What are the responsibilities and job description for the Investment Company Accountant position at Division of Investment Management?
The Division of Investment Management is seeking a Staff Accountant (Investment Company Accountant). As an Investment Company Accountant, you will be responsible for providing accounting guidance on sensitive and complex programs, issues, and assignments covering a broad set of functions related to the investment management industry and the administration of securities laws for investment companies and advisers.
.
Qualifying experience may be obtained in the private or public sector. Experience refers to paid and unpaid experience, including volunteer work done through National Service programs (e.g., Peace Corps, AmeriCorps) and other organizations (e.g., professional, philanthropic, religious, spiritual, community, student, social). Volunteer work helps build critical competencies, knowledge, and skills and can provide valuable training and experience that translates directly to paid employment. You will receive credit for all qualifying experience, including volunteer experience. All qualification requirements must be met by the closing date of this announcement.
BASIC REQUIREMENT:
A. Applicants must possess a degree in economics that included at least 21 semester hours in economics and 3 semester hours in statistics, accounting, or calculus.--OR--
B. An appropriate combination of education and experience----courses equivalent to a major in economics, as shown in A above, plus appropriate experience or additional education. Examples of qualifying experience include individual economic research assignments requiring planning, information assembly, analysis and evaluation, conclusions and report preparation; supervisory or project coordination assignments involving a staff of professional economists, and requiring the evaluation and interpretation of economic information; or teaching assignments in a college or university in economic subjects in combination with one of the following: (1) personal research that produced evidence of results, (2) direction of graduate theses in economics, or (3) service as a consultant or advisor on technical economics problems.
ACCOMPLISHMENT RECORD COMPETENCIES: Your Accomplishment Record narratives should address the following competencies. See the How You Will Be Evaluated section below for more information:
Disclosure Guidance and Advice - Applies accounting expertise, and knowledge of industry issues and current topics, to provide guidance and recommendations to others.
Disclosure Examination - Reviews and analyzes disclosure documents in accordance with relevant rules, regulations, accounting principles, standards, and Commission, Division, and Office positions and interpretations to determine compliance with SEC and industry regulations.
Workload Management - Effectively prioritizes workload in a way that accommodates unforeseen developments and achieves successful outcomes.
Critical Thinking - Considers a variety of factors, general and subject matter-specific, when making decisions and determining next steps in a case.
.
Qualifications:
Applicants are responsible for confirming all required materials are submitted by the closing date of the announcement. Please check the How You Will Be Evaluated and Required Documents sections carefully, as missing documents will render the application incomplete and ineligible for review.Qualifying experience may be obtained in the private or public sector. Experience refers to paid and unpaid experience, including volunteer work done through National Service programs (e.g., Peace Corps, AmeriCorps) and other organizations (e.g., professional, philanthropic, religious, spiritual, community, student, social). Volunteer work helps build critical competencies, knowledge, and skills and can provide valuable training and experience that translates directly to paid employment. You will receive credit for all qualifying experience, including volunteer experience. All qualification requirements must be met by the closing date of this announcement.
BASIC REQUIREMENT:
A. Applicants must possess a degree in economics that included at least 21 semester hours in economics and 3 semester hours in statistics, accounting, or calculus.--OR--
B. An appropriate combination of education and experience----courses equivalent to a major in economics, as shown in A above, plus appropriate experience or additional education. Examples of qualifying experience include individual economic research assignments requiring planning, information assembly, analysis and evaluation, conclusions and report preparation; supervisory or project coordination assignments involving a staff of professional economists, and requiring the evaluation and interpretation of economic information; or teaching assignments in a college or university in economic subjects in combination with one of the following: (1) personal research that produced evidence of results, (2) direction of graduate theses in economics, or (3) service as a consultant or advisor on technical economics problems.
MINIMUM QUALIFICATION REQUIREMENT: In addition to meeting the basic requirement, applicants must also meet the minimum qualification requirement.
SK-14: Applicant must have at least one year of specialized experience equivalent to the GS/SK-13 level:1. Identifying accounting, auditing, or financial reporting deficiencies in financial statements and in financial disclosures included in registration statements and other SEC filings of registered investment companies and/or business development companies.
2. Preparing, reviewing, or auditing financial statements for registered investment companies (RIC).
3. Applying Generally Accepted Accounting Principles (GAAP) with particular focus on FASB ASC 946 - Investment Companies, Regulation S-X, the Investment Company Act of 1940, the Investment Advisers Act of 1940, Generally Accepted Auditing Standards (GAAS), and accounting rules and policies of federal securities laws and Acts.
4. Examining records related to the issuance, distribution, or trading of securities of registered investment companies.
2. Preparing, reviewing, or auditing financial statements for registered investment companies (RIC).
3. Applying Generally Accepted Accounting Principles (GAAP) with particular focus on FASB ASC 946 - Investment Companies, Regulation S-X, the Investment Company Act of 1940, the Investment Advisers Act of 1940, Generally Accepted Auditing Standards (GAAS), and accounting rules and policies of federal securities laws and Acts.
4. Examining records related to the issuance, distribution, or trading of securities of registered investment companies.
ACCOMPLISHMENT RECORD COMPETENCIES: Your Accomplishment Record narratives should address the following competencies. See the How You Will Be Evaluated section below for more information:
Disclosure Guidance and Advice - Applies accounting expertise, and knowledge of industry issues and current topics, to provide guidance and recommendations to others.
Disclosure Examination - Reviews and analyzes disclosure documents in accordance with relevant rules, regulations, accounting principles, standards, and Commission, Division, and Office positions and interpretations to determine compliance with SEC and industry regulations.
Workload Management - Effectively prioritizes workload in a way that accommodates unforeseen developments and achieves successful outcomes.
Critical Thinking - Considers a variety of factors, general and subject matter-specific, when making decisions and determining next steps in a case.
Responsibilities:
In this role as an Investment Company Accountant, you will be responsible for:- Examining, analyzing, and evaluating financial statements, disclosure, and other financial information included in filings made by registered investment companies (RICs) and business development companies (BDCs) and determining whether these items fully and fairly reflect financial condition and operating results considering U.S. Generally Accepted Accounting Principles (GAAP) requirements and applicable to investment companies under FASB Accounting Standards Codification Topic 946 Investment Companies (ASC 946) as well as Regulation S-X and other applicable requirements and guidelines.
- Performing research, data analysis, or targeted reviews of financial statements relevant to current initiatives and market events, trends, or conditions utilizing monitoring and data analysis tools to identify financial reporting issues, valuation or other measurement outliers, potential disclosure deficiencies, or other key metrics for evaluation of disclosure compliance by RICs and BDCs. Preparing memoranda and reports summarizing the results of such examinations and analysis, citing material deficiencies, and communicating and resolving such deficiencies directly with registrants, their counsel, or their accountants.
- Reviewing new registration statements for financial reporting and disclosure compliance, including application of GAAP, particularly with emerging asset classes or unique strategies that may have complex accounting concepts. Additionally, involved in the review of financial information for other registration statements, including those made in connection with investment company mergers and acquisitions.
- Participating in external discussions with registrants, their counsel, accountants, independent auditors, and other experts representing registrants with respect to accounting, auditing, or financial reporting matters raised in review of RIC and BDC filings.
- Participating in internal discussions with the Chief Accountant, Disclosure Assistant Directors, and other staff within the Division and throughout the Commission with respect to, among other things:
- Technical accounting, auditing, or financial reporting concerns arising in the examination and analysis of financial information contained within RIC and BDC filings; and
- Significant or unusual accounting, auditing, or financial reporting concerns regarding emerging asset classes, including hard to value assets, unique derivative instruments, and new or innovative investments, like those in the fintech space, and other novel strategies employed by RICs and BDCs; and
- At times, may be requested to present on accounting topics relevant to RICs or BDCs to staff within the Division or to others throughout the Commission.
Salary : $149,204