The Federal Home Loan Bank of Boston is a leading provider of wholesale funding for housing and community finance in New England serving approximately 430 financial institutions across the region. The Federal Home Loan Bank of Boston is committed to making New England a better place to live and do business, and our employees are integral to our success. As a cooperative, we are owned by approximately 430 banks, credit unions, insurance companies, and community development financial institutions that access tens of billions of dollars of our reliable, wholesale funding each year. Our funds are a vital resource that helps our members succeed, provide families with safe, decent affordable housing, and generate economic development that creates jobs in communities throughout our region.
Our highly skilled team of 200 is diverse, innovative, collaborative, and passionate about the work we do. We seek other professionals excited to share their knowledge, talent, and passion for our mission to join our team. We offer opportunities for career development, robust benefits, and a work-life balance.
Under the direction and supervision of the VP/Assistant Controller, this role is responsible for maintaining the financial records of the Bank so that they are presented fairly and accurately in accordance with generally accepted accounting principles and Federal Housing Finance Agency standards. This role is also responsible for the day-to-day supervision of two staff accountants performing a variety of general accounting processes, including payroll, and will assist the SVP/Controller and Chief Accounting Officer and VP/Assistant Controller with the coordination of the annual planning and budget process. This role will manage the general ledger system, including transaction processing and chart of accounts maintenance. Additionally, along with the Accountant II, this role will coordinate with the Human Resources department on payroll related matters.
This role will have a hybrid work schedule in our Boston office in accordance with the Bank’s Hybrid Work Program
Oversee the preparation of the monthly Statement of Condition, Statement of Income, and Performance Package.
Review month-end journal entries and accruals prepared by the staff Accountants in the General Accounting group.
Analyze general ledger accounts for reasonableness and conformity with appropriate subsidiary ledgers or supporting schedules. Supervise the staff accountants' analysis and reconciliation of accounts.
Coordinate the preparation of the Bank’s monthly and quarterly submissions to the Federal Housing Finance Agency through the Call Reporting System.
Ensure the accuracy and integrity of the fixed asset accounting records.
Ensure that all financial reports produced for internal use from the Bank's accounting records are reasonable and accurate.
Regularly review and update policies and procedures related to the general accounting group. Periodically evaluate current general and financial accounting practices and procedures for efficiency, effectiveness, and accuracy and discuss procedure deficiencies with the VP/Assistant Controller. On a quarterly basis, review and ensure the accuracy of all applicable SOX narratives.
Manage the general ledger system, including coordination of the monthly closing process, chart of accounts maintenance and business process workflow effectiveness.
Review and approve general ledger account reconciliations prepared by the staff accountants to ensure the integrity of the general ledger system.
Oversee bi-weekly payroll processing, review and verify the accuracy and integrity of payroll processing, including review of payroll changes and updates to each payroll transmission.
Assist the VP/Assistant Controller, as needed to ensure the proper handling of payroll matters, including tax withholding and taxable fringe benefits. Perform research on payroll tax matters as directed to ensure compliance with applicable IRS and state laws and regulations and ensure accurate payroll tax returns are prepared and filed in a timely manner by the payroll service provider.
Review the calculation of taxable fringe benefits to be processed through payroll and prepare correspondence to employees as it relates to taxable fringe benefits.
Coordinate the preparation and distribution of monthly and quarterly budget variance and trend reports. Review reports for reasonableness and accuracy, and analyze budget variances, including working with responsibility center managers to obtain variance explanations.
Under the direct supervision of the VP/Assistant Controller prepare the initial draft of the quarterly operating expense variance analysis memo and capital expenditures memo for management and the Board of Directors.
Assist the VP/Assistant Controller with the quarterly forecast process and the annual budgeting process, including reviewing submissions received from responsibility center managers. Critically analyze forecasts and budgets to ensure they are reasonable and complete, and supported by valid assumptions.
Select, train, motivate, and evaluate staff.
Perform other functions within Accounting Control as needed and directed. Undertake special projects assigned by the SVP/Controller and Chief Accounting Officer or VP/Assistant Controller.
Actively supports the Bank’s strategy to leverage Diversity and Inclusion as a long-term strategic priority.
Other duties, as assigned.
Strong hands-on data skills and PC experience required, including spreadsheet applications.
Experience using Workday is strongly preferred.
Thorough knowledge of GAAP.
Strong organizational, analytical and problem-solving skills.
Good communication skills.
Ability to work well independently.
“Hands on” individual with strong teamwork orientation.
Ability to coordinate multiple tasks simultaneously, with excellent time management skills
Bachelor’s degree with a major in Accounting
Professional certification (e.g. CFA or CPA), or MBA a plus.
3 to 5 years experience in banking or other financial services accounting functions, to include experience in managing the following activities:
General ledger and sub-ledger processing
Budgeting/Forecasting of operating expenses
One to two years of prior supervisory experience is strongly preferred.
The Federal Home Loan Bank of Boston is committed to building and sustaining a diverse workforce that reflects the communities that we serve. As an Equal Opportunity Employer, we strongly encourage applicants from every ethnicity, color, religion, gender, age, national origin, disability, veteran or parental status and sexual orientation.
Nothing in this job description restricts management's right to assign or reassign duties/ responsibilities to this job at any time.
A diverse talent pool is important to our business needs.
Applications are being accepted on the Careers page of our website: www.fhlbboston.com
The Federal Home Loan Bank of Boston is committed to making New England a better place to live and do business, and our employees are integral to our success. As a cooperative, we are owned by more than 420 banks, credit unions, insurance companies, and community development financial institutions that access tens of billions of dollars of our reliable, wholesale funding each year. Our funds are a vital resource that help our members succeed, provide families with safe, decent affordable housing, and generate economic development that creates jobs in communities throughout our region.
Our highly skilled team of 200 is diverse, innovative, collaborative, and passionate about the work we do. We seek other professionals excited to share their knowledge, talent, and passion for our mission to join our team. We offer opportunities for career development, comprehensive wellness benefits, and a work-life balance