The Accounting Specialist performs all activities within the loan servicing Accounting Department and provides support to loan servicing personnel. This includes the daily balancing of loan servicing cash flow, system balancing, funds transfers, wire transfers, and bank reconcilements. Additional duties include posting of journal entries, month end general ledger adjustments, processing of check and deposit requests for all bank accounts, and monitoring and transferring of funds for daily corporate investment.
The Accounting Specialist is expected to maintain a thorough understanding of loan cash flow and the loan accounting function, allowing him/her to prepare monthly management reports; to manage and reconcile complex bank accounts; and to manage and reconcile the Bank's various loan-related general ledger accounts. This individual must maintain sound financial controls at all times and ensure compliance with applicable regulations and Bank procedures.
*Associates Degree in Accounting or Business related field preferred, or commensurate Accounting experience required.
*Working knowledge of loan accounting and loan systems preferred.
*Must have excellent mathematical and analytical skills.
*Must have excellent written, verbal, and interpersonal communication skills.
*Must possess the ability to perform complex reconcilements to minimize account outages and work with other departments to resolve reconciling items in a timely manner.
*Must be able to organize and manage work load efficiently, to allow for timely completion of assigned duties and assisting other staff members.
*Must have intermediate knowledge of Microsoft Office including Word and Excel (testing will be administered)
*Ensure all funds and loan payments are accounted for, processed, and balanced in the loan servicing system. Investigate and correct any out-of-balance situations.
*Ensure proper amounts are transferred to applicable bank accounts.
*Process transactions, including check requests / transfer requests / deposit requests / wire requests, in a timely manner.
*Prepare and post general ledger entries; monitor the general ledger accounts and reports.
*Conduct reconcilements of corporate bank accounts, general ledger accounts, and/or system activities on a daily, weekly, or monthly cycle as appropriate.
*Prepare and submit account payables to Corporate Accounting.
*Reconcile cash receipts on loan sales and prepare/post all loan sale entries.
*Post fees to loan servicing system.
*Monitor and process Line of Credit card activities, including account reconcilements to assure proper funding of clearing account.
*Work with Senior Management on budget preparation and monthly monitoring of variances.
*Monitor outstanding checks to ensure compliance with unclaimed fund requirements and work with designated individual(s) to file reports in a timely manner.
*Respond to inquiries from corporate, loan servicing, and administrative departments, as well as outside entities.
*Research and resolve problems as they occur to maintain sound controls and prevent problems from compounding.
*Actively seek opportunities to improve process efficiencies and communicate ideas to effect change.
Nothing in this job description restricts management's right to assign or reassign duties and responsibilities to this job at any time.