Financial Services Advisory Senior 1&2 - McLean

Ernst & Young, a global leader in professional services, is committed to restoring the public’s trust in professional services firms and in the quality of financial reporting. Our 107,000 people in 140 countries pursue the highest levels of integrity, quality, and professionalism in providing a range of sophisticated services centered on auditing, accounting, tax, and transactions. We strive to help all of our people achieve both their professional and personal goals through an inclusive environment that values everyone's contributions, appreciates diversity of thought, fosters growth, and provides continuous opportunities for development. Recognized by organizations such as Fortune, Working Mother, and Training magazine, Ernst & Young continually strives to be a great place to work.
Job Description:
Ernst & Young's Financial Services Advisory (FSA) unit is a specialty advisory practice that provides integrated market, credit and operational risk management; operations improvement, business integration, and strategic cost management; and regulatory and treasury advisory services to financial institutions and other capital markets participants. FSA includes individuals who have industry, client and product knowledge as well as quantitative, regulatory, project management and technology professionals. Our teams work together to coordinate the delivery of risk management, regulatory and business performance services to a variety of clients, including commercial banks, investment banks, broker-dealers, asset managers, insurance and energy trading companies, and other organizations. The FSA office in McLean, VA has built a Mortgage Center of Excellence. This is a team dedicated to helping clients manage the risks that occur when originating, purchasing, structuring, selling or retaining mortgages and mortgage related products. The accounting professionals in the McLean FSA office provide risk accounting services around derivative, hedge and asset accounting to mortgage and other financial institutions. Specifically, the FSA McLean accounting team teams with Ernst & Young’s On-Call consulting group to develop, review and implement the policies, procedures and controls related to client’s accounting for derivatives, hedges and assets. The group provides accounting expertise critical to the successful implementation of trading and accounting systems related to mortgage related and derivative products. Responsibilities: Working as an Accounting Advisory Senior in the McLean office, you will become part of a team that supports clients who participate in the mortgage markets for risk management, derivative and asset accounting. Key responsibilities include: (i) providing accounting expertise on client engagements, (ii) participating in the identification and analysis of client business issues and development of solutions, and (iii) participating in the development of the Mortgage Center of Excellence.Ernst & Young LLP, an equal opportunity employer, values the diversity of our work force and the knowledge of our people.
REQUIREMENTS
Qualifications: To qualify, candidates must have: Minimum of three (3) years experience focused on derivative and hedge accounting issues for a Big Four, a major consulting firm or within a financial service institution. Financial service industry experience is desirable and knowledge of mortgage-backed securities and asset securitization is a plus Strong expertise in derivative accounting (FAS133/138/149) Expertise in financial instrument accounting (FAS115/140/91) Excellent written and verbal communication abilities for report writing and client presentations A Bachelor's degree in accounting is required; Master's degree in Accounting or Finance is preferred CPA designation is required
Out-of-town travel, either domestically or internationally, is also required at least 10-20% of the time, on average.