Director of Accounting - Loans, Investments and Derivatives

Description

JOB SUMMARY:
The Investment Accounting Senior Director is responsible for accurate accounting, valuation, financial reporting, and regulatory treatment of the company investment portfolio and derivative instruments. This role ensures compliance with U.S. GAAP (including ASC 320, 321, 815, 820, and 825), regulatory reporting requirements, and internal control standards, and serves as a key liaison with Treasury, FP&A, and External Auditors. Consistently gains the confidence and trust of others through honesty, integrity, and authenticity.

ESSENTIAL DUTIES AND RESPONSIBILITIES:
Loan Accounting

• Monitor and evaluate lending portfolios related to balances, yields and nuances related to accounting
• Partner with credit risk and lending leadership on performance of portfolio and aid in understanding of pricing, spreads, risk-adjusted returns
• Analyze loan growth, spreads, funding costs
• Support stress testing, CECL modeling and capital planning exercises
• Account for and evaluate loan sale strategies as well as oversee the accounting related to mortgage banking including hedging activity and application of fair value measurements as necessary

Investments Accounting

• Oversee accounting and financial reporting for the investment portfolio, including, AvailableforSale (AFS) and HeldtoMaturity (HTM) securities, mutual funds, and other alternative investments, as applicable.
• Ensure proper application of accounting guidance including ASC 320, ASC 321, ASC 326, and ASC 820.
• Review and approve monthly investment accounting entries, reconciliations, and roll forwards.
• Partner with Treasury and FP&A to ensure accurate accounting and planning for purchases, sales, calls, maturities, transfers, and restructurings of securities, as applicable.

Derivatives & Hedge Accounting

• Manage accounting and reporting for derivative instruments, including derivatives at the corporate and customer level.
• Ensure proper application of accounting guidance include ASC 815 through documentation of hedge designation, hedge effectiveness, recording month end activity and financial disclosure.
• Review derivative fair value calculations, journal entries, OCI impacts, and earnings recognition.
• Coordinate valuation inputs with thirdparty pricing vendors and internal risk teams.
• Coordinate with front line and operations to ensure accurate reporting and settlement of customer-related derivative activities.

Financial Reporting & Disclosures

• Prepare and review quarterly and annual financial statement disclosures related to:
• Loans Held for Investment, Loans Held for Sale, Mortgage Banking
• Investments and fair value measurements
• Derivatives, hedging activities, and accumulated other comprehensive income (AOCI)
• Support preparation of SEC, regulatory, or Call Report schedules related to investments and derivatives, if applicable.
• Assist in technical accounting analysis for new investment products, hedging strategies, and balance sheet optimization initiatives.
• Present analysis of material transactions to key stakeholders including senior leadership and provide relevant interpretation and recommendations as needed.

Controls, Governance & Audit

• Maintain an effective SOX controls environment over responsible areas.
• Function as primary point of contact for internal and external auditors for all investments and derivatives matters.
• Maintain accounting policies and procedures related to investments and derivatives, including updates for new accounting standards

Data management

• Oversee financial systems, data quality, and data accessibility to ensure the accuracy and timeliness of financial reporting related to areas under direct control.
• Implement and monitor processes to manage and streamline activities.

Process efficiency and strategic solutions:

• Work to continually enhance internal controls, maintain updated documentation of current departmental policies and procedures.
• Lead change initiatives, operational effectiveness reviews, and process improvements.
• Develop and implement changes to the accounting processes leveraging the Company's technology-based tools with a focus on enhancing efficiency and accuracy.
• Facilitate the resolution of issues and concerns that create barriers to a high-performing team and work environment.

Leadership and people development:

• Develop and manage a performance-oriented accounting organization, capable of actively and effectively engaging in and growing with the business.
• Champion and build a culture of control and accountability.
• Mentor and manage to facilitate associate engagement and professional development.
• Continually strive to develop talent within and recruit talent to the accounting organization to promote associate retention and meet current and future business needs.
• Adheres to Seacoast Bank's code of conduct.

EDUCATION AND/OR EXPERIENCE:

• Bachelor's or master's degree in accounting or related field required.
• Minimum of (10) years' experience in public accounting (audit background within financial services) or accounting within a large public corporation or bank required.
• Minimum of five (5) years' experience leading a high performing team.
• Licensed CPA preferred
• Previous banking/financial services experience, with strong knowledge of banking products and services and accounting and presentation issues relevant to the industry preferred.
• Mastery of GAAP accounting concepts and current accounting and financial reporting practices.
• Strong verbal and written communication skills.
• Demonstrates sound professional judgment using analytical and problem solving skills.
• Process improvement oriented with the ability to balance multiple projects.

The Statements above are intended to describe the general nature and level of work being performed by people assigned to this position. They are not intended to be an exhaustive list of responsibilities, duties, and skills. Because these statements are general, the job description is used for a variety of purposes including job evaluations; performance reviews; recruitment; etc. All Associates are required to adhere to the highest legal and ethical standards applicable to our industry. It is the policy of Seacoast Bank that all Associates will be familiar and compliant with all regulatory, legal, ethical and Bank risk mitigation requirements pertaining to both our industry and their individual roles. This includes the on time, successful completion of annual required training post-hire and effective execution of role responsibilities.