FHLBanks Office of Finance
Rachel Erickson, CPA, currently serves as Accounting Policy Lead at FHLBanks Office of Finance, providing expert-level accounting and reporting support for the capital markets agent of the FHLBank System since January 2019. Rachel has extensive experience in accounting policy and revenue recognition, having previously held senior positions at Leidos, Booz Allen Hamilton, and Freddie Mac, where responsibilities included leading ASC 606 implementation, managing technical accounting guidance, and overseeing financial reporting compliance. Earlier experience at Ernst & Young involved managing audit engagements across various industries. Rachel holds a BS in Accounting from George Mason University.
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FHLBanks Office of Finance
Located in Reston, Virginia, a suburb of Washington, D.C., the Office of Finance (OF) is operated on behalf of the 11 regional FHLBanks. Its primary function is to issue and service all debt securities for the FHLBanks, while obtaining the most cost-effective terms possible given current market conditions. Related activities include the compilation and publication of the combined financial statements, analysis and joint development of new funding opportunities, and educational outreach to inform investors and other interested parties about FHLBank debt products. These efforts can include investor road shows, sales conferences, adopting dealer/FHLBank recommendations, preparing brochures and educational materials, and enhancing the Office of Finance website. The OF also provides the FHLBanks with credit and general capital market information/data, and manages the relationship with the credit rating agencies. In addition, the OF administers two tax-exempt government corporations, the Financing Corporation (FICO) and the Resolution Funding Corporation (REFCORP).