Accounting Analyst

Job description

ICICI Bank Limited, New York Branch is a foreign bank branch licensed by the Office of the Comptroller of the currency.

ICICI Bank Limited, New York Branch will leverage its strong domain understanding of the Indian market to offer high quality, tailor-made financial solutions to large corporations and growing businesses across the United States of America. Besides New York Branch, ICICI Bank also has two representative offices in Texas and California to provide customer services for our customers.

ICICI Bank is India's largest private sector bank . ICICI Bank currently has a network of 5,900 Branches and 16,650 ATMs and cash recycler machines across India.

ICICI Bank offers a wide range of banking products and financial services to corporate and retail customers through a variety of delivery channels and through its specialized subsidiaries in the areas of investment banking, life and non-life insurance, venture capital and asset management.

The Bank has a global presence in several jurisdictions including Hong Kong, Singapore, United States, United Kingdom, Canada, China, Dubai International Financial Centre and Bahrain.

Job Overview
We are seeking a highly motivated and skilled Accounting Analyst to join our dynamic team. The ideal candidate will play a crucial role in supporting the overall management of the organization, ensuring effective operations and strategic growth. This position requires a strong background in business development, financial management, and strategic planning, enabling the Deputy Manager to contribute significantly to the company's objectives.

Job Purpose:

The incumbent is responsible for handling day-to-day accounting and reporting activities of ICICI Bank US Branch including bank and GL reconciliations and assisting with the preparation of financial statements, returns and reports for filing with the parent bank and regulators. The position is responsible for accounts payable processing and vendor/ employee payments including handling related enquiries, bank accounts reconciliations, investigate GL, and pass correction GL entries into books. The incumbent is also required to maintain good knowledge of all routine finance and accounting procedures and to provide assistance by performing other accounting related functions, as required.

Area of Responsibilities

1. Perform accounts payable functions, including:

• Record receipt of invoice with date-stamp and payments with paid stamp
• Check accuracy of invoice, relevance and ensure goods/services and ensure timely payment to avoid late payment charges
• Codify general account number and prepare the necessary entries.
• Obtain appropriate approval on all invoices before payment.
• Payment processing of all vendors through ACH or wire transfer and generate a payment batch for Finance Head approval.
• Enter in I-Core system all payment entries for posting.
• Maintain an effective filing system for all expenditures to prevent duplicate payments, facilitate payment inquiries and various internal & external audits.
• Preparation and timely filing of various regulatory reports and tax filings (sales & use tax return, commercial rent tax returns, Form 1099 & 1042).
• Post official checks and other mails related to tax filings and vendors.
• Staff expense reimbursements and process of rent for all properties
• Label and update log for filing daily/month-end reports, accounts payable files, as appropriate and move to appropriate storage.

2. Assist the Finance Head with the following reports:

• Financial statements, in accordance with US and Indian GAAP.
• Preparation of monthly and quarterly variance analysis, financial statement schedules and various MIS reports for submission to the management committee and the Parent Bank.
• Assist in ensuring adherence to accounting & corporate policies and procedures, and maintenance of integrity and accuracy of all accounting records

3. Perform month-end closing processes, including:

• Preparation and recording of journal entries in I-Core and SAP system for monthly close process.
• Maintain prepaid amortization schedule and prepare journal entries for the month-end amortization.
• Maintain Fixed Assets register and monthly update of Fixed Assets in SAP for payments made on account of capital expenditure including calculation of monthly depreciation schedule for verification of Finance Head.
• Prepare depreciation and expense accrual schedules.

4. Preparation of the periodic Accounts Payable and other GL accounts reconciliations, ensuring the accuracy of G/L accounts, reflecting the balances in the Nostro accounts. Investigation of unreconciled items and out-of-balance situations. Follow-up with operations to clear the items and prevent a backlog of unreconciled items. Refer all unusual items to the Finance Head.

5. Handle vendor and other staff queries on day-to-day basis regarding expense claims/payments or others. Development of good working relationships with members of other departments in US and other geographies.

6. Assist in management of the Bank’s quarterly process for review and update of internal controls process flowcharts, testing and documentation, using SOAx system.

7. Other duties as assigned from time to time.

If you require accommodation measures during any phase of the hiring process, please notify us as soon as possible. All information received in relation to accommodation requests will be kept confidential

Job Type: Contract

Ability to Commute:

• New York, NY (Required)

Ability to Relocate:

• New York, NY: Relocate before starting work (Required)

Work Location: In person