Accountant II MBS recruitment
Position Summary
The Accountant is responsible for maintaining the Mortgage Backed securities investment accounting subsidiary systems of the Bank. The Accountant II supports the Senior Asset/Liability (A/L) Accounting Manager in maintaining accurate and reliable accounting records and preparing accurate and timely financial reports.
Specific Responsibilities
Investment Accounting Duties:
- Maintains all Mortgage Backed Securities (MBS) and Collateralized Mortgage Obligations (CMO’s) investment accounting activity including purchases, sales and maturities on the bank’s automated subsidiary ledger, The Portfolio Genius (TPG).
- Extracts Bloomberg data for factors, floating rates and projected cash flows and uploads this data into TPG. Analyze resulting MBS and CMO securities book value based on NPV (Net Present Value) concept.
- Prepares all related general ledger journal entries.
- Responsible for recording to the general ledger, all safekeeping cash settlement activity at Citibank and Federal Reserve Bank accounts for MBS transactions.
- Responsible for daily and monthly reconciliation for all investment balance sheet and income statement accounts including par, amortized cost, carrying value, premium/discount, accretions/amortizations, and interest income.
- Researches payment differences for all MBS/CMO securities.
- Ensures that projected cash flows obtained from Bloomberg monthly, and used in amortization/accretion for CMO MBS holding types in the portfolio are complete.
- Updates and maintains schedule and discounting methodology calculations used in the accounting for Other Than Temporary Impaired (OTTI) securities. Records market pricing data supplied by internal department for SFAS 115 Trading and Available for Sale portfolios as well as SFAS 133 hedge accounting.
- Records accruals and reconciles Par, Book, Interest Receivable, and Income data for Standby Bond Purchase agreements.
Other Duties:
- Verifies activity recorded to the subsidiary ledger by Treasury staff consisting of all money market securities and processes all non-MBS databases in the absence of the Accountant II – Non MBS Investments.
- Prepares Investment related schedules as part of the annual financial statement preparation.
- Analysis of various general ledger accounts and reconciliation of subsidiary ledgers in conjunction with the month-end close process.
- Assist the Senior A/L Accounting Manager with analysis of portfolio trends and implementation of system upgrades. Prepares accounting analysis and reports as needed.
- Perform other duties and special projects assigned by the Senior A/L Accounting Manager or AVP/Manager of Financial Investments Accounting.
Qualifications:
Knowledge/Skills
- Substantial experience with investment portfolio accounting.
- Specific knowledge of fixed income securities, including mortgage backed securities.
- Strong Background in Financial Management principles, including PV (Present Value) concept.
- Excellent communication skills.
- Computer skills including, Windows, Excel, Bloomberg.
- Ability to pay strong attention to details.
Education
- Bachelor degree with major in Accounting or Finance.
Experience
- Minimum of 4 (four) years of relevant accounting experience
Federal Home Loan Bank of Boston is an Equal Opportunity Employer
July 30, 2012
• Tags: Accountant II MBS recruitment, Accounting & Finance careers in the USA • Posted in: Financial