| Job Description : |
Company
Federal Reserve Bank of New York
Working at the Federal Reserve Bank of New York positions you at the center of the financial world with a unique perspective on national and international markets and economies. You will work in an environment with a diverse group of experienced professionals to foster and support the safety, soundness, and vitality of our economic and financial systems. It is a challenge that demands the skills of a financial service professional and the intelligence of an academic—all combined with a passion for public service.
The Bank believes in work flexibility to balance the demands of work and life while also connecting and collaborating with our colleagues in person. Employees can expect to be in the office a couple of days per week as needed for meetings and team collaboration and should live within a commutable distance.
What we do:
SOMA Controllers (“SC”) is a business unit under the Corporate Controllers umbrella at the Federal Reserve Bank of New York (FRBNY). SC is responsible for accounting and financial reporting related to the System Open Market Account (“SOMA”), providing SOMA product development consulting and accounting systems support to the Markets Group, and providing accounting operational support for the Central Bank and International Account Services (“CBIAS”) group and the Exchange Stabilization Fund (“ESF”) on behalf of the U.S. Treasury.
SC is establishing a split-operation with staff located at two locations, New York City and Richmond, Virginia.
SC currently has an opening for a Product Accounting & Reporting Controller to lead the Richmond split-operations team that will perform daily operations and support financial reporting, product development and process improvement. The candidate will have the opportunity to learn about the wide range of operational, analytical, and services-oriented responsibilities of the Markets Group whose core mission is to:
Implement market operations consistent with FOMC authorization and directives
Monitor and analyze global financial market developments
Provide financial services for foreign and international monetary authorities
Provide capital market-related fiscal agency services to the U.S. Treasury
SC daily operations focus on processing accounting in Markets’ systems, performing proof and control activities and preparing reporting. SC staff perform operational activities on a rotating schedule, including start of day activities beginning at 8:00 am and/or end of day activities that typically conclude by 6:45 pm.
Your role as Product Accounting & Reporting Controller
Lead Richmond split-operations team, including two junior staff
Troubleshoot daily operations, as needed
Work across Markets (trading desk, settlements and risk teams), FRBNY and Board of Governors staffs to support operations, financial reporting and business development
Ensure readiness to support all activities if New York resources are unavailable
Develop expert knowledge of systems and tools used to support the Markets Group
Develop expert knowledge of SOMA products, including Treasuries, MBS, repos, reverse repos, FX, deposits, foreign sovereign debt and Fed specific products (e.g. liquidity swaps)
Support financial statement preparation and analysis
Support risk management, SOX and audit activities
What we are looking for:
CPA, Advanced degree in accounting or finance or equivalent experience
7+ years of relevant work experience in product controller, public accounting or fund accounting with an understanding of one or more of the following: government securities, mortgage-backed securities, lending, swaps, or foreign exchange products
Strong knowledge of internal controls, accounting operations and systems (e.g. custody systems)
Ability to interact effectively with colleagues across staff units
Strong analytical skills
Strong verbal and written communication skills
Flexibility to travel to New York when/if needed
Experience with Excel macro, Crystal reporting, SQL queries a plus
Benefits:
Our organization offers benefits that are the best fit for you at every stage of your career:
Fully paid Pension plan and 401k with Generous Match
Comprehensive Insurance Plans (Medical, Dental and Vision including Flexible Spending Accounts and HSA)
Tuition Assistance Program
And more
The Federal Reserve Bank of New York is committed to a diverse workforce and to providing equal employment opportunity to all persons without regard to race, color, religion, national origin, sex, sexual orientation, gender identity, age, genetic information, disability, or military service.
The successful candidate must be fully vaccinated against COVID-19, and receive a booster shot within 30 days of being eligible to do so, unless the Bank grants an exemption based on a medical condition or sincerely held religious belief.
Please note that the position requires access to confidential supervisory information and/or FOMC information, which is limited to “Protected Individuals” as defined in the U.S. federal immigration law. Protected Individuals include, but are not limited to, U.S. citizens, U.S. nationals, and U.S. permanent residents who either are not yet eligible to apply for naturalization or who have applied for naturalization within the requisite timeframe. Candidates who are permanent residents may be eligible for the information access required for this position if they sign a declaration of intent to become a U.S. citizen and pursue a path to citizenship and meet other eligibility requirements.
In addition, all candidates must undergo an enhanced background check, comply with all applicable information handling rules, and will be tested for all controlled substances prohibited by federal law, to include marijuana.
This is not necessarily an exhaustive list of all responsibilities, duties , performance standards or requirements, efforts, skills or working conditions associated with the job. While this is intended to be an accurate reflection of the current job, management reserves the right to revise the job or to require that other or different tasks be performed when circumstances change.
Full Time / Part Time
Full time
Regular / Temporary
Regular
Job Exempt (Yes / No)
Yes
Job Category
Accounting/Finance
Work Shift
First (United States of America)
The Federal Reserve Banks believe that diversity and inclusion among our employees is critical to our success as an organization, and we seek to recruit, develop and retain the most talented people from a diverse candidate pool. The Federal Reserve Banks are committed to equal employment opportunity for employees and job applicants in compliance with applicable law and to an environment where employees are valued for their differences.
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