Company

Federal Reserve Bank of Philadelphia

The Federal Reserve Bank of Philadelphia is one of the 12 regional Reserve Banks that, together with the Board of Governors in Washington, D.C., make up the Federal Reserve System. It helps formulate and implement monetary policy, supervises banks and bank and savings and loan holding companies, and provides financial services to depository institutions and the federal government. The Federal Reserve Bank of Philadelphia serves eastern and central Pennsylvania, southern New Jersey, and Delaware.

Job Summary:
Reporting to the Senior Accounting Manager, you will be accountable for the preparation and accuracy of annual financial statements and footnotes for publication in the annual report, supporting information for the CFO’s presentation of financial information to the audit committee, monthly financial reports and supporting schedules. including all aspects of benefit accounting. You will perform accounting research on complex accounting topics to recommend accounting treatment recognition drawing on knowledge of Generally Accepted Accounting Principles (GAAP) and the Financial Accounting Manual for Federal Reserve Banks (FAM). You will work with the external auditor on the year-end audit. You will assist, review, and may oversee work of other accountants (financial, cost accounting, payroll, benefits, tenant/lease, asset management and capital projects). You will conduct accounting education for departmental contacts throughout the Bank. You will support internal control over financial reporting compliance activities and compliance with the Bank's financial control program. You will ensure that Bank management has proper understanding of and is acting in compliance with FAM and the Bank’s Financial Control Manual. You will work independently, at the most senior skill level.

What You Will Do:

Prepare year-end financial statements and footnotes and monthly financial reports. Prepare supporting information for the CFO’s presentation of financial information to the audit committee. Collaborate with public accountants, Board of Governors (BOG) Examiners, U.S. Government Accountability Office (GAO) and other outside accounting groups for financial reporting reviews.

Prepare detailed analysis and accounting entries to support benefit accounting following FAS 112, FAS 106, the Supplementary Executive Retirement Plan (SERP), and the Benefit Equalization Plan (BEP). Be a liaison with the Office of Employee Benefits (OEB) and the Board of Governors on all benefit accounting topics. Prepare detailed analysis and accounting entries to support the proper accounting for severance, retention, and compensated absences.

Assist, reviews, and may oversee work of other accountants (financial, cost, payroll, benefits, tenant/lease, asset, management, and capital projects. Conduct research and provide analyses.

Be an expert for interpretation of GAAP, the Financial Accounting Manual for Federal Reserve Banks (FAM), and other accounting regulations; documents result and presents recommendations. Recommend changes to FAM and recommend and lead the implementation of changes in the Bank’s Financial Control Manual. Help create System accounting rules and interpretations.

Oversee the monitoring of the Bank's compliance with FAM, the Bank’s Financial Control Manual, and other regulations; consult with other departments. Lead, direct and participates in the coordination of internal control reviews for both the department and the Bank; perform departmental and ad hoc self-audits and is responsible for departmental adherence to information security standards.

Conduct accounting educational sessions for departmental contacts throughout the Bank. Help with the planning, design, and implementation of systems and trains staff in their use.

Provide backup support to the Manager of the General Ledger function, Accounts Payable and Payroll function.

Serve on System groups and BOG workgroups. Fulfill job responsibilities in conformance with sound safety practices.

What You Have:

Knowledge and Skills:

Knowledge of Workday, Workiva and Ariba preferred.
Excellent written and oral communication skills.
Strong PC skills, using automation equipment and all related software.
Strong analytical and mathematical skills.
Strong presentation skills.
Strong interpersonal skill to work with all levels of management.
Excellent project management skills and ability to lead others.

Education and Experience:

Bachelor’s degree in accounting/finance.
Minimum of five years of similar financial work experience required.
Certified Public Accountant certification required.

The salary grade for this position is: 14. Final salary and offer will be determined by the applicant’s background, experience, and skills, and internal equity and alignment with market data.

We offer a great benefits package that features:

Medical (4 options), Prescription, Dental (3 options), and Vision Insurance with no waiting period
401k/Thrift Plan with generous employer match
Employer-funded Pension Plan
Paid Vacation/Sick Time & Holidays
Monthly $100 Commuter Allowance
Flexible Spending Accounts and Healthcare Spending Accounts
Flexible Work Schedule available in most departments
Life Insurance and Long Term Disability Insurance
Tuition Reimbursement (undergraduate and graduate)
Parental Leave
Free onsite 24/7 Fitness Center including training classes, Peloton bikes and locker room / shower facilities
Onsite Cafeteria & Coffee Shop
Additional Convenience Benefits, Discounts and More…

Additional Information:

The Federal Reserve Bank of Philadelphia takes your information privacy seriously. Federal Reserve Bank of Philadelphia staff will only email you from the “@phil.frb.org” domain or through the Workday system “rb@myworkday.com”. If you are initially contacted by phone, feel free to request that the caller provide you with their email address to validate their identity. If you have any questions about the validity of someone who contacts you regarding this position, please email the Talent Acquisition team at TalentAcquisition@phil.frb.org.
The Federal Reserve Bank of Philadelphia believes that diversity, equity and inclusion among our employees is essential to our success as an organization, and we want to recruit, develop and retain the most accomplished people from a diverse candidate pool. To support a workplace culture of belonging, we offer nine employee resource groups (ERGs) and a 100 percent rating on the Human Rights Campaign (HRC) Corporate Equality Index. The Federal Reserve Bank of Philadelphia is proud to be an equal opportunity workplace.
We have nine employee resource groups (ERGs) to support a diverse workforce. Abilities (supporting disabilities and allies), African Heritage, Asian-Pacific, Freedom (supporting LQBTQ+ and allies), Talent Forward (supporting career growth), Women United, Latin and Hispanic Heritage, Working Families and Veterans. ERGs are open to all employees.
We will ensure that individuals with disabilities are provided reasonable accommodations to participate in the job application or interview process, to perform essential job responsibilities, and to receive other benefits and privileges of employment. If you need assistance or an accommodation due to a disability, please email us at TalentAcquisition@phil.frb.org.
All Federal Reserve Bank of Philadelphia employees must comply with the Bank's ethics rules, which generally prohibit employees, their spouses/domestic partners, and minor children from owning securities, such as stock, of banks or savings associations or their affiliates, such as bank holding companies and savings and loan holding companies. If you or your spouse/domestic partner or minor child own such securities and would not be willing or able to divest them if you accepted an offer of Bank employment, you should raise this issue with the Recruiter for this posting, who can provide you contact information for our ethics officer if necessary. You should review the Bank's Employee Code of Conduct to ensure compliance with conflict of interest rules and personal investment restrictions.
Background investigations and drug testing are required for all new hires as a condition of employment, after the job offer is made. Candidates for positions deemed as "safety sensitive" will also be screened for the presence of marijuana. Employment may not begin until the Bank accepts the results of the background investigation.
All employees will be subject to FBI fingerprint / criminal background and Patriot Act/ Office of Foreign Assets Control (OFAC) watch list checks at least once every five years.
Certain eligibility rules apply. You will provide work authorization to prove your eligibility to work in the United States.
The above statements are intended to describe the general nature, level of work and the requirements of this position. They are not intended to be an exhaustive list of all responsibilities associated with this position or the personnel so classified. While this job description is intended to be an accurate reflection of this position, management reserves the right to revise this or any job description at its discretion at any time.
This is NOT a 100% remote opportunity. You will be available to work on-site in at least a hybrid capacity.
Learn more about the Philly Fed and its culture. Learn more about working for the Philly Fed.

Full Time / Part Time

Full time

Regular / Temporary

Regular

Job Exempt (Yes / No)

Yes

Job Category

Accounting/Finance Family Group

Work Shift

First (United States of America)

The Federal Reserve Banks believe that diversity and inclusion among our employees is critical to our success as an organization, and we seek to recruit, develop and retain the most talented people from a diverse candidate pool. The Federal Reserve Banks are committed to equal employment opportunity for employees and job applicants in compliance with applicable law and to an environment where employees are valued for their differences.

Always verify and apply to jobs on Federal Reserve System Careers (https://rb.wd5.myworkdayjobs.com/FRS) or through verified Federal Reserve Bank social media channels.

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