Accounting Officer

Accounting Officer at Somerset Trust Company Accounting Officer at Somerset Trust Company in Somerset, Pennsylvania Posted in 4 days ago.

Type:

Full-Time Job Description:

• While posted for the Somerset location, this position can also be considered within other available locations & offices within Somerset Trust Company.

Summary This position is responsible for a variety of finance and accounting duties including general ledger processing, fixed assets, lease accounting, management reporting and required regulatory filings. Performs other accounting related functions as necessary. Analytical and problem-solving skills, decision making ability, and proficiency with technology such as Microsoft Excel, is critical to success in this role. EssentiAl Duties and Responsibilities

• Responsible for maintaining the bank's general ledger and accounts payable systems. This function requires the monitoring of all systems and assuring that the systems are operating in the latest version. Included in this function is the dissemination of all changes to the users when system enhancements are initiated.
• Completes or assists daily posting activities to the general ledger, including processing bank accounting batches, general ledger entry posting and general ledger verification.
• Assists with daily cash position settlement for the bank, monitoring balances and ensuring proper transactions are initiated based on current cash balances at the Federal Reserve Bank and the Federal Home Loan Bank (FHLB).
• Performs functions related to the Bank's securities portfolio, managing safekeeping functions such as recording newly acquired securities, monitoring for calls and maturities, and posting associated GL entries.

Includes maintaining records related to pledging of bank securities for various purposes, including verification of proper collateralization to ensure adequate coverage of relevant deposit accounts and preparation of pledge letters for such depositors' accountants.

• Manages the entry and maintenance of fixed assets, setting up various book and tax lives in accordance with laws and regulations and in conjunction with guidance from external auditors and tax accountants. Prepares reconciliations to compare Fixed Asset activity to the General Ledger
• Maintains lease accounting items in appropriate categories within the respective accounting modules, ensuring adherence to GAAP Lease Accounting standards. Prepares reconciliations to compare Lease Accounting activity to the General Ledger.
• Prepares various accounting reports and/or other accounting functions on a monthly or quarterly basis, including but not limited to reports presented at various meetings, such as Asset Liability Committee. Some of these reports include Wholesale Maturity Distribution, New Loans Summary, Average Balance Changes, Uninsured Deposits, and Key Ratios.
• Prepares and organizes various regulatory reporting, gathering and compiling all required information to complete the submission for reports such as the Call Report, FRY-6, FRY-9, FR2900, FR2644, and the

FHLB QCR.

• Prepares quarterly general ledger entries for holding company related transactions, such as the income stat entries and payment of dividends, also prepares teller slips to make cash transfers into the appropriate bank accounts.
• Facilitates the data uploads and reconciliation of loan and general ledger information into the Allowance for Credit Losses calculation, such as charge off and recovery balancing as well as total loan reconciliation, also prepares various reporting related to the ACL.
• Manages wholesale funding oversight and logistics, initiating transactions required for various wholesale funding sources, and ensuring proper posting of ongoing related entries.
• Provides general support to other areas of the Accounting Department, including performing Reconciliation reviews for various GLs, along with account research and audit information as necessary.
• Understand and support all BSA/AML responsibilities as applicable to the position as well as consistently, accurately, and timely carry out these responsibilities in compliance with the Bank's internal policies
• Perform other related work and duties as assigned Education and/or Experience
• Prior bank accounting or finance experience strongly preferred
• Four-year college degree, BA or BS required in finance and accounting, or a related field

TECHNICAL SKILLS

• Proficient with Microsoft Office products including Word, Excel, Outlook
• Must be willing to learn new systems and adapt to emerging technologies

LANGUAGE SKILLS

• Ability to analyze reports and communicate the results to others
• Ability to read interpret documents such as procedure manuals and release notes
• Ability to write business correspondence, and policies using proper grammar and accurate spelling

REASONING ABILITY

• Effective problem-solving skills that utilize both quantitative and qualitative information along with intuition
• Ability to apply common sense understanding to carry out instructions furnished in written, oral, or diagram form
• Organizational, priority setting, and decision-making skills are also required

PHYSCIAL DEMANDS

While performing the duties of this job, the employee is required to use hands and fingers to operate office equipment, telephones, etc. The employee must occasionally lift and/or move up to 25 pounds Specific vision abilities required by this job include close vision, and ability to adjust focus

WORK ENVIRONMENT

• The noise level in the work environment is usually moderate.

BENEFITS AND ADDITIONAL INFORMATION

• Bank wide bonus, 401(k), ESOP, Medical, Dental & Vision insurance, Health Savings Account, Life Insurance, Paid Holidays, PTO, and Paid Volunteer Time.
• Work Schedule is Monday through Friday
• Full-time 37.5 - 40 hours per week
• Flex Schedule Information This job description is not designed as a comprehensive list of activities, duties, and/or responsibilities and may change at any time with or without notice.

The duties and qualifications stated within this job description are representative of the knowledge, skill, and/or ability required for this position. Somerset Trust Company is an Equal Opportunity Employer, including disability and protected veteran status. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions of this position.