Navy Federal Credit Union - Winchester, VA
posted 2 months ago
The position involves executing Navy Federal's financial accounting processes by applying federal and industry regulations and standards. The role supports the accurate reconciliation and maintenance of the organization's financial statements and reports. The individual will work under minimal supervision and is expected to make recommendations based on their findings. The responsibilities include performing accounting activities such as reviewing and analyzing financial statements, ledgers, reconciliations, and associated accounts to ensure the accurate application of industry standards. Monthly close activities will also be part of the role, which includes reviewing and monitoring entries to the Trial Balance, Balance Sheet, and Income Statement accounts, as well as posting adjustments as necessary. In addition, the position requires performing account reconciliations, analytics, and variance analysis, providing sufficient supporting documentation for all financial activities. The individual will apply a basic to broad knowledge of Generally Accepted Accounting Principles (GAAP) and Accounting Standard Codification (ASC) in the preparation of Navy Federal Credit Union (NFCU) financial statements. Ensuring compliance with GAAP and ASC is crucial, as is identifying simplifying assumptions and accounting methods, as well as instances of incorrect application of GAAP/ASC. The individual will quantify the impact of such treatment and recommend solutions accordingly. The role also involves leading and guiding Accounting Technicians in the proper classification of transactions and funds, resolving misapplied funds or outstanding items, and conducting in-depth analysis to identify, isolate, and resolve discrepancies. The individual will contribute to quality control and process improvement initiatives, investigate and resolve complex discrepancies, and prepare and present recommendations for immediate action or proposals for policy changes to prevent losses. Furthermore, the position includes providing guidance with inquiries and problem resolution, performing research to assist with responses to inquiries from internal and external auditors, and generating reports that include associated justification for variance analysis. The individual will also identify and participate in process and automated improvement initiatives, assist with integration testing, and present recommendations for implementation. Mentoring and guiding Accounting Technicians with interface posting discrepancies and validating system-generated reports is also part of the role. The individual will ensure compliance with emerging accounting policies and updates, assist with the maintenance of the Accounting Policy Manual, and execute financial and operational controls as designed. The position requires resolving moderately complex escalated discrepancies, evaluating the impact of amended regulations, and recommending and implementing methods to ensure compliance. Participation in task/project groups across department lines, assisting with system design/development, and communicating accounting knowledge and business processes are also expected. Other duties may be assigned as necessary.