Accounting Manager- Capital Markets/Broker-Dealer
U.S. Bank
Accounting ManagerAt U.S. Bank, we're on a journey to do our best. Helping the customers and businesses we serve to make better and smarter financial decisions and enabling the communities we support to grow and succeed. We believe it takes all of us to bring our shared ambition to life, and each person is unique in their potential. A career with U.S. Bank gives you a wide, ever-growing range of opportunities to discover what makes you thrive at every stage of your career. Try new things, learn new skills and discover what you excel at—all from Day One.Job DescriptionThe Accounting Manager will support the accounting, financial reporting, and control environment for a clearing capital markets broker dealer with a diverse fixed income and securities financing activities. This role will be responsible for managing accounting activities across a range of products and transaction types, including fixed income trading, fixed income underwriting, securities borrowing and lending, repurchase and reverse repurchase agreements, defeasance transactions, and VRDN remarketing activities.This position requires strong broker-dealer product knowledge, technical accounting expertise, operational understanding of trade lifecycle events, and the ability to work cross-functionally with front office, operations, treasury, product control, regulatory reporting, and external/internal audit teams. The Accounting Manager will play a key role in ensuring accurate financial reporting, a robust control framework, and operational readiness in a highly regulated environment.Key Responsibilities:Product and Transaction Accounting OversightManage and oversee accounting support for the following products and activities:Fixed Income TradingCorporate bondsBrokered CDsMunicipal bondsU.S. TreasuriesAsset-backed securities (ABS)Variable Rate Demand Notes (VRDNs)Fixed Income UnderwritingsCorporate bondsMunicipal bondsABSBrokered CDsRule 144A offeringsSecurities Borrowing and LendingFirm stock borrow / stock loanCorporate bonds lending/borrowing activity where applicableRepurchase and Reverse Repurchase AgreementsU.S. TreasuriesCorporate bondsABSOther Capital Markets ActivitiesDefeasance transactionsVRDN remarketingCore Accounting ResponsibilitiesOversee daily, monthly, and quarterly accounting activities for capital markets and broker-dealer products, including trade date and settlement date accounting, accruals, valuations support, and balance sheet reconciliations.Review accounting treatment for trading inventory, underwriting positions, financing transactions, and related revenue/expense recognition.Ensure completeness and accuracy of accounting for:Trading gains/lossesUnderwriting fees and deal-related revenueInterest income and interest expenseBorrow and loan feesRepo and reverse repo income/expenseMark-to-market adjustments where applicableManage accounting close deliverables, journal entries, substantiations, and account reconciliations for assigned products and legal entities.Partner with operations and product control teams to understand end-to-end transaction flows and ensure accounting conclusions aligned with business activity and system processing.Support accounting analysis for complex transactions, new products, and non-routine events.Financial Reporting and ControlSupport internal and external financial reporting for the broker-dealer, including legal entity reporting and consolidation inputs, as applicable.Maintain strong balance sheet and P&L controls over trading, underwriting, financing, and remarketing activities.Review account reconciliations, breaks, aged items, and exception reporting; drive timely remediation and escalation where needed.Ensure compliance with internal accounting policies, U.S. GAAP, and broker-dealer control standards.Assist in development and maintenance of accounting policies, process narratives, desktop procedures, and control documentation.Partner with regulatory reporting teams to support consistency between general ledger balances and broker-dealer regulatory reporting inputs.Cross-Functional PartnershipWork closely with:Capital markets desk support teamsOperations / settlementsTreasury and liquidity teamsProduct control / valuation controlRegulatory reportingInternal audit, external audit, and complianceProvide accounting support for business initiatives, systems implementations, process changes, and legal entity or product expansion efforts.Serve as a key accounting contact for control issues, process improvements, and audit/regulatory inquiries.Team Leadership and Process ImprovementManage, coach, and develop accounting staff, including review of work product, prioritization of deliverables, and career development support.Identify and implement opportunities to improve accounting processes, strengthen controls, and reduce manual effort.Drive standardization and documentation across capital markets accounting processes.Support a culture of accountability, control discipline, continuous improvement, and effective partnership across finance and the business.Basic QualificationsBachelor's degree in accounting or finance (preferred) or related field, or equivalent work experienceSix or more years of accounting experiencePreferred Skills/ExperiencePrior people management or demonstrated leadership experienceStrong knowledge of broker-dealer products and transaction flows, particularly fixed income and securities financing productsExperience supporting month-end close, account reconciliations, control execution, and audit supportStrong understanding of U.S. GAAP and internal control requirements in a regulated financial services environmentAdvanced Excel skills and experience working with large data sets and accounting/reporting systemsHold FINRA Series 27 or be able to pass testing within 4-month window (120 days)Experience in a clearing broker-dealerExperience accounting for fixed income inventory, underwritings, repo/reverse repo, securities borrowing/lending, defeasance, and remarketing productsFamiliarity with broker-dealer regulatory reporting and legal entity considerationsExperience working with front office, operations, and regulatory reporting teams in a bank-owned broker-dealerStrong technical accounting research and memo-writing skillsExperience with process automation and systems enhancementsThe role offers a hybrid/flexible schedule, which means there's an in-office expectation of 3 or more days per week and the flexibility to work outside the office location for the other days.If there's anything we can do to accommodate a disability during any portion of the application or hiring process, please refer to our disability accommodations for applicants.Our approach to benefits and total rewards considers our team members' whole selves and what may be needed to thrive in and outside work. That's why our benefits are designed to help you and your family boost your health, protect your financial security and give you peace of mind. Our benefits include the following:Healthcare (medical, dental, vision)Basic term and optional term life insuranceShort-term and long-term disabilityPregnancy disability and parental leave401(k) and employer-funded retirement planPaid vacation (from two to five weeks depending on salary grade and tenure)Up to 11 paid holiday opportunitiesAdoption assistanceSick and Safe Leave accruals of one hour for every 30 worked, up to 80 hours per calendar year unless otherwise provided by lawReview our full benefits available by employment status
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