Compensation Accounting Director

Role Description

The Director of Compensation Accounting at SMBC is a senior leadership role responsible for end-to-end ownership of accounting, reporting, controls, and governance over all personnel-related expenses (payroll, bonus, benefits, deferred compensation).

This role leads a team within the Controller/Finance organization and partners closely with HR, Payroll, FP&A, and senior management to ensure accurate financial reporting, robust controls, and strategic insights into compensation costs.

Role Objectives: Responsibilities

• Leadership & Functional Ownership - Lead the Compensation Accounting function across SMBC Americas.  Oversee a team responsible for Payroll accounting, Bonus and incentive compensation accounting, Benefits and deferred compensation.  Set the vision, strategy, and operating model for compensation accounting. 
• Financial Close & Reporting Oversight - Own the month-end, quarter-end, and year-end close for all personnel expense accounts.  Review and approve journal entries for payroll, bonus, and accruals.  Financial statement disclosures related to compensation, Ensure reporting aligns with US GAAP / IFRS / J-GAAP requirements.
• Accruals, Estimates & Analytics - Oversee complex accrual methodologies, including Bonus pools and incentive plans, deferred compensation and retention awards.  Provide executive-level analytics on Compensation trends, Variance drivers vs. budget/forecast.  Partner with FP&A to ensure accurate forecasting of personnel costs. 
• Controls, Governance & Risk Management - Design, implement, and enhance internal controls framework over compensation accounting.  Ensure compliance with SOX controls, internal policies and global standards.    Oversee audit readiness and remediation of control deficiencies. 
• Balance Sheet Integrity & Reconciliations - Ensure integrity of compensation-related balance sheet accounts, including Accrued payroll, bonus liabilities, benefits payables.  Review and challenge account reconciliations and aging items. 
• Audit, Regulatory & External Reporting - Serve as key point of contact for External auditors, Internal audit and Regulatory exams.  Oversee preparation of supporting schedules, disclosures and documentation.  Ensure adherence to regulatory expectations in a large global banking environment. 
• Systems, Transformation & Process Improvement - Drive automation and optimization across Payroll and HRIS integrations and General ledger systems.  Lead initiatives to standardize processes, improve data quality and reporting timeliness.  Leverage technology and advanced Excel / data tools to enhance efficiency.
• Business Partnering & Stakeholder Management - Act as senior finance partner to HR / Compensation & Benefits, Payroll and Senior Finance leadership.  Provide insight into compensation strategy impacts on financials.  Support executive decision-making on compensation structures and cost optimization.  

Qualifications and Skills

• Bachelor’s degree in accounting, Finance, or related field.
• 10–15+ years’ experience in Compensation and/or Equity Based Accounting leadership, ideally within banking or financial services.
• Knowledge of financial reporting, balance sheets and general accounting practices including U.S. GAAP and IFRS
• Experience with financial statements including footnotes and working with external auditors
• Experience with general ledger functions and the month-end/year close process
• Strong analytic and problem- solving skills
• Strong organizational skills, detail oriented with ability to manage multiple assignments concurrently
• Strong communication and interpersonal skills
• Extensive Excel experience required; Oracle Cloud GL and Alteryx knowledge a plus
• CPA preferred

Additional Requirements