Accounting Manager- Capital Markets/Broker-Dealer

U.S. Bank National Association • St. Louis, MO

8d • $111,605 - $131,300 • Hybrid

About The Position

The Accounting Manager will support the accounting, financial reporting, and control environment for a clearing capital markets broker dealer with a diverse fixed income and securities financing activities. This role will be responsible for managing accounting activities across a range of products and transaction types, including fixed income trading, fixed income underwriting, securities borrowing and lending, repurchase and reverse repurchase agreements, defeasance transactions, and VRDN remarketing activities. This position requires strong broker-dealer product knowledge, technical accounting expertise, operational understanding of trade lifecycle events, and the ability to work cross-functionally with front office, operations, treasury, product control, regulatory reporting, and external/internal audit teams. The Accounting Manager will play a key role in ensuring accurate financial reporting, a robust control framework, and operational readiness in a highly regulated environment.

Requirements

• Bachelor's degree in accounting or finance (preferred) or related field, or equivalent work experience
• Six or more years of accounting experience
• Strong knowledge of broker-dealer products and transaction flows, particularly fixed income and securities financing products
• Experience supporting month-end close, account reconciliations, control execution, and audit support
• Strong understanding of U.S. GAAP and internal control requirements in a regulated financial services environment
• Advanced Excel skills and experience working with large data sets and accounting/reporting systems
• Experience in a clearing broker-dealer
• Experience accounting for fixed income inventory, underwritings, repo/reverse repo, securities borrowing/lending, defeasance, and remarketing products
• Familiarity with broker-dealer regulatory reporting and legal entity considerations
• Experience working with front office, operations, and regulatory reporting teams in a bank-owned broker-dealer
• Strong technical accounting research and memo-writing skills
• Experience with process automation and systems enhancements

Nice To Haves

• Prior people management or demonstrated leadership experience
• Hold FINRA Series 27 or be able to pass testing within 4-month window (120 days)

Responsibilities

• Manage and oversee accounting support for Fixed Income Trading, Fixed Income Underwritings, Securities Borrowing and Lending, Repurchase and Reverse Repurchase Agreements, and Other Capital Markets Activities (Defeasance transactions, VRDN remarketing).
• Oversee daily, monthly, and quarterly accounting activities for capital markets and broker-dealer products, including trade date and settlement date accounting, accruals, valuations support, and balance sheet reconciliations.
• Review accounting treatment for trading inventory, underwriting positions, financing transactions, and related revenue/expense recognition.
• Ensure completeness and accuracy of accounting for trading gains/losses, underwriting fees and deal-related revenue, interest income and interest expense, borrow and loan fees, repo and reverse repo income/expense, and mark-to-market adjustments.
• Manage accounting close deliverables, journal entries, substantiations, and account reconciliations for assigned products and legal entities.
• Partner with operations and product control teams to understand end-to-end transaction flows and ensure accounting conclusions aligned with business activity and system processing.
• Support accounting analysis for complex transactions, new products, and non-routine events.
• Support internal and external financial reporting for the broker-dealer, including legal entity reporting and consolidation inputs.
• Maintain strong balance sheet and P&L controls over trading, underwriting, financing, and remarketing activities.
• Review account reconciliations, breaks, aged items, and exception reporting; drive timely remediation and escalation where needed.
• Ensure compliance with internal accounting policies, U.S. GAAP, and broker-dealer control standards.
• Assist in development and maintenance of accounting policies, process narratives, desktop procedures, and control documentation.
• Partner with regulatory reporting teams to support consistency between general ledger balances and broker-dealer regulatory reporting inputs.
• Work closely with Capital markets desk support teams, Operations/settlements, Treasury and liquidity teams, Product control/valuation control, Regulatory reporting, Internal audit, external audit, and compliance.
• Provide accounting support for business initiatives, systems implementations, process changes, and legal entity or product expansion efforts.
• Serve as a key accounting contact for control issues, process improvements, and audit/regulatory inquiries.
• Manage, coach, and develop accounting staff, including review of work product, prioritization of deliverables, and career development support.
• Identify and implement opportunities to improve accounting processes, strengthen controls, and reduce manual effort.
• Drive standardization and documentation across capital markets accounting processes.
• Support a culture of accountability, control discipline, continuous improvement, and effective partnership across finance and the business.

Benefits

• Healthcare (medical, dental, vision)
• Basic term and optional term life insurance
• Short-term and long-term disability
• Pregnancy disability and parental leave
• 401(k) and employer-funded retirement plan
• Paid vacation (from two to five weeks depending on salary grade and tenure)
• Up to 11 paid holiday opportunities
• Adoption assistance
• Sick and Safe Leave accruals of one hour for every 30 worked, up to 80 hours per calendar year unless otherwise provided by law

What This Job Offers

• Job Type: Full-time
• Career Level: Manager
• Education Level: Associate degree