Review Vacancy
AgencyState Comptroller, Office of the
TitleSenior Abandoned Property Accounts Auditor
Occupational CategoryFinancial, Accounting, Auditing
Bargaining UnitPS&T - Professional, Scientific, and Technical (PEF)
Salary RangeFrom $41993 to $52293 Annually
Appointment Type Contingent Permanent
Minimum Qualifications Candidates must be reachable on the Decentralized list for Senior Abandoned Property Accounts Auditor, exam #20-777 or reachable on the Abandoned Property Accounts Auditor Trainee 1 list, exam #20-724 or be a current NYS employee eligible for transfer under Section 70.1 or 70.4 of the Civil Service Law.
To be eligible for transfer under Section 70.1 to the Senior Abandoned Property Accounts Auditor, candidates must have one year of permanent competitive service in a title allocated to grade 16 or higher and have 24 credit hours in accounting and/or auditing.
To be eligible for transfer under Section 70.4 to the Senior Abandoned Property Accounts Auditor, a candidate must:
1. Have one year of permanent competitive service allocated to grade 16 or higher.
2. Meet the open competitive minimum qualifications of the position, and
3. Have standing on the open competitive decentralized exam list #20-777
To be eligible to transfer under Section 70.4 to Abandoned Property Accounts Auditor Trainee 1, a candidate must:
1. Have one year of permanent, competitive service allocated to grade 12 or higher,
2. Meet the open competitive minimum qualifications of the position, and
3. Have standing on the open competitive decentralized exam list #20-724.
Duties Description Duties Description
Perform ongoing audits of the contracted custodian for holding and liquidating OUF’s securities.
• The audits will involve gathering transaction data and summarizing security sales in tabular format that follows the designed audit plan and supports the audit objectives; developing audit samples conforming to statistical sample methodology; performing comparisons to independent data sources to determine the propriety and accuracy of the transactions; and ensuring any irregularities are discovered and resolved as quickly as possible. This will involve communication, both verbal and written, on a regular basis with the custodian to resolve any discrepancies which may arise as a result of the audit. Reports on the results of the audit findings with recommendations to procedural changes will be prepared.
Perform audits on mutual fund companies, transfer agents and/or brokerage firms holding securities (stock, bonds, mutual Fund, DRP, DRS, book entry and similar types of accounts in domestic and foreign trading markets) registered to the Comptroller.
The auditor in this position will function as the key contact with the reporters by:
• Perform audits of statements and electronic records to identify assets that should be reported and/or delivered to the Comptroller as unclaimed funds;
• Arrange for the transfer of assets into and out of accounts (making determinations on transferability and value, and issuing directives for claim payments),
• Reconcile the accounts and resolve any discrepancies that may arise.
• Providing authorizations to transfer assets that become transferable or obtain value, into accounts under the control of the OUF contracted custodian and maintained in a single consolidated account.
• Perform reviews on a regularly scheduled basis of the activities which transpire in the accounts to determine the propriety and accuracy of these transactions, including the receipt and/or delivery of shares, cash transactions resulting from corporate reorganization actions (liquidation and bankruptcy payments, mergers, acquisitions, etc.) and the transfers of this cash to the Office of Unclaimed Funds designated bank. The review involves the use of various internal and on-line resources, as well as verbal and written communication with the holder to resolve any discrepancies which may arise as a result of the review.
• Communicate, both verbally and in writing, on a regular basis with transfer agents and brokers.
Perform monthly reconciliations of the OUF securities accounts held by the contracted custodian.
• Utilize account statements, online access and other external resources to determine the beginning account balances of the security positions; review securities delivered in and out of the accounts during the period, confirm transactions were authorized (claims, sales, etc.); identify any other activity that impacted the account balances (cash transfers, corporate actions, forced liquidations, etc.); and verify the ending balances are correct. The reconciliation of the security accounts should include explanations as to the propriety of the activity which transpired. This task also involves ensuring any irregularities are discovered and resolved as quickly as possible by communicating with the custodian.
• In addition, reconcile all accumulated cash within each individual custody account; ensure funds are transferred when the aggregated balance reaches the designated threshold and at each month’s end.
Audit the transfer of securities from the existing custodian to the new custodian.
• Develop and execute an audit plan to ensure the transfer of securities from the existing custodian to the new custodian is handled without errors or omissions.
Assist reporters of abandoned property with questions regarding the reporting of securities.
• Using the Abandoned Property Law, policies and procedures, assist reporters of abandoned property with questions regarding the reporting of securities. The staff member in this position is expected to be well versed in OUFs reporting and delivery instructions and the Abandoned Property Law. This will involve verbal and written communication with reporting organizations, transfer agents, the OUF contracted custodian, the OUF Reports Processing and Claims Processing Units.
Additional Comments DESIRED COMPETENCIES:
• Accounting and auditing
• Analysis
• Written and Verbal Communication
• Securities industry experience
Some positions may require additional credentials or a background check to verify your identity.
Email Address recruit@osc.state.ny.us
Address
Street Office of Human Resources
110 State Street, 12th Floor
Notes on ApplyingNotes on Applying: Interested candidates should submit a cover letter and resume to recruit@osc.state.ny.us no later than February 23, 2016. Please reference Item # 05946– GOER-JDC when responding.
When responding, please include the reference number and letters listed in this section. The GOER ID # should not be included.