Investments & Derivatives Analyst II

FHLB Dallas actively pursues dedicated and hardworking individuals to be a part of our professional team. Positions are offered on an as-needed basis for all departments. View our current opportunities by clicking the View Open Positions tab above.

BASIC PURPOSE

Responsible for the accounting, settlement and servicing of the Bank's financial instruments, which includes the Bank's short- and long-term investments, (e.g., treasury securities, reverse repurchase agreements, federal funds sold, agency debentures, and commercial and residential mortgage backed securities, and mortgage loans), consolidated obligation discount notes and bonds liabilities, and interest rate derivatives. Will ensure the Bank's investments, mortgage loans, debt, derivatives, hedging strategies and other financial instruments are accounted for in a manner consistent with generally accepted accounting principles (GAAP), rules and regulations of the Securities and Exchange Commission (SEC), and directives from the Federal Housing Finance Agency (FHFA) and Commodity Futures Trading Commission (CFTC). Will interact with the Bank's traders, counterparties, and custodians to resolve document discrepancies, cash settlement issues, and interest accrual differences. Performs accounting research related to financial instruments.

PRIMARY RESPONSIBILITIES:

• Updates and maintains the investment accounting systems for all transactions related to investments, debt instruments, interest rate derivatives, other financial instruments and any associated hedging relationships.
• Performs a detailed review of all information on each assigned trade ticket, broker confirmation, and other pertinent trade documentation to ensure accuracy. Monitors trades for compliance with the Bank's investments, derivatives, hedging, and accounting policies.
• Performs daily cash settlement for investments, mortgage loans, debt issuances, and derivative instruments including cash and securities collateral. Ensures the accounting, securities and cash movements throughout the life of the trades are timely and accurate.
• Assures compliance with ASC320 and ASC 815 and other relevant accounting standards on all new and existing transactions. Provides hedge documentation for each transaction and enters hedging information into the derivatives accounting system.
• Evaluates balance sheet account reconciliations for financial instruments, including cash, investments, mortgage loans, debt and derivatives to ensure proper accounting and timely resolution of reconciling items.
• Prepares accounting calculations, analyses and journal entries for prepaid advance modification analyses, financing elements, OTTI securities, ASC 815-45 (FIN 39), asset classification, and mandatorily redeemable capital stock.
• Conducts research on major accounting issues through review of FASB Statements and other accounting related literature related to financial instruments. Documents and applies appropriate accounting policies and procedures.
• Reports any non-compliance with GAAP to the Chief Financial Officer and the Director of Internal Audit.
• Performs additional duties as assigned.

JOB REQUIREMENTS

• Bachelors degree with a major in accounting or finance. CPA or MBA required.
• 4-6 years of progressive experience in accounting for investments, mortgage loans and derivative instruments with a major financial institution, a broker/dealer and/or a public accounting firm. Experience working in a broker/dealer back office a plus.
• Significant knowledge of relevant accounting pronouncements related to investment and derivative instruments and mortgage loans including ASC 310, ASC 320, ASC 815 and ASC 860.
• Experience working with investment and derivative accounting systems a plus.
• Strong skills in MS Excel including familiarity with pivot tables, VLookups and VBA required. SQL query and SQL based report writing skills a plus.

FHLB Dallas Offers a Professional, Inclusive Culture

FHL Bank Dallas employees are committed to and exemplify the following principles:

• Service to our members is first and foremost
• All business will be conducted honestly and ethically
• Each employee contributes to customer service by directly serving our members or supporting those who do
• Interaction with members should focus on building professional relationships and helping customers achieve their goals
• Cooperation and teamwork throughout and across all levels of FHLB Dallas are essential to its effectiveness
• Colleagues and members will be treated with the utmost respect and dignity

FHLB Dallas provides equal employment opportunity to all individuals without regard to race, religion, color, sex, age, marital status, ancestry, veteran status, disability, or national origin. FHLB Dallas will consider for employment all persons on an individual basis consistent with job-related criteria without regard to visible and non-visible disabilities. Equal opportunity applies to all employment practices, including recruitment, screening, hiring, compensation and training, as well as other conditions and privileges of employment.