Accountant II - Operational Accounting

$66,914 - $105,206/Yr

Navy Federal Credit Union - Vienna, VA

Full-time - Mid Level

Vienna, VA

Credit Intermediation and Related Activities

About the position

The Accountant II - Operational Accounting position at Navy Federal Credit Union is designed to execute the financial accounting processes in accordance with federal and industry regulations and standards. This role is pivotal in supporting the accurate reconciliation and maintenance of the organization's financial statements and reports. The Accountant II will work independently within established procedures and practices, making recommendations with moderate guidance. The position requires a comprehensive understanding of accounting functions, including the review and analysis of financial statements, ledgers, reconciliations, and associated accounts to ensure compliance with industry standards. In this role, the Accountant II will perform monthly close activities, which include reviewing and monitoring entries to the Trial Balance, Balance Sheet, and Income Statement accounts, as well as posting necessary adjustments. The individual will also conduct account reconciliations, analytics, and variance analysis, providing sufficient supporting documentation to ensure the integrity of financial reporting. A strong knowledge of Generally Accepted Accounting Principles (GAAP) and Accounting Standard Codification (ASC) is essential for preparing Navy Federal's financial statements and ensuring compliance with these standards. The Accountant II will lead and guide Accounting Technicians in the proper classification of transactions and funds, resolving misapplied funds or outstanding items. This position involves conducting in-depth analyses to identify and resolve discrepancies, contributing to quality control and process improvement initiatives. The Accountant II will also be responsible for investigating complex discrepancies, preparing recommendations for immediate action, and presenting proposals for policy changes to prevent financial losses. Building relationships with business units and serving as a point of contact for inquiries and problem resolution is a key aspect of this role. The Accountant II will perform technical research to assist with internal and external auditor inquiries, generate variance analysis reports, and participate in process improvement initiatives. Mentoring junior team members and ensuring compliance with emerging accounting policies are also critical responsibilities of this position.

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 GAAP and ASC to the preparation of Navy Federal's financial statements.
• Ensure compliance with GAAP and ASC by applying accounting standards in the preparation of financial statements.
• Identify simplifying assumptions and accounting methods, quantify impacts of incorrect GAAP/ASC applications, and recommend solutions.
• Lead and guide Accounting Technicians in proper classification of transactions and funds, and resolve misapplied funds or outstanding items.
• Conduct in-depth analysis to identify, isolate, and resolve discrepancies, contributing to quality control and process improvement.
• Investigate, resolve, and/or escalate complex discrepancies, data entry errors, and out of balance situations; prepare and present recommendations for action or policy changes.
• Build relationships with business units and serve as point of contact for inquiries and problem resolution.
• Perform technical research to assist with responses to inquiries from internal and external auditors.
• Generate variance analysis reports including associated justification.
• Identify and participate in process and automated improvement initiatives; assist with integration testing and present recommendations for implementation.
• Mentor and guide Accounting Technicians with interface posting discrepancies and validating system-generated reports.
• Ensure compliance and keep abreast of emerging accounting policies/updates and assist with the maintenance of the Accounting Policy Manual.
• Prepare and review internal and external reports, schedules, and statements.
• Identify gaps in financial controls and develop recommendations for corrective action.
• Lead small projects or support project groups across departmental lines by applying accounting knowledge to development or enhancement initiatives for new systems and automated processes.
• Participate in task/project groups across department lines; assist with system design/development and participate in integration testing; communicate accounting knowledge and business processes.
• Maintain relationships with external contacts and all levels of management and staff; act as a resource for the resolution of complex problems.
• Mentor and review work of junior level team members.
• Perform other duties as assigned.

Requirements

• Experience in an accounting role demonstrating significant knowledge and understanding of accounting functions and transactions, reconciliation techniques, and technical accounting information.
• Working knowledge of GAAP and general working experience with technical accounting memos.
• Experience with financial/accounting systems (e.g., Peoplesoft, General Ledger) used in the management and analysis of financial data.
• Working knowledge of SOX control environment including documentation and testing of controls and their effectiveness over financial reporting.
• Demonstrated ability to work independently and to coach, train, and guide teammates in the application of GAAP and accounting rules.
• Experience working with cross-functional teams and the ability to lead small projects or portions of projects.
• Ability to present findings and conclusions clearly and concisely.
• Working knowledge of PC applications to include Microsoft Office, particularly Excel, Access, and PowerPoint.
• Ability to work both independently and in a team environment to include mentoring/guiding teammates.
• Previous experience with credit union financials and/or NCUA regulations.
• Working knowledge of Navy Federal organizational structure, products, services, policies, and procedures.
• Demonstrated intention to pursue or currently pursuing CPA certification.
• CPA certification highly desired.
• Advanced skill in handling multiple tasks simultaneously with a high degree of accuracy.
• Effective analytical, organizational, and problem-solving skills.
• Advanced skill maintaining accuracy with attention to detail and meeting deadlines.
• Effective verbal and written communication skills.
• Effective interpersonal skills and the ability to collaborate with both internal and external contacts and to respond to requests regarding complex financial information/data.
• Bachelor's degree in Accounting, Finance, or a related field or the equivalent combination of experience, education, and training.

Nice-to-haves

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

Benefits

• Highly competitive pay
• Generous benefits and perks
• Hybrid workplace options
• Opportunities for career growth and development
• Recognition for contributions to the organization
• Support for continuing education and professional development.