This series specification describes classes in which incumbents utilize a variety of automated systems and tools in order to assess, record, and analyze complex pension and investment accounting transactions; complete financial analysis and review of investment valuation for accounting compliance; evaluate unique and complex investments to determine proper accounting treatments for financial reporting; conduct legislative, policy and tax research and analysis; compile, record, and analyze financial information provided by external service providers; maintain partnerships with external money managers; apply Generally Accepted Accounting Principles (GAAP) to accounting transactions, policies, and financial reporting; prepare comprehensive annual and other periodic financial reports while complying with requirements promulgated by the Internal Revenue Service, other federal and California law, Governmental Accounting Standards Board (GASB), Financial Accounting Standards Board (FASB), and Government Finance Officers' Association (GFOA); conduct on-going risk assessments; monitor and verify the adequacy of internal controls; support complex financial system configuration and financial report development; develop, recommend, formulate, and implement financial management policies, controls, and procedures; prepare forecasting model using various trend analysis models; and respond to various internal and external audit requests.

Under general supervision, positions at this level function as either (1) a first line supervisor organizing and directing the work of technical and professional staff; or (2) a staff specialist performing technical and professional financial and investment accounting activities.  The work performed involves underlying assets, systems, or transactions which are complex and the risk of error is substantial.

Under general supervision, positions at this level function as either (1) a supervisor, where through one or more subordinate supervisor(s), plan, organize, and direct the work of technical and professional staff performing financial and investment accounting activities; or (2) a staff specialist performing technical and professional financial accounting activities.  The work performed involves underlying assets, systems, or transactions which are atypical and highly complex and the risk of error is significant.

Under direction, positions at this level either (1) have full supervisory responsibility for highly complex programs; or (2) function as a technical expert.  The work performed involves underlying assets, systems, or transactions which are the most complex and unique and the risk of error is potentially material.

Under general direction, this is the first management level over subordinate supervisors.  Positions at this level plan, organize, and direct the work of technical and professional staff performing the most critically sensitive and complex financial and investment accounting activities.

Positions at this level have full management responsibility, through subordinate supervisors and managers to direct the daily operations within the division including the most critical, sensitive, and complex financial and investment accounting activities (e.g., policy and compliance development and implementation, managing long-term projects in support of retirement accounting activities).  Positions at this level are responsible for maintaining relationships with other organizational leaders and any applicable external third parties; policy formulation and implementation that directly impacts the branch, division, organization, and pension program membership; and resolving  issues related to the implementation of organizational-wide, branch, and divisional polices.

For positions with supervisory/management responsibility

 

Knowledge of manager/supervisor responsibility for promoting equal opportunity in hiring and employee development and promotion; ability to effectively promote equal opportunity in employment and for maintaining a work environment which is free of discrimination and harassment.

General, Financial, Investment and Pension Accounting:  Knowledge of accounting principles and practices; financial markets, banking, management of investment portfolios; investment transaction treatments; fair market and actuarial valuation; policy research and analysis; and automated accounting systems.  Ability to analyze and evaluate financial and accounting records; conduct risk assessment and internal controls; conduct financial analysis and reviews of actuarial analysis and investment portfolios for accounting compliance; conduct error and fraud detection; compile, record, and analyze financial information; and prepare or assist in preparing financial statements with full note disclosures.

 

Equivalent to graduation from college with a specialization in financial management or a closely related field.

Equivalent to graduation from college with any major which shall include at least 24 semester units in financial accounting, managerial accounting, intermediate accounting, advanced accounting, taxes, cost accounting, auditing, business law, computer applications, or management information systems. Successful completion of the State Fund Accounting Course administered by the Department of Finance, shall receive credit for three semester hours toward the required accounting courses.

Completion of the equivalent of 60 semester units of course work which shall be given by a collegiate-grade residence institution, 36 units which shall include courses in financial accounting, managerial accounting, intermediate accounting, advanced accounting, taxes, cost accounting, auditing, business law, computer applications and management information systems. 

 

AND

One year of experience in the California state service performing professional, technical, or supervisory duties and applying principles, methods, techniques, and tools related to or in support of accounting, investments, auditing, taxes, risk analysis, financial systems, research, and/or budget activities in a class with a level of responsibility equivalent to an Accounting Administrator I.

Two years in the California state service performing the duties of an Associate Accounting Analyst.

Four years of increasing responsibility in professional accounting, auditing, budgeting, investment operations, financial systems, or banking.  Experience may be in a public or private financial institution setting, conducting a variety of financial accounting, investment accounting, or handling complex accounting and financial reporting work. (Qualifying education may be substituted on a year-for-year basis).

One year of experience in the California state service performing professional, technical or supervisory duties and applying principles, methods, techniques, and tools related to or in support of accounting, investments, auditing, taxes, risk analysis, financial systems, research and/or budget activities in a class with a level of responsibility equivalent to a Financial Accountant I.

Two years in the California state service performing the duties of an Accounting Administrator I

Five years of increasing responsibility in professional accounting, auditing, budgeting, investment operations, financial systems, or banking.  Experience may be in a public or private financial institution setting, conducting a variety of financial accounting, investment accounting, or handling complex accounting and financial reporting work.  (Qualifying education may be substituted on a year-for-year basis).

One year of experience in the California state service performing professional, technical, or supervisory duties and applying principles, methods, techniques, and tools related to or in support of accounting, investments, auditing, taxes, risk analysis, financial systems, research, and/or budget activities in a class with a level of responsibility equivalent to a Financial Accountant II.

Two years in the California state service performing the duties of a Financial Accountant I.

Six years of increasing responsibility in professional accounting, auditing, budgeting, investment operations, financial systems, or banking.  Experience may be in a public or private financial institution setting, conducting a variety of financial accounting, investment accounting, or handling complex accounting and financial reporting work.  (Qualifying education may be substituted on a year-for year basis).

One year of experience in the California state service performing professional, technical, or supervisory duties and applying principles, methods, techniques, and tools related to or in support of accounting, investments, auditing, taxes, risk analysis, financial

systems, research, and/or budget activities in a class with a level of responsibility equivalent to a Financial Accountant III.

Two years in California state service performing the duties of a Financial Accountant II.

Broad and extensive experience, at least seven years, of increasing responsibility in professional accounting, auditing, budgeting, investment operations, financial systems or banking.  Experience may be in a public or private financial institution setting, conducting a variety of financial accounting, investment accounting, or handling complex accounting and financial reporting work.  For at least two years, this responsibility must have been at a level equivalent to supervising staff in the operation of a complex accounting system.  (Qualifying education may be substituted on a year-for-year basis).

One year of experience in the California state service performing professional, technical, or supervisory duties and applying principles, methods, techniques, and tools related to or in support of accounting, investments, auditing, taxes, risk analysis, financial systems, research, and/or budget activities in a class with a level of responsibility equivalent to a Financial Accountant IV.

Two years in the California state service performing the duties of a Financial Accountant III.

Broad and extensive experience, at least eight years, of increasing responsibility in professional accounting, auditing, budgeting, investment operations, financial systems, or banking.  Experience may be in a public or private financial institution setting, conducting a variety of financial accounting, investment accounting, or handling complex accounting and financial reporting work.  For at least three years, this responsibility must have been at a level equivalent to supervising staff in the operation of a complex accounting system. (Qualifying education may be substituted on a year-for-year basis).