AVP, Accounting Policy & SOX Compliance Manager

AVP, Accounting Policy & SOX Compliance Manager

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The AVP, Accounting Policy and SOX Compliance Manager oversees and has overall responsibility for the development, implementation and administration of accounting policies for the Bank and the development and maintenance of the Bank’s SOX 404 and 302 compliance activities. The position manages the implementation of new accounting standards and reporting requirements with accounting personnel and functional departments. Provides guidance for financial reporting and general Bank accounting issues.

Evaluates new/proposed products or transactions for appropriate accounting treatment.

The position manages one staff member, the Senior SOX Compliance Analyst. With the Senior SOX Compliance Analyst, the position works with business process owners on the continued refinement, timely completion, and ongoing maintenance of all SOX 404 and 302 activities. Evaluates and concludes on the severity and materiality of any identified accounting errors or internal control deficiencies. Assesses business processes to identify internal control strengths and weaknesses.

Liaises with external and internal auditors to ensure compliance with rules and interpretations of SOX guidelines.

Additionally, the AVP, Accounting Policy and SOX Compliance Manager analyzes business processes across the Accounting department to identify opportunities for process improvement through automation and IT-system feature adoption, working collaboratively with department managers and staff to develop and implement solutions.

This role will have a hybrid work schedule in our Boston office in accordance with the Bank’s Hybrid Work Program. More time will be expected in the office to support onboarding initially.

• Develop and maintain accounting policies for the Bank which are consistent with GAAP and SEC requirements.
• Evaluate new GAAP and SEC requirements as issued to determine the impact on the Bank and develop or modify the Bank’s accounting policies as necessary.
• Monitor the Bank’s ongoing compliance with its accounting policies and disclosure requirements.
• Manage the update process for the Accounting Control department’s Policies and Procedures manual.
• Communicate accounting policies throughout the organization as necessary.

• Continuously improve the SOX processes to comply with the Sarbanes-Oxley Act by maintaining an understanding of SOX requirements, COSO and PCAOB standards, guidelines, new developments and trends. Develop, implement, and administer SOX policies and procedures for the Bank.
• Evaluate any identified accounting errors or internal control deficiencies and conclude on the severity and materiality of the deficiency. Oversee remediation activities for control deficiencies.
• Develop and maintain the Bank’s disclosure controls and procedures, consistent with the requirements of Sarbanes-Oxley, and ensure that the disclosure procedures are properly documented, communicated, implemented and enforced.
• Prepare a disclosure checklist in conjunction with the preparation of the annual and quarterly financial reports to ensure that the financial statements, footnotes and disclosures of the Bank are complete and consistent with applicable requirements.

• Research and document technical accounting inquiries and issues as needed and present findings and recommendations.
• When the Bank undertakes any new or modified business activity, prepare a written analysis of the accounting and/or disclosure treatment for the activity, citing relevant standards, pronouncements, and regulations.
• Monitor changes and developments in accounting requirements by the Financial Accounting Standards Board (FASB) and the SEC. Provide periodic updates to management and others throughout the Bank.
• Provide training and education to Bank staff on relevant new accounting guidance and on emerging accounting developments undertaken by the FASB and the SEC.
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