Securities and Derivatives Accounting Specialist, Assoc. Dir.

Purpose:

The Portfolio Accounting and Analysis team is responsible for the technical accounting, preparation of journal entries, preparation and review of reports related to the various investment products the bank has. The team works closely with the Financial Reporting and Accounting Policy teams to ensure information they prepare is in accordance with US GAAP standards, the Bank's accounting policy manual, and is accurately reflected in the Bank's SEC filings, regulatory reporting, and management reporting.

Primary Responsibilities:

• Calculate and account for the various products the Bank has in its portfolio, including amortization of premiums and discounts for the Bank's investments and debt instruments, fair value accounting, and derivatives and hedge accounting.
• Calculate and record the current expected credit losses (CECL) and accretion of other-than-temporary-impairment (OTTI) for the MBS portfolio.
• Prepare and review monthly, quarterly, and year-end financial reports and supporting documentation primarily related to loans, debt, MBS, and non-MBS investments. Ensure the related reporting is accurate, timely, and based on internal and external reporting requirements. Research and resolve any discrepancies.
• Review drafts of the Banks' Forms 10-Q/10-K and provide timely corrections and comments.
• Reconcile and certify general ledger accounts in Workday Financials.
• Design and develop new reports 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.
• Identify opportunities to streamline, automate, or improve efficiencies within department processes. Support Bank upgrades or adoptions of new features for systems/applications that affect the department. Review application requirements and perform testing as needed.
• Collaborate with other departments to gain a working knowledge of operations affecting the Bank's portfolio accounting.
• Update procedures and internal controls documentation on a timely, accurate, and proactive basis.
• Assist with audit requests and compliance reviews.Provide ad hoc reporting, as needed.
• Cross-train within the team and with the Bank's derivatives and hedging team to provide secondary coverage.
• Provide guidance and advice to other departments in response to questions relating to accounting treatment or reporting of certain issues, as necessary.
• Review new products and transactions and provide accounting support, as needed, in collaboration with other stakeholders.
• Any additional accounting related tasks, as assigned by manager.

Skills/Knowledge:

• Bachelor's Degree in Accounting or related field. Strong working understanding of financial instruments, financial statements, and US GAAP.
• CPA designation is preferred.
• Minimum of seven-years experience in investments, derivatives and hedge accounting, including financial reports preparation. Direct experience with mortgage securities accounting is preferred.
• Advanced proficiency in Excel (e.g., pivot tables, Excel VBA, Power Query) with the ability to develop automation solutions.
• 2+ years of database querying experience. Proficient in Oracle SQL Developer queries and data analysis.
• Proficiency with Microsoft Access, Adobe, Workday Financials accounting or other accounting and financial applications is preferred, but not required.
• Proven analytical and critical thinking skills, including experience with variance analysis and reconciliations.
• Must have excellent interpersonal skills and a team mindset to accomplish reporting deliverables during the high-paced monthly and quarterly reporting cycles.
• Strong organizational capabilities, with proven expertise in managing multiple priorities. Initiative in anticipating and preparing for upcoming deadlines.
• Communicate effectively, both in written form and verbally.

SALARY RANGE: $140K - $155K

The Federal Home Loan Bank of San Francisco is committed to the principles of equal opportunity in employment (e.g., employees, applicants) and in contracting (e.g., suppliers, vendors) regardless of race, color, religion, sex, national origin, disability status, genetic information, age, sexual orientation, gender identity, status as a parent, or any other characteristic protected by law. We are committed to cultivating a workplace free of unlawful discrimination, harassment, and retaliation, and are dedicated to fostering vibrant communities by serving as a reliable source of liquidity and resources for affordable housing and economic development.

Salary ranges reflect the base salary that the Bank reasonably expects to pay for a given role and is not inclusive of annual incentive award opportunities, retirement benefits or the value of other health and welfare or other ancillary benefits. We consider many factors when determining base salaries such as individual background and experience, the competitive environment, education, particular skill set(s), and industry and institutional knowledge.

The Bank is committed to offering all team members challenging and engaging work with market competitive pay, retirement, and benefit offerings. In support of this commitment, the Bank routinely engages in market competitive benchmarking surveys and analysis to ensure our team members continue to be paid fairly and competitively.