Financial Reporting Associate - Markets / System Open Market Account
Federal Reserve Bank of New York 293 reviews - New York, NY

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Federal Reserve Bank of New York

Primary Location

NY-New York City

Full-time / Part-time


Employee Status


Overtime Status


Job Type





Day Job

The Markets Group of the Federal Reserve Bank of New York implements monetary policy on behalf of the Federal Reserve System, as mandated by the Federal Open Market Committee. To accomplish this, the Bank conducts temporary and permanent open market operations. Securities purchased through these operations are managed in a portfolio known as the System Open Market Account ("SOMA") and are lent on a daily basis through the securities lending program. The Bank also implements foreign exchange policy on behalf of the System and the U.S. Treasury.

SOMA/CBIAS Controllers ("SCC") is responsible for accounting and financial reporting related to the SOMA, accounting for banking services to foreign central banks and international accounts ("CBIAS"), and accounting for the Exchange Stabilization Fund (“ESF”) on behalf of the U.S. Treasury.


Prepare/review reporting and

analysis on the SOMA and ESF portfolios and other Markets business activities

Perform/review daily accounting operations and general ledger close on a rotating schedule

Support SCC system project and new product implementations

Participate in periodic audits and reviews

Prepare/coordinate ad hoc requests in support of SCC and Markets management


Degree in accounting or finance, or similar experience, with a CPA or advanced degree preferred

At least 7 years of relevant work experience

Strong knowledge of internal controls, accounting operations and systems, and financial reporting

Fixed income and foreign exchange product knowledge is a plus

Knowledge of OPICs, a vendor fixed income accounting system is a plus

Strong written and verbal communication skills

Excellent organizational skill and demonstrated ability to manage multiple projects

This position requires access to Federal Open Market Committee Data, which is limited to "Protected Individuals" as defined in the U.S. federal immigration law. Protected Individuals include, but are not limited to, U.S. citizens, U.S. nationals, U.S. permanent residents who are not yet eligible to apply for naturalization, and U.S. permanent residents who have applied for naturalization within six months of being eligible to do so.

About this company
293 reviews
The Federal Reserve Bank of New York works within the Federal Reserve System and with other public and private sector institutions to foster...