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Assistant Controller
The Assistant Controller is responsible for maintaining the integrity of financial reporting in accordance with U.S. GAAP, preparing regulatory reports, and overseeing the preparation of monthly and annual financial statements at a U.S. bank. The position requires 6–9 years of experience in banking, knowledge of U.S. GAAP, and the ability to lead a team of controllers and assist with regulatory audits.
About the Job
This role is part of the Controllership and Regulatory Reporting team within the U.S. Finance team and is responsible for maintaining the integrity, accuracy, and consistency of accounting information for a U.S. bank. This includes applying U.S. GAAP and procedures to analyze financial data, prepare accurate and timely financial and regulatory reports, and ensure the effectiveness of internal accounting control processes. Additional responsibilities include financial profitability analysis and the execution of special projects, as assigned.
Duties & Responsibilities
- Support the accounting and controllership functions, including the recording of assets and liabilities, revenue and expense recognition, and intercompany transactions in accordance with U.S. GAAP
- Prepare and assist with the submission of regulatory filings, including bank regulatory reports (e.g., Call Report / FFIEC 041 or 051, FR Y-9C / Y-9LP / Y-9SP), and provide support for OCC and FDIC examinations, information requests, and correspondence
- Support for Basel III capital reporting (CET1, Tier 1, Total Capital, leverage ratio), RWA methodology and presentation (with a focus on Lombard loans, mortgages, and collateralized exposures), and CECL (ASC 326) estimates and allowance modeling
- Manage the month-end and year-end closing processes, including the preparation of journal entries and account reconciliations, ensuring compliance with U.S. GAAP
- Participate in external financial statement audits, regulatory examinations, and internal audits. Assist in the development and maintenance of internal controls, accounting policies, and procedures to ensure compliance with applicable laws, regulations, and industry best practices, including Regulation W and requirements for transactions with affiliates
- Support accounting and regulatory activities across other Itaú U.S. entities (e.g., New York, Lisbon, Zurich, Luxembourg, and the Caribbean)
- Comply with regulations and lead a team of associate and analyst accountants
- Comply with the principles, laws, rules, and regulations related to anti-money laundering and the Bank Secrecy Act, as well as Itaú’s related policies and procedures
Qualifications
- Bachelor's degree in Accounting or equivalent
- 6 to 9 years of financial accounting experience at a U.S. commercial bank with direct exposure to OCC, FDIC, and/or Federal Reserve examinations
- Strong knowledge of U.S. GAAP and banking industry products
- Hands-on experience preparing and reviewing U.S. bank regulatory filings, including the Call Report and FR Y-9C
- Strong analytical and problem-solving skills, with the ability to manage multiple priorities and deadlines
- Fluency in Portuguese or Spanish is a plus
- A CPA or MBA is a plus
- Comply with the principles, laws, rules, and regulations related to anti-money laundering and the Bank Secrecy Act, as well as Itaú’s related policies and procedures
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