Accountant – Corporate Accounting and Compliance

Job Description

Accountant – Corporate Accounting | Federal Reserve Bank of Chicago

The Tone:
This is a full-time role at the Federal Reserve Bank of Chicago, located in Chicago, IL. The Chicago Fed is dedicated to strengthening the economy and our communities, taking pride in its contribution to the Fed’s mission. Joining this team means becoming part of a culture that welcomes differences, supports its communities, and empowers career growth. This Accountant role on the Corporate Accounting and Compliance team is crucial for supporting daily accounting and compliance tasks, ensuring accuracy and timeliness in financial operations.

The TL;DR
• Role: Early Career
• Type: Full time
• Location: In office Chicago, IL
• Pay: $71,700–$84,800 yearly
• Team: Small team of Accountants, reporting to the Accounting Supervisor within the Corporate Accounting and Compliance Team.
• Mission: Ensure the accuracy and timeliness of general accounting and compliance tasks to uphold financial integrity and support the Bank’s broader mission.
• Tech Stack: Enterprise Resource Planning (ERP), Microsoft Outlook, Word, Excel, PowerPoint

What You’ll Actually Do
• General Accounting: Perform daily accounting activities including preparation, maintenance, and reconciliation of ledger accounts and financial statements under limited supervision.
• Journal Entries: Prepare monthly, quarterly, and ad hoc journal entries, identifying and addressing discrepancies and irregularities to implement appropriate solutions.
• Compliance Oversight: Perform routine and moderately complex review functions, ensuring compliance with GAAP standards, Federal Reserve policies, and best practices, and assist with SOX/COSO area functions.
• Cross-functional Collaboration: Participate in daily assignments and cross-functional workgroups, partnering with other departments and Districts to ensure shared transactions and processes are completed accurately and timely.
• Financial Reporting & Analysis: Prepare, review, and analyze accounting records and other financial reports while building relationships with internal business stakeholders.

The Must-Haves
• Background: Bachelor’s degree in Accounting or a related field is required for this early career position. Candidates must possess knowledge of and ability to interpret and apply Financial Accounting Manual (FAM) guidelines and Generally Accepted Accounting Principles (GAAP) to ensure compliance and accuracy.
• Experience: A minimum of 1 year of relevant work experience is essential to perform the duties of this role effectively.
• Skills: Key skills include strong analytical and problem-solving abilities for moderate complexity issues, acute attention to detail with a high degree of data accuracy and integrity, and strong oral and written communication skills to interact with all organizational levels. Additionally, strong interpersonal skills and proficiency in Microsoft Outlook, Word, Excel, and PowerPoint are necessary.
• Bonus: Familiarity with Enterprise Resource Planning (ERP) or other accounting software is a plus. The ability to provide accurate training and guidance on financial compliance and accounting/financial tools, alongside strong time management skills, are also beneficial.