Company
Federal Reserve Bank of PhiladelphiaThe Federal Reserve Bank of Philadelphia is one of the 12 regional Reserve Banks that, together with the Board of Governors in Washington, D.C., make up the Federal Reserve System. It helps formulate and implement monetary policy, supervises banks and bank and savings and loan holding companies, and provides financial services to depository institutions and the federal government. The Federal Reserve Bank of Philadelphia serves eastern and central Pennsylvania, southern New Jersey, and Delaware.
This posting is a dual grade posting, reflective of the higher level, Lead Accountant. We may also consider candidates who have a lower level of experience, education, or qualifications.
Job Summary:
Reporting to the Senior Accounting Manager, you will ensure accuracy, completeness, and integrity of accounting transactions and financial reporting. In this strategic role, you will partner with senior management to identify compliance risks, improve financial processes, and maintain rigorous accounting standards. You will use automatous judgment, have technical expertise, and lead complex accounting projects.
What You Will Do:
Financial Reporting & Statement Preparation
- Prepare comprehensive year-end financial statements and footnotes following GAAP
- Lead monthly accounting close processes, ensuring accurate accruals within established timeframes
- Lead quarterly financial processes, prepare quarterly reports, and executive-level management presentations
- Provide technical support and analysis for presentations to the audit committee
- You will serve as a primary liaison with external auditors, BOG Examiners, GAO, and regulatory agencies
Benefits Accounting & Compliance
- Prepare complex benefit accounting analyses and journal entries per FAS 112, FAS 106, and other benefit accounting standards
- Collaborate with the Office of Employee Benefits and Board of Governors on technical benefit accounting matters
- Process and document accounting entries for severance, retention, and compensated absences
- Ensure compliance with evolving benefit accounting regulations and standards
Team Collaboration & Technical Support
- Provide functional guidance, mentorship, and technical review for accounting staff across multiple teams (financial, cost, payroll, benefits, lease, asset management, and capital projects)
- Lead complex accounting research projects and present findings with actionable recommendations
- Foster professional development and technical competency within the accounting team
Technical Expertise and Standards Interpretation
- Be a subject matter expert on GAAP, FAM, and Federal Reserve accounting regulations
- Research latest accounting issues and document technical conclusions
- Lead projects to update FAM and the Bank's Financial Control Manual
- Develop and interpret system accounting rules and policies
Internal Controls & Audit Support
- Oversee Bank compliance with FAM and Financial Control Manual requirements
- Lead internal control reviews, self-audits, and process improvement plans
- Partner with internal and external auditors on control testing and remediation
Train & Knowledge Management
- Design and deliver accounting training programs for departmental partners
- Lead system implementation projects, including requirements gathering and user training
- Develop relationships with partners from analysts to C-suite executives
- Create documentation and resources to enhance accounting knowledge across the organization
Additional Responsibilities
- Provide backup support for Manager of General Ledger, Accounts Payable, Payroll, and related functions
- Represent the Bank in Federal Reserve System workgroups and committees
- Participate in special projects
- You will lead tasks and provide guidance but does not oversee direct reports.
What You Have:
Education and Experience:
- Bachelor's degree in Accounting or Finance required
- Minimum 5 years of progressive accounting experience in a corporate, financial institution, or public accounting environment
- Demonstrated experience with financial statement preparation and complex accounting analysis
- Experience leading accounting projects and supervising staff
Certifications
CPA (Certified Public Accountant) license preferred; active CPA candidates will also be considered
Knowledge:
Technical Skills
- Experience with GAAP and financial reporting standards
- Advanced proficiency with accounting systems and Microsoft Office Suite (particularly Excel)
- Analytical and quantitative reasoning abilities
- Experience with financial reporting automation tools
Professional Skills
- Written and verbal communication skills with an ability to explain complex accounting concepts
- Executive Presentations: Professional delivery to executive-level audiences
- Project management capabilities with proven ability to manage competing priorities
- Excellent attention to detail and commitment to accuracy
Interpersonal Skills
- Leadership and development, experience mentoring junior staff
- Relationship management skills across all organizational levels
- Collaborative approach with ability to influence without direct authority
- Professional presence and sound business judgment
Working Conditions:
- Standard office environment
- Occasional extended hours during month-end close, quarter-end, and year-end reporting periods
- We may require minimal travel for System meetings or training.
The salary grade for this position is: (Grade 13/14). Final salary and offer will be determined by the applicant's background, experience and skills, as well as internal equity and alignment with market data.
We offer a great benefits package that features:
- Medical (4 options), Prescription, Dental (3 options), and Vision Insurance with no waiting period
- 401k/Thrift Plan with generous employer match
- Employer-funded Pension Plan
- Paid Vacation/Sick Time & Holidays
- Monthly $200 Commuter Allowance
- Flexible Spending Accounts and Healthcare Spending Accounts
- Flexible Work Schedule available in most departments
- Life Insurance and Long Term Disability Insurance
- Tuition Reimbursement (undergraduate and graduate)
- Parental Leave
- Free onsite 24/7 Fitness Center including training classes, Peloton bikes and locker room / shower facilities
- Onsite Cafeteria & Coffee Shop
- Additional Convenience Benefits, Discounts and More…
Additional Information:
- The Federal Reserve Bank of Philadelphia takes your information privacy seriously. Federal Reserve Bank of Philadelphia staff will only email you from the “@phil.frb.org” domain or through the Workday system “rb@myworkday.com”. If you are initially contacted by phone, feel free to request that the caller provide you with their email address to validate their identity. If you have any questions about the validity of someone who contacts you regarding this position, please email the Talent Acquisition team at TalentAcquisition@phil.frb.org.
- We are an equal opportunity employer committed to hiring the best candidates and to providing equal employment opportunity to all persons without regard to race, color, religion, sex, pregnancy, national origin, age, genetic information, disability, military service, or any other basis protected by law.
- We will ensure that individuals with disabilities are provided reasonable accommodations to participate in the job application or interview process, to perform essential job responsibilities, and to receive other benefits and privileges of employment. If you need assistance or an accommodation due to a disability, please email us at TalentAcquisition@phil.frb.org.
- All Federal Reserve Bank of Philadelphia employees must comply with the Bank's ethics rules, which generally prohibit employees, their spouses/domestic partners, and minor children from owning securities, such as stock, of banks or savings associations or their affiliates, such as bank holding companies and savings and loan holding companies. If you or your spouse/domestic partner or minor child own such securities and would not be willing or able to divest them if you accepted an offer of Bank employment, you should raise this issue with the Recruiter for this posting, who can provide you contact information for our ethics officer if necessary. You should review the Bank's Employee Code of Conduct to ensure compliance with conflict of interest rules and personal investment restrictions.
- You will be required to complete a background investigation including drug testing as a condition of employment, after the job offer is made. Candidates for positions deemed as "safety sensitive" will also be drug screened for the presence of marijuana. Any hiring decision based on a background investigation will be made following an individualized assessment that is job-related and consistent with business necessity and applicable law. Employment may not begin until the Bank accepts the results of the background investigation.
- All employees will be subject to FBI fingerprint / criminal background and Patriot Act/ Office of Foreign Assets Control (OFAC) watch list checks at least once every five years.
- Certain eligibility rules apply. You will provide work authorization to prove your eligibility to work in the United States.
- The above statements are intended to describe the general nature, level of work and the requirements of this position. They are not intended to be an exhaustive list of all responsibilities associated with this position or the personnel so classified. While this job description is intended to be an accurate reflection of this position, management reserves the right to revise this or any job description at its discretion at any time.
- By applying to this position, you agree you will be available to work on-site in a full-time capacity.
- Learn more about the Philly Fed and its culture. Learn more about working for the Philly Fed.
#LI-Onsite
Full Time / Part Time
Full time
Regular / Temporary
Regular
Job Exempt (Yes / No)
Yes
Job Category
Accounting/Finance Family Group
Work Shift
First (United States of America)
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.
Always verify and apply to jobs on Federal Reserve System Careers (https://rb.wd5.myworkdayjobs.com/FRS) or through verified Federal Reserve Bank social media channels.
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