Main Street Accounting Operations Analyst

| Boston, MA | Hybrid
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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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Technology we use

  • Engineering
    • JavaLanguages
    • JavascriptLanguages
    • PythonLanguages
    • ReactLibraries
    • TerraformLibraries
    • RsocketLibraries
    • RDSLibraries
    • SpringFrameworks
    • NoSQLDatabases
    • aerospikeDatabases

What are Federal Reserve Bank of Boston Perks + Benefits

Federal Reserve Bank of Boston Benefits Overview

The Boston Fed has very comprehensive compensation and benefits offerings, allowing us to focus on work-life balance while supporting the Bank’s primary focus - Public Service That Makes a Difference®.

In addition to great healthcare, dental, prescription, and vision coverage, the Boston Fed offers a comprehensive Employee Assistance Program (EAP), health and dependent care flexible spending accounts. These benefits are available to employees, their qualified families, and domestic partners. The Boston Fed also has an onsite, state-of-the-art fitness facility, offers season flu shots, and wellness screenings.

Culture
Volunteer in local community
The Boston Fed participates in local volunteer activities and provides each employee with two paid volunteer days.
Partners with nonprofits
Through the work of our Employee Resource Groups (ERG's) and other departments within the Boston Fed, we partner with local Non Profits as a way to give back to the communities where we live and work.
Open door policy
OKR operational model
Team based strategic planning
Pair programming
Open office floor plan
Flexible work schedule
We believe a hybrid remote/in-office arrangement is part of the future of work at the Boston Fed, which will ultimately offer more flexibility.
Remote work program
Remote work options include: • Office-based • Hybrid/scheduled • Hybrid/ad hoc • Primarily remote
Diversity
Dedicated diversity and inclusion staff
Highly diverse management team
Mandated unconscious bias training
Diversity manifesto
Diversity employee resource groups
The Boston Fed offers employees the chance to participate in employee resource groups (ERGs) and affinity groups with a specific interest. ERGs and affinity groups are a valuable component of the Bank
Hiring practices that promote diversity
We believe in the strength that comes from diverse perspectives, ideas, and approaches to solving important business problems. Our organization embraces diverse employees, constituents, and community
Health Insurance & Wellness Benefits
Flexible Spending Account (FSA)
Disability insurance
Dental insurance
Vision insurance
Health insurance
Life insurance
Wellness programs
Team workouts
Mental health benefits
Financial & Retirement
401(K)
401(K) matching
Performance bonus
Child Care & Parental Leave Benefits
Childcare benefits
Federal Reserve Bank of Boston provides backup child care assistance, including tutoring, in-home childcare and virtual child care assistance.
Generous parental leave
Family medical leave
Adoption Assistance
The Bank provides up to $5,000 in reimbursement associated with the cost of adopting a child.
Restricted work hours
Return-to-work program post parental leave
Company sponsored family events
The Fed Society plans family oriented events a few times throughout the year.
Vacation & Time Off Benefits
Generous PTO
Paid volunteer time
The Federal Reserve Bank of Boston encourages employees to give back with paid volunteer time up to 16 hours a year.
Paid holidays
Paid sick days
Office Perks
Commuter benefits
The Federal Reserve Bank of Boston offers pre-tax commuter benefits for all employees through Wage Works, including a $90 subsidy toward your transit monthly passes.
Company-sponsored outings
Recreational clubs
Fitness stipend
The Bank offers a free on-site fitness center, including classes and open 24 hours a day.
Onsite gym
Professional Development Benefits
Job training & conferences
The Boston Fed offers employees professional development opportunities like onsite training courses and the ability to attend job related conferences and seminars.
Tuition reimbursement
Lunch and learns
Promote from within
Mentorship program
Continuing education stipend
Online course subscriptions available
Customized development tracks
Paid industry certifications

Additional Perks + Benefits

At a time when many organizations no longer offer a traditional pension plan, the Federal Reserve’s Retirement Plan is recognized for the value it provides in helping secure employees’ financial future during their retirement years. Fed employees are automatically enrolled in our pension plan.

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