Position Summary
The Accounting Manager is responsible for overseeing the daily accounting functions of the Credit Union and ensuring the accuracy, integrity, and timely reporting of financial information. This position manages general ledger activities, fixed assets reporting, maintaining prepaid expense reconciliations, account reconciliations, accounts payable, financial reporting, and other accounting processes while maintaining appropriate internal controls and compliance with applicable accounting standards and regulatory requirements.
The Accounting Manager works closely with the Chief Financial Officer (CFO) and other members of management to support the financial operations of the Credit Union and provides direct supervision, training, and oversight to the Accounting Clerk. The Accounting Manager is responsible for reviewing the Accounting Clerk's work, providing appropriate backup and support, and ensuring that daily and monthly accounting responsibilities are completed accurately and timely.
Essential Duties and Responsibilities
- Oversee the daily operations of the Accounting Department and ensure accounting activities are completed accurately and timely.
- Maintain the integrity and accuracy of the Credit Union's general ledger.
- Review and approve general ledger entries, reconciliations, and other accounting transactions.
- Oversee daily, monthly, quarterly, and year-end accounting processes and financial close procedures.
- Prepare and/or review monthly financial statements and management reports.
- Review balance sheet and general ledger account reconciliations and investigate unusual or outstanding items.
- Oversee accounts payable, including invoice processing, approvals, payments, and vendor records.
- Monitor cash accounts, correspondent accounts, investments, and other financial accounts as assigned.
- Assist the CFO with budgeting, forecasting, financial analysis, and monitoring actual results against budget.
- Assist with preparation of regulatory financial reports, including the NCUA Call Report and other required filings.
- Assist with Asset Liability Management (ALM), liquidity monitoring, investment accounting, and other financial management functions as assigned.
- Assist with the Credit Union's Allowance for Credit Losses (CECL) process, including accounting entries, reconciliations, reporting, and supporting documentation.
- Maintain accounting policies, procedures, and internal controls designed to safeguard Credit Union assets and ensure accurate financial reporting.
- Ensure accounting practices are consistent with generally accepted accounting principles (GAAP) and applicable regulatory requirements.
- Coordinate accounting information and documentation requested by external auditors, internal auditors, examiners, and other third parties.
- Assist with annual audits and regulatory examinations and respond to accounting-related findings and recommendations.
- Research accounting discrepancies and unusual transactions and recommend appropriate corrective action.
- Review accounting processes and recommend opportunities to improve efficiency, accuracy, automation, and internal controls.
- Establish priorities, assign responsibilities, monitor performance, and ensure departmental deadlines are met.
- Serve as a resource to other departments regarding accounting procedures and financial information.
- Maintain confidentiality and protect sensitive member, employee, and Credit Union financial information.
- Assist the CFO with special projects, financial analysis, strategic initiatives, and other duties as assigned.
- Manage Accounting clerk
Supervisory Responsibilities
The Accounting Manager directly supervises the Accounting Clerk and is responsible for the employee's training, development, work assignments, performance, and day-to-day supervision. The Accounting Manager ensures the Accounting Clerk's work is completed accurately and timely and in accordance with established Credit Union policies, procedures, and internal controls.
The Accounting Manager is responsible for maintaining appropriate segregation of duties between Accounting Department employees and ensuring adequate cross-training and backup coverage for critical accounting functions.
Education and Experience
Bachelor's degree in Accounting, Finance, Business Administration, or a related field preferred.
A minimum of five years of progressively responsible accounting experience is preferred, including experience with general ledger accounting, reconciliations, financial reporting, and internal controls.
Credit union, banking, or other financial institution accounting experience is beneficial but not required.
CPA, CMA, or other relevant professional designation is beneficial but not required.
Knowledge, Skills, and Abilities
The Accounting Manager should possess:
- Strong knowledge of accounting principles and financial reporting.
- Understanding of GAAP and financial institution accounting practices.
- Strong analytical and problem-solving skills.
- Excellent attention to detail and accuracy.
- Ability to analyze financial information and identify unusual trends or discrepancies.
- Strong organizational and time-management skills.
- Ability to manage multiple priorities and meet deadlines.
- Strong leadership and employee-development skills.
- Proficiency with Microsoft Excel and accounting/financial reporting systems.
- Ability to communicate financial information clearly to management and employees.
- Ability to maintain a high level of confidentiality and professional judgment.
- Ability to work independently while effectively collaborating with other departments and management.
Performance Expectations
The Accounting Manager is expected to ensure that financial records are accurate, reconciliations are completed timely, financial reports are reliable, accounting controls are maintained, and departmental responsibilities are completed according to established deadlines.
The Accounting Manager is also expected to continually look for opportunities to improve accounting processes, strengthen internal controls, increase efficiency, and support the overall financial strength and success of the Credit Union.
Reporting Relationship
Reports To: Chief Financial Officer (CFO)
Directly Supervises: Accounting Clerk
Other Duties
This job description is not intended to be an exhaustive list of all duties, responsibilities, or qualifications associated with the position. Responsibilities may be modified or expanded based on the operational needs of the Credit Union.
Benefits:
- 401(k)
- 401(k) matching
- Dental insurance
- Health insurance
- Vision insurance
Work Location: In person
