Derivative Accounting and Compliance Analyst
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Job Description
Compensation Grade:
09BASIC PURPOSE:
Perform required functions associated with compliance of Accounting Standards Codification ASC 815 and other derivative accounting pronouncements. Perform special project work associated with ASC 815 systems, processes and activities. Monitor derivative financial models, including statistical regression, and amortization that are required to comply with ASC 815.ESSENTIAL FUNCTIONS:
Analyze derivative transactions and the respective documentation and applies departmental policies and procedures to ensure compliance.
Contribute to system-oriented projects to include involvement with detailed testing, as well as analysis and requirements definition.
Represent the business unit in Information Technology enhancement projects. This includes attending detail project meetings, user acceptance testing and working with management to resolve unexpected testing results.
Monitor, maintain, and understand the Bank’s Statistical Regression Model used for retrospective testing of hedge correlation for all instruments receiving hedge accounting. Work with detailed data and analyzes calculation results to support fair value hedge relationship assertions and documentation.
Review, monitor, and understand the Prospective Effectiveness tests used to comply with Prospective Testing requirements of ASC 815 for all instruments receiving hedge accounting to support an expectation of highly offsetting market value changes under fair value hedge relationships. Recommend design enhancements and perform testing of regression and amortization calculations used for ASC 815.
Provide analytical review of market valuations used for ASC 815 accounting.
Assist with the maintenance and updating of the Accounting Services department ASC 815 procedures and documentation.
Maintain and enhance the ASC 815 processing system and interfaces to other systems.
Involvement with critical accounting functions, including accounting entries, processing as necessary for monthly accounting close, and monthly and quarterly reporting, in addition to providing support through cross-training with ASC 815 and other departmental areas.
Use existing and write new SQL queries to analyze data and provide ad hoc data requests.
KNOWLEDGE, SKILLS, ABILITIES:
Good communication and problem-solving skills are required.
Ability to work with minimal supervision required.
Experience with financial instruments and derivatives desired.
MINIMUM REQUIREMENTS:
A bachelor’s degree in accounting/finance and two years accounting/financial analysis to include derivatives and/or ASC 815 experience, or the equivalent combination of education and experience. Certified Public Accountant certificate or Chartered Financial Analyst credential is desired.
Work Location: This individual must reside within commuting distance from our Atlanta, GA office. This position may not be filled in New Jersey, either in-person or remotely.
Work Schedule: Onsite with an opportunity to work remote partially.
Visa Sponsorship: Applicants must be authorized to work for ANY employer in the U.S. We are unable to sponsor or take over sponsorship of an employment Visa at this time.
We are an equal opportunity employer.
Automate your job search with Sonara.
Submit 10x as many applications with less effort than one manual application.