About the Team/Role

The Derivatives Accounting & Reporting Team is responsible for complex accounting processes related to derivatives such as:

• balance sheet netting

• classification and presentation of derivatives on the balance sheet for consolidated companies and individual legal entities

• elimination entries between affiliates, and

• calculation of certain notional balances on derivative contracts

In order to perform these accounting processes, the team compiles derivatives and foreign-denominated asset and liability data from several sources and reconciles this data to ensure that is complete and accurate using a combination of manual and automated procedures. The team then applies the technical accounting requirements to this data and uses the accounting records to prepare certain regulatory filings on a timely and accurate basis. This work effort requires derivative and foreign denominated financial instrument product knowledge, as well as an understanding of the technical accounting requirements related to derivatives and foreign denominated financial instruments. There must be a demonstrated ability to research and evaluate how these transactions are accounted for in systems of record, complemented by the ability to design operational accounting processes that address data integrity and produce high quality accounting data. In addition, the team must also compose business requirements documents that prescribe the technology requirements required to implement production enhancements that reduce the level of manual intervention in the accounting and reporting processes. 

The role involves close work with specialists in other accounting operations groups, enterprise risk, and enterprise technology. The ability to build and maintain relationships and communicate effectively is an asset. This individual must be able to manage multiple deliverables simultaneously and will act as the primary contact for various initiatives and projects as they arise.

Required qualifications

• 12+ years of experience in one or a combination of the following: finance, accounting, analytics, financial reporting, accounting reporting or risk reporting; 2+ years of management experience

Desired qualifications

• MBA (Finance) or CFA or CPA or CA

• 2+ years of Big 4 public accounting experience

• Knowledge and understanding of financial products: fixed income securities, derivatives and foreign exchange

• 2+ years of experience in SEC and regulatory reporting (FR Y-9C, FFIEC 009, FFIEC 031/041, FR Y-15, FR2436, TIC reports, FR-Y2900, FFIEC 030)

• Ability to manage effectively in a matrixed organization

• SQL experience

• Ability to incorporate multiple data sources and develop strategies/operational processes (Calypso, GMI, Endur, Broadridge, Wall Street, CFMA-LIMBE, OPICS, FACS, Midas Plus, Hogan, CoRS)

• Advanced Microsoft Office (Word, Excel, Outlook, and Access) skills

• Excellent verbal, written, and interpersonal communication skills

• Ability to strategically analyze data and diagnose opportunities and interventions

• Ability to execute in a fast paced, high demand, environment while balancing multiple priorities

• Superior project management skills including the ability to handle multiple projects concurrently

• Ability to work effectively in a team environment and across all organizational levels, where flexibility, collaboration, and adaptability are important

• Microsoft Visio experience

Other desired qualifications

• Experience in consolidation accounting, balance sheet netting, foreign currency accounting and general accounting for derivative contracts

• Ability to re-engineer accounting and reporting processes to gain efficiencies and to enhance controls

• Ability to define, implement, and manage best practice processes that support sound data management operations (i.e. testing, data analysis, metadata, reconciliation)

• Knowledge and understanding of analytical methods used to: plan, conduct, and direct the analysis of complex business problems

• Alteryx, Power BI, Tableau, Axiom