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Picture

Tony Kwan
​
​
..Financial reporting

..IFRS

..Treasury

Finance leader with 30 years of experience in financial reporting and treasury
Picture
Tony is an expert in:

. Statutory and Regulatory Reporting
. IAS 39 Fair Value accounting
. FAS 133 Hedge Accounting
. IFRS9 Financial instrument accounting
. Automating financial technology
. Mortgage Accounting
. Asset Liability Management
​. Projects (IFRS 9 impairment, OSFI reporting, SOX, EUC)
​. Designing and building a securities database (Trading and AFS) to centralize disclosure and governance
 . Custer 7 Excel governance and control
. Cognos Disclosure Management system CDM
. Driver based forecast and planning

WORK EXPERIENCE (RBC) 1986 - 2017
​

Sr. Director, Statutory and Regulatory Reporting 2009 - 2017
- Automate Report to Shareholders process leveraging Cognos Disclosure Management, resulting in both effectiveness and over 50 workday savings by front loading efforts.
- Design and build securities data base (Trading and AFS) which enabled centralization of disclosures and ensure enterprise governance and consistencies resulting in hundreds of workdays eliminated across the enterprise.
- Executed various accounting standards and projects (IFRS 9 impairment stream, OSFI reporting, SOX, EUC Controls etc).

Sr. Director and program lead, Project IAS 39
2006 – 2009
- Led bank-wide design and execution of IAS 39 (Fair Value accounting)
- Design and executed Classification and securities disclosure process with strong SOX controls.

Sr. Director - Forecasting and Financial Reporting, Global Technology & Operations 2004 – 2005
- Led major restructuring impacting over 3,000 FTE by centralizing IT and Operations groups across the enterprise.
- Constant up/down communication with senior executives and impacted groups.

Sr. Director, Global Services 2003 – 2004
- Responsible to help define and deliver financial results.
- Cut areas where cost/benefits did not make financial sense.

Sr. Director and program lead, Enterprise General Ledger Replacement 2001 – 2003
- Prepared PAR (Project Appropriation Requests) from CFO to Board to replace 40 disparate GL systems across the enterprise into one with cost over $100 million and 73,000 workdays.
- Led Project Office, Financial Office, Training and Legal streams.
- Project was delivered on budget and on time.

Project Lead/Sr. Director, Corporate Treasury / Finance (FAS 133 Hedge Accounting) 1999 – 2001
- Led the design and execution of Hedge Accounting enterprise wide with minimal budget.
- Worked directly with the CFO office to deliver results on time on budget and minimize earning volatilities.

Sr. Director, Merger Office (RBC- BMO proposed merger), Head Office 1998-1999
- Led both RBC and BMO Finance team in delivering critical financials analysis to both banks’ Board and Canadian Ministry of Finance and the Competition Bureau.
- Tracked and cost out public commitments made by both Banks.

Sr. Director, Enterprise Financial Policy & Decision Support 1997-1998
- Designed and implemented Economic Capital Allocation and Matched Maturity Funds Transfer Pricing policy and systems.

CFO and Sr. Director, Mortgages Business 1996-1997
Sr. Director, Finance Review Transformation Task Force 1995-1996
Senior Manager – Asset Liability Management 1992-1995
Manager, Performance Management, Forecasting and Planning 1989-1992
Assistant Manager Forecasting – Corporate Comptroller 1987-1989
Financial Analyst – Corporate Comptroller 1986-1987

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​EDUCATION

M.B.A. (Finance and Accounting), McGill University, 1985

Diploma in Management, McGill University, 1983


​Bachelor in Engineering (Civil), McGill University, 1982

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Major recognitions:
- Recognized by RBC CEO in RBC bank wide Annual Employee shareholders meeting for transforming Asset/Liabilities management by introducing and executing computer simulation
- Received recognition letters from Senior Executive (SVP Capital Marketa) for reducing Risk Weighted Assets and improve tier 1 capital ratio by over 10 bps
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  • Home
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    • Audit & Accounting
      • Accounting & Financial Reporting
      • Internal Audit Outsourcing
      • Accounting Outsourcing
        • Registration Accounting
      • IFRS
      • ESG Reporting
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      • Fraud Risk
        • Fraud Risk Framework
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  • Experts
    • Ken Clarke
    • Bijan Alagheband
    • Basel Anbari
    • Andrea Aimi
    • Wadih Antoun
    • Kapil Arya
    • Katia Barakat
    • Sharon Bauer
    • Mo Bhamra
    • Michael BiZ (Ph.D.)
    • Tim Boucher (CIA)
    • Dan Brennan
    • Chris Caldwell
    • Michael CamilleriI
    • Michael Castro
    • Chiranjib Chatterjee
    • Mumtaz Chaudhary
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    • Terry Chong
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    • Ken Green
    • Harry Gundy
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    • Mitch Hirshhorn
    • Sumit Jha
      • Sumit Experience
    • Elyan Jabre
    • Balveen Kaur
    • Kshitij Kaushal
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    • Data - Kieng Iv
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    • Tony Kwan
    • Rebecca Lai
    • Mark Levesley
    • Cecily Ma
    • Tom O'Carroll
    • Simran Makkar
    • Sahil Malik
    • Terry Martinuk
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    • David McIntosh
    • Indranil Mitra
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    • Arlene Palango
    • Doug Pirie
    • Karthikeyan Raaj
    • Jayanth Rao
    • Andrew Richardson
    • David Rose
    • Dhritiman Roy
    • Nandini Roy
    • Dhruv Sachdev
    • Martin Seaton
    • Devanshi Sharma
    • Bill Shek
    • Jane Shen
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