SEC Academic Fellowships
The U.S. Securities and Exchange Commission (SEC) invites qualified accounting professors and new PhDs to express their interest in possible fellowship opportunities at its headquarters next to Union Station in the heart of Washington, DC for academic year 2016–2017. An Academic Fellowship at the SEC provides an unparalleled opportunity for accounting academics to be directly involved in the work of the SEC and to gain insight into the SEC's oversight and regulatory processes. An SEC fellowship is a remarkable way to spend a sabbatical year or a leave of absence and provides experience that will greatly enhance subsequent teaching and research activities. At least one and possibly two Academic Fellowships are available in the Office of the Chief Accountant: one in the Professional Practice Group and possibly one in the Accounting Group.
Office of the Chief Accountant
The Office of the Chief Accountant (OCA) is responsible for establishing and enforcing accounting and auditing policy to enhance the transparency and relevancy of financial reporting. OCA also is responsible for improving the professional performance of public company auditors in order to ensure that financial statements used for investment decisions are presented fairly and have credibility. OCA serves as principal adviser to the Commission on accounting and auditing matters.
Fellowship Descriptions
The OCA is interested in candidates with credentials in the area of auditing and financial accounting. Academic Fellows serve as a research resource for OCA, participate in OCA projects which frequently involve the SEC's oversight of standard-setting, and assist in auditor and registrant matters. The fellowships, which have been in existence for over twenty years, are for research-oriented professors with an interest in working closely with OCA leadership and staff on registrant and auditor issues. Among other projects, it is envisioned that the successful Fellowship applicant will assist in analyzing data to better inform OCA leadership about strategic issues, including through the development of models and methods. Sources involving financial reporting issues (such as restatements), SEC staff consultations, and otherdata provide a rich resource that can inform OCA leadership about strategic issues and can be aligned with financial reporting and auditing standards and requirements. Requirements include a PhD, a strong research background in auditing and financial reporting, and a CPA or equivalent technical expertise.
Compensation, Benefits and Timing
Faculty members at U.S. universities are hired in Academic Fellows positions under the Intergovernmental Personnel Act (IPA), which allows the professor to continue as an employee of the university. The faculty member continues to be paid by the university and receive its benefitspackage. The SEC, in turn, reimburses the universityfor the professor's salary and benefits. Under an IPA contract, relocation expenses to and from the Washington, DC area are generally reimbursed in accordance with Federal Travel Regulations and standard SEC policies whichapply to IPA assignments. IPA appointments generally involve a 12-month period beginning August 1 each year. Compensation for SEC Academic Fellows is typically 12/9s of the professor's academic-yearsalary, up to a maximum of pay grade SK-16 (for 2015–2016 that amount was $223,649) plus related benefits. Academic Fellows on an IPA contract do not have a citizenship requirement other than possessing a valid work visa to be legally employed by the university.
[Note: The salary cap does not mean that an Academic Fellow's maximum 12-month salary is $223,649. Rather, $223,649 is the maximum salary that the SEC will reimburse to the university (all normal university benefits will also be reimbursed). The employing university is permitted to compensate the professor more than this amount.]
Recent PhDs who are not university faculty members and others wishing to become SEC employeescan behired by the SEC directlyfor a two-year term appointment that is renewable up to a maximum of four years in total.Relocation expenses are not reimbursable for term appointments. In order to qualify for a term SEC appointment, the candidate must be a permanent resident or U.S. citizen to qualify. For information on employment eligibility for non-U.S. citizens, see https://help.usajobs.gov/index.php/Employment_of_Non-citizens
All position appointments are contingent upon the candidate passing a background check.
Application Information and Procedures
To apply, you must electronically submit a vita and a cover letter that summarizes your qualifications. Candidates with either auditing- or financial reporting-focused research interests will be considered for both Fellowships. Applications for fellowships must be made electronically to Christine Nolder at NolderC@sec.gov. Applicants should provide a copy of one or two relevant working papers or recently published articles. Application reviews for the 2016–2017 AcademicFellowships will begin as received and continue until March 31, 2016 or as needed. Interviews will be conducted at the SEC headquarters in Washington, DC. Candidates' interview travel expenses may not be reimbursed by the SEC.
To find out more about the experiences of previous Academic Fellows, see articles by Susan D. Krische, Roger D. Martin, and T. Jeffrey Wilks in Accounting Horizons(June 2013); Bjorn N. Jorgensen, Cheryl L. Linthicum, Andrew J. McLelland, Mark H. Taylor, and Teri Lombardi Yohn in Accounting Horizons (September 2007); Steve Kolenda and Patricia Fairfieldin the Financial Reporting Journal (Summer 2000); and Thomas J. Linsmeier in Accounting Horizons (September1996).
To discuss the nature of the fellowships and the outstanding professional development experiences they offer, you may contact the current Academic Fellow inthe Office of the Chief Accountant: Christine Nolder at NolderC@sec.gov.