Accounting Associate, Reconciliations

The Accounting Associate – Reconciliations reconciles every general ledger account on the balance sheet per assigned schedules to ensure accurate financial reporting and to identify any exceptions or out of balance conditions.  Reconcilers will work closely with the loan and deposit operations employees to promptly clear any errors that may impact customer accounts.   Reconcilers are also conscious of correcting items posted to the general ledger that may impact accuracy in financial reporting, especially for quarter-end SEC and regulatory reporting periods.  They will be tasked with helping with the implementation of new initiatives, abiding by bank policies and fraud identification, assisting with information requests for management, auditors and regulators, striving for accuracy, promptness and documentation retention, and promoting a culture of cooperation throughout the organization.

What You’ll Do at Live Oak

• Perform timely and accurate reconciliations of balance sheet general ledger accounts in accordance with assigned schedules.

• Reconcile Securities Safekeeping statements quarterly.

• Maintain complete and well-organized reconciliation documentation in compliance with record retention requirements.

• Ensure all reconciliations meet established completeness and accuracy standards.

• Investigate, resolve, and follow up on outstanding items and exceptions identified during the reconciliation process.

• Prepare documentation requests from management, external accountants, internal auditors and regulators as needed.

• Reconciles the Workday general ledger with the Premier and Finxact core systems on a weekly basis.

• Perform monthly review to confirm internal bank accounts are properly recorded and reflected in reconciliation software.

• Serve as a resource for other departments by addressing reconciliation-related inquiries and providing support as needed.

• Assists in preparation of assigned quarterly SEC reporting schedules.

• Performs other duties and special projects as required.

How You’ll Do It           

• Have enthusiasm for accuracy and proficiency in your duties.  Multi-task well and be aware of deadlines.

• Consistently demonstrate the courage to do what’s right for the business and those you work with.

• Always show respect to others. Respect of privacy and confidential information. Be tactful in discussions with others. Respect for all rules and regulations.

• Function as a team and realize all members of the team are vital to its success.

• Own your actions and strive to influence events and to achieve goals. See opportunities and act on them.

• Have responsibility for following regulatory requirements including those pertaining to the Bank Secrecy Act (BSA), Anti-Money Laundering (AML), Customer Identification Program (CIP), and OFAC to assist in the identification, detection and determent of money laundering or other unlawful activities.

• Display the highest standards of personal and professional conduct and fully support organizational standards and values.

Preferred Experience

• Bachelor’s degree in Accounting, Finance or Business 

• 3+ years Accounting experience, prefer experience in the Financial Service industry.

• Proficiency in computer software packages (i.e., Microsoft Office, Power Point, etc.), with emphasis on spreadsheets and charts

• Knowledge of standard accounting practices

• Knowledge of bank policies, procedures and criteria

• Detail oriented, high level of ownership and accuracy

• Excellent customer service and interpersonal skills

• Sound judgment

“The above statements are intended to describe the general nature and level of work being performed by the incumbent assigned to this classification.  They are not intended to be construed as an exhaustive list of all responsibilities, duties and/or skills required of all personnel so classified.”