Team OverviewFinancial Accounting (FA) is responsible for all daily, weekly, monthly and quarterly accounting and reconciliations, as well as all required reporting to the SEC, FHFA and OF. FA works with various stakeholders including HR, Legal, Corporate Real Estate, Membership, Senior Management, SOX, internal and external auditors and the OF.
Position OverviewThis position is responsible for supporting the external reporting function; SEC reports to include 10-K and 10-Q, and various reports filed with bank regulators. Research technical accounting/reporting matters; and other special projects as assigned by Manager or Sr Manager of Financial Reporting. In addition, this position will have a significant role in implementation of new trade accounting subledger.
Essential Duties:Internal Reporting- Heavy involvement with implementation of new trade accounting subledger. This will include configuration, integrations with other Bank applications and UAT testing,
- Support accounting reconciliations and reporting functionality for all fixed income products including mortgage loans.
- SME level cash flow understanding. Prepare quarterly Statement of Cash flow for regulatory and SEC. Prepare insightful quarterly variance analysis for senior management.
- Research for explanation of any variances of trading subledgers and general ledger.
- Review/Approve daily summary of settlement breaks.
- Sign off on controls governing the DDA Cash balance, general ledger, the mortgage provider's database and in-house mortgage loan application proofs for completeness and accuracy. Exceptions are followed up and resolved in a timely manner.
- Review/Approve monthly analysis for Real Estate Owned property to ensure activities are booked in GL appropriately.
- Streamline month end account analysis process. Design accounting/reporting specifications for systems.
- Manage relationships with third party vendors.
- Prepare periodic management reports and financial statements.
- Take a leadership role in system design and implementation projects, particularly those closely related to financial reporting.
SEC Reporting- Manage the quarterly and annual SEC filings (i.e., 10-Qs and 10-K) which include generating and compiling supporting documentation.
- Supervise the production of financial statements and support for Management's Discussion and Analysis of Financial Condition and Results of Operations (MD&AM) in the 10-Q/K.
- Collaborate with employees from other departments to ensure proper accounting for fixed income trading products including mortgage loans.
- Research current accounting and reporting issues, trends, and policies to be applied to applicable transactions and/or SEC filings.
- Review disclosures in the 10-Q/K for accuracy. Initiate changes to streamline the SEC reporting process.
- Manage the preparation and accuracy of the Statement of Cash Flows.
XBRL Tagging- Review and research XBRL tagging prepared by the third-party vendor (Workiva) to determine if the tagging is in compliance with SEC guidelines. Work closely with vendors to rectify tagging errors.
- Work closely with other 11 Federal Home Loan Banks to ensure XBRL tagging consistency within the FHLBank system.
External Reporting- Monitor, understand and implement FHFA regulations and the Office of Finance's requirements pertaining to financial reporting and ensure compliance with the reporting systems, CRS and FRS
- Lead the annual Form 1042 filings with the IRS.
- Research for new FASB accounting pronouncement and assist in the implementation of changes.
Compliance- Prepare, maintain and update accounting policies and procedures in conformity with SOX requirements.
- Oversee Financial Accounting's compliance with policies and procedures.
Other Duties:- Internal: Internal Auditors, SOX, Legal, Corporate Real Estate, HR, Senior Management, Risk Management, Capital Markets and Information Technology.
- External: FHFA examiners, external auditors (PwC) and the Office of Finance.
Skills:Strong organizational, analytical, critical thinking and problem-solving skills. Ability to balance multiple tasks and priorities and have outstanding work ethics and sense of urgency.
Experience:Four to eight years of experience required, preferably with a mix of public and private experience in banking or financial services with an emphasis in SEC reporting. Big Four Public Accounting experience a plus.
Education:Bachelor's degree in accounting and CPA preferred.
Credentials: CPA, CFA, Series 7
Salary: $125K to $135K
