Accounting Standards Specialist

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Position Title: Accounting Standards Specialist

Job Summary:

• Monitors compliance by concerned units with the requirements for the implementation of international accounting standards.  Reviews Bank contracts and maintains contracts database to document the review process.

Role Exposure:

Accounting Standards and Review Section

• Ensures that all concerned units are in compliance with the submission requirements for bank contracts and other supporting documents.
• Reviews all non-standard contracts (term sheets, investment securities, loan agreements, purchase orders, service agreements, intercompany contracts, etc.).
  • Gathers all non-standard contracts and other supporting documents from originating units
  • Identifies contracts with possible embedded derivatives
  • Evaluates whether embedded derivatives should be bifurcated and recommends proper accounting treatment for transactions.
  • Summarizes all contracts with embedded derivatives that require valuation and bifurcation
• Coordinates with Treasury Group and Risk Management Group for the valuation of embedded derivatives.
• Ensures bifurcation of embedded derivatives and proper treatment of transactions.
• Reviews and evaluates significant contracts and identifies applicable accounting standards.
• Evaluates completeness and compliance with accounting and financial reporting standards of quantitative and qualitative financial statements disclosures provided by banking units, subsidiaries and associates.

Others

• Performs other related functions that may be assigned from time to time.

Qualifications:

• Bachelor’s Degree in Accountancy
• Fresh graduates are encouraged to apply
• Willing to work on-site

Other Details:

Rank: Rank and File

Unit: Financial & Control Sector / Controllership Group / Institutional Accounting Division / Group Financial Reporting Standards Department

Location: Metrobank Center BGC, Taguig City