Job Information
Federal Reserve System Product Accounting & Reporting Analyst in Richmond, Virginia
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.
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 maintains two operating locations, in New York City and Richmond, Virginia.
SC currently has an opening for a Product Accounting & Reporting Analyst in Richmond to perform/review daily accounting and reporting. 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 utilizing the SOMA portfolio.
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’s daily operations focus on processing accounting in Markets’ systems, performing proof and control activities and preparing reporting. SC staff performs 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 Analyst:
Perform daily accounting at start of day and/or end of day for Markets systems, including OPICS.
Troubleshooting accounting proof and control issues with Markets staffs, Fedwire Operations, Corporate Accounting and other Federal Reserve Banks
Prepare/review daily accounting activity for the SOMA.
Prepare/review daily, monthly, and quarterly SOMA and ESF financial reporting and analysis.
Review periodic account and custody reconciliations.
Participate in periodic audits and internal control reviews.
Support new product implementations and related system testing.
What we are looking for:
Strong knowledge of internal controls and accounting operations
Understanding of the economic and market factors that shape monetary policy decisions, including fixed income markets, repurchase agreements, and foreign exchange products.
Demonstrated aptitude for performing operational activities under time pressure with a high degree of accuracy and strong attention to detail.
Strong analytical, critical thinking and problem-solving skills
Strong interpersonal skills and ability to interact and collaborate effectively with team members, senior management and external parties.
Strong knowledge of Microsoft Excel; Knowledge of Excel macros and SQL queries a plus
Flexibility to travel to New York when/if needed.
Salary Range: $62000 - $78000 / year
We believe in transparency at the NY Fed. This salary range reflects a variety of skills and experiences candidates may bring to the job. We pay individuals along this range based on their unique backgrounds. Whether you’re stretching into the job or are a more seasoned candidate, we aim to pay competitively for your contributions .
Our Touchstone Behaviors —Communicate Authentically, Collaborate Inclusively, Drive Progress, Develop Others, and Take Ownership—help shape the culture of the Bank. They also provide a shared language for how we work together and achieve success, and they set clear expectations for leading with impact at every stage of your career with us. Learn more. (https://www.newyorkfed.org/careers/touchstone-behaviors)
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)
Subsidized Public Transportation Program
Tuition Assistance Program
Onsite Fitness & Wellness Center
And more (https://www.newyorkfed.org/careers/benefits_health.html)
The New York Fed expects its employees to perform their duties with honesty, integrity, and impartiality, and without improper preferential treatment of any person. Learn more about our code of conduct and conflicts of interest rules. (https://www.newyorkfed.org/aboutthefed/ethics-conflicts-of-interest)
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, pregnancy, or military service.
We value accessibility for all candidates and are happy to provide an accommodation or assistance . Please email us at ny.leaves@ny.frb.org and we’ll be glad to help. Please note, this is a dedicated e-mail box designed exclusively to assist applications with accommodation requests in relation to our recruiting process. All other inquires including the status of applications will not receive a response from this e-mail box.
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.
_This position requires access to confidential supervisory information (CSI) and/or Federal Open Market Committee (FOMC) information. Access to CSI and FOMC information is limited to U.S. citizens, lawful permanent residents, individuals who meet the definition of “protected individual” under 8 U.S.C. § 1324b(a)(3), and certain other nonimmigrants. All non-U.S. citizens authorized to access CSI and/or FOMC information must sign a declaration of intent to expeditiously become a lawful permanent resident and thereafter a U.S. citizen when eligible. _
Full Time / Part Time
Full time
Regular / Temporary
Regular
Job Exempt (Yes / No)
No
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.
Privacy Notice (https://www.kansascityfed.org/documents/7797/Workday_Privacy_Notice.pdf)
OUR BANK has one of the most recognizable brands around the world. The Federal Reserve is the central bank of the United States—one of the world's most influential, trusted and prestigious financial organizations. The Federal Reserve is charged with the important mission of promoting a strong economy and a stable financial system and fulfills this responsibility by formulating national monetary policy, supervising and regulating banks and bank holding companies, and providing financial services for banks and the U.S. government.
OUR PEOPLE are diverse in background and ideas, which allows for ongoing creativity and innovation. Ultimately, they are the ones who push our high-performance, exchange-driven culture forward.
Why Our People Choose Us:
Our reputation precedes us
There will always be room for personal growth
Our people are first
You’ll find the right balance
Your responsibilities will be meaningful
We hope that you will be our future colleague.