Agency: U.S. Securities and Exchange Commission
Position: Staff Accountant, SK-0510-14
Promotion Potential: SK-14
Open & Close Dates: 09/20/2023 to 10/03/2023
Salary: $139,300 - $245,201 per year
Location: Boston, MA; New York, NY; Washington, DC
Vacancies: One (1)
Job Link: https://www.usajobs.gov/job/750045300
IM works to support the SEC in its mission to protect investors, maintain fair, orderly, and efficient markets, and facilitate capital formation. IM regulates investment companies, variable insurance products, and federally registered investment advisers.
IM's Disclosure Review and Accounting Office is seeking to fill one Staff Accountant position in the Chief Accountant's Office in Washington, DC or one of the following regional locations: NYRO and BRO.
Conditions of Employment:
This position is open to U.S. Citizens.
Typical duties include:
- Examines, analyzes, and evaluates financial statements, disclosure, and other financial information included in filings made by registered investment companies (RICs) and business development companies (BDCs) and determines whether these items fully and fairly reflect financial condition and operating results in light of 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.
- Performs 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. Prepares memoranda and reports summarizing the results of such examinations and analysis, citing material deficiencies, and communicates and resolves such deficiencies directly with registrants, their counsel, or their accountants.
- Refer to the announcement on www.USAJOBS.gov for additional duties.
BASIC REQUIREMENT: All applicants must possess the following:
- Degree: accounting; or a degree in a related field such as business administration, finance, or public administration that included or was supplemented by 24 semester hours in accounting. The 24 hours may include up to 6 hours of credit in business law. (The term "accounting" means "accounting and/or auditing" in this standard. Similarly, "accountant" should be interpreted, generally, as "accountant and/or auditor.") or
- Combination of education and experience: at least 4 years of experience in accounting, or an equivalent combination of accounting experience, college-level education, and training that provided professional accounting knowledge. The applicant's background must also include one of the following:
- Twenty-four semester hours in accounting or auditing courses of appropriate type and quality. This can include up to 6 hours of business law;
- A certificate as Certified Public Accountant or a Certified Internal Auditor, obtained through written examination; or
- Completion of the requirements for a degree that included substantial course work in accounting or auditing, e.g., 15 semester hours, but that does not fully satisfy the 24-semester-hour requirement of paragraph A, provided that (a) the applicant has successfully worked at the full-performance level in accounting, auditing, or a related field, e.g., valuation engineering or financial institution examining; (b) a panel of at least two higher level professional accountants or auditors has determined that the applicant has demonstrated a good knowledge of accounting and of related and underlying fields that equals in breadth, depth, currency, and level of advancement that which is normally associated with successful completion of the 4-year course of study described in paragraph A; and (c) except for literal nonconformance to the requirement of 24 semester hours in accounting, the applicant's education, training, and experience fully meet the specified requirements.
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:
- With respect to registered investment companies and/or business development companies recognizing accounting, auditing, or financial reporting deficiencies in financial statements as well as financial disclosures included in registration statements and other filings of investment companies and/or business development companies registered with the SEC; AND
- Experience preparing, reviewing, or auditing financial statements for registered investment companies (RIC); AND
- Experience with 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; AND
- Experience applying accounting, auditing, examining or investigating principles to review records related to the issuance, distribution or trading of securities; preparing reports and presentations on findings and issues.
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