Title- Financial Reporting Analyst
Duration: 6+ Months
Location- San Francisco, CA (Hybrid 2 day in office)
Job Description:
Purpose:
Responsible for preparing and reviewing financial reports for inclusion in the Bank’s regulatory reporting (e.g., the Bank’s 10K/10Q and regulatory agencies) and management reporting. Analyze data and calculate and post accounting entries for the Bank’s various investments and products.
Primary Responsibilities:
Prepare and review monthly, quarterly, and year-end financial reports and supporting documentation primarily related to Advances, Consolidate Obligation Bonds, MBS and non-MBS investments. Ensure that reporting is accurate, timely, and based on internal and external reporting requirements. Research and resolve any discrepancies.
Review drafts of the Banks’ 10Q/10K and provide corrections and comments.
At month end, leverage Bank applications to record the monthly amortization of the premium/discounts for the Bank’s CO Bonds, MBS, and Treasury Notes. Perform analysis to derive the retrospective amount of the amortization. Prepare manual amortization spreadsheets if needed. Reconcile and certify general ledger accounts.
At month end, perform fair value accounting for the Bank’s financial assets (MBS and Treasuries) classified as Available for Sale or Trading. Reconcile and certify general ledger accounts.
Identify opportunities to streamline, automate, or improve efficiencies within department processes. Support Bank upgrades of systems/applications that affect the department. Review application requirements and perform testing.
Assist in preparing the required quantification and analysis of other-than-temporary-impairment (OTTI) and Current Expected Credit Losses( CECL) measures for financial reporting purposes, including computing present values and determining internal rates of return. Reconcile and certify general ledger accounts.
Design and develop new reports using Business Objects or enhance existing reports to reflect changes in policy or to incorporate new requirements from the regulatory agencies. Complete necessary testing and remediation for any new or updated reports.
Collaborate with other departments to gain a working knowledge of operations affecting accounting.
Update procedures and internal controls documentation on a timely basis.
Assist with audit requests and compliance reviews. Provide ad hoc reporting as needed.
Cross-train within the department to provide backup coverage as needed.
Skills/Knowledge:
- A bachelor’s degree in accounting is required. Strong working knowledge of balance sheet, income statement, trial balances and journal entries.
- Minimum of three to five-year’s experience in accounting/portfolio accounting, including financial reporting preparation, is preferred. Direct work experience with mortgage securities accounting is preferred.
- Two years of direct experience with database logic. Ability to mine an existing database using SQL and use financial and accounting concepts to prepare financial analysis, calculations, and reports as the basis of accounting entries and for informational purposes highly desired.
- Advanced MS Excel skills (e.g., pivot tables, Excel VBA, Power Query, VLOOKUP, NPV, IRR, etc.) is required.
- Working knowledge of Adobe, Oracle SQL Developer, Crystal Reports, and Business Objects is preferred.
- Proficiency with other software programs, such as Workday accounting or other accounting and financial applications is helpful.
- Proven analytical and critical thinking skills, including experience with variance analysis and reconciliations.
- Strong interpersonal, organization, and work prioritization skills. Proactive in preparing for upcoming deadlines.
- Ability to communicate effectively, both in written form and verbally.
