Main Street Accounting Operations Analyst
Company
Federal Reserve Bank of Boston
The Federal Reserve Bank of Boston (FRBB) is administering special lending facilities to support lending to small and medium-sized businesses due to exigent circumstances caused by the COVID-19 pandemic.
This position is responsible for conducting lender outreach and remittance and accrual reconciliation related to the existing loan portfolio. Additionally, provide support for Main Street Finance & Accounting team for invoice processing, interest and principal proceeds analysis, and reporting compliance. This position requires standard knowledge of general accounting and reconciliation practices and finance and financial strategies and operations. This position relies on professional experience and judgment to plan and accomplish goals. A requirement of this position is that the employee must be fully vaccinated against COVID-19 or qualify for an accommodation from the Bank's vaccination policy; individuals who are unable to be vaccinated due to a medical condition or sincerely held religious belief may request an accommodation from the Bank
Principal Accountabilities
Conducts complex financial reconciliation on a variety of topics with minimal guidance. Prepares reconciliation explanations and proposed solutions for the remittance and accounting records of the Main Street Lending Program.
Participates in the review of Main Street Lending Program monthly payments. Provides consultative and analytical support for assigned areas. Summarizes key issues and collaborates with business areas and/or lenders to resolve them. Drafts sections of periodic reporting for management, Board of Governors, and Board of Directors, as required.
Prepares financial and business analyses and research in such areas as remittance activity, delinquent payments, loan amortization and impairment.
Reviews financial data to ensure alignment with lender information.
Participates in the monthly processing of actual expenses. Following procedures outlining financial controls, ensures appropriate documentation and assesses accuracy of data.
Analyzes and reports on historical and projected portfolio activity trends. Drafts portfolio activity narratives for management and Board of Directors.
Provides functional and operational support across Main Street Lending Program team outside of Finance & Accounting core team.
Other Accountabilities
Perform other duties as assigned.
Supervision
This position is not required to directly supervise others.
Knowledge and Experience
Knowledge and experience normally acquired through, or equivalent to, the completion of a Bachelor's degree in accounting, finance, economics, or a related field and a minimum of 3 years of job-related experience.
- Excellent written and oral communications.
- Strong quantitative and qualitative analytical skills.
- Effective interpersonal and team building skills.
- Advanced knowledge in financial accounting and reconciliation.
- Ability to work toward resolution of reconciling items independently
Full Time / Part Time
Full time
Regular / Temporary
Regular
Job Exempt (Yes / No)
Yes
Job Category
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.
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