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- Philadelphia, PA
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Budget & Cost Accounting Manager
Federal Reserve Bank of Philadelphia • Philadelphia, PA
Posted 9 days ago
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The Federal Reserve Bank of Philadelphia is one of the 12 regional Reserve Banks that, together with the Board of Governors in Washington, D.C., make up the Federal Reserve System. It helps formulate and implement monetary policy, supervises banks and bank and savings and loan holding companies, and provides financial services to depository institutions and the federal government. The Federal Reserve Bank of Philadelphia serves eastern and central Pennsylvania, southern New Jersey, and Delaware.
Manages development of the Bank's annual financial plan and maintains and coordinates Bank-wide budget expense. Oversees Bank-wide cost accounting process, including compliance and reporting. Performs complex analyses of the Bank's financial plans, policies and performance. Makes recommendations to senior management to ensure continued conformance with the Bank's financial objectives. Provides expertise to address and resolve financial planning issues. Ensures accuracy, timeliness and usefulness of budgeted financial data.
Principal Duties and Responsibilities:
Determines, maintains and modifies specifications for the structure of budget information included in Bank management's information and reporting systems.
Manages development of the Bank's annual budget document by recommending content, assigning various sections to Budget staff, overseeing/reviewing their work and writing major sections of the financial plan submitted to the Board of Governors.
Advises department management in the development of expense, staffing and volume estimates and budgets, productivity projections and quality targets; responds to ad hoc inquiries from senior and department management.
Performs complex analyses of budget data as well as variances between expense and budget data as required.
Reviews and analyzes business leader guidance budget information, provides guidance in budget assumptions and makes recommendations for adjustments as necessary.
Works closely with internal staff and management to ensure a consistent and uniform approach to the budget model.
Coordinates training provided to department management and budget coordinators as needed.
Develops presentations for senior management for budget reporting.
Reviews expenses to validate compliance with Planning and System Control (PACS) regulations.
Oversees development and analysis of Bank-wide surveys for compliance with PACS regulations.
Coordinates and oversees implementation of annual PACS changes.
Oversees expense reporting to ensure it's performed in an accurate, efficient, and timely manner.
Develops work schedules, assigns responsibilities for tasks and establishes targeted completion dates. Coaches and counsels staff as necessary to ensure timely, accurate, meaningful and effective output.
Performs and/or directs special projects as assigned.
Supports Federal Reserve System work groups and internal Bank programs.
Participates in staffing, performance appraisal, salary reviews, and training and development of employees.
Fulfills job duties and responsibilities in conformance with sound safety practices.
Performs other related duties as assigned.
Staff of 5-6 reportables.
Education and Experience:
Bachelor's degree in business or related discipline or significant work experience may be accepted in lieu of degree.
Minimum of 5 or more years cost accounting and/or budgeting and financial accounting analysis experience.
Knowledge and Skills:
Excellent organizational, analytical, interpersonal, oral, and written communication skills.
Demonstrated project management skills.
Demonstrated competence in knowledge and practice of business analysis.
Excellent PC skills, including proficiency in standard word processing, spreadsheet and presentation software applications.
The Federal Reserve Bank of Philadelphia believes that diversity and inclusion among our employees is critical to our success as an organization, and we seek to recruit, develop, and retain the most talented people from a diverse candidate pool. The Federal Reserve Bank of Philadelphia is proud to be an equal opportunity workplace.