Main Street Financial Accounting & Reporting Oversight Senior

Federal Reserve Bank
Boston, Massachusetts, United States
Competitive salary
16 Sep 2020
17 Sep 2020
Job role
Experience level
Qualified accountant
Job Summary
The Federal Reserve Bank of Boston (FRBB) is administering special lending facilities to support lending to small and medium-sized businesses due to exigent circumstances caused by the COVID-19 pandemic.

This position is responsible for handling a wide range of complex assignments including GAAP research and interpretation, in support of the Main Street Lending Team with minimal supervision.

Principal Accountabilities
1. Analyze and review financial data for compliance with FAM guidelines (accounting rules), PACS guidelines (cost accounting rules) and the Discretionary Expenditures Policy.
2. Prepare and oversee vendor processing of complex general ledger entries, asset management transactions, capital accruals, and reconcile complex accounts.
3. Prepare financial schedules and reports for management, as required.
4. Assist in the year-end processes and financial statement review.
5. Provide consultative and analytic support on complex accounting issues to Main Street Lending Facility operations.
6. Maintain a strong working knowledge of GAAP in areas such as impairment analysis, loan and bank accounting, financial statements disclosures, and other relevant areas.
7. Oversee the preparation, analysis and processing of accounting entries by the accounting vendor and perform daily general ledger reconciliations.
8. Ensure the accurate and timely processing of accruals.
9. Analyze data from multiple accounting systems for trends and anomalies.
10. Process and track capital expenditures.
11. Formulate, track and periodically report on the SPV's budget.
12. Participate in System-wide workgroups, as assigned.
13. Assist manager with System projects, such as testing and implementation of new applications and upgrades of existing applications.
14. Provide training, assistance and guidance to departments on accounting applications and accounting policies.

Other Accountabilities
Perform other duties as assigned.

This position is not required to directly supervise others. However, the position may occasionally guide lower level accountants on assignments.

Knowledge and Experience
Knowledge and experience normally acquired through, or equivalent to, the completion of a Bachelor's degree in accounting or finance
and a minimum of 4 years of job-related experience.
Knowledge of financial accounting principles and concepts.
Strong analytical and problem solving skills.
Excellent written and oral communication skills.
Banking or financial industry experience preferred.

All employees assigned to this position will be subject to FBI fingerprint/ criminal background and Patriot Act/ Office of Foreign Assets Control (OFAC) watch list checks at least once every five years.

The Federal Reserve Bank of Boston is committed to a diverse and inclusive workplace and to provide equal employment opportunities to all persons without regard to race, color, religion, national origin, sex, sexual orientation, gender identity, age, genetic information, disability, or military service.

The above statements are intended to describe the general nature and level of work required of this position. They are not intended to be an exhaustive list of all duties, responsibilities or skills associated with this position or the personnel so classified. While this job description is intended to be an accurate reflection of this position, management reserves the right to revise this or any job description at its discretion at any time.

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