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Accounting Specialist Consumer Loans
Job Summary
The Consumer Loan Accounting Specialist is responsible for performing accounting functions required to support the Consumer Lending business lines. This role is also responsible for assisting the Accounting Department as needed with daily activities in the monthly analysis of the corporate balance sheet and income statement and various corporate accounting functions, in addition to performing ad-hoc analysis as requested by management. The position also assists in preparing certain reports and filings, responding to various regulator and internal and external auditor queries, and may contribute to special projects and initiatives as opportunities arise.
Position Responsibilities:
Consumer Loan Operational Accounting
Analyze, prepare, and review with business unit General Ledger (GL) entries for accruals and actuals for consumer loan and retail lending product offerings.
Provide routine support to the Consumer lending team (CLC) while gathering data from multiple sources to deliver relevant financial overview.
Monitor daily settlement and Aging reports (both DDA and GL), including overdrafts, and analyze and prepare clearing entries as necessary.
Research and process for appropriate accounting recognition in the GL customer and vendor billings and/or reimbursements, other ad hoc requests for payments, and internal DDA activities for consumer settlement or payments activities.
Partnering/Monthly Reporting
Conduct analysis and research accounting questions in assisting with the development of accruals and plan to actual variances.
Perform analysis of income and expense accounts, including analyzing trends and identifying and investigating large variances. Provide management with monthly, quarterly, and year over year income and expense variance explanations for month end close meeting.
Support SEC and Regulatory Financial Reporting Responsibilities for consumer loan activities. This includes liaison with CLC operational teams to accommodate reporting needs.
Maintain open communication and working relationships with internal stakeholders and colleagues throughout the bank. Communication involves all levels of bank personnel.
Special Projects Coordinator
Serve as key contact for Consumer Loan Accounting on system or process transformation initiatives.
Liaise with the Consumer Lending and Business Finance teams to build accounting and reporting tools to support financial assumptions.
Proactively identify opportunities to create operational efficiencies.
Assist with implementation of automating certain processes or using advanced analytics to effectuate more efficient accounting and reporting processes.
Technical Accounting, Compliance Risk and Support
Stay abreast of accounting developments and work closely with others in the Accounting Department to apply technical and industry guidance as needed to the consumer loan accounting team.
Develop a functional understanding of banking and financial services industry processes/topics and accounting implications.
Assist the Accounting Department with updates to procedures and documentation of accounting processes and workflows, including the design and implementation of internal controls to provide quality assurance over reported data.
Assist the Manager in responding to information and documentation requests from internal and external auditors for consumer loan accounting impacted areas of review.
Cross train/perform daily functions (as deemed necessary) to ensure coverage of critical processes during other team members PTO.Position Qualifications:
Bachelor's Degree from an accredited university in Accounting or Management or 7 years of financial services industry/loan accounting specific experience.
2 years of accounting experience
2 years of analytical experience
2 years of experience
