Assistant Manager, Capital Markets Operations

$124,700 - $183,800/Yr

Navy Federal Credit Union - Vienna, VA

Full-time - Mid Level

Vienna, VA

Credit Intermediation and Related Activities

About the position

The Assistant Manager of Capital Markets Operations plays a crucial role in supporting Navy Federal's investment and liquidity management strategy within the Treasury division. This position involves assisting the Manager in overseeing the processes, controls, analysis, and reporting functions of the Capital Markets Operations (CM Ops) branch. The Assistant Manager will lead a team of analysts in daily operational activities, ensuring the proper management and monitoring of Navy Federal's reserve balance at the Federal Reserve Bank (FRB) and the accurate accounting of investment and debt transactions. This includes applying federal and industry regulations, as well as internal policies and procedures, to ensure accurate reconciliation and reporting for financial statements and regulatory compliance. In this role, the Assistant Manager will partner with the Manager to lead ongoing operational strategies that align with corporate and departmental goals. Responsibilities include monitoring account activities and reserve balances, accounting and settlement of transactions, conducting reconciliations, coordinating month-end closing processes, and preparing reports for leadership and regulatory bodies. The Assistant Manager will also be responsible for investigating and resolving discrepancies, overseeing the maintenance of the investment accounting subledger, and ensuring compliance with applicable laws and regulations. Additionally, the Assistant Manager will focus on team development by establishing performance goals, conducting appraisals, and providing mentorship to analysts. This position requires effective communication and collaboration with various stakeholders, as well as the ability to manage multiple priorities in a fast-paced environment. The Assistant Manager will act as the manager in the incumbent's absence and perform other duties as assigned.

Responsibilities

• Oversee and direct analysts on the day-to-day capital markets operational activities.
• Monitor account activities and reserve balance at the FRB, including forecasting end-of-day balance and 30-day forward-looking forecast.
• Account for and settle all investment and borrowing transactions.
• Conduct daily and monthly reconciliations of investment and borrowing transactions.
• Coordinate the month-end closing process of the investment accounting subledger to ensure timely and accurate transmission of accounting entries to the general ledger.
• Prepare monthly, quarterly, and annual reports for leadership, board of directors, regulators, and regulatory and financial reporting/disclosures.
• Lead the investigation and resolution of complex discrepancies, data entry errors, and out-of-balance situations; prepare and present recommendations for action/resolution to leadership.
• Oversee the maintenance of the investment accounting subledger to achieve efficiencies, reduce operational risk, and ensure accurate and timely accounting, analysis, and reporting.
• Review analysts' tasks such as corporate and securities wires, journal entries, and trades in the investment accounting subledger.
• Assist the Manager in executing/responding to organizational/operational changes and initiatives.
• Review the completeness and accuracy of, and monitor the timely submission of PBCs for internal and external auditors for audits/reviews/exams.
• Serve as the CM Ops team's primary point of contact by assisting to lead projects/initiatives within the department or across the enterprise.
• Stay abreast of and ensure compliance with applicable federal, state, and industry laws, regulations, and guidelines.
• Develop team unity, engagement, and capabilities by establishing performance goals and priorities, conducting and reviewing performance appraisals, and mentoring analysts.
• Act as manager in the incumbent's absence.
• Perform other duties as assigned.

Requirements

• Significant experience or operational knowledge with corporate capital markets operations and executing corporate investments.
• Advanced experience working in an operational environment with accounting entries, reconciliations, internal/external reporting, and related month-end close responsibilities.
• Significant experience in supervising, leading, coaching, and training team members in the application of accounting rules/treatment/regulatory reporting.
• Ability to effectively manage multiple priorities independently and/or in a team environment to achieve goals.
• Experience working in a SOX control environment to assist in the assessment of controls, risks, and effectiveness over financial reporting, as well as various internal and external audits/exams/reviews.
• Significant experience working with cross-functional teams and leading projects.
• Working knowledge of investment tracking and accounting software and accounting systems (i.e., general ledger).
• Experience in initiating, managing, and executing change.
• Effective organizational, planning, and time management skills.
• Effective interpersonal, oral, and written communication skills and the ability to effectively collaborate with various external and internal technical and functional business partners.
• Ability to effectively build relationships through rapport, trust, diplomacy, and tact across the enterprise.
• Effective word processing and spreadsheet software skills.
• Effective database and presentation software skills.
• Bachelor's Degree in Accounting, Economics, Finance, or the equivalent combination of training, education, and experience.

Nice-to-haves

• Experience with credit union financials and/or NCUA regulations.
• Knowledge of Navy Federal products, services, programs, policies, and procedures.
• Working knowledge of Navy Federal's functions, philosophy, operations, and organizational objectives.
• Previous experience in the financial services industry.
• CPA designation.
• Master's or advanced degree in Accounting, Economics, Finance, or the equivalent combination of training, education, and experience.

Benefits

• Highly competitive pay
• Generous benefits and perks
• Hybrid workplace options
• Career development opportunities
• Recognition for employee contributions