GL Accounting Coordinator II - Securities

Salem Five is a growing regional financial services organization with a rich history of over 160 years. As an independent bank, we are deeply rooted in the communities we serve and offer our employees successful and rewarding careers.

This position requires the ability to work in the Salem, MA offices.

Salem Five has more than 30 retail banking branches throughout Essex, Middlesex, Norfolk and Suffolk counties, strong business banking capabilities, an Insurance division, a Wealth Management & Trust organization and a Mortgage Company that has provided homeownership to generations of families.

Salem Five believes deeply in supporting the communities in which we reside. Donations through our Charitable Foundation or events at the branch or location-level are an important part of our DNA. We would not be the company we are without our commitment to businesses and organizations that help the region thrive and to our employees. Come see what we're all about.

ESSENTIAL DUTIES AND RESPONSIBILITIES include the following. Other duties may be assigned.

• Perform certain month-end activities for Bank subsidiaries, as assigned.
• Reconcile Bank's Federal Reserve Account on a daily basis. Initiate action to ensure the proper disposition of all items affecting the Bank's clearing account. This involves constant interaction with other departments, outsourced core computer processor and the Federal Reserve Bank.
• Prepare Board of Investment Quarterly Report, including gathering of sensitive and critical information from other areas and review of data for accuracy.
• Maintain Investment Securities subsidiary ledgers on Bank and Security Corporations for sizeable and active portfolios. Post all payments, purchases and sales on a timely basis. Maintain accurate records and file of all transactions.
• Securities - Month End entries and reports. Verify the accuracy of amortization / accretion and accruals on the Bank and Security Corporations before closing to ensure proper income recognition.
• Download monthly stock position detail from Fidelity and compare to market values on IPA to determine and maintain accurate recordkeeping and reporting.
• Download specific investment data files for use in Excel reports. Prepare MBS report for CFO on a monthly basis.
• Monitor internal controls of Securities transactions through the use of external confirmations. Alert management if any undocumented or improper transactions are discovered.
• Perform monthly audit of stock transactions comparing general ledger records to reports produced for the Board. Communicate any discrepancies to Executive Assistant for correction.
• Perform month-end reconciliation of various general ledger accounts. Initiate necessary actions to resolve all outstanding items.
• Report and remit sales / use tax to the state on a monthly basis.
• Perform month-end closing for Salem Five Investment and Salem Five Insurance, including check deposits, general ledger entries, month-end posting. Review income statement and balance sheet for month-to-month variances and accuracy. Research and correct any errors before presenting final reports to VP-Accounting and SVP-CFO.
• Circulate month-end run of general ledger histories to all departments and subsidiaries to aid in their reconciliation processes.
• Perform as capable backup for numerous other accounting functions.
• Assumes additional responsibilities as requested.
• Demonstrates compliance with banking business laws and regulations as defined in company policies and procedures pertinent to the position.

EDUCATION and / or EXPERIENCE :

Associate's degree (A. A.) or equivalent from two-year college or technical school; or six months to one year related experience and / or training; or equivalent combination of education and experience. Working knowledge of computer spreadsheets such as Microsoft Excel.

Ability to calculate figures and amounts such as discounts, interest, commissions, proportions, percentages, area, circumference, and volume. Ability to apply concepts of basic algebra and geometry. Ability to read and interpret documents such as safety rules, operating and maintenance instructions, and procedure manuals. Ability to write routine reports and correspondence. Ability to speak effectively before groups of customers or employees of organization.

PHYSICAL DEMANDS : The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. While performing the duties of this job, the employee is regularly required to sit and use hands to finger, handle, or feel. The employee is occasionally required to stand, walk, and talk or hear. The employee must occasionally lift and / or move up to 10 pounds. Specific vision abilities required by this job include close vision.

Benefits / Incentives : Health Insurance, Dental, Vision, Flexible Spending Account, Health Savings Account, 401k Matching, Tuition Reimbursement, Employee Referral Program, Summer Family Outing, Annual Holiday Reception and more

Salary Range : Competitive Base

Ready to apply ? If this job sounds like a fit for you, then click on Apply / Apply Now in this posting. We look forward to talking with you.

Qualified candidates may also submit a resume and application online at salemfive.com / careers or mail your resume to Human Resources, 210 Essex Street, Salem, MA 01970.

Equal Opportunity Employer / Protected Veterans / Individuals with Disabilities

The contractor will not discharge or in any other manner discriminate against employees or applicants because they have inquired about, discussed, or disclosed their own pay or the pay of another employee or applicant. However, employees who have access to the compensation information of other employees or applicants as a part of their essential job functions cannot disclose the pay of other employees or applicants to individuals who do not otherwise have access to compensation information, unless the disclosure is (a) in response to a formal complaint or charge, (b) in furtherance of an investigation, proceeding, hearing, or action, including an investigation conducted by the employer, or (c) consistent with the contractor's legal duty to furnish information. 41 CFR 60-1.35(c)