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The Teacher Retirement System (TRS) of Texas is seeking a Senior Director of Investment Accounting to lead the Investment Accounting Department. TRS is the largest pension system in Texas and the sixth largest in the United States. We provide rewarding work in a professional work environment and values the diversity that comes with each of our team members. We are continually seeking bright individuals to join our team and improve the services we provide to Texas public education employees.
The Senior Director of Investment Accounting performs highly advanced (senior-level) managerial and professional financial investment accounting work. Work involves directing all operations of Investment Accounting department, directing the reconciliation, recording, and reporting of agency investment accounting data, and the preparation, analysis and reporting of investment financial information in accordance with the Governmental Accounting Standards Board (GASB). Works under minimal supervision with extensive latitude for initiative and independent judgment. This position reports to the Chief Financial Officer.
State Classification: 1624/Director V/B30
WHAT YOU WILL DO:
• Plans, organizes, directs, and monitors operations of the Investment Accounting department to ensure accomplishment of agency and section goals and objectives; and compliance with applicable federal, state, agency, and department policies, procedures, and processes.
• Directs the reconciliation of financial information with the agency’s custodian bank for holdings, income, and market value of investments.
• Ensures conformance to Generally Accepted Accounting Principles (GAAP), Governmental Accounting Standards Board (GASB) statements, and Financial Accounting Standards Board (FASB) statements.
• Oversees and/or prepares monthly and annual reconciliations between the agency general ledger (CAPPS/Peoplesoft) and custodian sub ledgers, and the Uniform Statewide Accounting System (USAS).
• Conducts research as needed to resolve reconciliation discrepancies.
• Oversees and/or prepares monthly, quarterly, and annual financial statements with schedules and exhibits, and periodic and special management reports regarding accounting and fiscal activities.
• Performs a lead role in the preparation of the TRS Annual Comprehensive Financial Report, including preparing or reviewing completed document for consistency of presentation and compliance with applicable standards.
• Oversees the preparation and review of reports to management and state leadership.
• Oversees the recording and reconciliation of financial information to the agency general ledger and the Uniform State Accounting System (USAS).
• Oversees the preparation and review of investment schedules and notes for the TRS Annual Comprehensive Financial Report.
Financial Analysis and Consulting
• Serves as TRS in-house expert on Governmental Accounting Standards Board (GASB) reporting requirements, especially investments and implementation of GASB standards.
• Oversees or performs the analysis, interpretation, and recording of investment financial data in agency accounting systems to ensure appropriate accounting treatment.
• Participates in the review and analysis of outsourced accounting function and in-house accounting systems to ensure conformance to Generally Accepted Accounting Principles (GAAP), Governmental Accounting Standards Board (GASB) statements, and Financial Accounting Standards Board (FASB) statements.
• Develops and implements recommendations to leadership on the validation and analysis of technical accounting reports.
• Evaluates current and proposed TRS investment accounting treatments for compliance with GAAP and GASB and recommends changes and additions.
• Coordinates with the TRS custodian bank on all investment reporting issues.
• Leads or participates in the development or revision of investment accounting policies, processes, procedures, and systems.
• Provides training and technical assistance to agency staff on accounting policies, procedures, processes, systems, and standards, especially concerning GASB requirements and OPEB accounting treatment.
• Participates on investment and accounting related committees and special projects as assigned, including assisting with CAPPS, outsourced accounting function, and other system implementation efforts.
• Oversees development and application of Controls over Financial Reporting.
• Ensures compliance with applicable federal, state, agency, and department policies, procedures, rules, and regulations.
• Leads or participates on accounting or investment related agency committees and special projects as assigned.
Performs related work as assigned
WHAT YOU WILL BRING:
• Bachelor’s degree from an accredited college or university in accounting, finance, or a related business field.
• Seven (7) years of full-time accounting, financial analysis, investment operations, audit or related experience requiring compilation, reconciliation, and/or analysis of detailed financial information
• Three (3) years of experience interpreting and implementing GASB and/or FASB pronouncements, including analyzing, reconciling, and reporting on investment data.
• Three (3) years of team leader, supervisory, or management experience.
Registration, Certification, or Licensure:
• Certification as a Certified Public Accountant (CPA) in good standing.
Internal Number: REQ 376
About Teacher Retirement System of Texas
The Teacher Retirement System of Texas is responsible for investing funds under its stewardship and for delivering benefits to members as authorized by the Texas Legislature. TRS is a defined benefit plan, with retirement benefits determined by a pre-established formula. The trust fund is sustained principally by three sources -- contributions by members during their working careers, contributions by the state and investment revenues.
TRS was founded over 80 years ago. With assets at $154 billion, the Trust is the largest public retirement system in Texas in both membership and assets. It is the sixth largest public pension plan in the U.S. and is among the 20th largest in the world. The agency serves more than 1.5 million people. Over 1 million are public and higher education members and over 400,000 are retirement recipients and beneficiaries. As of FY 2017, pension benefits totaling nearly $10 billion were paid to retirees and their beneficiaries.