The Director of Accounting and Reporting is responsible for directing and guiding a team of accountants. The incumbent will manage a team of professional accountants and accounting specialists, oversee the preparation of financial statements and reports, and oversee accounting systems, procedures, and controls. Work involves managing operations and staff while providing direction and guidance in strategic planning; liaising with cross functional teams to assists with development and execution of finance initiatives to achieve continuous procedural and system improvement and program efficiencies; coordinating preparation of reporting used for analytical review and trend analysis to support information needs of the Financial Services Division and TRS management in order to inform and guide business decisions.
WHAT YOU WILL DO:
Accounting Leadership
• Establishes goals and objectives, guidelines, and procedures, priorities, and standards for achieving established goals.
• Serves as a subject matter expert on various aspects of financial reporting, and assists with system testing, analysis, and process improvement.
• Participates on accounting related committees and special projects as assigned Plans and conducts the review and analysis of agency accounting systems to ensure processing efficiency and conformance to Generally Accepted Accounting Principles (GAAP), Governmental Accounting Standards Board (GASB) statements, and Comptroller of Public Accounts reporting requirements.
• Oversees research requests, special projects, internal and external audits and assists in the implementation of special initiatives (such as TEAM).
• Oversees the implementation of changes resulting from new legislation working with other departments to monitor and analyze relevant state and federal legislation.
• Participates on accounting projects related to the TRICOT foreign office, including staying up to date on United Kingdom reporting standards and employment related issues.
Management
• Directs accounting and reporting department operations and staff, including direct supervision, performance evaluation, and hiring of staff.
• Monitors team assignments, workloads, work processes, and takes corrective actions as needed to ensure that all operations are covered and productivity, customer service, and quality goals are met.
• Assesses the training needs of team members and arranges for or develops and provides training, coaching, and technical assistance.
• Provides training and technical assistance to agency staff on financial reporting policies, procedures, and related issues.
• Develops and/or revises policies, processes, procedures, and systems.
• Develops, implements, and maintains financial controls and guidelines by ensuring compliance with applicable federal, state, agency, and department policies, procedures, rules, and regulations.
• Helps develop and support short and long-term operational strategies.
• Develops and enforces internal controls to maximize protection of company assets, policies, procedures, and workflow.
• Oversees and supports accounting and reporting team with dynamic leadership that creates an environment of trust and productivity.
Financial Statements and Reporting
• Supervises the analysis, interpretation, and recording of financial data in agency accounting systems.
• Oversees the preparation of monthly, quarterly, and annual financial statements; and prepares and distributes reports regarding accounting and fiscal activities.
• Oversees reconciliations between the general ledger and sub- ledgers, including special service buyback, capital assets, employee payroll, retiree annuitant payroll, refunds foreign office accounts, and other pension related sub ledgers.
• Oversees reconciliations between the general ledger and the Uniform Statewide Accounting System (USAS) for the fiduciary funds, proprietary fund, and governmental funds; and monitors USAS balances in the cash suspends funds.
• Oversees preparation of the TRS Annual Comprehensive Financial Report (ACFR), and reviews completed documents for consistency of presentation and compliance with applicable standards.
• Oversees preparation of quarterly and annual tax returns, and submission of 1099R, 1042 and 945 information to the Internal Revenue Service.
WHAT YOU WILL BRING:
Required Education
• Bachelor’s degree from an accredited college or university in accounting, finance, or a related business field.
Required Experience
• Eight (8) years of full-time progressively responsible accounting, financial analysis, or related experience requiring compilation, reconciliation, and analysis of detailed financial information.
• Four (4) years of experience leading, supervising, or managing professional staff.
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.