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Teacher Retirement System of Texas
Austin, Texas
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Details
Posted: 27-Mar-23
Location: Austin, Texas
Type: Full Time
Salary: 89,083.00 - 111,354.00, Annual
Categories:
Government
Preferred Education:
4 Year Degree
Internal Number: REQ 810
The Senior Financial Analyst is responsible for providing financial analysis and accounting reports. The incumbent will serve as the in-house expert on GASB requirements, evaluate TRS laws, rules, accounting systems, and reporting for compliance with GASB, and prepare financial statements and reports including preparations of the TRS Annual Comprehensive Financial Report (ACFR). This position will proactively work with the Financial Analyst team, Finance staff, and agency employees.
WHAT YOU WILL DO:
Financial Analysis and Consulting
• Serves as TRS in-house expert on Governmental Accounting Standards Board (GASB) reporting requirements, especially concerning Pensions, Other Post Employment Benefits (OPEB) and implementation of GASB standards.
• Participates in the review and analysis of accounting systems to ensure conformance to Generally Accepted Accounting Principles (GAAP), Governmental Accounting Standards Board (GASB) statements, and Financial Accounting Standards Board (FASB) statements.
• Evaluates current and proposed TRS laws and rules for compliance with GAAP and GASB, and recommends changes and additions.
• Oversees or performs the analysis, interpretation, and recording of financial data in agency accounting systems to ensure appropriate accounting treatment.
• Coordinates with the TRS actuary on all Pension and OPEB issues.
• Leads or participates in the development or revision of accounting policies, processes, procedures, and systems.
• Provides training and technical assistance to agency staff on accounting policies, procedures, processes, systems, and standards, especially concerning GASB requirements and OPEB accounting treatment.
• Participates on accounting related committees and special projects as assigned, including assisting with CAPPS, TRUST and other system implementation efforts.
Accounting and Reconciliation
• Oversees and/or prepares monthly and annual reconciliations between the general ledger and sub ledgers, and the Uniform Statewide Accounting System (USAS).
• Conducts research as needed to resolve reconciliation discrepancies.
• Oversees and/or prepares monthly, quarterly, and annual financial statements with schedules and exhibits, and periodic and special management reports regarding accounting and fiscal activities.
• Performs a lead role in the preparation of the TRS Annual Comprehensive Financial Report (ACFR), including preparing or reviewing completed document for consistency of presentation and compliance with applicable standards.
Performs related work as assigned.
Required Education
• Bachelor’s degree from an accredited college or university in accounting, finance, or a related business field.
Required Experience
• Six (6) years of full-time accounting, financial analysis, audit or related experience requiring compilation, reconciliation, and/or analysis of detailed financial information
• Three (3) years of experience interpreting and implementing GASB pronouncements, including pension and other post employment benefits.
• Experience may be concurrent.
About Teacher Retirement System of Texas
The Teacher Retirement System of Texas is responsible for investing funds under its stewardship and for delivering benefits to members as authorized by the Texas Legislature. TRS is a defined benefit plan, with retirement benefits determined by a pre-established formula. The trust fund is sustained principally by three sources -- contributions by members during their working careers, contributions by the state and investment revenues.
TRS was founded over 80 years ago. With assets at $154 billion, the Trust is the largest public retirement system in Texas in both membership and assets. It is the sixth largest public pension plan in the U.S. and is among the 20th largest in the world. The agency serves more than 1.5 million people. Over 1 million are public and higher education members and over 400,000 are retirement recipients and beneficiaries. As of FY 2017, pension benefits totaling nearly $10 billion were paid to retirees and their beneficiaries.
More Jobs from This Employer
https://careers.tx.cpa/jobs/18378763/financial-analyst-sr
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