Senior Accountant

LE001 Federal Home Loan Bank of New York; New York (NY); On-site; USD 125,000 - 135,000; Full time

Job summary

Federal Home Loan Bank of New York seeks a driven accounting professional to support external reporting and oversee SEC filings, including 10-K and 10-Q. The role emphasizes data accuracy, technical accounting research, and ownership of trade subledger implementations.

Ideal candidates have 4–8 years in banking or financial services with emphasis on SEC reporting, and a Bachelor’s in accounting; CPA preferred. This is a full-time, on-site role based in New York.

Qualifications

• Four to eight years of experience in banking or financial services with emphasis on SEC reporting.
• Mix of public and private accounting experience preferred.
• Knowledge of SEC filings and financial reporting processes.

Responsibilities

• Support external reporting function including SEC filings (10-K and 10-Q).
• Research technical accounting matters and assist in special projects.
• Lead implementation aspects of new trade accounting subledger and related controls.
• Prepare quarterly cash flow statements for regulatory reporting and SEC; analyze variances.
• Review and ensure accuracy of published financial statements and MD&A disclosures.
• Collaborate across departments to ensure proper accounting for fixed income products and mortgage loans.

Skills

Analytical skills

Organizational skills

Problem solving

Education

Bachelor's degree in accounting

CPA preferred

Job description

Team Overview

Financial 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 Overview

This 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&A) 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

Salary: $125K to $135K

Equal Opportunity Statement

The Federal Home Loan Bank of New York is committed to recruit, hire, develop, motivate, promote, retain, and compensate all applicants and employees in a nondiscriminatory manner without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, age, status as a parent, disability, genetic information, military or veteran status, or any other characteristic protected by applicable law (including title VII of the Civil Rights Act of 1964).

The Federal Home Loan Bank of New York is committed to recruit, hire, develop, motivate, promote, retain, and compensate all applicants and employees in a nondiscriminatory manner without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, age, status as a parent, disability, genetic information, military or veteran status, or any other characteristic protected by applicable law (including title VII of the Civil Rights Act of 1964).