Accountant

Full Job Description

This position is located in the Farm Credit System Insurance Corporation (FCSIC), Financial Management Division (FMD), in McLean, Virginia.

The incumbent serves as an Accountant and reports directly to the Chief Financial Officer (CFO). FCSIC utilizes a shared service provider to support financial reporting.

Desirable Qualifications: Experience with federal or public-sector financial reporting and audits; experience performing account reconciliations and preparing adjusting entries; experience evaluating internal controls and documenting processes and operating procedures/policies; and experience preparing analytical reports on financial trends, premiums, or investments for management decision-making.

Basic Requirements 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.

In addition to the above basic requirement: You may qualify at the VH-37 (GS-11) band level, if you fulfill one of the following qualification requirements:1.

One year of specialized experience equivalent to the VH-35 (GS-09) band level in the Federal service.

Specialized experience is experience that has equipped you with the knowledge, skills, and abilities to perform successfully the duties of the position.

Some examples of qualifying experience are: Experience applying generally accepted accounting principles (GAAP) or federal accounting standards to record, classify, and reconcile financial transactions.

Experience assisting with the preparation or review of financial statements or financial reports, such as monthly, quarterly, or annual financial reports, audit packages, or regulatory submissions.

Experience participating in internal control reviews, audits, or risk assessments over financial processes (e.g., cash, investments, receivables, payables, property, or travel) and helping to resolve findings or implement corrective actions 2.

A Ph.D. or equivalent doctoral degree; or 3 full years of progressively higher-level graduate education leading to such a degree; or possession of a LL.M. degree, if related.

Graduate level education must demonstrate the competencies necessary to do the work of the position; OR 3. A combination of education and experience as listed above.

In addition to the above basic requirement: You may qualify at the VH-38 (GS-12) grade level if you have one year of specialized experience equivalent to the VH-37 (GS-11) grade level in the Federal service.

Specialized experience is experience that has equipped you with the knowledge, skills, and abilities to perform successfully the duties of the position.

Some examples of qualifying experience are: Experience performing or leading complex reconciliations and analyses of financial accounts (such as fund, program, investment, or premium-related accounts), and researching and resolving discrepancies.

Experience preparing, reviewing, or overseeing the preparation of comprehensive financial reports or financial statements for management or external stakeholders in accordance with GAAP, federal accounting standards, or OMB/Treasury reporting guidance.

Experience designing, documenting, evaluating, or testing internal controls over financial reporting and operations in accordance with FMFIA, OMB Circular A-123, or similar requirements, including coordinating with auditors and management on internal control deficiencies and corrective action plans.

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.

Time-In-Grade Requirements: Current and former Federal employees (including VEOA eligibles) must have served one-year (52 weeks) at the next lower grade in the Federal service to meet time-in-grade restrictions per 5 CFR 300, Subpart F, by the closing date of the announcement.

Major Duties:

Supports the financial management and insurance fund operations of FCSIC, including accounting and financial reporting, internal control evaluation and administration, data analysis, investment and premium-related activities, and special projects.

Reviews and analyzes financial data; assists with the preparation of monthly, quarterly, and annual financial reports; ensures compliance with applicable federal laws, regulations, policies, and standards; and contributes to the development and documentation of policies and procedures.

Major duties include things such as: Reviews and evaluates financial data and transactions recorded in the financial management system, including posting entries and reconciliations of cash, investments, premium receivables, and other accounts.

Assists with the preparation of monthly, quarterly, and annual financial statements and related reports, including government-wide and regulatory reporting such as Office of Management and Budget (OMB) data requests and year-end audits.

Analyzes trends in insurance obligations, Insurance Fund percentages, and projected investment income; coordinates with Farm Credit System (FCS) banks or Associations to obtain data or communicate information; and projects insurance premium assessments to FCS banks.

Drafts and updates policies, procedures, standard operating procedures (SOPs), Board materials, and other written reports and documents related to financial management, internal controls, and program operations.

Performs internal control risk assessments for FCSIC operations and the control environment pursuant to the Federal Managers' Financial Integrity Act (FMFIA) and other relevant guidance.

Assists in the administration of the travel system, including routing changes, assigning proper accounting codes, and responding to employee inquiries; makes, allocates and reviews purchase card transactions.