What Does A Financial Reporting Manager Do?

WHAT DOES A FINANCIAL REPORTING MANAGER DO?

Published: May 7, 2025 – The Financial Reporting Manager ensures timely and accurate financial reporting while managing audits, internal controls, and compliance filings. This position coordinates strategic financial processes, drives continuous improvements, and supports budget planning, cost control, and funding evaluations. The manager also reviews internal reports, responds to CRA inquiries, and leads initiatives that enhance reporting efficiency and control execution.

A Review of Professional Skills and Functions for Financial Reporting Manager

1. Financial Reporting Manager Functions

IFRS Reporting: Production of the Aviva plc IFRS financial statements and notes, Solvency II QRTs, and narrative reports.
Process Improvement: Design, implement, and operate process improvements.
Group Consolidation: Run the Group consolidation process and produce an analysis to support the quality of the accounts.
Audit Coordination: Assist in the coordination of quarterly and annual audit reviews with external auditors.
Month-End Close: Assist in the month-end closing process, including the preparation and review of certain journal entries, reconciliations, and analysis.
Annual Audit: Coordinate the Company's annual audit with the independent auditors.
Safety Compliance: Follow all Agendia, Inc.’s health and safety policies and procedures.
FERC Filing: Lead staff in the preparation and filing of FERC Form 6 (annual) and Form 6Q (quarterly) for the partnership entities.
Stakeholder Coordination: Coordinate with internal stakeholders to support the reporting process and ensure compliance with FERC’s guidance.
Disclosure Preparation: Prepare financial disclosures to support FERC filings.
Control Documentation: Maintain process and control documentation associated with the partnership’s FERC reporting processes.
Accounting Research: Research and document accounting issues regarding the new guidance.
Audit Liaison: Serve as the department’s liaison on FERC common carrier audits.
Software Transition: Transition the FERC reporting software to XBRL.
Project Support: Respond to ad hoc requests and special projects.

2. Financial Reporting Manager Job Description

Data Planning: Ensure adequate planning for the successful delivery of quality data and oversee adjustments
Financial Analysis: Provide value-added financial analysis and clear, concise commentary on results for a wider audience
Journal Review: Review journal entries and account reconciliations, and present issues with proposed resolutions to the Controller
Variance Analysis: Analyze, interpret, and communicate cost and expense variances
Result Review: Review and analyze financial information and results, including ad-hoc analysis
Reporting Packages: Coordinate and prepare regular financial reporting packages with analysis
Budgeting Support: Assist with the preparation of financial plans and budgets
Accounting Analysis: Analyze accounting issues and financial results, including documenting supporting memos and accounting policies
ERP Coordination: Manage communication with the ERP team on all reporting-related ERP issues, including weekly calls and delivery timelines
Team Management: Manage and oversee the daily operations of the reporting team
Workflow Oversight: Oversee workflow, handle staffing issues, prepare performance reviews, and plan resources
Team Leadership: Provide leadership and mentoring to other team members
Cross-Functional Collaboration: Take a leadership role to collaborate with Finance teams and other stakeholders
Internal Communication: Establish relationships and communicate effectively with people in a variety of departments, including management
Staff Engagement: Engage with staff regularly to discuss the status of activities

3. Financial Reporting Manager Overview

Financial Reporting: Direct, coordinate, and review financial accounting and reporting, ensuring timely, relevant, and accurate reporting to all stakeholders.
Internal Controls: Assist in implementing an effective internal control environment across critical processes; document and monitor that the controls are adhered to for each reporting period.
Audit Management: Manage external audits, diligence matters, and other special transactions.
Control Execution: Manage and assist in executing management controls for accounting and reporting.
Reporting Review: Review monthly and quarterly internal reporting packages for various entities.
Strategic Coordination: Manage the timing, coordination, and expectations of the corporate objectives and key results.
Compliance: Review all compliance filings, including HST returns, ensuring they are accurate and submitted on time.
CRA Liaison: Handle all corporate entity CRA inquiries and support the divisional CRA responses.
Financial Reporting: Completion of quarterly and year-end financial reporting.
Process Evaluation: Evaluate existing financial reporting processes and drive improvements on a priority basis.
Process Improvement: Encourage and develop a process improvement mindset and change management skill set within the reporting and accounting teams.
Budget Analysis: Review budget reports for Senior Management, including income and cash flow projections and pro-forma analysis, and plan accordingly.
Project Funding: Review project updates and information packages (Draws) for Cost Consultants regarding the funding requirements of the project.
Cost Management: Discuss, monitor, and resolve issues regarding budget, cost movements, and forecasts with independent cost consultants.

4. Financial Reporting Manager Details and Accountabilities

Financial Operations: Oversee daily operations of the Financial Reporting department to achieve departmental obligations while ensuring the team’s development
Close Management: Manage the team’s monthly close activities and be accountable for the operating business closes
Reporting Design: Design and maintain standard financial reports for operating businesses, compile monthly business reporting packages, and conduct monthly business reviews
Variance Review: Review monthly working papers and variance analysis to ensure accurate and timely monthly financial reporting
Reconciliation Oversight: Manage the account reconciliation process and repository, and conduct periodic reviews of peer working papers
Quarterly Analysis: Deliver quality quarterly financial analysis as input to MDA for each business
Budgeting and Forecasting: Manage standard budget and forecast processes across operating businesses, meeting the division’s timelines
ASPE Compliance: Maintain knowledge of Canadian ASPE and related reporting requirements, and manage changes and updates to internal accounting processes accordingly
Process Improvement: Seek continuous improvement for finance processes, run process improvement workshops with stakeholders
Implementation Monitoring: Make recommendations for improvements, implement those recommendations, and monitor to ensure compliance
Data Governance: Responsible for defining data definitions to enable/enhance financial reporting consistency, including monitoring the GL structures
IFRS Consolidation: Consolidate group financial information in compliance with applicable IFRS standards
Statement Drafting: Manage the process of drafting annual financial statements, ensuring accuracy and completeness of disclosures
Standards Research: Research and keep current with accounting standards, especially as they relate to disclosure requirements
Relationship Management: Manage geographically diverse relationships

5. Financial Reporting Manager Additional Details

Financial Reporting Management: Manage the financial reporting function and ensure compliance under IFRS, US GAAP, and public reporting requirements
Timely Reporting: Ensure timely preparation of all financial information required for monthly, quarterly, and annual reports
Close Management: Manage the month-end close process
Reconciliation Support: Assist with month-end and year-end reconciliations and schedules
Balance Sheet Analysis: Prepare a financial analysis of various balance sheet accounts
IFRS Statement Preparation: Prepare draft quarterly and annual IFRS consolidated financial statements with accompanying notes, analyses, and supporting schedules
Technical Accounting: Assess and document the technical accounting impact and required disclosures for major transactions, including significant contracts, debt, and other complex transactions
Policy Development: Coordinate and develop written policies and procedures on an ongoing basis
Audit Planning: Assist with year-end audit planning and other related accounting duties
SOX Controls: Design and implement SOX-grade controls to ensure compliance with accounting requirements
Statement Production: Participate in the production of quarterly and annual financial statements, footnotes, and Management Discussion and Analysis
Audit Collaboration: Work directly with external auditors and upper management to support all aspects of financial reporting
Audit Management: Manage and participate in the external audit and attest work, document key accounting positions and policies, and coordinate audit staff requests
Close Procedures: Participate in month-end US GAAP and IFRS close procedures, including journal entry posting/review, GL account reconciliations, and financial statement analyses
Compliance Reporting: Responsible for the financial portion of all annual compliance reporting

6. Financial Reporting Manager Essential Functions

SEC Filing Support: Support the planning, preparation, review, and issuance of SEC financial filing requirements (Form 10-K, 10-Q, 8-Ks, 11-K)
Work Paper Preparation: Prepare and/or review quarterly work papers required for SEC filings
Financial Statement Preparation: Prepare quarterly financial statements (income statement, balance sheet, statement of equity, cash flow statement) in compliance with U.S. GAAP disclosure requirements
Data Consistency: Monitor the consistency of financial data in all externally reported information
Disclosure Coordination: Coordinate with corporate and business unit contacts for required input and disclosure support for SEC filings
Benchmarking: Compare and contrast the financial disclosure of the company with those of other SEC registrants for best practices
Earnings Review: Review quarterly earnings releases, attachments, and call scripts
Audit Facilitation: Coordinate and facilitate inquiries and requests of the company’s external auditors
Standards Implementation: Assist in the research, diagnostics, and implementation of new accounting standards and disclosure requirements issued by regulators
Accounting Research: Perform accounting research and document the company’s position regarding complex accounting matters
Policy Development: Formulate and update existing company accounting policies and procedures by U.S. GAAP
Retirement Plans Reporting: Manage and supervise the pension and 401(K) plan financial statement preparation and related work papers
SOX Compliance: Assist with Sarbanes-Oxley section 404 compliance regarding internal controls over financial reporting
XBRL Reporting: Assist with XBRL mapping/tagging of financial statements and related footnotes
Proxy Statement Review: Assist with the review of financial sections and supporting schedules of the annual proxy statement
Impairment Testing: Review and coordinate impairment testing of goodwill and other assets performed by the business units
Finance Guidance: Communicate with business unit finance personnel to guide ad-hoc accounting and finance inquiries

7. Financial Reporting Manager Role Purpose

SEC Reporting: Prepare and draft SEC financial reports (including 10-K, 10-Q) and other filings; perform complex analyses on financial statements and operating results related to the preparation of periodic SEC filings
Footnote Preparation: Prepare drafts of footnotes and Management’s Discussion and Analyses
Standards Compliance: Research new accounting standards, provide analyses, and drive compliance with GAAP, FASB, and SEC regulations
Audit Support: Support the coordination of the quarterly reviews and audits
Mergers and Acquisitions Support: Support the company’s Mergers and Acquisitions initiatives, including financial due diligence, valuation, and business combinations
Global Collaboration: Opportunity for international exposure by working with Europe, Asia Pacific, Canada, and Mexico operations
Ad Hoc Projects: Assist with other ad hoc accounting and finance projects
Business Partnering: Partner with business and general accounting teams to provide financial counsel, advice, and support for business initiatives
Statement Preparation: Prepare and present financial statements and related reports, including balance sheets, income statements, and cash flow reports
System Evaluation: Review, evaluate, and implement accounting systems, policies, and procedures
Lender Reporting: Drive the external financial reporting process for note holders and lending institutions, ensuring all monthly, quarterly, and annual filings are completed accurately and on time
Timely Reporting: Ensure all financial reports are prepared in a timely and accurate manner
Performance Review: Provide management with timely reviews of the organization’s financial status and progress
Analytics Development: Responsible for the development of analytic solutions to support various business units
Data Integrity: Ensure quality and data integrity in the financial information and reporting deliverables provided to senior management

8. Financial Reporting Manager General Responsibilities

Statutory Reporting: Manage the production of the annual statutory accounts of the bank and associated legal entities
Audit Coordination: Assist with the day-to-day management of the annual statutory audit and continuously liaise with external auditors and Senior Management to minimize bottlenecks and meet board, regulatory, and Companies House deadlines
Audit Liaison: Work closely with the Audit Manager from an external accountancy practice
FINREP Submission: Responsible for the accurate and timely submission of the FINREP templates to the PRA
Policy Expertise: Act as a subject matter expert on all accounting policies and standards for London
Technical Advisory: Provide technical guidance to the front office/business up to the Senior Management level on all matters relating to accounting standards
Standards Implementation: Assist with the implementation of new accounting standards
Standards Monitoring: Assist with the coordination, communication, and monitoring of new accounting standards implementation
Asset Management: Responsible for the Fixed Assets Register of the London subsidiary by ensuring appropriate accounting for additions and disposals
Stakeholder Communication: Deliver high-quality and timely responses to the Head Office, Senior Management, and other stakeholders
Communication Clarity: Ensure all communications are succinct and clear for recipients
Control Framework: Implement an efficient control framework, ensuring procedures and policies are in place and fully end-user computing compliant
Accounting Guidance: Provide accounting advice for new transactions and/or standards and assist in the maintenance of the Group Accounting Policy
Financial Reporting: Prepare monthly financial reports and supporting analysis for senior management
Audit Management: Manage the external audit process

9. Financial Reporting Manager Key Accountabilities

Financial Reporting: Report to the Director of Financial Reporting and work closely with the SVP Corporate Accounting, Chief Accounting Officer, and Chief Financial Officer to oversee financial reporting responsibilities
SEC Filings: Draft the Company’s external financial reports, including all quarterly and annual financial statements filed with the SEC
Internal Reporting: Assist with the Company’s internal financial reports, including executive management and Board reports, investor communications, and other reporting
XBRL Filings: Prepare the Company’s XBRL filings that accompany quarterly and annual financial statements
GAAP Compliance: Stay informed on emerging accounting issues and new pronouncements to ensure financial statements are presented following GAAP
Technical Accounting: Analyze, research, and document critical and complex accounting and reporting issues faced by the Company
Mergers and Acquisitions Support: Assist with due diligence for potential acquisitions, purchase accounting, and other acquisition-related activities
Audit Coordination: Work closely with external auditors and coordinate the Company’s quarterly reviews and annual audits
Project Ownership: Responsible and accountable for various job duties, responsibilities, and special projects as directed or initiated independently
Cross-Functional Collaboration: Foster and build teamwork between the finance, accounting, and operating functions
Reporting Support: Respond to reporting-related questions, concerns, and inquiries; provide ad hoc support to the Controller
Project Participation: Participate in and occasionally lead special projects impacting the Finance department
Regulatory Liaison: Coordinate and liaise in the areas of regulatory compliance
Compliance Reporting: Ensure compliance with SOX, IFRS disclosure, and regulatory reporting requirements
Tax Support: Assist with the preparation and review of domestic and commodity tax returns, including supporting tax audits

10. Financial Reporting Manager Roles and Details

Reporting Planning: Planning and preparation of key activities of the reporting cycles
Financial Consolidation: Consolidation of the Group's financial data and generation of Aviva plc Report and Accounts, including business performance analysis, financial statements, corresponding notes, and regulatory and narrative reporting
Data Analysis: Analysis of consolidated data and review, and challenge of reported numbers
Accounting Judgment: Bring business knowledge and sound accounting judgment to ensure the consistency and robustness of reported numbers
Control Assurance: Ensure the operation of controls to support the quality and accuracy of Aviva plc's Report and Accounts, regulatory returns, and narrative reporting
Stakeholder Communication: Brief and communicate with business units, internal and external stakeholders, including Aviva Group teams and offshore resources
Process Leadership: Implementation of change within the team, championing and leading continuous process improvement
Cycle Support: Perform other work to support IFRS or SII cycles, including process improvements
US GAAP Reporting: Assist in the preparation of the quarterly U.S. GAAP-based financial package
Statutory Filings: Assist in the preparation of the quarterly insurance statutory financial filings
Annual Reporting: Assist in the preparation of the U.S. GAAP-based Annual Report
Annual Statements: Assist in the preparation and oversee the filing of the insurance statutory Annual Statements
Presentation Review: Assist with the review of all Company presentations and reports containing financial information
Internal Controls: Execute various internal control procedures over financial reporting
Accounting Research: Research and prepare white papers on accounting for various topics under U.S. GAAP and insurance statutory accounting practices
Team Management: Manage, coach, and instruct subordinate staff members

11. Financial Reporting Manager Responsibilities and Key Tasks

SEC Filings: Assist in the preparation and coordination of Form 10-Q and 10-K filings, including the financial statements, footnotes, and Management’s Discussion and Analysis
Earnings Reporting: Assist in the preparation and coordination of the quarterly Earnings Release and Management Investor Deck
Consolidation Support: Assist in the preparation of certain accounting areas and analysis supporting the consolidation process
Lease Accounting: Ongoing management and accounting of the Company’s centralized accounting for leases under ASC 842
Technical Research: Provide technical accounting research and analysis
Standards Implementation: Assist in the implementation of any new applicable pronouncements
Special Projects: Lead or participate in special projects and accounting transactional items
SOX Compliance: Participate in SOX 404 controls walkthroughs and provide support in SOX testing coordination between process owners, internal auditors, and external auditors
Control Maintenance: Maintain internal controls over financial reporting processes
Audit Facilitation: Liaise with external auditors to facilitate the completion of their quarterly reviews
Accounting Memorandums: Research technical accounting matters and prepare well-written memorandums and presentations articulating these matters, including Software Revenue Recognition under ASC 606, Consolidation Analyses, Stock-based Compensation, Mergers and Acquisitions (Business Combinations), Investment Accounting, Impairment Analysis, Lease Accounting, and other specific transactions
Contract Evaluation: Review contracts, evaluate, and communicate accounting consequences of potential transactions
Statutory Compliance: Assist the compliance teams with statutory reporting and filing requirements
Internal Reporting Support: Support business partners with their various ad hoc requests for internal management reporting and analyses

12. Financial Reporting Manager Duties and Roles

Stakeholder Coordination: Coordinate input from stakeholders within the organization and prepare quarterly and annual external financial reports.
Technical Accounting: Perform technical accounting research and prepare associated memoranda, develop global accounting policies, and support the implementation of new accounting standards under both GAAP and IFRS.
Standards Compliance: Coordinate the process to identify and record IFRS to GAAP differences and review associated documentation to ensure the accuracy and completeness of adjustments.
Audit Oversight: Conduct the audit/review of the corporate entities along with the subsidiary financial statements.
Journal Review: Review journal entries and reconciliations associated with the day-to-day accounting for various corporate entities.
Global Close: Own the monthly global accounting close and perform the monthly global multicurrency consolidation.
Intercompany Reconciliation: Review the reconciliation of global intercompany accounts.
Process Optimization: Identify and execute process enhancements relating to corporate accounting and external reporting functions.
Cross-Functional Collaboration: Establish relationships outside of finance to deliver analytical support to senior decision-makers.
Reporting Management: Coordinate and manage the month-end reporting process.
Financial Advisory: Assess and advise management on the financial implications and consequences of business decisions, including the preparation of Capital Expenditure Proposals.
Forecasting and Reporting: Prepare accounting packs for key departments, full-year forecast results, and KPI reports.
Audit Liaison: Liaise with auditors and manage the preparation of statutory reports.
Procedural Improvement: Implement and monitor procedures for review and identify areas for continuous improvement.
Technical Documentation: Draft technical accounting papers for the Audit and Risk Committee and the Board.

13. Financial Reporting Manager Roles and Responsibilities

Financial Oversight: Oversee all relevant financial reporting across multiple lines of business, including Profit and Loss, balance sheet, working capital, cash flows, financial schedules, footnotes, and parent company consolidated financial statements.
Audit Coordination: Act as liaison between stakeholders and external auditors.
Systems Implementation: Partner with cross-functional teams to implement new reporting systems.
Technical Accounting: Provide technical accounting guidance and implementation of any new guidelines and standards across all lines of business.
Restructuring Support: Support all restructuring provisions, impairments, and other one-off items, including annual impairment testing of goodwill and indefinite-life intangibles.
International Reporting: Assist in A-share and Hong Kong financial reporting.
Project Coordination: Collaborate with cross-functional teams to coordinate implementation efforts across functional areas.
Standards Interpretation: Interpret China accounting standards and CSRC guidance to determine accounting and financial reporting treatment, including for complex, unusual transactions or agreements in the deal structuring phase.
Guidance Research: Leverage experience researching relevant PRC/IFRS accounting guidance to identify key accounting issues and recommend accounting solutions and disclosure requirements for complex and non-routine transactions.
Policy Updates: Ensure that accounting policies and estimates are updated on time to reflect all changes.
Standards Bridging: Partner with the International Technical Accounting team to bridge to related US accounting standards as well as relevant SEC disclosure requirements.
Auditor Engagement: Manage communications with external auditors on external financial statements and accounting issues to ensure auditor agreement with company decisions on accounting disclosures and issues.
SEC Reporting: Assist with the administration and preparation of SEC filings for Section 16 officers (i.e., Form 3, Form 4) and ensure timely filing.
Disclosure Research: Research and document disclosure requirements for significant unusual transactions.
Cross-Department Collaboration: Work directly with various personnel, including members of senior management in other departments, to obtain necessary information to ensure accurate disclosures in the company’s financial statements.

14. Financial Reporting Manager Responsibilities

Financial Reporting Support: Support the Financial Reporting Director in preparing consolidated financial statements and footnote disclosures on a quarterly and annual basis, under public company accounting standards
IPO Preparation: Play an integral role in the Company’s preparation to potentially be a public company by researching the disclosure requirements and preparing registration statements on Form S-1
Audit Readiness: Implement a financial statement tie-out process for the financial statement audit
Audit Liaison: Serve as the point of contact for external auditors on financial statement disclosure and tie-out questions
Reporting Tools: Assist in onboarding and managing a financial reporting tool that can be used for SEC filings
Cross-Functional Coordination: Collaborate with cross-functional teams to coordinate implementation efforts across functional areas (e.g., management reporting)
Statutory Reporting: Prepare subsidiary and statutory financial reporting, including broker-dealer financial statements
Reporting Package: Assist with the monthly tie-out of the reporting package
Disclosure Compliance: Complete disclosure checklists to ensure all disclosure requirements are met
Disclosure Research: Research disclosure requirements and stay abreast of new pronouncements impacting disclosures
Benchmarking: Establish a repository of peer company disclosures and practices
Stakeholder Communication: Collaborate with investor relations, legal, and Financial Planning and Analysis on external stakeholder financial communications
Revenue Recognition: Partner with the Sales Organization to understand the revenue recognition treatment of potential customer contracts under ASC 606 and document appropriate accounting memoranda
Policy Development: Lead the ongoing development/establishment of accounting policies and procedures and operational strategies, including the review and implementation of process and system changes
Standards Implementation: Identify, evaluate the impact of, and implement new and evolving accounting standards and regulations

15. Financial Reporting Manager Accountabilities

Control Design: Understand internal control design concepts to assess the effectiveness of controls and design new, effective processes and controls for emerging and growing business activities
SOX Compliance: Lead the continued development, implementation, and maintenance of internal SOX controls
SEC Reporting Support: Work with the Controller and Associate Director, Financial Reporting and Planning, in developing financial statements for applicable SEC filings, consolidation, and other statutory reporting packages
Statement Preparation: Lead the preparation of the Consolidated Balance Sheet, Consolidated Income Statement, Statement of Cash Flows, Statement of Stockholders' Equity, and related support
Audit Support: Assist with the annual audited financial statements and footnotes, and other company filings
Budget Coordination: Assist the Associate Director, Financial Reporting and Planning, in coordinating with various levels of management to gather, analyze, summarize, and prepare operating budgets and financial forecasts
Reporting Support: Preparation of reports and analyses in support of month-end, quarter-end, year-end, and forecasting processes
Revenue Recognition: Assist in reviewing revenue contracts to evaluate revenue recognition treatment and ensure revenue is accounted for by U.S. GAAP, particularly Gross to Net accounting for Pharma product sales (ASC 606)
Technical Accounting: Research and document technical accounting issues related to material transactions to support audits and financial reporting, primarily under U.S. GAAP, with potential for IFRS
Journal Entry Management: Prepare and/or review journal entries and reconciliations for any assigned areas
Special Projects: Perform or assist with ad-hoc or special projects
Process Improvement: Actively participate in process improvement, including automation and efficiency projects
Investor Reporting: Produce monthly management and investor reporting packages
Budgeting and Forecasting: Prepare and maintain company budgets and forecasts
Custom Reporting: Construct, identify, develop, and implement custom reports within the enterprise

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