Senior Accountant - Investments & General Accounting (Hybrid)
Our Accounting Department is seeking a new Senior Accountant of Investments & General Accounting to join their team!
At OceanFirst Bank, each one of our employees plays an important role in fulfilling the mission and taking responsibility to execute daily tasks in alignment with our core values. Together we foster an environment of respect, professionalism and diversity that makes OceanFirst a great place to work and do business.
Great benefits include: on-site fitness facility, hybrid schedule after initial onboarding has been completed (3 days in office, 2 days remote), employee perks & discount programs, tuition assistance, incentive compensation program, and more! Apply today to #BecomeOceanFirst and make an impact in the local community!
The Senior Accountant – Investments & General Accounting position is primarily responsible for accounting for the Company’s investment securities, borrowings portfolio, and certain aspects of loan accounting. This position maintains the general ledger for several associated subsidiaries and prepares monthly investment account reconciliations. This position also analyzes balance sheet and income statement variances and trends and assists with the preparation and submission of weekly, quarterly and annual regulatory/external reports.
ESSENTIAL DUTIES AND RESPONSIBILITIES:
- Responsible for the accounting for the purchase, sale, call, and maturity of the bank’s MBS, Corporate, Muni, and U.S. Government securities utilizing its investment portfolio accounting system.
- Responsible for the accounting for principal and interest (P&I) payments received, the monthly accrual of interest and the amortization/accretion of discounts/premiums on the securities portfolio.
- Obtains monthly pricing of the investment securities and performing the associated mark-to-market accounting entries.
- Boards all new securities on the portfolio accounting system, ensuring the necessary general ledger mapping for entries is correct, and maintaining the necessary pledge, regulatory and SEC coding for reporting purposes.
- Boards all new debt issuances, ensuring the necessary general ledger mapping for entries is correct, and accounting for monthly interest expense accruals and quarterly payments of principal and/or interest.
- Prepares daily, monthly and quarterly bank, general ledger and custodial reconciliations.
- Responsible for quarterly SOX control testing of P&I paydown factors, interest and amortization/accretion amounts, and quarterly investment securities roll forward.
- Oversees the transition of operations to a service provider, ensure complete and accurate data transfer, and develop and implement new processes and controls.
- Maintains the general ledger for the Bank’s investment securities, captive insurance subsidiaries, and other general ledger accounts including the preparation of journal entries, bank and general ledger account reconciliations, recording intercompany transactions and the associated eliminations, and analyzes balance sheet and income/expense trends as necessary.
- Monitors, on a daily basis, intercompany balance sheet and income statement balances, identifying, documenting and correcting differences.
- Assists in the preparation of monthly loan and deposit reports which are distributed throughout the Bank and used for ALCO, budgeting and strategic planning purposes.
- Assists in researching new or revised accounting and regulatory reporting changes, understanding the impact to the Bank and recommending appropriate changes.
- Assists the internal and external auditors by facilitating their quarterly review and year-end audit procedures.
- Assists in the preparation of weekly, quarterly and annual regulatory reports including the Call Report (FFIEC-041), FR2900, FR2644, FRY-9LP, FRY-9C, FRY-10, FRY-6, U.S. Census Department, HUD reports and other public filings.
- Provides back-up support for other senior accountant’s in the accounting department.
Knowledge, Skills & Abilities
- Knowledge of accounting concepts, practices, and procedures associated with investment securities (MBS, Corporates, Munis, Equity, and U.S. Government)
- Experience in preparing bank, general ledger, and off-balance sheet account reconciliations, and researching and clearing reconciling items.
- Proficiency in the MS Office suite of products, primarily Excel, and its analytical, formula, and financial functions (specifically V-Look-ups, Pivot Tables and Sum If formulas)
- Proficiency with a financial services related general ledger and investment portfolio systems, preferably Fiserv Prologue Financials and Investment Portfolio Accounting (IPA).
- Strong research, analytical, problem solving and communication skills.
- Ability to create ad-hoc reports from the bank’s general ledger, IPA, core and data repository systems.
- Ability to work in a team environment as well as independently. Ability to work in a fast-paced Accounting environment which has tight deadlines to Senior Management and the Company’s regulators including the Federal Reserve, OCC and FDIC.
- Attention to detail, control oriented and time management skills are essential.
Experience & Education
- Bachelor’s degree with a concentration in finance/accounting or related field.
- Minimum of 4-6 years of experience in accounting, preferably in banking.
- Prior experience with Fiserv products, including Prologue, IPA, and Premier, and core conversions, strongly preferred.
Internal and External Contacts
- Internal contact with department and senior managers on accounting, finance, investments, borrowings and other related subjects.
- External contacts are occasional, related primarily to regulatory reporting issues and questions and service providers.
Working Conditions/Physical Requirements
Hybrid schedule of office and remote environment. Ability to operate computer. Ability to communicate in order to exchange simple to complex information with individuals and groups. Ability to travel throughout Bank footprint.
Equal Opportunity Employer
Minorities/Females/Veterans/Individuals with Disabilities/Sexual Orientation/Gender Identity
For Recruiting Agencies
OceanFirst Bank does not accept agency resumes submitted by third-party vendors unless a valid agreement has been signed and the OceanFirst Bank Talent Acquisition Team has granted authorization for submissions regarding a specified position. Please do not forward resumes to us, OceanFirst Bank employees or any other company location. OceanFirst Bank is not responsible for any fees related to unsolicited resumes.