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Federal Home Loan Bank of Boston · 2 weeks ago

AVP, Accounting Policy & SOX Compliance Manager

Boston, MA

Full-time

Hybrid

Mid, Senior Level

$119K/yr - $182K/yr

7+ years exp

The Federal Home Loan Bank of Boston is a leading provider of wholesale funding for housing and community finance in New England. The AVP, Accounting Policy and SOX Compliance Manager oversees the development and implementation of accounting policies and SOX compliance activities, managing a team and ensuring adherence to regulations and standards.

BankingCommunitiesFinancial ServicesMortgageReal Estate

Hiring Manager

Scott Barker

Responsibilities

Develop and maintain accounting policies for the Bank which are consistent with GAAP and SEC requirements

Evaluate new GAAP and SEC requirements as issued to determine the impact on the Bank and develop or modify the Bank’s accounting policies as necessary

Monitor the Bank’s ongoing compliance with its accounting policies and disclosure requirements

Manage the update process for the Accounting Control department’s Policies and Procedures manual

Communicate accounting policies throughout the organization as necessary

Continuously improve the SOX processes to comply with the Sarbanes-Oxley Act by maintaining an understanding of SOX requirements, COSO and PCAOB standards, guidelines, new developments and trends. Develop, implement, and administer SOX policies and procedures for the Bank

Evaluate any identified accounting errors or internal control deficiencies and conclude on the severity and materiality of the deficiency. Oversee remediation activities for control deficiencies

Develop and maintain the Bank’s disclosure controls and procedures, consistent with the requirements of Sarbanes-Oxley, and ensure that the disclosure procedures are properly documented, communicated, implemented and enforced

Prepare a disclosure checklist in conjunction with the preparation of the annual and quarterly financial reports to ensure that the financial statements, footnotes and disclosures of the Bank are complete and consistent with applicable requirements

Research and document technical accounting inquiries and issues as needed and present findings and recommendations

When the Bank undertakes any new or modified business activity, prepare a written analysis of the accounting and/or disclosure treatment for the activity, citing relevant standards, pronouncements, and regulations

Monitor changes and developments in accounting requirements by the Financial Accounting Standards Board (FASB) and the SEC. Provide periodic updates to management and others throughout the Bank

Provide training and education to Bank staff on relevant new accounting guidance and on emerging accounting developments undertaken by the FASB and the SEC

Participate in FHLBank System-wide subcommittees related to accounting policy or SOX compliance matters that are relevant to the Bank and participate in drafting of comment letters to relevant accounting standards setters

Monitor significant Bank Technology projects to track capital expenditures and provide guidance to appropriately allocate project costs between capital expenditure and operating expense in accordance with GAAP and the Bank’s fixed assets policy

Assist the SVP, Controller and Chief Accounting Officer with accounting and oversight functions, including the ability to perform back-up and review functions for other areas within the Accounting department

Analyze processes within the Accounting department and identify opportunities for process improvement through automation and IT-system feature adoption; develop and implement solutions

Foundational people management activities to ensure top talent, including selection, training and development, motivation, and evaluation of staff

Other duties, as assigned

Qualification

GAAPSEC reportingSOX complianceAccounting policiesPeople managementProcess improvementTechnical accountingAnalytical skillsTechnology adoptionBachelor's degreeCPA designationCommunication skillsProblem-solving skills

Required

7-10 years of broad-based accounting experience, preferably with a mix of public accounting and corporate accounting experience. Specific emphasis on SEC reporting required

Current or prior people management experience is expected

Thorough knowledge of GAAP with an emphasis on accounting for financial instruments, as well as SEC reporting requirements

Understanding of and practical experience with Section 404 of the Sarbanes-Oxley Act

Demonstrated ability to influence change and with process improvement

Demonstrated knowledge of applying or maximizing technology in regards to the role responsibilities

Strong analytical and problem-solving skills

Excellent oral and written communication skills

Ability to perform this role independently

Bachelors degree in Accounting required

Certified Public Accountant (CPA) designation required