Specialized Accounting Assistant Manager

Job Description

The Senior Accountant will be responsible for the preparation of accounting entries and reporting schedules under US GAAP, IFRS, German accounting standards and Regulatory standards for derivatives including hedge accounting, Long Term Debt, and Preferred Stock. This individual will develop extensive operational knowledge and provide subject matter expertise in the area of accounting related to the products which include: Preferred Stock Derivatives Non Hedging Long Term Debt Derivatives Hedging FX swaps Fair value Hedges Interest rate Swaps (IRS), FX Forwards Options Cash Flow Hedges - Cross Currency Swaps, IRS Futures Net Investment Hedges FX Forwards Stable Value WRAPIn addition to Business As Usual (BAU) responsibilities as described above, this role will identify opportunities for 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; Daily : Monitor deposit hedge, prepare manual journal entries and hedge designation summary Reconcile Summit derivatives market value to general ledger Reconcile the initial margin, variation margin, interest and fees for the derivatives traded with the central clearing house, CME, through the broker to general ledger and prepare manual reclass journal entries as necessary Weekly : Review off- book currency manual journal entries prepared by JV Prepare Regulatory reporting for FR2644 Monthly : Coordinate month- end close including prepare manual journal entries and export accounting system reports Review/Prepare account reconciliations and certification Prepare hedge inventory Perform hedge effectiveness testing Process Servicing Fee Invoice Quarterly : Prepare Regulatory, SEC, and Internal reporting Perform CCAR CFO attestation control testing Process Intercompany Tax Settlements Perform SOX control testing Review Operating Cash Inventory Annual : Process Trustee Fee Payments Calculate Management Fees Ad- Hoc : Prepare hedge designation summary 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 Responsibility for ongoing process improvements Assist in implementation of the GAO process re- enginerring and automation efforts Job Requirements: Education and Experience: Master s Degree in Accounting, Chartered Accountant (CA) and Certified Public Accountant (CPA)/MBA- Finance with 5- 10 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 Derivatives and Hedging ASC815, Offsetting of Amounts Related to Certain Contracts FIN39, Accounting In- depth knowledge of the Derivatives, Long Term Debt and Preferred Stocks. 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 Skills required: Proficiency in Microsoft Office suite (Excel, Access, PowerPoint, Word, Visio), 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) 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,

Keyskills :
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