Navient Solutions - Herndon, VA

posted 3 months ago

Full-time - Mid Level
Herndon, VA
Credit Intermediation and Related Activities

About the position

Navient Solutions LLC is seeking a detail-oriented accounting professional to join their team. The role involves managing reconciliations for payroll, cash, tax, and benefits accounts, ensuring compliance with GAAP and corporate reporting requirements. The ideal candidate will have a strong work ethic and thrive in a fast-paced environment, contributing to the accuracy and integrity of financial reporting for the company.

Responsibilities

  • Reconcile, post and report payroll activity for approximately 2000 employees with $400M+ annual payroll.
  • Notify management of possible discrepancies, variances, or reconciling differences.
  • Reconcile several hundred balance sheet accounts across Navient and subsidiaries, including taxes, stock, COLI, bonuses, non-qualified plan, and multi-million-dollar payroll cash accounts.
  • Report any variances and resolve in accordance with corporate and accounting policies, procedures, regulations and state escheatment requirements.
  • Review and maintain internal controls that will ensure safeguarding of company assets and financial reporting that is prepared in compliance with corporate policies, directives and GAAP.
  • Track daily banking activity and payroll adjustments made or needed.
  • Prepare and post biweekly, supplemental and adjustment payrolls.
  • Ensure the proper allocations and accruals of payroll-related month-end expenses.
  • Document payroll posting procedures, maintaining compliance with GAAP and internal control processes established, subject to annual audit and ICE/SOX reviews.
  • Maintain correct payroll/financial system mappings from payroll vendor through subledger to general ledger and monitor for GAAP compliance, update individual subsidiary requirements to meet the needs of specific financial reporting objectives.
  • Prepare tax and other payroll-related wires as needed.
  • Reconcile and confirm the accuracy of payroll data submitted to the vendor for the 401(k) plan participants and review employer contributions.
  • Prepare audit schedules and analysis, assist with external audit and preparation of plan financials.
  • Provide management and other departments or subsidiaries with Ad hoc reports/analysis as needed.
  • Assist management with intercompany reconciliations.
  • Process assigned monthly journal entries and reconciling/other entries as needed.
  • Provide excellent customer service to employees, other departments and external contacts.

Requirements

  • Bachelor's Degree in Accounting or Business with Accounting concentration.
  • 5 years of experience in accounting.
  • Excellent analytical and deductive reasoning skills.
  • Advanced Excel skills.

Nice-to-haves

  • CPA certification.
  • Experience with large corporate accounting and payroll systems.
  • Understanding of accounting for benefit plans, especially 401(k) and non-qualified plans.
  • Experience with internal and external audits.
  • Experience with large company systems (Oracle, ADP, Workday).

Benefits

  • Health insurance
  • 401(k) plan
  • Paid holidays
  • Flexible scheduling
  • Professional development opportunities
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