Accounting & Financial Reporting Manager

Job Description

Job Description

VersaBank is a North American bank, federally chartered in Canada and the United States through its wholly owned subsidiary, VersaBank USA National Association. Operating with a branchless, business-to-business model, VersaBank uses proprietary, leading-edge technology to address underserved segments of the financial industry with exceptional efficiency and a strong focus on risk mitigation.

VersaBank obtains the majority of its deposits and conducts most of its lending electronically through financial intermediary partners. This model provides significant operating leverage, enabling exceptional efficiency and returns on common equity. In 2024, VersaBank launched its Structured Receivable Program funding solution for point-of-sale finance companies, which has been highly successful in Canada for over 15 years, to the US market, bringing an innovative funding solution to this sector.

VersaBank's common shares trade on Nasdaq and the Toronto Stock Exchange under the symbol VBNK. For more information on VersaBank, please visit our website at 

We are looking for an  Accounting & Financial Reporting Manager  to join our team. In this role, you will be responsible for the US GAAP accounting and consolidated financial reporting function of VersaBank while ensuring compliance with US GAAP, SEC reporting requirements, applicable banking regulations, and internal control standards. You will work in direct partnership with management, regulators, and external auditors. In addition, you will champion continuous improvement by leveraging technology, automation and process enhancements to improve efficiency, strengthen internal controls, and enhance the efficiency of financial reporting without sacrificing accuracy.

Primary responsibilities include:

• Lead preparation and review of monthly, quarterly, and annual consolidated financial statements (SEC and other Regulators) including disclosures.
• Lead preparation of the Consolidated US GAAP Statement of Cash Flows.
• Review journal entries, balance sheet reconciliations and supporting schedules prepared by accounting staff.
• Develop, maintain and document US GAAP accounting policies and accounting position papers.
• Coordinate with external auditors and regulators and serve as the primary US GAAP accounting contact during audits and examinations.
• Develop, document and maintain SOX 404 internal controls over financial reporting, including process narratives, control matrices, risk assessments and remediation plans.
• Utilize Sage ERP to develop financial reports, validate accounting data and improve reporting capabilities.
• Promote a culture of continuous improvement by challenging existing processes, identifying opportunities for automation and standardization, and implementing solutions that improve efficiency while maintaining the highest standards of accuracy, governance and regulatory compliance.
• Mentor, coach and develop team members.

What we look for:

• Bachelor's degree in Accounting, Finance or related field.
• CPA designation preferred.
• 6–10 years of progressive accounting experience with financial institutions or publicly traded companies.
• Strong knowledge of US GAAP and SEC financial reporting requirements.
• Experience preparing US GAAP Statements of Cash Flows for an international company preferred.
• Experience supporting Bank Holding Company reporting preferred.
• Advanced Microsoft Excel skills.
• Excellent analytical, organizational and problem-solving skills.
• Strong written and verbal communication skills.
• Ability to manage multiple priorities while maintaining exceptional attention to detail.

Please note this list is not designed to cover or contain a comprehensive list of activities, duties, or responsibilities that are required for this job. Duties, responsibilities, and activities may change at any time with or without notice.

Location

This position will be based at VersaBank’s Minneapolis, Minnesota office location.

Benefits

We offer excellent career advancement opportunities, an informal, positive work environment, and a very competitive compensation package including medical, vision and dental coverage, and life, AD&D and disability insurance. VersaBank USA employees also enjoy participation in a 401(k) plan, and time off policies as well as annual incentive awards.

EEO Statement

VersaBank USA is an equal opportunity employer committed to diversity, equity, and inclusion. We believe that we grow as we actively search for new ideas and welcome different perspectives. We also recognize that the best way we can serve our diverse communities is to have those communities represented in our workforce. VersaBank USA doesn't discriminate against, nor tolerate harassment by any person, including co-workers, supervisors, or third parties, based on any Protected Characteristics. Creating an inclusive and professional environment where employees feel comfortable, safe, and free from inappropriate and disrespectful conduct allows our employees to flourish and effectively collaborate.

Disclaimer

Applicants may be subject to a background check. Employees in this position must be able to satisfactorily perform the essential functions of the position. If requested, VersaBank USA will make every effort to provide reasonable accommodations to enable employees with disabilities to perform the position’s essential job duties. As markets change and the Bank grows, job descriptions may change over time as requirements and employee skill levels evolve. With this understanding, the Bank retains the right to change or assign other duties to this Operations & Administrative Coordinator position.

Application Deadline

VersaBank USA accepts applications on a rolling basis. Even if your qualifications don’t match our criteria exactly, we welcome you to apply if you have an interest and feel you would be able to succeed in this position. We have found that people with a diversity of backgrounds and variety of experiences in our workforce creates a more rewarding, dynamic, and effective work life.