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Accounting /Derivatives Analyst

  • Location: San Francisco, 94104
  • Job Type:Contract

Posted about 1 year ago

Title: Sr. Accounting and Reporting Analyst 
Location: Remote
Type: Contract

Job Description:   

Responsible for all financial and regulatory reporting on the Bank’s derivatives.  Ensure that each monthly close is completed with a high degree of accuracy, be able to create and implement controls to ensure accuracy of data, maintain knowledge of current accounting practices and regulatory requirements, and enforce adherence to internal accounting policies.   
Major Accountabilities:      

  • Account for derivatives and hedged instruments under ASC 815 and following the Bank’s Accounting Policy and procedures.  
  • Prepare analytical reports to support the internal or external variance description of changes in the Bank’s hedged portfolio values.
  • Manage hedge effectiveness testing process. Perform hedge inception testing on all new trades, ensuring trades meet the requirement of Bank policies and ASC 815.  Perform weekly hedge effectiveness testing and document any failures in accordance with Bank policies and procedures.
  • Liaise with counterparts in Capital Markets and Analysis to resolve any issues with valuation inputs used in hedge effectiveness testing process and/or month-end reporting processes.
  • Main point of contact for internal Information Services and Service Delivery staff on issues linked to hedge effectiveness testing or month end reporting process.
  • Prepare and certify monthly close reports.  
  • Ensure that transactions are processed in accordance with the Bank’s and the Federal Housing Finance Board’s policies and procedures. 
  • Prepare, review and analyze sections of financial and regulatory reports, including the 10Q and 10K, SEC and the Office of Finance related to derivatives and hedge accounting. 
  • Serve as main point of contact in PAA for regulatory reporting questions, and or changes to quarterly templates, and to coordinate timing of deliverables related to the monthly and quarterly closing process.
  • Train and support less experienced team members. 
  • Prepare reports using Business Objects/Crystal Reports and analyses to facilitate management decision-making.  
  • Ensure that written procedures and established standards are current, documented and accurately reflect departmental business functions. Ensure that accounting policies relating to reporting and servicing are being enforced. 
  • Maintain awareness of regulatory, internal system or procedural changes to help identify modifications for policies and procedures. 
  • Assist in the testing and implementation of new systems. 
  • Additional duties may include setting standards for monitoring the review of financial statements postings related to derivatives and hedge accounting, implementing changes in accounting policy, managing response and resolution to audit inquiries and managing accounting projects in support of business or department goals. Assist others as requested, and perform ad hoc projects as needed.  


  • Bachelor’s degree in Accounting, Finance, a related field or equivalent work experience is required.  Certified Public Accountant (CPA) designation is preferred.  
  • Minimum of five to seven years experience in accounting/treasury/investment operations performing financial reporting duties is required.  
  • Must be able to analyze, apply, interpret and communicate policies, procedures, and regulations effectively. 
  • Prior experience operating PC-based software and/or automating database systems is required.  
  • Prior experience working with complex spreadsheets, database applications, and query design is required. 
  • Must have a broad working knowledge of Generally Accepted Accounting Principles. 
  • Working knowledge of developmental databases, Crystal Reports, Business Objects and SQL is preferred  
  • Excellent verbal and written communication skills, with strong analytical and problem-solving skills required.