General Summary: Maintains accounting records, reports and controls for derivatives, such as interest rate swaps, including their use in hedging financial instruments. This activity is performed in an accurate, reliable and timely manner in compliance with FHLB policies and procedures and generally accepted accounting principles (GAAP).
Principle Duties and Responsibilities:
Consults and works with staff in the Accounting, Treasury and Financial & Market Risk Analysis Departments to ensure appropriate accounting treatment is applied to new and existing derivative products, including hedge relationships, margining and financial instruments containing embedded derivatives.
Creates and maintains derivative and hedging subsidiary records and applications within the Accounting Department systems and End User Computing (EUC) Applications; ensuring compliance with GAAP and FHLB policy.
Collaborates with department management in preparation, review, analysis and presentation of reports to management, the Board of Directors, the Federal Housing Finance Agency, the Office of Finance, and SEC.
Contributes to the analysis of accounting processes and IT systems, prepares recommendations and documentation to create and maintain related policies and procedures (including internal control processes), compliance requirements and IT system enhancements.
Knowledge of accounting at a level normally acquired through completion of a Bachelor's Degree in Accounting. CPA or advanced degree preferred.
Three or more years of related work experience with derivatives and hedge accounting. Knowledge of hedge effectiveness methodologies preferred.
Intermediate understanding of accounting and related systems (general ledger and other supporting automated and manual systems).
Intermediate knowledge of and ability to understand and apply GAAP.
Analytical skills necessary to develop a variety of complex factual reports through data gathering, interpretation, compilation, and analysis of information. Ability to pay close attention to details under strict deadlines.
Ability to regularly work independently, following guidelines, with the ability to recognize new, unusual or complex situations including the ability to exercise professional skepticism and propose alternatives and implement solutions.
Effective written, oral communication and interpersonal skills necessary to interact effectively and maintain positive relations with personnel, external agencies and customers.
Proficiency in use of personal computer including advanced knowledge of spreadsheet applications (Microsoft Excel preferred).
Demonstrates a commitment to diversity and inclusion. Promotes an environment of empathy and respect, ensures the inclusion of all team members, and will actively engage in D&I events and learning opportunities.
About FHLB Cincinnati
We were created by Congress in 1932 to provide housing finance access to our members. We are owned by the financial institutions with which we do business, and we do not receive any taxpayer dollars. Profits are returned to members as dividends and also support affordable housing.
BACK TO TOP
PA Banking Career Center is Just One of the Benefits.
Discover what else PBASC has to offer!
The job you are trying to reach from was originally posted at PA Banking Career Center.