Job Description

If you’re looking for a meaningful career, you’ll find it here at Webster. Founded in 1935, our focus has always been to put people first--doing whatever we can to help individuals, families, businesses and our colleagues achieve their financial goals. As a leading commercial bank, we remain passionate about serving our clients and supporting our communities. Integrity, Collaboration, Accountability, Agility, Respect, Excellence are Webster’s values, these set us apart as a bank and as an employer.  

Come join our team where you can expand your career potential, benefit from our robust development opportunities, and enjoy meaningful work!

The Managing Director, Treasury Accounting is responsible for managing systems, accounting, servicing, resources and operations related to Treasury products including derivatives, investments, and debt issuances.  The position is responsible for managing the accounting close process, daily operations and accounting requirements related to preparation of SEC and regulatory filings of Treasury products.  The Managing Director Treasury Accounting is involved with design and implementation of Treasury strategies and management of data and automation related to Treasury systems.  The MD supports related business lines and works directly with support partners such as SOX, Audit (internal and external), and other critical review functions. Collaborate with colleagues across the company, Commercial, Compliance and Credit, as well as external vendors to provide support, solutions, and continuous process improvement. The Managing Director Treasury Accounting will manage a team responsible for a fast-paced environment that includes operations, accounting and reporting related to the Bank’s Derivatives, Securities, Long-Term Debt, Funding, FX, and short-term customer investments.

Derivative responsibilities include:

  • Servicing of a $23 billion notional value portfolio of 2,000+ derivative positions with of, including dealer and customer payments, notices, and ongoing account maintenance.

  • Client onboarding and regulatory reporting for trades

  • Trade validation and documentation review including revenue reporting.

  • Daily collateral management for dealer variation margin and settlement including CCP settlements.

  • Manage the daily trade process to include the proper documentation to be SOX compliant.

  • Manage controls around fair value of derivatives including CVA estimates.

  • Manage accounting entries, hedge accounting requirements and quarterly SEC/Regulatory reporting. Manage reconcilement daily cash and monthly sub-ledger to Oracle.

  • Management reporting for counter party risk and trade activity.

  • Manage vendor relationship for Derivative system of record including being subject matter system expert and owning overall internal vendor relationship for both contract and Third-Party Risk assessments and SOC1 reviews.

  • Support a front office team of 6 traders and be involved in weekly meeting and actively partner with business line on strategic initiatives.

Investment Securities Portfolio responsibilities include:

  • Servicing of a $15 billion portfolio of 2,000+ securities positions including P&I collection, trade settlement, trade validation and ongoing asset maintenance such as ratings, rates, and factors.

  • Management reporting and analysis related to balance sheet and income impact of securities portfolio. Partner with front office Treasury team to perform controls around fair value analysis and CECL estimates.

  • Manage vendor relationship for Investment system of record including being subject matter system expert and owning overall internal vendor relationship for both contract and Third-Party Risk assessments and SOC1 reviews.

  • Manage relationships with custody vendors including BNYM, FRB-NY and various other pledge facilities. Be a subject matter expert in custody systems as well as pledge requirements.

  • Manage the high-volume of daily collateral movements required to maintain adequate liquidity profile. Maintain proper location details for custody reconcilement and payment locations related to collateral movement.

  • Manage the daily process to be SOX compliant with the goal of zero deficiencies.

  • Manage accounting entries, quarterly SEC/Regulatory reporting and reconcilement of daily cash and monthly sub-ledger to Oracle as well as custody position reconcilement.

  • Support a front office Treasury team of traders and ALM, Capital managers and be involved in weekly meeting and actively partner with business line on strategic initiatives.

Long-term debt, Funding, FX and customer short-term investments:

  • Onboarding and servicing of counterparty funding instruments such as long-term debt, FHLB advances, fed funds purchased, brokered CD, wholesale repo and customer short-term repo investments.

  • Manage the settlement, valuation, and reporting of FX trades related to hedging the Bank’s foreign denominated loan portfolio. Partner with Treasury Funding and Loan Operations to process daily settlements as required. Provide reporting and position reconcilement for all FX positions.

  • Support a front office Treasury team of traders and be involved in weekly meeting and actively partner with business line on strategic initiatives.

Other Manager responsibilities include:

  • Develop and implement policies and procedures to maintain effective control over daily operations.

  • Support an effective SOX and Audit control environment with complete documentation and strong control processes.

  • Manage the team and provide and motivate the team to perform and produce a quality work product.

  • Actively lead/participate in corporate projects.

Experience

  • Bachelor’s degree in accounting or finance. CPA or equivalent work experience is preferred..

  • Minimum of 10 years of experience. Knowledge of treasury products including derivatives and securities is preferred.

  • Strong time management skills with the ability to multi-task in a fast-paced environment.

  • Strong written and verbal communication skills.

  • Strong analytical skills and the ability to learn multiple core accounting and treasury systems.

  • Availability to work extended hours as needed during high volume and financial close

  • Strong Microsoft office skills (Excel, Word, Outlook)

The estimated salary range for this position is $160,000USD to $195,000USD. Actual salary may vary up or down depending on job-related factors which may include knowledge, skills, experience, and location. In addition, this position is eligible for incentive compensation.

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All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability or protected veteran status.

Application Instructions

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