Accountant I - Technical Accounting

Navy Federal Credit Union - Winchester, VA

Full-time - Entry Level

Winchester, VA

Credit Intermediation and Related Activities

About the position

The Accountant I - Technical Accounting position at Navy Federal Credit Union is responsible for executing financial accounting processes in compliance with federal and industry regulations. The role involves supporting the accurate reconciliation and maintenance of financial statements and reports, working under minimal supervision, and making recommendations for improvements.

Responsibilities

• Perform accounting activities including review and analysis of financial statements, ledgers, reconciliations, and associated accounts to ensure accurate application of industry standards.
• Perform monthly close activities including reviewing and monitoring entries to the Trial Balance, Balance Sheet, and Income Statement accounts and posting adjustments.
• Conduct account reconciliation, analytics, and variance analysis, providing sufficient supporting documentation.
• Apply knowledge of Generally Accepted Accounting Principles (GAAP) and Accounting Standard Codification (ASC) in the preparation of financial statements.
• Ensure compliance with GAAP and ASC by applying accounting standards in the preparation of financial statements.
• Identify simplifying assumptions and accounting methods, quantifying the impact of incorrect GAAP/ASC applications and recommending solutions.
• Lead and guide Accounting Technicians in proper classification of transactions and resolution of misapplied funds.
• Conduct in-depth analysis to identify and resolve discrepancies, contributing to quality control and process improvement.
• Investigate and resolve complex discrepancies, preparing recommendations for immediate action or policy changes to prevent losses.
• Provide guidance with inquiries and problem resolution.
• Assist with responses to inquiries from internal and external auditors.
• Perform variance analysis and generate reports with associated justification.
• Identify and participate in process and automated improvement initiatives, assisting with integration testing and presenting recommendations for implementation.
• Mentor Accounting Technicians with interface posting discrepancies and validating system-generated reports.
• Ensure compliance with emerging accounting policies and assist with the maintenance of the Accounting Policy Manual.
• Execute financial and operational controls as designed.
• Resolve moderately complex escalated discrepancies, guiding and negotiating with internal and external contacts.
• Evaluate the impact of amended regulations and recommend methods to ensure compliance.
• Participate in task/project groups across departments, assisting with system design and integration testing.

Requirements

• Familiarity with GAAP and Sarbanes-Oxley (SOX) control environment and requirements.
• Proficiency in Microsoft Office applications, particularly Excel, Access, and PowerPoint.
• Ability to work independently and in a team environment, including mentoring teammates.
• Experience interacting with external and internal contacts, such as auditors.
• Previous experience with credit union financials and/or NCUA regulations.
• Working knowledge of Navy Federal's organizational structure, products, services, policies, and procedures.
• Demonstrated intention to pursue or currently pursuing CPA certification; CPA certification is highly desired.
• Advanced skill in handling multiple tasks simultaneously with high accuracy.
• Basic analytical, organizational, and problem-solving skills.
• Effective verbal and written communication skills.
• Bachelor's degree in Accounting, Finance, or a related field, or equivalent combination of experience, education, and training.

Nice-to-haves

• Advanced degree in Accounting, Finance, or other related field.