The Office of Compliance Inspections and Examinations ("OCIE") administers the SEC's nationwide examination and inspection program for registered investment advisers, investment companies, broker-dealers, transfer agents, clearing agencies, self-regulatory organizations, and other entities registered with the SEC.
The Staff Accountant position is in the National Examination Program located in Chicago, IL and is open to US citizens.
If selected, you will join a well-respected team as a Staff Accountant in the IA/IC that is responsible for providing accounting/examining assistance for actions being undertaken by the SEC as well as supporting NEP's mission to conduct and coordinate the nationwide examinations of IA/IC Agencies.
Typical Duties Include:
Providing technical assistance and support in one or more of the Office of Compliance Inspections and Examinations' accounting/examining program with emphasis on registered self-regulatory organizations, investment companies, investment advisers, broker-dealers, transfer agents, and clearing agencies, (collectively "registrants");
Planning and conducting examinations, developing reports of findings, communicating verbally in meetings, drafting detailed findings in reports, and providing advice and recommendations for complex clearing agency examinations;
Providing technical advice and assistance in the areas of accounting principles and standards, evaluating internal control processes, performing complex and difficult assignments supporting the mission of the OCIE's program; and
Analyzing complex internal control systems and processes, analyzing the methods used for valuing and accounting for a portfolio of securities, reconstructing records and process flows, analyzing cash-management systems, investigating new financial products, analyzing performance calculations, and/or analyzing risk.
All qualification requirements must be met by the closing date of this announcement.
Qualifying experience may be obtained in the private or public sector. 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. Qualifying education must have been obtained from an accredited college or university recognized by the U.S. Department of Education.
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-09: Applicant must possess at least one year of specialized experience equivalent to at least the GS/SK-07 level: Performing at least one of the following functions:
(1) Assisting with audits, examinations, investigations, or internal compliance reviews of securities-related financial institutions such as investment advisers, investment companies, broker-dealers, clearing agencies, and transfer agents;
(2) Assisting with the analysis of financial, operations or securities data; or
(3) Applying public accounting and auditing standards such as Generally Accepted Accounting Principles (GAAP) or International Financial Reporting Standards (IFRS).OR
Applicant must possess a Master's or equivalent graduate degree in business administration, finance or accounting; 2 full years of progressively higher level graduate education leading to such a degree in business administration, finance or accounting; or LL.B. or J.D. if related. Such education must demonstrate the knowledge, skills, and abilities necessary to do the work. One year of full-time graduate education is considered to be the number of credit hours that the school attended has determined to represent 1 year of full-time study. If that information cannot be obtained from the school, 18 semester hours should be considered as satisfying the 1 year of full-time study requirement. OR
Applicant must possess a combination of education and experience which includes education exceeding one year of graduate study in business administration, finance or accounting and at least six (6) months of specialized experience equivalent to GS/SK-07 level as described above.
SK-11: Applicant must possess at least one year of specialized experience equivalent to at least the GS/SK-09 level Performing at least one of the following functions:
(1) Performing audits, examinations, investigations, or internal compliance reviews of securities-related financial institution, such as investment advisers, investment companies, broker-dealers, clearing agencies, and transfer agents;
(2) Analyzing financial, operations or securities data;
(3) Assisting with projects focused on topics related to the control functions of a financial services firm; e.g. the reviewing procedures, practices, and records related to the issuance, distribution, and trading of securities, risk management, accounting treatment, capital treatment, financing structures, or assessment of risk controls;
(4) Applying public accounting and auditing standards such as Generally Accepted Accounting Principles (GAAP) or International Financial Reporting Standards (IFRS). OR
Applicant must possess a Ph.D. or equivalent doctoral degree; LL.M., or 3 full years of progressively higher level graduate education leading to such a degree; if related to business administration, finance, or accounting. OR
Applicant must possess a combination of education and experience which includes education exceeding two years of graduate study in business administration, finance or accounting and at least six (6) months of specialized experience equivalent to GS/SK-09 level conducting the activities described above.
ARE YOU USING YOUR EDUCATION TO QUALIFY? You MUST provide transcripts or other documentation to support your educational claims. Unless otherwise stated: (1) official or unofficial transcripts are acceptable, or (2) you may submit a list with all of your courses, grades, semester, year, and credit for the course. All materials must be submitted by the closing date of the announcement.
PASS/FAIL COURSES: If more than 10 percent of your undergraduate course work (credit hours) were taken on a pass/fail basis, your claim of superior academic achievement must be based upon class standing or membership in an honor society.
FOREIGN EDUCATION: If you are using education completed in foreign colleges or universities to meet the qualification requirements, you must show the education credentials have been evaluated by a private organization that specializes in interpretation of foreign education programs and such education has been deemed equivalent to that gained in an accredited U.S. education program; or full credit has been given for the courses at a U.S. accredited college or university. For further information, visit: http://www.ed.gov/about/offices/list/ous/international/usnei/us/edlite-visitus-forrecog.html