Financial Analyst

Volkswagen Canada; Ajax; On-site; CAD 70,000 - 90,000; Full time

Job summary

Volkswagen Canada seeks a Financial Analyst for their ABS programs, requiring strong analytical skills and accounting knowledge. The role involves supporting financing and investment activities, with an emphasis on compliance and documentation. Ideal candidates will have relevant experience, alongside proactive problem-solving abilities and a commitment to professional integrity.

Qualifications

• 1-3 years professional accounting and financial analysis experience.
• Desired experience in treasury, corporate finance, and/or banking.
• Understanding of automotive financing business beneficial.

Responsibilities

• Support ABS programs, debt financing, and investment accounting.
• Assist in the development and design of ABS programs.
• Maintain accounting and servicing support for ABS transactions.

Skills

Data Analytics

Problem Solving Skills

Takes Initiative

Demonstrates Commitment

Work Flexibility

Ability to Multi-task

Education

Progress toward CPA or CFA qualification

Job description

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 D ealers, 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:
The Financial Analyst – ABS role supports VCI’s asset-backed securitization (ABS) programs, debt financing, investment accounting and derivatives portfolios in a team-oriented environment with emphasis on analysis, documentation, and compliance.

Role Responsibilities:

a. Assist the structuring team in the development and design of ABS programs including;
- Review sections of the offering and legal documents.
- Provide data and analysis to assist in asset pool selection and reconciliation.
- Provide support for due diligence effort with external accountants.
- Support requests from treasury, tax, legal, risk management, investment bankers, and outside legal counsel.
- Setting up new deals in the ABS Suite systems and finalizing the pool
b. Maintain accounting and servicing support for ABS transactions under US/Canadian/International accounting standards and related regulations including;
- Asset selection and removal based on established criteria.
- Assist with maintenance of ABS systems and database records.
- Perform analysis to support pool performance monitoring for compliance with investor triggers and regulations.
- Prepare monthly servicing reports, journal entries, Asset level data files and supporting documentation.
- Prepare monthly and annual SEC filings for public ABS transactions.
- Support annual servicing audits performed by external accountants.
- Perform control procedures for ABS transactions under SEC Regulations including Reg AB testing.
- Prepare wire requests and reconciliations for daily collections related to public ABS transactions and the Like Kind Exchange program.
c. Support the company’s hedge accounting programs including;
- Provide analytics and accounting support in the development of hedging strategies.
- Provide data input and maintain model used by treasury in interest rate risk management.
- Prepare hedge accounting documentation, perform effectiveness testing and analysis.
- Prepare accounting entries and reporting under US/Canadian/International accounting standards.
- Develop understanding of company’s interest rate hedging strategies and other Treasury activities.
- Analyze various general ledger accounts / supporting schedules and reconcile including reconciliation with Global Treasury Production (GTP) systems as necessary.
d. Investment Accounting
- analysis of monthly investment activities and preparing GL entries
- Accounting and investment portfolio analysis to support Investment Committee and controlling
- Documentation and testing of transaction for internal controls
d. General
- Provide support for preparation of supporting schedules for the company’s financial statements and footnotes.
- Continuously develop knowledge base to keep current on existing and emerging issues in both accounting standards and banking to assist in meeting accounting and regulatory requirements including IFRS.
- Implement action plans to improve processes and controls to eliminate or mitigate risks related to the company’s financing and hedging programs.
- Forecasting of ABS debt run-offs, asset amortization, restricted cash balance for Fair Valuation and controlling purpose
- Undertake special assignments including the resolution of problems and assistance in the development of new processes and support systems.

Qualifications

- 1-3 years professional accounting and financial analysis experience.
Desired:
- Treasury, corporate finance and/or banking experience.
- Experience in and/or understanding of automotive financing business Skills

Skills -
Required:
- Takes Initiative
- Data Analytics
- Uses Computer/ Technical Systems
- Demonstrates Commitment
- Work Flexibility
- Ability to Multi-task
- Problem Solving Skills
- Displays Professional Integrity

Desired:
- Progress toward CPA or CFA, qualification.
- Conceptual Thinking Skills
- Project Management

Work Flexibility:
Some work flexibility; occasional travel, extra hours, potential need to work holidays.

Volkswagen Financial Services is committed to diversity and inclusion in the workplace. All qualified applicants will receive consideration for employment without regard to race, color, 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.