Assistant Financial Controller - Accounts Payable, Finance and Currency Operations
Description
Assistant Financial Controller - Accounts Payable
Finance and Currency Operations Department
The Bermuda Monetary Authority (Authority or BMA) is seeking the services of a skilled and capable individual to work as an Assistant Financial Controller – Accounts Payable in our Finance and Currency Operations Department. Reporting to the Financial Controller, the postholder will be responsible for directing and managing the department’s accounts payable function and ensuring timely and accurate processing. The postholder will also develop relevant policies, procedures and financial reports to provide effective controls for the BMA in relation to monthly statements and the budgetary control process, directing, coordinating and controlling the service delivery of the accounts payable function.
This is a key role for the Authority and the postholder will be responsible for but not limited to:
• Managing daily operations of the Accounts Payable function including accounting for vendor management
• Supervising all outgoing wire transfers and associated reconciliations
• Reviewing the Authority’s local bank account balances daily and presenting recommendations to transfer funds to/from local accounts to meet requirements
• Reconciling monthly HSBC bank accounts, ensuring accurate matching of bank statements with general ledger accounts
• Creating and maintaining a roster of authorised signatories for payments from the Authority’s bank account. Coordinating deletion or addition of signatories to the Authority’s accounts as required
• Reviewing, updating and implementing all risk controls of Accounts Payable (whether financial, management or procedural) in collaboration with senior management
• Managing the monthly accruals and preparing monthly reconciliation in accordance with the agreed deadline
• Preparing Property, D&O, Crime and Cyber insurance policy renewal documentations
• Preparing annual IFRS Financial Statements and related disclosures and ensuring they are completed accurately and in accordance with the agreed deadline
• Preparing/reviewing the Accounts Payable section’s transactions monthly; investigating variances; and reconciling the daily Accounts Payable transactions from the Federal Reserve and notifying the appropriate persons of any errors or omissions
• Preparing monthly management accounts and supporting notes for review by the Financial Controller on a roster basis with the Investment Manager, Assistant Financial Controller – Accounts Receivable and Currency Operations Manager in accordance with agreed deadline. Preparing management accounts highlights in PowerPoint for the ARMC for review by the Financial Controller in accordance with the agreed deadline
• Reviewing assigned Department’s monthly accounts, budgets and forecasts in compliance with established deadlines
• Supervising Accounts Payable team and is the first contact for resolution of any queries from the team or wider authority for all Accounts Payable tasks including resolution of Workplace issues, etc
• Serving as alternate for fixed assets accounting and reconciliation, ensuring accurate maintenance and updates to the fixed assets register, compliance with accounting standards, timely capitalisation, depreciation and disposal of assets
• Acting as key contact for the internal and external auditors for accounts payable activities, capital expenditures, all expense categories and related activities. Preparing/reviewing all supporting Accounts Payable team prepare schedules for the Auditor General in relation to the Authority’s annual audit
• Preparing accounts payable or cash flow information as necessary for the Audit Committee and ensuring timely follow up to accounts payable and related audit points
• Assisting with the preparation and supervision of the annual budget and forecasts for Finance and Authority Finance department expenses
• Serving as primary point of contact for all accounts payable related automation, system enhancements and process improvement initiatives
• Performing other related work and special projects as assigned by management in accordance with competencies normally associated with this post
This position requires a proven technical and business background, therefore, the postholder must have:
• A bachelor’s degree in accounting, finance, business administration or a relevant discipline from a recognised institution with an accounting designation from a professional body to be eligible for membership with CPA Bermuda
• A minimum of seven (7) years’ experience in the financial services industry and/or working experience with a financial regulatory body, of which at least three (3) years should be at a senior level
• Strong leadership, mentoring and supervisory skills
• Confidence in conducting and speaking at meetings with senior management
• Exceptional analytical, written, oral and communication skills, and strong attention to detail and accuracy
Bermuda Monetary Authority is the integrated regulator of the financial services sector in Bermuda. We offer the opportunity for broad exposure to international regulatory issues, special projects and a variety of work experience.
If you are looking for a challenging opportunity in a team environment, we invite you to submit your application online via our ‘Careers at BMA’ page at www.bma.bm. Applications for this position must be received no later than 31 March 2026.
BMA House | 43 Victoria Street | Hamilton HM 12 | Bermuda | Tel: (441) 295 5278
Bermuda Monetary Authority is an Equal Opportunity Employer.
Individual Excellence…Collective Strength