ACCOUNTING SPECIALIST

Description

ACCOUNTING SPECIALIST

POSITION SUMMARY: This position is responsible for partnering with the Controller to ensure the routine operations of the accounting department are performed on an accurate and timely basis. This person is responsible for the day-to-day transactions, account reconciliations, variance analysis and preparing the regulatory reporting accurately.

This Role Is Accountable For

• Monthly financial reporting
• Reconciliation of general ledger accounts
• Processing other settlements and reports.
• Administering accounts payable and payroll
• Supports audits, exams and regulatory reporting
  
  

Accountability/Responsibilities

Monthly financial reporting

• Prepare monthly financial reports by compiling and downloading core system data through financial reporting system, identifying, and resolving discrepancies.
• Makes accurate accounting entries for income and expense accruals, prepaid expenses, and fixed assets to support closing the accounting books monthly by the 4th business day.
• Assists in development of budget vs. actual variance reports
  
  

Reconciliation of general ledger accounts

• Downloads and migrates all General Ledger accounts to a reconciliation data set.
• Review transactions and reconcile various internal and correspondent bank accounts daily and monthly.
• Reconcile the factoring programs daily to ensure the cash is accurately re-flected on the general ledger and subsidiary ledgers.
• Identify errors or omissions among transactions with supporting documentation.
• Reconciles and resolves discrepancies and analyzes variances to make proactive and timely corrections.
  
  

Processing other settlements and reports.

• Processes investment purchases and reconciles security settling process and monthly accounting entries.
• Calculate and process loan participation transactions daily, communicating with participant banks as needed.
• Post entries to maintain the cash position for ancillary programs such as DDM, Corserv, and all external lease partners.
• Research and resolve transaction discrepancies as needed and input corrections on core processing system.
• Prepares and submits collateral pledging reports for investments and loans with an in-depth understanding of the requirements of each program.
• Prepares daily entries between the factoring divisions and the core general ledger.
  
  

Administering accounts payable and payroll

• Ensures incoming invoices get into accounts payable system timely and accurately posted to the correct expense account.
• Ensures all invoices are approved by appropriate staff and support provided meets IRS regulations.
• Conducts monthly reconciliation of AP total expenditures.
• Ensures all 1099 reporting is accurately reported by the deadline established by Fiserv.
• May assist in payroll processing and reconciliation.
  
  

Supports audits, exams and regulatory reporting.

• Prepares reports and documentation in support of audits, year end and tax processes, and regulatory examinations.
• Supports the preparation of the quarterly Call Report.
• Provides support in ad hoc analysis and report creation.
  
  

Team Accountabilities

• Delighting my customers
• Giving my all
• Creating a great place to work
• Making improvements
• Keeping us compliant
  
  

Supervision

This role does not have supervisory or other work direction responsibility over other employees.

Other Duties

Please note this job description is not designed to cover or contain a comprehensive listing of activities, duties or responsibilities that are required of the employee for this job. Duties, responsibilities, and activities may change at any time with or without notice.

Requirements

EDUCATION, EXPERIENCE, AND SKILLS

• High school diploma required; Bachelor’s degree preferred
• Prior experience in a financial services organization is a plus
• MS Excel and Word skills
• Ability to identify and resolve exceptions and to interpret data
• Workload Management – ability to effectively manage multiple projects and deadlines
• Detail Orientation – Ability to thoroughly and effectively maintain quality review, maintenance, and update of multiple sets of complex information
• Inquisitiveness – possessing a natural curiosity and drive to find answers to puzzles and problems that provide insight and answers to questions or problems
• Interpersonal Skills – ability to establish and cultivate trusting professional working relationships