFRS standards, ensuring compliance with internal controls, and collaborating with various departments. The ideal candidate will possess strong analytical skills, attention to detail, and the ability to work independently. Join a diverse team that values inclusion and offers opportunities for professional growth while contributing to the financial success of the organization.

Qualifications

• 5-7 years of experience in financial analysis and financial services.
• Strong analytical skills and ability to work independently.

Responsibilities

• Prepare monthly financial statements and related disclosures.
• Analyze financial performance and major variances for HQ.

Skills

Financial analysis

Analytical thinking

Problem-solving skills

Communication skills

Organizational skills

Attention to detail

Team collaboration

Education

Bachelor’s Degree in Accounting or Finance

Master’s Degree in Accounting or Finance

Tools

MS Excel

MS Word

Oracle Financials

Deloitte Finevare

Job description

Job Description - Accounting Specialist - Insurance - NAR (contract) (VCI003534)

Primary Location

Canada-VCCI Home Office

12 months contract

Volkswagen Financial Services, a wholly-owned subsidiary of Volkswagen Group, is the trusted key to mobility for its brand partners. We are committed to supporting the Audi, Ducati, and Volkswagen brands and their Dealers, specializing in providing accessible mobility solutions for its Customers. The company’s offerings include Retail Leasing, Retail Financing, Commercial Financing for new and used vehicles, and End-of-Term vehicle disposition.

Role Summary:

We are seeking a dedicated and detail-oriented Accounting Specialist to join our growing team. This position ensures proper execution of corporate accounting related functions (transactions, entries, reporting and maintenance) for VW Credit and its subsidiaries, all in accordance with International Financial Reporting Standards (IFRS) and the VW Group Accounting Handbook. This supports year-end financial processes and adheres to internal and external audit requirements.

The Accounting Specialist needs to perform complex and in-depth analysis and research, acting with significant latitude for un-reviewed action, including enhancement of internal controls and key control documentation. The position will also assist the Accounting Sr. Manager in analyzing financial information, conducting trend analysis, summarizing financial status, and other ad hoc tasks. The work environment provides the opportunity for independent initiative and judgment to improve accounting processes, procedures, and financial reporting, with frequent interaction with German HQ and other areas of the business such as Controlling, Risk, Tax, Structure Financed, Service Center Accounting, Treasury, VW and Audi Brands.

Role Responsibilities:

We will expect you to prepare:

• Monthly financial statements for VCI and subsidiaries according to IFRS and be responsible for related month-end activities.
• Monthly consolidated financial statements and related disclosures for submission to HQ according to IFRS.
• Monthly financial reporting related to impairment for the Risk Department.
• Monthly reconciliations, researching and resolving outstanding issues with other departments.
• Year-end statutory financial statements, footnotes, and disclosures.

We will expect you to analyze:

• Monthly performance and major variances and provide to HQ for related questions.
• Apply new accounting standards as applicable.
• The financial statements, reporting on variances and resolving outstanding issues with other departments.
• Major deviations from budget/forecast in collaboration with the Controlling Department.

We will expect you to assist and support:

• In the development and maintenance of financial control procedures for financial reporting under IFRS guidelines.
• Internal and external audits with regard to control testing, account verifications, external confirmations, and other related projects.
• The manager and other team members with various ad hoc projects.

Other responsibilities include:

• Recommending, developing, and maintaining the general ledger chart of accounts and cost centers ensuring proper disclosure of transactions.
• Suggesting changes in processes and procedures.

Required Experience:

5-7 years of professional experience in:

• Financial analysis.
• Financial services or consumer finance.

Education:

Required –

• Bachelor’s Degree in Accounting or Finance.

Desired –

• Master’s Degree in Accounting or Finance.

General Skills:

• Analytical and conceptual thinking using logic and reason, being creative and strategic.
• Self-starter with solid organizational skills.
• Ability to work independently and effectively manage multiple priorities.
• Strong problem-solving skills and attention to detail.
• Demonstrates a “can-do” positive attitude with willingness to learn and apply.
• Ability to work cooperatively with others in a team environment.
• Demonstrates assertiveness, influencing, and negotiation skills.
• Communication skills – interpersonal, presentation, and written.
• Highly proficient in MS Excel and Word, with advanced knowledge of Excel, including databases, PIVOT tables, filtering data, and use of mathematical, logical, and statistical functions.

Specialized Skills:

Required –

• Knowledge of captive insurance accounting and applicable regulations.
• Preferred – proven expertise specific to accounting for Vehicle Service Contracts and other vehicle protection products (GAP insurance, Lease Excess Wear charge waivers, Tire and Wheel Protection, etc.).
• Understanding of IFRS and financial reporting principles.
• Understanding of Financial Reporting Standards (IFRS) in a multi-entity environment (OEM/Obligor/Captive Insurance structures).
• Microsoft Office advanced level; Excel, Access.
• Strong oral and written communications, with the ability to communicate on important, complex, and non-routine issues.
• Working knowledge of internal controls, business processes, and experience in developing accounting policies.

Desired –

• Understanding of accounting for financial services products (Finance Lease, Operating Lease, Retail financing) under IFRS.
• In-depth understanding of IFRS 17.
• Experience with Deloitte Finevare.
• Experience with Oracle Financials/GL Wand.

Work Flexibility:

• Minimal, 5% travel may be required.
• During month/quarter/year-end closing and when preparing the annual financial statements, long hours may be necessary.

Volkswagen Financial Services is committed to diversity and inclusion in the workplace. All qualified applicants will receive consideration for employment without regard to race, colour, religion, sex, sexual orientation, family status, gender identity, gender expression, national origin, age, disability, or any other characteristic protected by federal or local laws. Volkswagen Financial Services is committed to accommodating applicants and employees with disabilities. Should you require an accommodation during the recruitment and selection process, please advise in advance.