Accounting Associate, Benefits Accounting (Newark, New Jersey) Accounting Associate, Benefits Accounting (Newark,  …

Federal Reserve Bank of New York
in Newark, NJ, United States
Permanent, Full time
Be the first to apply
Federal Reserve Bank of New York
in Newark, NJ, United States
Permanent, Full time
Be the first to apply
Accounting Associate, Benefits Accounting (Newark, New Jersey)
Federal Reserve Bank of New York

W orking at the Federal Reserve Bank of New York positions you at the center of the financial world with a unique perspective on national and international markets and economies. You will work in an environment with a diverse group of talented professionals to foster and support the safety, soundness, and vitality of our economic and financial systems. It is a challenge that demands the skills of a financial service professional and the intellectual curiosity of an academic—all combined with a passion for public service.

Overview of Team/Function:

The Office of Employee Benefits (OEB) is a critical part of the Federal Reserve System with responsibility for the strategy, design, vendor management and administration of the Federal Reserve’s benefits plans serving employees and retirees nationwide. This position is conveniently located at 1 Riverfront Plaza, Newark, New Jersey directly across from public transportation and access to parking.

As an Accounting Associate, you will support most aspects of financial planning, reporting, and analysis including financial statement preparation. You will assist with the daily operations of budget, forecast, and expense processing and support the development and reporting of the OEB's annual operating and capital budgets/forecasts and monthly reporting and analysis of the OEB's results. Further, you will support and maintain nationally managed applications, and design, develop, and maintain local automated systems and databases.

One of your main roles for this position will be the development of processes for Federal Reserve System-level entries processed by OEB (both Finance and Budget/Accounts Payable) and the second-level review of entries initiated by other accountants.

Roles and Responsibilities:
  • Support OEB business areas to help them meet financial objectives. Interpret and comply with accounting standards as they apply to OEB and the Plans
  • Prepare and input journal entries into the general ledger and performing secondary review of journal entries prepared by others
  • Prepare financial reports and financial statements, including performing ongoing analyses of accounts and various reconciliations
  • Provide accounting expertise and advice to support the goals of the department, OEB and the Federal Reserve System
  • Monitor and perform internal control processes, including Sarbanes Oxley processes. Suggest changes, to improve operational effectiveness and promote accomplishment of goals; and
  • Conduct research, provide information, and prepare formal reports and recommendations for multiple levels of audiences

You Have:
  • Bachelor's degree in Accounting or Finance, while a Masters degree in accounting, business, finance or a CPA is a plus
  • Five to seven years of business experience in accounting or finance
  • Experience maintaining general ledgers, preparing financial statements; and performing different types of reconciliations and divisional proofs
  • Benefits accounting (retirement plan, 401k plan, health and welfare, etc.) auditing experience is a plus
  • Excellent analytical skills, strict attention to detail, and ability to drive results in a team environment
  • Relationship management skills and the ability to work across multiple business functions; and
  • Background creating complex spreadsheets utilizing Excel, experience with Workday financials is a plus

Our Benefits:

Our organization offers benefits that are the best fit for you at every stage of your career:
  • Pension plan fully paid by the Federal Reserve Bank
  • 401K plan with generous match
  • Comprehensive insurance plans (Medical, Dental and Vision including Flexible Spending Accounts and HSA)
  • Commutation assistance
  • Tuition reimbursement program
  • Onsite Wellness & Fitness Center
  • Backup Dependent Care (Child & Adult)
  • And more…

The Federal Reserve Bank of New York is committed to a diverse workforce and to providing equal employment opportunity to all persons without regard to race, color, religion, national origin, sex, sexual orientation, gender identity, age, genetic information, disability, or military service.