Accounting Specialist

Comerica - Farmington Hills, MI

Full-time - Entry Level

Hybrid - Farmington Hills, MI

Credit Intermediation and Related Activities

About the position

The Accounting specialist role will be responsible for preparing and reviewing journal entries in accordance with GAAP; monitoring and analyzing income and expense accounts for reasonableness and accuracy to confirm statements are fairly presented; and analyzing and reconciling various balance sheet and liability accounts to ensure the accuracy of the monthly balances on general ledger. This role will also be responsible for assisting the Accounting Manager as needed with daily activities in the monthly analysis of the corporate income statement and various corporate accounting functions, in addition to performing ad-hoc analysis as requested by management.

Responsibilities

• Post and review general ledger transactions to ensure accurate postings and reasonableness of transactions posting to general ledger accounts.
• Perform analysis of income and expense accounts. Analyze trends and identify large variances, including identification of potential prepaid expenses to be amortized and accruals to be booked.
• Set up recurring accruals, prepare quarterly materials for employee-related benefits and assist the Accounting Manager with necessary analysis.
• Perform various allocations for Health Benefits and Other Insurance expenses proportionately based on appropriate statistical drivers.
• Perform Equity Pickup/Investment in subsidiary process, review and reconcile related accounts to ensure closing entries properly posted.
• Provide management with monthly, quarterly, and year over year income and expense variance explanations for month end close meeting.
• Reconcile and review assigned monthly aging and general ledger account reconciliations.
• Assist the Accounting department with updates to Accounting-related procedures and documentation of accounting processes and workflows, including the design and implementation of internal controls to provide quality assurance over reported data.
• Ensure spreadsheet controls 'best practices' are maintained across all existing critical spreadsheets within area of responsibility and are utilized in the development of new spreadsheets.
• Provide internal/external auditors with requested documents and support.
• Ensure effective communication and working relationships are maintained with customers and colleagues throughout the bank.
• Input/process general ledger entries as requested by other areas of the bank, such as accruals or re-classes/corrections of general ledger accounts.
• Communicate with Human Resources and Wealth and Institutional Trust, and Corporate Treasury on account information regarding staff insurance and other benefits programs.
• Help other areas of the bank as needed, such as assisting with research of vendor payments or charges to general ledger accounts, along with ad-hoc reporting and account analysis.
• Cross train/perform daily functions (as deemed necessary) to ensure coverage of critical processes during other team members PTO.
• Stay abreast of accounting developments and work closely with others in the Accounting Department to apply technical and industry guidance as needed.
• Develop a functional understanding of banking and financial services industry processes/topics and accounting implications.
• Proactively identify opportunities to create operational efficiencies.
• Assist with implementation of automating certain processes or using advanced analytics to effectuate more efficient accounting and reporting processes.
• Perform other miscellaneous accounting functions as assigned.

Requirements

• Bachelor's Degree from an accredited university in Accounting or Finance
• 2 years experience in accounting/finance related, including reporting and analysis, reconciliation and internal control
• 2 years of experience utilizing Microsoft Products including Word and Excel, including pivot tables

Nice-to-haves

• CPA (Certified Public Accountant) - Licensed or CPA eligible candidates Preferred

Benefits

• Health and welfare programs
• Strong retirement benefits
• Generous paid time off programs
• Medical, dental, and vision benefits
• 401(k) and pension
• Income protection benefits such as life insurance, AD&D, and supplemental health programs
• Variety of time off programs for vacation, sick time, disability, and parental leave