Assistant Manager , Specialized Accounting (Investment Securities)
The Senior Accountant will be responsible for the review and preparation of accounting entries and reporting schedules under US GAAP, IFRS, German accounting standards and Regulatory standards for Investment carried at amortized cost, marked-to-market to-OCI and to the income statement. This individual will develop extensive operational knowledge and provide subject matter expertise in the area of accounting related to investment securities which include:
- Adjustments to USGAAP
- Multiple internal entities
- Internal transfers
- Purchases and sales
- Investment Accounting
In addition to Business As Usual (BAU) responsibilities as described above, this role will lead the process re-engineering, standardization, and automation efforts.Responsibilities & Tasks Include:
Business As Usual (BAU) Activities:
- Develop the team to adopt “owner’s mind set”, work independently, and effectively manage timelines
- May be required to provide accounting analyses or research on critical and complex issues which may include variance analysis of accounting transactions related to the products supported.
- Develop subject matter expertise in all aspects of the products under responsibility including operational aspects of a particular accounting transaction.
- Participate in or manage function-specific projects as needed
- Ensure high quality and completion of deliverables within the committed timeframe. Team deliverables revolve around;
- Monitor investment security realized gain/(loss) and prepare manual journal entries
- Monitor investment security purchase and sale activity
- Coordinate month-end close including prepare/review manual journal entries and export accounting system reports
- Prepare account reconciliations and certification
- Process adjustments to Treasury Data Repository (TDR), complete TDR data checks, and perform TDR reconciliations to the ledger
- Prepare Regulatory Reporting.
- Prepare Regulatory, SEC, and Internal reporting
- Perform CCAR CFO attestation control testing
- Perform SOX control testing
- Response Audit queries and submissions of reports to Auditors and Tax Team.
- Prepare and update process narratives/procedures and flow charts
- Response to internal and external requests including variance analysis and inquires
- Participate in Ad Hoc projects and new transactions
- General ledger account requests
- Accounting systems maintenance and upgrade
- Perform user access reviews & certifications
- Perform analysis to support intercompany transfers, prepare automated transfer processing file, validate transfers, and prepare manual journal entries
Process Re-Engineering, Standardization, and Automation:
- Responsibility for ongoing process improvements
- Assist in implementation of the GAO process re-engineering and automation efforts
Education and Experience:
- Master’s Degree in Accounting, Chartered Accountant (CA) and Certified Public Accountant (CPA)/MBA-Finance with 5-7 years of progressive experience in R2R areas with major financial institutions
- Extensive practical experience and knowledge of the US GAAP and IFRS accounting standards for the above areas, experience with other accounting standards (German, etc.) is a plus
- In depth knowledge of Accounting for Certain Investments in Debt and Equity Securities ASC 320 former FAS115.
- Understanding of international regulatory landscape, experience with statutory accounting/reporting groups across several major international geographies.
- Experience of building and maintaining strong control environment (risk excellence, experience with SOX, RCSA controls, etc.), establishing, procedures and strong internal controls.
- Experience working with multi-geographical processes process
- Extensive experience performing day-to-day accounting operations, month-end and quarter-end activities for the above areas of accounting
- Experience with R2R (record-to-report) centralized processes
- Proficiency in Microsoft Office suite (Excel, Access, PowerPoint, Word), advance levels of Excel (pivot tables, formulas, excel workbook maintenance best practices)
- Knowledge of Hyperion Essbase, Oracle Financials.
- Knowledge of Spotfire, Cognos data analytics and visualization (or similar) is a plus
- Conceptual understanding of company-wide financial architecture (GL, sub-GL technology, specialized tools) applicable to the above process groups of processes
- Excellent communication skills, prior experience of interacting with multiple stakeholders (Legal Entity and Geography controllers) in NA, EMEA, APAC
- Independent decision-making capabilities
- Pride of ownership with the ability to deliver high-quality results timely
- Self-motivated, self-assured, and self-managed
- Strong analytical ability to analyze and summarize financial transactions related to the products supported
- Strong attention to details
- Problem solving skill
- Highly organized with ability to multi-task and work under high-pressure deadlines
- Must be able to work in a fast-paced environment