Accounting Manager in Pickering

Volkswagen Financial Services, a wholly-owned subsidiary of Volkswagen Group, is 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.

Protection products are sold in both the US and Canada under various subsidiary structures that ultimately roll up to VW Credit, Inc. (VCI). In the US, VWFS Protection Services, Inc. is responsible for the development, underwriting, and marketing of branded vehicle protection products. VWFS Protection Services, Inc. acts as the Obligor Company for those products it underwrites and interacts with VWFS Insurance Service, Inc. In Canada, VW Credit Canada, Inc. services a similar purpose and is the 100% owner of Beetle BC Holding, Inc.

This position leads the accounting for Vehicle Service Contracts and other vehicle protection products in the US and Canada, ensuring that corporate accounting standards and required regulations are properly executed. Manage the accounting implementation and documentation of launching new products from the initial idea to launch. This includes working with the Business to understand the goals and process flows, confirming all IFRS standards are followed, involving other members of the Corporate Accounting and third-party accounting vendor teams as needed, developing and testing sample JVs and accounting processes, and managing the initial accounting process after launch.

The position supports enhancement of internal controls and key control documentation according to International Financial Reporting Standards (IFRS), VW Group Accounting Handbook, and Statutory Position level: 10. Reports to: Senior Manager Corporate Accounting.

Possible Tasks within this Role:

• Ensure timely and accurate reporting of financial information in compliance with all required accounting standards and regulatory requirements.
• Manage IFRS 17 process and understand the requirements of the IFRS 17 standard.
• Identify and gather data requirements for Data Staging Area (DSA) and Cash Flow Inputs (CFI) tables for the design of the inbound files to Finevare.
• Work closely with third-party actuarial and newly created in-house actuarial on data requirements, processing, and validating IFRS 17 results.
• Coordinate with multiple stakeholders including VCI IT, third-party consultants, actuarial, product team, technical accounting manager, and accounting/controlling team.
• Complete month-end closing processes including preparing, reconciling, reviewing, and/or approving various monthly journal entries and schedules.
• Analyze and document material variances from prior periods and budgets.
• Review and submit monthly Group Financial (FACTS) files.
• Lead internal and external audits regarding control testing, account verifications, and other related projects.
• Prepare year-end IFRS financial statements and lead schedules for external auditors.
• Develop and train employees, review investment, cash management, and intercompany accounting processes, and drive process improvements and automation.

Qualifications:

• 10 years of experience in financial accounting analysis and reporting, insurance accounting.
• Bachelor's degree in accounting or finance.
• Direct work experience in accounting for the sale of extended service contracts and/or P&C insurance products.
• In-depth understanding of IFRS17 standard requirements.
• Strong oral and written communication skills.
• Working knowledge of internal controls and business processes.

The salary range for this role is $101,000 - $140,000. Actual pay may vary based on experience, education, and internal compensation practices.

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.