The IDB Group is a community of diverse, versatile, and passionate people who come together on a journey to improve lives in Latin America and the Caribbean. Our people find purpose and do what they love in an inclusive, collaborative, agile, and rewarding environment.
About this position:
We are looking a dynamic professional to join IDB Invest’s accounting team to perform the product control activities covering all financial instruments transacted by IDB Invest for clients as well as for own accounts.
You will work in the Finance and Administration Department that covers the following areas: Controllership, Treasury, Operation and Information Technology. The Controllership Division is responsible for accounting and financial reporting, budget and financial planning, and administration to support IDB Invest’s business needs.
You will report to the Lead Accounting Officer for Financial Instruments Accounting within the Accounting area of the Controllership Division, that is responsible for three primary work streams that include Accounting Policy, Financial Instruments and Systems Solutions, and Financial Reporting and Corporate Accounting. The Accounting team is looking for an experienced financial instrument accountant with the right blend of technical expertise, professional judgment and analytical thinking to implement a variety of product accounting and reporting tasks related to IDBI’s development related financial instruments (loans and debt instruments, equity investments and guarantees) and treasury portfolio (fixed income securities, money market funds, borrowings, derivatives such as swaps and FX instruments). The financial instruments accounting function is rapidly growing due to portfolio growth and increased complexity, thus creating an exciting opportunity for applying knowledge and experience from financial instruments, accounting literature to system automation, process reengineering and data analysis while working in a dynamic and diverse team of professionals.
What you’ll do:
Ensure financial instruments are accurately accounted for in accordance with US GAAP.
Participate in the related technical research and lead implementation of new accounting pronouncements.
Assess accounting and financial reporting implications, prepare and document the accounting treatments for complex financial instruments by working extensively with IDB Invest’s investment officers, risk, legal and operational teams.
Lead and contribute to process redesign and find opportunity for automation and efficiency. Document process flows, risk & control matrix, and design internal control procedures over financial reporting.
Implement product accounting related control activities for financial instruments in the development related investments and/or treasury portfolios. Review work performed by junior team members.
Prepare month-end close related supporting schedules, perform analytical reviews and produce financial statement disclosures using data from various systems, other internal sources and external service providers.
What you'll need:
Required Skills And Proficiency:
Financial Reporting and Accounting Theory:
Understanding of banking industry’s financial reporting, accounting theory and US GAAP accounting principles and rules. Strong analytical skills.
IT Systems & Applications Knowledge:
Proficiency in the use of MS Office package. Knowledge of ERP & Financial Product systems and data analytical tools such as PowerBI is a plus.
Product knowledge:
Knowledge of IDB Invest financial products (loans, debt securities and equities securities, and guarantees) and treasury instruments (fixed-income investments, borrowings, swaps and FX instruments).
Financial Markets Knowledge:
Understanding of financial market dynamics and the implications for IDB Invest products and strategies.
Audits:
Understanding of audit processes and procedures and ability to apply knowledge to design solutions taking audit requirements into account.
Education:
Master’s degree in accounting, finance, or a related field required. CPA, CA or CFA equivalent professional license highly desired.
Experience:
5 years minimum of relevant professional experience working in the accounting or finance field. Applied working knowledge of US GAAP and/or IFRS. Big Four accounting experience a plus.
Languages:
Proficiency in English is required. Proficiency in Spanish highly desirable.
