Financial Accountant (Banking), New York

Overview

Financial Accountant (Banking)
Location: New York, NY

Job Summary:
The accountant reports to the CFO / Head of Finance Department and is responsible for expense management, fixed assets management, account
reconciliations, certain aspects of reporting as well as design and implementation of process improvement initiatives related to these functions. The accountant also provides necessary daily support to the department and the CEO and backs up other Finance activities. The incumbent of this position shall be responsible for adhering to the provisions stated in the Employee Accountability Policy Statement.

Essential Functions & Accountabilities:
Operating Expense Management

• Accountable for job performance actions, which includes decision(s)impacting position responsibilities conforming to the bank’s risk appetite and tolerance levels as articulated in the banks Risk Appetite & Tolerance Framework, mitigating violations or breaches to the bank’s risk appetite in the exercise of their empowerment and the achievement of desired job performance outcomes as directed by Management.
• Accounts payable: Manage the accounts payable function, including processing payment of all invoices in a timely manner.
• Expense policies and procedures: Manage accrual, prepaid expense and accounts payable policies, including amending procedures as required and maintaining quality up-to-date documentation.
• Expense analysis: Primary responsibility for analysis of expenses, including breakdown of historical spend, trend analysis and budget variances analysis. Respond to inquiries related to expenses with quick TAT.
• Expense budget: Primary responsibility for preparation of the annual expense budget, including presenting historical data to departments and performing analytical review on their submissions.
• Transparency: Ensure maximum transparency in the accounting records for expenses, including design of chart of accounts, GL entry narratives and QuickBooks field input – with a view to reduce TAT for inquiries and analysis.
• Tax information reporting: Prepare 1099s, respond to external requests, maintain records for all vendors and ensure receipt of W-9s from all new vendors.
• Process improvements: Primary responsibility for identification and initiation of process improvement requirements related to expense management, including but not limited to transition to the Paperless platform, converting the QuickBooks database so it supports expense analytics, expense account reconciliation and sales tax reporting.

Fixed Assets Management

• Reporting: Ensure correct posting of asset acquisitions, disposals and depreciation in the GL; produce roll forward schedules as required.
• Capital budget: Prepare annual capital expense and depreciation budget; monitor capital project spends through collaboration with other departments.

Account Reconciliation

• Nostro reconciliation: Perform daily reconciliations of nostro accounts.
• Account reconciliations: Prepare proofs and reconciliations of GL accounts as per Finance policy; Identify, document and ensuring clearing of reconciling items on a timely basis.

Reporting

• Daily reporting: Produce certain daily reports including currently the daily CED/Due to & from HO report, and other distributions required by the bank. Work with IT and Group Finance to strive to replace these distributions with automated solutions wherever possible.
• Financial close: Support the Controller in the daily, month-end and year-end financial close processes, including journal entry preparation, general ledger review etc.
• Requirements:
  • Minimum 3 years’ experience in banking; foreign bank experience a plus
  • Experience in bookkeeping with demonstrated experience in multiple areas of finance and accounting.
  • Minimum bachelor’s degree with a concentration in accounting and/or finance.
  • Knowledge of accounting principles and practices as applied to U.S. financial institutions.
  • Strong MS Office skills, proficient in Excel and PowerPoint.
  • Banking experience a must

  Salary:
  Depending on experience & skill
  ($80,000 – $90,000)

   

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Job Type:Full Time