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Mechanics Bank · 1 month ago

Head of Accounting Policy

Walnut Creek, California

Full-time

Onsite

Director/Executive

$160K/yr - $220K/yr

10+ years exp

Mechanics Bank is currently searching for a Head of Accounting Policy. This critical role is responsible for establishing, maintaining, and communicating the bank’s accounting policies in accordance with regulatory guidance and industry best practices, while serving as the bank’s internal technical accounting expert.

BankingFinancial ServicesWealth Management

Responsibilities

Lead the development, implementation, and governance of the bank’s accounting policies in alignment with regulatory expectations and industry standards

Prepare and maintain technical accounting memos, including complex assessments related to CECL, fair value, leases, consolidations, and other specialized banking functions

Serve as the bank’s subject matter expert on CECL, providing guidance on methodology, assumptions, modeling documentation, disclosures, and ongoing monitoring

Document account positions for new or unusual transactions, business initiatives, product launches, or corporate actions

Collaborate with Credit and Risk teams to ensure appropriate CECL application, governance, and documentation

Own all CECL technical documentation, including rationale for key assumptions, model changes, overlays, qualitative factors, and model validation findings

Review CECL results, ensuring consistency with accounting standards and regulatory expectations

Partner with internal and external auditors to support CECL audit readiness and respond to requests

Advise executive management on new accounting standards, emerging guidance, and industry developments

Evaluate the financial reporting implications of new products, contract structures, and strategic initiatives

Support the SEC Reporting team on complex disclosures, footnotes, and regulatory findings (10-K, 10-Q)

Monitor FASB, SEC, and banking regulatory developments; assess the impact to the bank and lead any necessary implementation efforts

Maintain a repository of accounting policies and technical memos, ensuring accuracy and audit-readiness

Strengthen internal controls for accounting policy and documentation and technical accounting conclusions

Qualification

CPAU.S. GAAPCECLTechnical AccountingSEC ReportingFinancial AcumenDecision QualityLeadership Experience

Required

CPA required

10 years of relevant experience in technical accounting, accounting policy, public accounting, or SEC reporting required. Ideally within financial services or banking

5 years of leadership experience required

Deep and current knowledge of U.S. GAAP, CECL, financial instruments, and SEC reporting requirements

Prior experience drafting technical accounting memos and interpreting complex accounting standards

Experience working closely with CECL modeling teams or credit risk teams

Optimizes Work Process - Knowing the most effective and efficient processes to get things done, with a focus on continuous improvement

Financial Acumen - Interpreting and applying understanding of key financial indicators to make better business decisions

Decision Quality - Making good and timely decisions that keep the organization moving forward

Travel required: 0-10%

Preferred

Bachelor's Degree in Business, Finance, Accounting or related field preferred

Benefits

Medical, prescription, dental, and vision coverage for employees and their eligible family members

Employer paid Employee Assistance Program, Life Insurance, AD&D, and Disability benefits

Health Savings Account with employer contribution

Healthcare and Dependent Care Flexible Spending Accounts and Commuter/Parking Benefit

401(k) and Roth 401(k) with company contribution

529 Education Savings plan, Tuition Reimbursement Program and Student Loan Assistance Program

Supplemental Health plans, Voluntary Legal and Identity Theft Services

11 paid holidays, paid Sick days (accrual of one hour for every 30 hours worked), up to 25 paid vacation days, and 16 hours of paid volunteer time throughout the calendar year

Free personal checking and savings account; Discounted rates on primary residence loan with $0 origination fees (restrictions apply)