Financial Specialist - ABS
Positions SpecificationsJob Function: Associate
Company: VW Credit
Company Website: http://www.vw.com/financial-services/
Position Location: Herndon, VA
Job Description:General Overview
The position supports VCI’s asset-backed securitization (ABS) programs, debt financing, and derivatives portfolios in a team-oriented environment with emphasis on analysis, documentation, and compliance.
- Assist the structuring team in the development and design of ABS programs including; - Review, interpret, and validate sections of the offering and legal documents.
- Assist in asset pool selection, analytics, and modeling cash flows.
- Coordinate due diligence effort with external accountants.
- Respond to requests and communicate with treasury, tax, legal, risk management, investment bankers, and outside legal counsel.
- Maintain and/or develop specialized accounting and servicing support for ABS transactions under US/Canadian/International accounting standards and related regulations including; - Asset selection and removal based on established criteria.
- Assist with maintenance of ABS systems and database records.
- Monitor pool performance for compliance with investor triggers and regulations.
- Prepare monthly servicing reports, journal entries and supporting documentation.
- Prepare monthly and annual SEC filings for public ABS transactions.
- Coordinate annual servicing audits performed by external accountants.
- Develop and maintain control procedures for ABS transactions under SEC Regulations.
- Prepare wire requests and reconciliations for daily collections related to public ABS transactions and the Like Kind Exchange program.
- Support the company’s hedge accounting programs including;
- Provide analytics and accounting support in the development of hedging strategies.
- Provide data input and maintain model used by treasury in interest rate risk management.
- Prepare hedge accounting documentation, perform effectiveness testing and analysis.
- Prepare accounting entries and reporting under US/Canadian/International accounting standards.
- Develop understanding of Treasury activities.
- Analyze various general ledger accounts / supporting schedules and reconcile as necessary.
- Prepare supporting schedules for the company’s financial statements and footnotes.
- Continuously develop knowledge base to keep current on existing and emerging issues in both accounting and banking to assist in meeting accounting and regulatory requirements.
- Develop recommendations and action plans to improve processes and controls to eliminate or mitigate risks related to the company’s financing and hedging programs.
- Undertake special assignments including the resolution of problems and assistance in the development of new processes and support systems.
- 3-5 years professional accounting & financial analysis experience - understanding of automotive financing business.
- Treasury and/or banking experience.
- Extensive personal computer financial applications knowledge & experience.
- Communication skills
- Problem solving and analytical skills
- Conceptual thinking skills
- Integration – joining people, processes or systems
- Influencing and negotiation skills
- Resource management
Qualifications and RequirementsProfessional & Educational Requirements
- Bachelor’s degree in accounting, finance, or business.
- Master’s degree in accounting, finance, or business is desired
- Certified Public Accountant is a plus