Incumbent will focus on Merger and Acquisition (M&A) technical accounting as well as M&A analysis for the credit union and will be integral in successfully executing on the bank critical Mergers and Acquisitions (M&A) strategy. The M&A Accounting Manager must have strong interpersonal skills to support and manage sensitive, highly visible work for the bank. The M&A Accounting Manager, as an overall member of the Accounting team, is responsible for assessing and facilitating the preliminary complex accounting impact of identified prospective target company as well as the financial analysis and risk assessment due diligence for the accounting team. The M&A Accounting Manager will lead general ledger conversion, consolidation, reporting and planning, and completing Day 1 and maintaining Day 2, post-merger, complex accounting for M&A transactions and integrations. The M&A Accounting Manager will interact and work closely with various departments and cross-functional teams to complete these job responsibilities. In addition, the M&A Accounting Manager will be responsible for tracking costs associated with M&A transactions and profit/loss once acquired.
A merger is a complex process, and the responsibilities of the M&A Accounting Manager is dependent on the transactional process stages and the number of transactions that occur concurrently. The M&A Accounting Manager must be highly dynamic with the ability to adapt to rapid changes and handle a wide range of responsibilities as needs arise.
ESSENTIAL JOB FUNCTIONS
- Assess preliminary complex accounting impact of an identified prospect to include deal price, fair value of balance sheet, and proforma financial statements
- Complete accounting due diligence to include but not limited to review of balance sheet and income statement as well as other relevant accounting activities to identify weaknesses and potential deal breakers
- Lead the accounting conversion and integration of M&A to include the general ledger and purchase accounting (i.e. loans, core-deposit intangibles (CDI), goodwill, etc.)
- Collaborate with cross-functional areas and third-parties where applicable to optimize the accounting processes/procedures for M&A transactions for legal day one, during interim (i.e. between legal day one and core conversion) as well as for post-acquisition integration and ongoing purchase accounting activities (i.e. loans, goodwill) in compliance with US GAAP standards
- Responsible for documentation of M&A policies, processes/procedures and controls
- Responsible for all ongoing Day 2, post-merger, technical accounting such as loan purchase accounting, goodwill amortization and impairment analysis, CDI amortization, etc.
- Serves as Work Stream lead for Accounting team
- Tracking of all costs associated with each M&A transaction as well as monitoring ongoing profit/loss of each specific M&A once acquired.
JOB KNOWLEDGE, SKILLS & ABILITIES
The following knowledge, skills and experience and are required for this position:
- Demonstrated track record of superior academic and work performance; demonstrated commitment to outstanding results
- Very strong analytical, comprehension and problem-solving skills, as well as strong verbal and written communication skills
- Demonstrates an understanding of the mergers and acquisition process, purchase accounting (Day 1 and Day 2) as well as exposure to general ledger conversion and implementation processes
- Ability to master new tasks quickly
- Avid and positive team player who works well across a multi-disciplined organization
- Ability to work with both accounting and non-accounting professionals
- Ability to work independently and is a self-starter
- Proven accounting research skills
- Dedication to teamwork, demonstrated leadership and strong personal integrity
- Proficiency in Microsoft Office with a focus on Word, Excel and PowerPoint
- Ability to prioritize tasks, work on multiple assignments and manage rapidly changing assignments in a team environment
- Exhibits flexibility and willingness to take on new responsibilities and assignments
- Ability to understand regulatory and GAAP compliance accounting issues and incorporate them into accounting functions
- Flexibility to travel, as needed