Westbury, NY, United States - Corporate/Back-Office - Posted Nov 20, 2019
Requisition Number: 190000UA
An Accounting Policy Manager is responsible for the entire lease accounting function and other functions, as needed; supervises the data collection process; analyzes financial data; devises and ensures the implementation of internal controls; and performs a variety of accounting functions for Financial Administration.
Devises a process over the lease accounting function, including implementing internal controls and SOX compliance, learns the soon-to-be implemented lease accounting computer software, trains others on the software, works with the vendor, as necessary, and ensures that the calculations are accurate, completes and have hierarchy of authorization over the process. Supervises the installation of new lease accounting software and determine what reports should be produced for Senior Management. Spear-heads a project which establishes a process for determining whether leases are reasonably certain of being renewed; works with Senior Management and devises a system whereby Senior Management certifies when and if leases are reasonably certain of being renewed. Challenges the assumptions and assertions by Senior Management and develops checklists for their attestations that will stand up to internal audit, outside audit and regulators' review. Devises a process whereby NYCB is certain, within materiality limits, that all leases are captured in the embedded and implicit lease review on a quarterly or continuous review basis. Determines what materiality limits are appropriate and sets-up a process to ensure compliance with them. Works in conjunction with the CRES Lead Accountant, the head of the Corporate Fleet, head of the Corporate Support team to ensure accurate information is provided to the Accounting Policy Manager and trains them in the new processes. Plans and executes NYCB's conversion from the cash basis method to the straight-line method of accounting for rent expense. Develops a process that measures, back in time, the effect on NYCB's financial statements as if NYCB had always used the straight-line method. Works with Senior Management to adjust the estimates, as warranted. Documents assumptions used, why those assumptions are valid and supportable. Ensures compliance with ASC 842; prepare 10-K and 10-Q footnote disclosures and monitors the Financial Accounting Standards Board for changes in regulatory compliance with ASC 842. Provides the impact to changes, if any, to ASC 842 to the Director of Financial Reporting and the head of Regulatory Reporting. Ensures that both individuals properly address the SEC and regulatory ramifications of the standard and all changes to the standard. Devises internal controls and new reports that must be filled out by the CEO and Controller of NYCB's Specialty Finance business for leases; such reports support the 10-K and 10-Q footnote disclosures. Reviews the reports for compliance, reasonableness, accuracy and completeness. Trains the Senior Management of Specialty Finance regarding their reporting responsibilities on the new lease accounting standard. Reviews and signs-off on the Lease Accounting general ledger entries that are prepared by the CRES Lead Accountant. Devises a system that changes the old method of manually preparing the journal entries to the new system whereby system-generated journal entries are produced. Prepares the monthly reconciliations, and once the new computer system is live, reviews the monthly reconciliations, ensuring that all implicit leases included in the Lease Liability and Right-of-Use Asset. Trains the Financial Reporting staff on the requirements of ASC 842, monitoring and understanding how our peer banks comply with the new standard and any changes. Has an understanding of controls in accordance with the Sarbanes-Oxley rules and implement new controls over the lease accounting process. Devises a new process, including an attestation function whereby individuals in Financial Services and other BPOs provide the information and report the proper amounts for the quarterly Non-GAAP Measures spreadsheet. Prepares the quarterly Inventory of Current ASUs that are required to be implemented each quarter and ensures that future ASUs are communicated to the business and accounting units that are required to assist in implementing the new ASUs. Liaises with business and accounting units to train them in the new requirements, ensuring all new accounting standards are implemented timely with proper internal controls in place. Assists in the implementation of the new Current Expected Credit Losses (CECL) accounting standard. Ensures that NYCB is properly accounting for the new standard and ensure the accuracy of the footnote disclosures. Analyzes what NYCB's peer banks are reporting to ensure that NYCB remains competitive in our disclosures. Educates the Regulatory Reporting group on the CECL requirements. Performs Goodwill Impairment Analysis as needed. Performs due diligence on any potential acquisitions, as needed. Prepares documentation for new hedging relationship. Researches and analyzes hedges for compliance with ASC 815, Derivatives and Hedging. Keeps-up to date with the most current accounting rules and guideline, all ASU's, derivatives and hedging, etc. Performs reconciliations and analyses of various general ledger accounts. Assists in writing and the implementation of procedures enacted to assist staff and streamline accounting operations and processes. Performs special projects, and additional duties and responsibilities as required. Where applicable and when performing the responsibilities of the job, employees are accountable to maintain Sarbanes-Oxley compliance and adhere to internal control policies and procedures.
EDUCATION AND EXPERIENCE
Bachelor's degree in Accounting. A minimum of ten years of experience in financial accounting.
KNOWLEDGE, SKILLS AND ABILITIES
Knowledge of Accounting Systems and Operations, Generally Accepted Accounting Principles, and Financial Reporting. Knowledge and understanding of controls in accordance with the Sarbanes-Oxley rules and ability to implement new controls over the lease accounting process. Computer proficient, particularly Excel and Accounting software, Access and Monarch a plus. Strong math and analytical skills. Ability to read, interpret, summarize, and apply accounting standards. Ability to reprioritize workload. Clear written/verbal and interpersonal communication skills.
ABOUT NEW YORK COMMUNITY BANK.
Based in Westbury, NY, New York Community Bank is a New York State-chartered savings bank serving customers throughout Metro New York, New Jersey, Ohio, Arizona and Florida. At September 30, 2018, the Company had assets of $51.2 billion, deposits of $30.3 billion, and stockholder's equity of $6.8 billion.
New York Community Bank serves customers through over 250 branches featuring a divisional structure: Queens County Savings Bank, Roslyn Savings Bank, Richmond County Savings Bank, Roosevelt Savings Bank and Atlantic Bank in New York; Garden State Community Bank in New Jersey; Ohio Savings Bank in Ohio; and AmTrust Bank in Florida and Arizona. With a longstanding reputation of strength, stability and service, NYCB is proud to be committed to the communities it serves. To learn more about the NYCB Family of Banks visit us at www.MyNYCB.com .
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NYCB is an equal opportunity employer that prohibits discrimination in hiring or terms and conditions of employment on the basis of race, color, age, sex, national origin, ethnicity, religion, marital status, disability, military status, veteran status, domestic violence victim status, gender identity or expression, sexual orientation, genetic information or any other classification protected by the federal, state, and local laws and ordinances.
This policy is applicable to all terms and conditions of employment including, but not limited to: recruitment and selection, promotion and demotion, transfer, training and development, compensation, benefits, leaves of absence and termination. When necessary, NYCB will reasonably accommodate employees and applicants with disabilities or with religious requirements necessitating accommodation.
In addition, NYCB complies with all applicable laws which govern nondiscrimination in employment in every location in which NYCB does business.