AAS Loan Accounting Senior Associate @ KPMG - San Francisco, CA
14 days ago
AAS Loan Accounting Senior Associate
KPMG - San Francisco, CA
The KPMG Advisory practice is currently our fastest growing practice. We are seeing tremendous client demand, and looking forward we don't anticipate that slowing down. In this ever-changing market environment, our professionals must be adaptable and thrive in a collaborative, team-driven culture. At KPMG, our people are our number one priority. With a wealth of learning and career development opportunities, a world-class training facility and leading market tools, we make sure our people continue to grow both professionally and personally. If you're looking for a firm with a strong team connection where you can be your whole self, have an impact, advance your skills, deepen your experiences, and have the flexibility and access to constantly find new areas of inspiration and expand your capabilities, then consider a career in Advisory.
KPMG is currently seeking an AAS Loan Accounting Senior Associate in Accounting Advisory Services for our Deal Advisory practice.
- Assist with financial instruments accounting advisory services including position papers, policies and procedures related to originated or acquired loans, debt securities and related instruments; assist with interpreting technical accounting standards and develop business requirements, test planning and execution and project management
- Assist with integration of loan accounting platforms associated with buy side or sell side transactional work such as document, map and code loan data, define transaction events and corresponding journal entries, create test cases and compare with expected results and document process flows, narrative, risk and control matrices and desktop procedures, as needed; analyze and assess risk management activities related to investment portfolios, liquidity sources, accounting changes and new regulations and financial application enhancements
- Assist with buy side purchase accounting associated with acquired loans including purchased credit deteriorated (“PCD”) asset identification, gross up and disclosure reporting, non-PCD acquired loan to fair value reconciliation and reporting and loan level valuation cash flow processing
- Generate forecasted and actual amortization of cost basis adjustments to acquired loans and debt securities; assist with defining accounting processes, procedures and internal control practices
- Perform loan and debt security credit loss calculations and reporting on behalf of clients under IFRS 9 or ASC 326 given client provided risk parameters; draft memos and disclosure tables utilizing KPMG proprietary technology; interface between business and technology team, working on review, implementing, testing and post implementation support of amortization, credit and loan accounting software application for financial instruments (loans, debt securities and related financial instruments)
- Minimum three years of recent experience in financial services, structured finance, mortgage banking, corporate finance, or consulting industry required
- Bachelor's degree in Accounting, from an accredited college/university or CPA eligible; licensed CPA or equivalent is preferred
- Financial instrument accounting knowledge and experience including level yield amortization and impairment under expected cash flow approach and other applicable standards required, familiarity with financial instrument accounting under US GAAP is required and IFRS 9 is a plus; Accounting and risk management skills with financial instruments and strong understanding of financial instruments is preferred
- Experience in financial accounting application implementation, including requirements, testing, data transformation and post implementation support preferred; prior advisory or accounting process re-design/ streamlining experience is preferred
- Strong communication, writing, presentation, quantitative and analytical skills, knowledge of Alteryx, VBA, SAS, R, Python, or other coding languages a plus and experience with or understanding of relational database
- Willingness and ability to travel
KPMG LLP (the U.S. member firm of KPMG International) offers a comprehensive compensation and benefits package. KPMG is an affirmative action-equal opportunity employer. KPMG complies with all applicable federal, state and local laws regarding recruitment and hiring. All qualified applicants are considered for employment without regard to race, color, religion, age, sex, sexual orientation, gender identity, national origin, disability, protected veteran status, or any other category protected by applicable federal, state or local laws. The attached link contains further information regarding the firm's compliance with federal, state and local recruitment and hiring laws. No phone calls or agencies please.
At KPMG, any partner or employee must be fully vaccinated or test negative for COVID-19 in order to go to any KPMG office, client site or KPMG event. In some circumstances, individuals who are not fully vaccinated may also be required to have a reasonable accommodation to not be fully vaccinated for COVID-19.