Accounting Specialist - Insurance - NAR (contract)

12 months contract

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 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.

Role Summary

We are seeking a dedicated and detail oriented Accounting Specialist to join our growing team. This position ensures proper execution of corporate accounting related functions (transactions, entries, reporting and maintenance) for VW Credit and its subsidiaries. All of this done in accordance with International Financial Reporting Standards (IFRS) and the VW Group Accounting Handbook, in order to support year-end financial processes, as well as adhere to internal and external audit requirements.

The Accounting Specialist needs to be able to perform complex and in-depth analysis and research, and act with significant latitude for un-reviewed action with work including, but not limited to the enhancement of internal controls and key control documentation. The position will also assist the Accounting Sr. Manager in analyzing financial information, conducting trend analysis, summarizing financial status and other ad hoc tasks. The work environment provides the opportunity for independent initiative and judgment to improve accounting processes, procedures, and financial reporting. This position will have frequent interaction with German HQ and other areas of the business such as Controlling, Risk, Tax, Structure Financed, Service Center Accounting, Treasury, VW and Audi Brands.

Role Responsibilities

We will expect you to prepare:

• Monthly financial statements for VCI and subsidiaries according to IFRS and be responsibilities for related month end activities
• Monthly Consolidated financial statements and related disclosure for submission to HQ according to IFRS
• Monthly financial reporting related to impairment for Risk Department
• Monthly reconciliations, research and resolve outstanding issues with other departments
• Year-end Statutory Financial statements, footnotes, and disclosures.
  
  

We Will Expect You To Analyze

• Monthly performance and major variances and provide to HQ for related questions
• And apply new accounting standards as applicable
• The financial statements, report on variances and resolve outstanding issues with other departments
• Major deviations from budget/forecast in collaboration with the Controlling Department
  
  

We Will Expect You To Assist And Support

• In the development and maintenance of financial control procedures for financial reporting under IFRS guidelines
• Internal and external audits with regard to control testing, account verifications, external confirmations, and other related projects
• The manager and other team members with various ad hoc projects
  
  

Other Responsibilities Include

• Recommending, developing, and maintaining the general ledger chart of accounts and cost centers ensuring that transactions are disclosed properly
• Suggesting changes in processes and procedures
  
  

Required Experience

5-7 years of professional experience in:

• Financial analysis
• Financial reporting
• Financial services or consumer finance
  
  

Education

Required –

• Bachelor’s Degree in Accounting or Finance
  
  

Desired –

• Master’s Degree in Accounting or Finance
  
  

General Skills

• Analytical and conceptual thinking – using logic and reason, being creative and strategic
• Self-starter with solid organizational skills
• Ability to work independently and effectively manage multiple priorities
• Strong problem solving skills and attention to detail
• Demonstrates a “can-do” positive attitude with willingness to learn and then be able to apply
• Ability to work cooperatively with others in a team environment through joining people, processes and/or systems
• Demonstrates assertiveness, influencing, and negotiation skills
• Communication skills – interpersonal, presentation and written
• Highly proficient in MS Excel and Word. Advanced knowledge in Excel understanding concepts of databases, PIVOT tables, filtering data, use of mathematical, logical and statistical functions
  
  

Specialized Skills

Required –

• Knowledge of captive insurance accounting and applicable regulations
• Preferred – proven expertise specific to accounting for Vehicle Service Contracts and other vehicle protection products (GAP insurance, Lease Excess Wear charge waivers, Tire and Wheel Protection, etc.)
• Understanding of IFRS and financial reporting principles
• Understanding of Financial Reporting Standards (IFRS)and financial reporting principles in a multi-entity environment (OEM/Obligor/Captive Insurance structures)
• Microsoft Office advanced level; Excel, Access
• Strong oral and written communications are necessary, ability to communicate with others on important, complex and non-routine issues
• Working knowledge of internal controls, business processes and experience in developing accounting policies
  
  

Desired –

• Understanding of accounting for financial services products (Finance Lease, Operating Lease, Retail financing) under IFRS
• CPA designation
• In-depth understanding of IFRS 17
• Experience with Deloitte Finevare
• Experience with Oracle Financials/GL Wand
  
  

Work Flexibility

• Minimal, 5%, travel may be required.
• During month/quarter/year-end closing and when preparing the annual financial statements, long hours may be necessary.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.
  
  

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.