FCA Examiner (Accounting Specialist)
As an Accounting Specialist, responsibilities include:
Evaluating implications of complex accounting standards and practices on System institution financial performance and reporting. Analyzing accounting practices at regulated financial institutions for compliance with generally accepted accounting principles (GAAP) and accounting-related regulatory requirements. Monitoring, interpreting, and communicating the effects of emerging changes in GAAP, SEC rules, and industry practices on the examination of regulated financial institutions. Identifies appropriate solutions to complex accounting and reporting issues. Conducting meetings with public accounting firms and regulated institutions to exchange information and discuss emerging accounting and financial reporting issues. Evaluating financial reporting and disclosures at regulated institutions, including reports to shareholders and to FCA. Evaluating internal controls over financial reporting (ICFR). Researching and responding to accounting and financial reporting questions, provides on-site assistance on examinations requiring specialized expertise, and is involved with precedent setting or formal accounting opinions. Evaluating asset impairment, including allowance for credit losses and investment impairment. Evaluating defined-benefit pension plans. Evaluating internal audit programs. Making recommendations and ensuring that banks take corrective action when weaknesses are identified. Developing reports and other written products that summarize examination conclusions, results of research and analysis, and responses to technical questions. Presenting verbal briefings, reports, and other presentations to executive management, staff, and regulated institutions. Developing guidance for examiners and informational letters to regulated institutions; analyzing systemic risks and accounting practices; ensuring accounting policy is employed consistently; and participating in task forces that develop policy and regulations. Duties and expectations vary by grade level. For example, at the lowest grade level (VH-38), the specialist demonstrates sound competencies and understanding of applicable concepts and processes, and applies those competencies to moderately complex situations with only occasional guidance. At the highest grade and performance levels of this position (VH-40), the specialist (1) demonstrates comprehensive and expert competencies in the above subject matter; (2) applies those competencies in exceptionally complex situations; (3) serves as a key resource and advisor for the most complex technical questions; and (4) participates in developing FCA examination guidance and policy positions; (5) leads complex and sometimes sensitive communications with executives and directors at FCA and System institutions; and (6) serves in leadership roles requiring strong soft skills. You may qualify at the VH-38 (GS-12) band level if you have one year of specialized experience equivalent to the VH-37 (GS-11) band level. Experience may have been gained in Federal service or in equivalent public or private service and included activities similar to the following examples:
Evaluating or applying the accounting standards and practices commonly related to banks, such as accounting for loans, investments, other property owned, asset impairment, fair value measurement, purchase premiums and discounts, gains and losses on sales, leases, debts, derivatives, hedges, dividends, expense capitalization, pensions and benefits, securitization, income taxes, mergers and acquisitions, and other bank-related areas; Evaluating or developing financial reporting to shareholders or SEC; Evaluating internal controls over financial reporting (ICFR); Evaluating the impact of accounting practices on financial reporting and performance measures (e.g., the impact of accounting practices on earnings); Evaluating defined-benefit pension plans and internal audit programs. You may qualify at the VH-39 (GS-13) band level if you have one year of specialized experience equivalent to the VH-38 (GS-12)band level. This experience may have been gained in Federal service or in equivalent public or private service and included activities similar to the following examples:
Delivering briefings, reports, and other presentations to management. Evaluating or applying the accounting standards and practices commonly related to banks, such as accounting for loans, investments, other property owned, asset impairment, fair value measurement, purchase premiums and discounts, gains and losses on sales, leases, debts, derivatives, hedges, dividends, expense capitalization, pensions and benefits, securitization, income taxes, mergers and acquisitions, and other bank-related areas; Evaluating or developing financial reporting to shareholders or SEC; Evaluating internal controls over financial reporting (ICFR); Evaluating the impact of accounting practices on financial reporting and performance measures (e.g., the impact of accounting practices on earnings); Evaluating defined-benefit pension plans and internal audit program. You may qualify at the VH-40 (GS-14) grade level if you have one year of specialized experience equivalent to the next lower level, VH-39 (GS-13) band level. This experience may have been gained in Federal service or in equivalent public or private service and included activities similar to the following examples:
Serving as a leader responsible for identifying and defining work focus to ensure overall objectives and mission of the department are accomplished. Serving as a project manager responsible for initiating projects; planning, coordinating, implementing, and coordinating activities; developing deliverables; and leading briefings and presentations. Leading examinations or audits of accounting-related areas, or managing and developing policies and procedures for those areas. Delivering briefings, reports, and other presentations to senior management. Evaluating or applying the accounting standards and practices commonly related to banks, such as accounting for loans, investments, other property owned, asset impairment, fair value measurement, purchase premiums and discounts, gains and losses on sales, leases, debts, derivatives, hedges, dividends, expense capitalization, pensions and benefits, securitization, income taxes, mergers and acquisitions, and other bank-related areas; Evaluating or developing financial reporting to shareholders or SEC; Evaluating internal controls over financial reporting (ICFR); Evaluating the impact of accounting practices on financial reporting and performance measures (e.g., the impact of accounting practices on earnings); Evaluating defined-benefit pension plans and internal audit programs. This experience is typically associated with serving as an accountant, auditor, controller, accounting manager, or accounting-related analyst at a bank or similar financial institution. 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.
Estimated Salary: $20 to $28 per hour based on qualifications.
Evaluating implications of complex accounting standards and practices on System institution financial performance and reporting. Analyzing accounting practices at regulated financial institutions for compliance with generally accepted accounting principles (GAAP) and accounting-related regulatory requirements. Monitoring, interpreting, and communicating the effects of emerging changes in GAAP, SEC rules, and industry practices on the examination of regulated financial institutions. Identifies appropriate solutions to complex accounting and reporting issues. Conducting meetings with public accounting firms and regulated institutions to exchange information and discuss emerging accounting and financial reporting issues. Evaluating financial reporting and disclosures at regulated institutions, including reports to shareholders and to FCA. Evaluating internal controls over financial reporting (ICFR). Researching and responding to accounting and financial reporting questions, provides on-site assistance on examinations requiring specialized expertise, and is involved with precedent setting or formal accounting opinions. Evaluating asset impairment, including allowance for credit losses and investment impairment. Evaluating defined-benefit pension plans. Evaluating internal audit programs. Making recommendations and ensuring that banks take corrective action when weaknesses are identified. Developing reports and other written products that summarize examination conclusions, results of research and analysis, and responses to technical questions. Presenting verbal briefings, reports, and other presentations to executive management, staff, and regulated institutions. Developing guidance for examiners and informational letters to regulated institutions; analyzing systemic risks and accounting practices; ensuring accounting policy is employed consistently; and participating in task forces that develop policy and regulations. Duties and expectations vary by grade level. For example, at the lowest grade level (VH-38), the specialist demonstrates sound competencies and understanding of applicable concepts and processes, and applies those competencies to moderately complex situations with only occasional guidance. At the highest grade and performance levels of this position (VH-40), the specialist (1) demonstrates comprehensive and expert competencies in the above subject matter; (2) applies those competencies in exceptionally complex situations; (3) serves as a key resource and advisor for the most complex technical questions; and (4) participates in developing FCA examination guidance and policy positions; (5) leads complex and sometimes sensitive communications with executives and directors at FCA and System institutions; and (6) serves in leadership roles requiring strong soft skills. You may qualify at the VH-38 (GS-12) band level if you have one year of specialized experience equivalent to the VH-37 (GS-11) band level. Experience may have been gained in Federal service or in equivalent public or private service and included activities similar to the following examples:
Evaluating or applying the accounting standards and practices commonly related to banks, such as accounting for loans, investments, other property owned, asset impairment, fair value measurement, purchase premiums and discounts, gains and losses on sales, leases, debts, derivatives, hedges, dividends, expense capitalization, pensions and benefits, securitization, income taxes, mergers and acquisitions, and other bank-related areas; Evaluating or developing financial reporting to shareholders or SEC; Evaluating internal controls over financial reporting (ICFR); Evaluating the impact of accounting practices on financial reporting and performance measures (e.g., the impact of accounting practices on earnings); Evaluating defined-benefit pension plans and internal audit programs. You may qualify at the VH-39 (GS-13) band level if you have one year of specialized experience equivalent to the VH-38 (GS-12)band level. This experience may have been gained in Federal service or in equivalent public or private service and included activities similar to the following examples:
Delivering briefings, reports, and other presentations to management. Evaluating or applying the accounting standards and practices commonly related to banks, such as accounting for loans, investments, other property owned, asset impairment, fair value measurement, purchase premiums and discounts, gains and losses on sales, leases, debts, derivatives, hedges, dividends, expense capitalization, pensions and benefits, securitization, income taxes, mergers and acquisitions, and other bank-related areas; Evaluating or developing financial reporting to shareholders or SEC; Evaluating internal controls over financial reporting (ICFR); Evaluating the impact of accounting practices on financial reporting and performance measures (e.g., the impact of accounting practices on earnings); Evaluating defined-benefit pension plans and internal audit program. You may qualify at the VH-40 (GS-14) grade level if you have one year of specialized experience equivalent to the next lower level, VH-39 (GS-13) band level. This experience may have been gained in Federal service or in equivalent public or private service and included activities similar to the following examples:
Serving as a leader responsible for identifying and defining work focus to ensure overall objectives and mission of the department are accomplished. Serving as a project manager responsible for initiating projects; planning, coordinating, implementing, and coordinating activities; developing deliverables; and leading briefings and presentations. Leading examinations or audits of accounting-related areas, or managing and developing policies and procedures for those areas. Delivering briefings, reports, and other presentations to senior management. Evaluating or applying the accounting standards and practices commonly related to banks, such as accounting for loans, investments, other property owned, asset impairment, fair value measurement, purchase premiums and discounts, gains and losses on sales, leases, debts, derivatives, hedges, dividends, expense capitalization, pensions and benefits, securitization, income taxes, mergers and acquisitions, and other bank-related areas; Evaluating or developing financial reporting to shareholders or SEC; Evaluating internal controls over financial reporting (ICFR); Evaluating the impact of accounting practices on financial reporting and performance measures (e.g., the impact of accounting practices on earnings); Evaluating defined-benefit pension plans and internal audit programs. This experience is typically associated with serving as an accountant, auditor, controller, accounting manager, or accounting-related analyst at a bank or similar financial institution. 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.
- Department:
0570 Financial Institution Examining - Salary Range:
$73,250 to $158,202 per year
Estimated Salary: $20 to $28 per hour based on qualifications.
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