Finance Intern (Chief Account's Department - Financial Reporting Controls)

Role Type:
Internship/Co-op

Work Term:
Fall/Term 1

Work Location:
Toronto, Ontario, Canada

Hours:
37.5

Pay Details:
$46,000 - $67,596 CAD

TD is committed to providing fair and equitable compensation opportunities to all colleagues. Growth opportunities and skill development are defining features of the colleague experience at TD. Our compensation policies and practices have been designed to allow colleagues to progress through the salary range over time as they progress in their role. The base pay actually offered may vary based upon the candidate's skills and experience, job-related knowledge, geographic location, and other specific business and organizational needs.

As a candidate, you are encouraged to ask compensation related questions and have an open dialogue with your recruiter who can provide you more specific details for this role.

Job Description:

DEPARTMENT / TEAM

Chief Account's Department - Financial Reporting Controls (FRC)

LOCATION

Toronto, Ontario - TDT 18th floor

BUSINESS/ DEPARTMENT OVERVIEW

The Chief Accountant's Department is responsible for TD Bank Group's (TDBG) consolidated financial statements and selected regulatory filing for the Canadian subsidiaries. The Chief Accountant's team ensures that all these filings are accurate, timely and compliant with the accounting and regulatory requirements set by different governing bodies.

The Financial Reporting Controls Team (FRC) within Chief Accountant's supports the Chief Accountant & Controller in fulfilling their controllership mandate and is responsible for setting policies governing financial reporting and providing oversight on their compliance to these policies. These policies' objective is to control financial reporting risks across the organization to promote accuracy of financial reporting. The FRC team is also responsible for providing guidance and oversight on financial reporting-related controls at the Consolidated Bank level and significant subsidiaries level.

Key responsibilities of the FRC team are:

• Strengthen the Bank's internal control environment for financial reporting controls.
• Accountable for formulating policies and the change management requirements over financial reporting controls (TDBG General Ledger Account Reconciliation and Attestation Policy, CDA Internal Bank Account Policy and Subsidiary Banking Policy & Common Chart of Accounts Governance Policy)
• Provide advice and support to stakeholders.
• Analysis and advice on complex implementations and issues - the FRC team works with Finance, business partners and Internal Audit on complex issues that require investigation.
• Develop and provide ongoing training across the bank.
• Monitor compliance to policies and determine if all significant issues related to governance and controls are satisfactorily resolved.
• Oversight of Quality Control (QC) activities performed by other testing teams (1B Function) on FRC policies.

ROLES & RESPONSIBILITIES OF INTERN

INTERN RESPOSIBILITIES:

Projects/ Initiatives (Indicate the percentage of time dedicated for this - e.g., 80% AND the frequency i.e. monthly)

• Development, maintenance, and interpretation of Bank-wide financial reporting controls policies (25%)
  • Providing support in the interpretation and/or practical application of the Policies through delivery of formal training to line of business and 1B partners, and fulfillment of ad hoc requests through emails and meetings
  • Partner with business segments on projects and/or initiatives (e.g. Finance and Risk Platform - FRP) that require internal controls or policy expertise.
  • Update and enhance policy as required and complete change management.

• Manage and Enhance Data Analytics Dashboard (20%)
  • Act as the primary point of contact for stakeholders over source file, escalation protocol, quality control (QC).
  • Analyze complex financial datasets regarding reconciliation and attestation data to identify trends, risks, opportunities that inform strategic decision-making to all TD segments.
  • Ensure data accuracy, timeliness, Sideloading, Script Running, Data Table updates and Dashboard Refreshes.
  • In depth CCoA Analysis including commentary generation on movement of CCoA population, attestation population (comparative analysis to completeness check during quarter-end) and metrics (rec names, non-attested items, incremental strings etc.) for Canadian and US dollars.
  • Design and enhance insight produced by the dashboard to better support the monthly and quarterly reconciliation process which governs the integrity of TD's financial reporting.

Processes/BAU (Indicate the percentage of time dedicated for this - e.g., 20% AND the frequency i.e. monthly)

• General Ledger (GL) and Common Chart of Accounts (CCoA) Monthly/Quarterly Reporting and Analysis (25%)
  • Ensure completeness and accuracy of reported exceptions around reconciling differences, and other areas of non-compliance with Policies, to support the Chief Accountant & Controller in fulfilling their controllership mandate
  • Challenge line of business partners to provide compensating controls, resolution activities, and timelines to obtain sufficient coverage over areas reported, and a measurable path forward to mitigate financial reporting risks, and ensure accuracy and completeness of financial statements
  • Assess areas of non-compliance and work with lines of businesses to develop practical solutions or recommendations for exemptions to Policy requirements in limited cases

• GL Reconciliation Reporting and Related QC Testing (20%)
  • Perform independent review of QC testing results from various 1B partners for alignment to policy requirements and development of remediation plans to address the gaps noted. Escalate trends noted and provide feedback to enhance testing program within TD.
  • Oversee, monitor and enhance internal controls performed within the FRC Team

Disclaimer: 90% of the role's responsibilities focus on the described core functions above, while the remaining 10% encourages the associate to engage in TD-wide initiatives, program events, training and other organizational activities that contribute to professional growth and team collaboration.

Program requirements -

• In an Accounting program (CPA path preferred)

Technical / Soft skills requirements

• Must be detailed oriented and quick to apply new concepts
• Must demonstrate excellent written and verbal communications skills with the ability to communicate clearly with various stakeholders at various levels of seniority
• Exposure to the Bank's operational and financial reporting processes, systems, and control infrastructure (preferred)
• Good understanding of financial statement assertions and their practical application in controls
• Demonstrated ability to build effective and collaborative working relationships with cross-functional teams and business partners
• Proven analytical skills and sound judgment
• Ability to operate as a working lead on initiatives as assigned
• High personal standards for quality and accuracy
• Excellent project management and analytical skills
• Ability to manage deadlines, multiple tasks and adapt well to changing priorities
• Proactive and highly motivated individual who will take the initiative and who can work independently and in a team environment.
• Proven ability to work with Microsoft PowerPoint, Word, and Excel software.

Who We Are

TD is one of the world's leading global financial institutions and is the fifth largest bank in North America by branches/stores. Every day, we deliver legendary customer experiences to over 27 million households and businesses in Canada, the United States and around the world. More than 95,000 TD colleagues bring their skills, talent, and creativity to the Bank, those we serve, and the economies we support. We are guided by our vision to Be the Better Bank and our purpose to enrich the lives of our customers, communities and colleagues.

TD is deeply committed to being a leader in customer experience, that is why we believe that all colleagues, no matter where they work, are customer facing. As we build our business and deliver on our strategy, we are innovating to enhance the customer experience and build capabilities to shape the future of banking. Whether you've got years of banking experience or are just starting your career in financial services, we can help you realize your potential. Through regular leadership and development conversations to mentorship and training programs, we're here to support you towards your goals. As an organization, we keep growing - and so will you.

Our Total Rewards Package

Our Total Rewards package reflects the investments we make in our colleagues to help them and their families achieve their financial, physical, and mental well-being goals. Total Rewards at TD includes a base salary, variable compensation, and several other key plans such as health and well-being benefits, savings and retirement programs, paid time off, banking benefits and discounts, career development, and reward and recognition programs. Learn more

Additional Information:
We're delighted that you're considering building a career with TD. Through regular development conversations, training programs, and a competitive benefits plan, we're committed to providing the support our colleagues need to thrive both at work and at home.

Please be advised that this job opportunity is subject to provincial regulation for employment purposes. It is imperative to acknowledge that each province or territory within the jurisdiction of Canada may have its own set of regulations, requirements.

Colleague Development
If you're interested in a specific career path or are looking to build certain skills, we want to help you succeed. You'll have regular career, development, and performance conversations with your manager, as well as access to an online learning platform and a variety of mentoring programs to help you unlock future opportunities. Whether you have a passion for helping customers and want to expand your experience, or you want to coach and inspire your colleagues, there are many different career paths within our organization at TD - and we're committed to helping you identify opportunities that support your goals.

Training & Onboarding
We will provide training and onboarding sessions to ensure that you've got everything you need to succeed in your new role.

Interview Process
We'll reach out to candidates of interest to schedule an interview. We do our best to communicate outcomes to all applicants by email or phone call.

Accommodation
Your accessibility is important to us. Please let us know if you'd like accommodations (including accessible meeting rooms, captioning for virtual interviews, etc.) to help us remove barriers so that you can participate throughout the interview process.

We look forward to hearing from you!

Language Requirement (Quebec only):
Sans Objet