Accounting Officer- Reg W
About The Position
Demonstrate an understanding of: 1) "covered" transactions under Regulation W, such as extending credit or purchasing assets, and 2) acceptable collateral from affiliates Demonstrate an understanding of market terms requirements under 23B of Reg W Actively review, prepare and analyze proposed transactions between the bank and its affiliates to identify potential violations of Regulation W limits and restrictions Calculate the aggregate amount of covered transactions with each affiliate to ensure compliance with the 10% and 20% exposure thresholds Identify and report attribution rule exposures under Reg W Monitor and report arms-length transactions under 23B of Reg W Prepare regular reports on affiliate transaction activity, including potential compliance issues, to senior management, the board of directors, and regulatory agencies Identify and assess potential Reg W risks associated with affiliate transactions Provide guidance to business lines on the interpretation of Regulation W limitations Provide auditors and bank examiners with assistance; gather necessary information and documents to support regulatory exams and audits Maintain knowledge of acceptable accounting practices and procedures Perform general related duties for the organization
Requirements
- Bachelor's degree in accounting, or related field
- 5+ years of similar experience with Regulation W
- Knowledge of general financial accounting and cost accounting
- Excellent organizational skills and attention to detail
- Ability to work well independently as well as part of a cohesive, agile team
- Strong communication and decision-making skills
Responsibilities
- Actively review, prepare and analyze proposed transactions between the bank and its affiliates to identify potential violations of Regulation W limits and restrictions
- Calculate the aggregate amount of covered transactions with each affiliate to ensure compliance with the 10% and 20% exposure thresholds
- Identify and report attribution rule exposures under Reg W
- Monitor and report arms-length transactions under 23B of Reg W
- Prepare regular reports on affiliate transaction activity, including potential compliance issues, to senior management, the board of directors, and regulatory agencies
- Identify and assess potential Reg W risks associated with affiliate transactions
- Provide guidance to business lines on the interpretation of Regulation W limitations
- Provide auditors and bank examiners with assistance; gather necessary information and documents to support regulatory exams and audits
- Maintain knowledge of acceptable accounting practices and procedures
- Perform general related duties for the organization
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What This Job Offers
Job Type
Full-time
Career Level
Mid Level
Number of Employees
5,001-10,000 employees
