The successful candidate in this position will play a key role in executing the mission of the Accounting and Financial Reporting (AFR) department. More specifically, this individual will be responsible for completing complex processes within the accounting function, leading the preparation of internal/external financial reporting requirements, and serve as the control point for the treasury function. Work involves moderate difficulty in completing research and analysis to facilitate the accounting and financial reporting processes, proactively identifying and implementing process improvements, and ensuring that proper controls are in place and operating as designed. Resources to do the job require reliance on previous accounting experience, the ability to understand and apply GAAP, the ability to interpret and clearly explain financial information, and the ability to problem-solve and identify process improvement opportunities. Direct supervision is received from the Manager – Financial Reporting.
Accounting / Month-End Close
- Responsible for the cradle-to-grave accounting of the credit union’s investment portfolio in accordance with GAAP. This includes the administration and maintenance of the credit union’s investment accounting software.
- Responsible for the monthly loan loss provision and related allowance for loan losses account. This includes the continuous review of the loan loss methodology to ensure we stay in compliance with GAAP and regulatory guidance and are following “best practice".
- Responsible for the monthly review and analysis of net interest income and non-interest income to ensure the proper accounting and to identify and explain significant variances to plan and/or trend.
- Supports month-end close process including preparing/reviewing journal entries and completing assigned balance sheet reconciliations within set timeframe.
- Assist with all aspects of the organization’s internal and external financial reporting processes such as the quarterly call report, monthly board package and investment reporting.
- Lead the weekly filing of the Federal Reserve 2900 reporting
- Ensure the financial results are accurately reported in compliance with GAAP, regulatory rules and guidelines, and corporate policy and procedures.
- Interpret and explain financial information to management. Map the general ledger accounts to the appropriate line items on the internal/external financial statements and regulatory filings.
Project Management Responsibilities
- Continuously assesses accounting and reporting processes to improve efficiency through automation or streamlining of processes. Work with cross-functional peers to develop and implement appropriate process improvement initiatives.
- Responsible for the integrity of the accounting and financial reporting processes, ensuring that the proper controls are in place and operating as designed. Also, responsible for reviewing and updating the documentation of the processes on a regular basis.
Completion of a Bachelor’s degree in Accounting or Finance and 5-8 years financial accounting and reporting experience. CPA and/or MBA preferred. Experience with a Big 4 or mid-tier public accounting firm and/or SEC reporting experience highly desirable. Previous SOX experience also desirable. Thorough knowledge of GAAP required. Extensive financial analysis skills required, including variance analysis, forecasting, budgeting, and financial modeling. Ability to multi-task and deal with heavy volume period with tight time parameters. Must possess strong analytical, written and oral communication skills, and above average judgmental capabilities. Proficiency with Microsoft Office required (Advanced Excel, Word, Powerpoint), experience with mainframe accounting systems and computer literacy. Ability to work effectively with associates at all levels within the organization.