JOB LISTING

Accounting Officer II (Investment Accounting)

Organization: Los Angeles County Employees Retirement Association

Summary:

The position is assigned to Financial and Accounting Services Division's (FASD’s) Investment Accounting Section. The FASD is responsible for managing LACERA’s financial operations in accordance with established fiscal policies. FASD is divided into two operational areas: Investment Accounting and General Accounting Sections.

The Investment Accounting Section is responsible for recording, monitoring, and reconciling financial transactions related to LACERA’s investment portfolio.

The position supervises the Investment Accounting Section in LACERA’s FASD directing and overseeing the analysis, accounting, reconciliation, and monitoring of all financial transactions directly related to LACERA’s investment portfolio. Professional investment managers externally manage LACERA’s well diversified investment portfolio. LACERA's investment portfolio includes such multiple asset classes as: U.S. equities and convertibles, non-U.S. equities, fixed income, short term investments, mortgages, hedge funds, U.S. debt instruments, commodities, foreign currency, derivatives, private equities, and real estate (direct investments, funds and commingled funds). LACERA also participates in a securities lending program.

The General Accounting Section is responsible for the recording, monitoring, and reconciling financial transactions related to the collection of retirement contributions, payment of retiree benefits, and payment of administrative and non-administrative expenses.

VACANCY INFORMATION: The current vacancy is in the Investment Accounting Section.

CERTIFICATION BONUS: Any permanent, full-time employee working in this classification possessing a valid Certified Public Accountant license issued by the State of California is entitled to a Certification Bonus equal to two (2) salary schedules (approximately 5.5%)as provided by the Los Angeles County Step Pay Plan.

Description:

The following examples are intended to describe the general nature and level of work performed by persons assigned to each classification. Depending on the assignment, duties may include, but are not limited to the following:

Plans, organizes, directs and evaluates the work of the Investment Accounting Section, as well as coordinates the Section’s work with the FASD’s General Accounting Section, other LACERA divisions, County departments, and federal and state agencies.

Develops, recommends, and implements LACERA’s investment accounting policies and procedures, as well as supervises the installation of approved investment accounting policy and procedural changes.

Directs the maintenance of centralized investment accounting financial records and maintains control over all accounting transactions related to LACERA’s investment portfolio.

Oversees the maintenance and monthly reconciliations of all investment fund accounts between the investment managers and/or investment advisors, and custodian bank.

Monitors complete resolution of all exceptions resulting from the investment account monthly reconciliations.

Designs and implements accounting procedures and controls to ensure the proper accounting and classification in the General Ledger of all investment assets, liabilities, income, expenditures, and market valuations in accordance with Generally Accepted Accounting Principles.

Prepares and analyzes LACERA’s monthly financial statements, as well as regulatory reports.

Acts as liaison between investment managers, investment advisors, and custodian bank.

Analyzes, interprets, and recommends for implementation new Governmental Accounting Standards Board (GASB) pronouncements, as well as changes to pension financial reporting standards as GASB requires.

Assists in preparing LACERA’s responses to GASB’s commentary invitations to its Exposure Draft as it relates to pension-related accounting and financial reporting for plan sponsors/employers and pension plans.

Assists in educating the LACERA Board, executive and senior management, and other external parties about GASB changes and its impact on LACERA’s financial reporting.

Performs other related duties as assigned.

Requirements:

MINIMUM REQUIREMENTS:

Education:Completion of twenty-one (21) units of accounting including at least two (2) courses in advanced subjects such as cost accounting, governmental accounting, or auditing in an accredited college or university, or equivalent accounting education.

AND

Experience: One (1) year's professional accounting or auditing experience at the level of Accountant III, Intermediate Accountant-Auditor or Accounting Officer I, LACERA.

License: A valid California Class C Driver License or the ability to utilize an alternative method of transportation when needed to carry out job-related essential functions.

PHYSICAL CLASS II - LIGHT: Light physical effort which may include occasional light lifting to a 10 pound limit, and occasional bending, walking, stooping or squatting. Incumbents sit for extended periods of time. Work is performed in an office environment in a controlled climate.

DESIRABLE QUALIFICATIONS:

Graduation from an accredited* college or university with a Bachelor's degree in Business Administration, Accounting, or Finance.
A valid Certified Public Accountant (CPA)license issued by the State of California.
At least three (3) years of investment, debt or derivative accounting experience.
Demonstrated experience preparing various financial reports.
Two (2) years of experience supervising and evaluating the work of accounting professionals and other staff preferably in investment accounting.

*Accredited institutions are those listed in the publications of regional, national or international accrediting agencies which are accepted by the Department of Human Resources. Publications such as American Universities and Colleges and International Handbook of Universities are acceptable references. Also acceptable, if appropriate, are degrees that have been evaluated and deemed to be equivalent to degrees from United States accredited institutions by an academic credential evaluation agency recognized by The National Association of Credential Evaluation Services.

Special Instructions:

All applications must be submitted online. Please visit LACERA's website at www.lacera.com and clicking on the Career Opportunities link and then the job title and the Apply link.

Please mention you learned of this employment opportunity on the Careers In Government website.

Job Category:

Finance

Department:

Financial and Accounting Services Division

Location:

300 North Lake Avenue, Suite 650
City: Pasadena
State: California
Zip: 91101-4199
Country: UNITED STATES

Phone:

626-564-6000

Fax:

626-564-6699

Email: