Accounting Manager, Loan & Deposit Operations

Live Oak Bank•Durham, NC

About The Position

The Loan & Deposit Operations Accounting Manager serves as the primary financial, accounting, and controls expert within the Loan & Deposit Operations organization. This role bridges operational execution and enterprise finance, ensuring that daily loan and deposit processes are executed in alignment with GAAP, internal controls, SOX requirements, and corporate accounting policies. This position provides real‑time accounting support, operational insight, and financial analysis to operations leaders while maintaining strong collaborative ties with the SOX, Risk, and Audit teams. This position is ideal for a technically strong accounting professional who thrives in an operational environment and can translate accounting requirements into actionable process-level controls and improvements.

Requirements

Bachelor’s degree in Accounting or Finance
Certified Public Accountant (CPA)
7+ years of relevant experience in accounting, financial operations or banking operations with a publicly held financial institution
Experience in loan accounting, deposit accounting and SOX required.
Strong knowledge of U.S. Generally Accepted Accounting Principles (U.S. GAAP)applicable to lending, deposits, and fee/interest accruals
Ability to interpret and apply accounting standards within an operational context
Excellent analytical and problem‑solving skills with strong attention to detail
Ability to communicate complex accounting requirements clearly to non‑accountants
Proficiency with core banking systems, GL platforms, and Microsoft Excel

Nice To Haves

Collaborative mindset; able to build trust with operations by fostering open communication and relationships across business lines through transparency, reliability and partnership
Process-oriented with a continuous improvement mindset, improving standardization, identifying efficiencies and automation opportunities
Strong organizational skills and ability to manage multiple priorities.
Comfortable working in a fast-paced, high-volume operational environment.

Responsibilities

Operational Accounting Serve as the dedicated accounting subject matter expert for all loan and deposit product workflows, including new product launches, system enhancements, and operational initiatives.
Oversee accounting operations for loan secondary market activities.
Provide on‑the‑floor support to operations teams, ensuring accurate application of accounting rules in daily loan boarding, payment posting, rate changes, deposit transactions, fee assessments, and exception handling.
Identify accounting implications of operational changes, providing recommendations that ensure compliance with GAAP and company policies.
Financial Controls & Compliance Oversee operational-level SOX controls, including evidence gathering, control execution, remediation, and process documentation.
Partner with SOX, Internal Audit and Compliance to prepare for periodic reviews, walkthroughs, and testing.
Ensure proper accounting and documentation of nonaccrual loans, charge-offs, recoveries, fee reversals, corrections, and exception items.
Reconciliation & GL Integrity Collaborate within accounting to maintain accurate alignment between operational systems and the general ledger.
Support reconciliations for key loan and deposit accounts, identifying root causes of breaks and working with operations to implement durable solutions.
Ensure operational transactions are recorded in the correct accounting periods and with proper classifications.
Month-End & Quarter-End Support Provide operational insights for journal entry preparation, accruals, and reserve/allowance processes (CECL-related operational inputs).
Assist Accounting in preparing supporting schedules for regulatory and SEC reporting as needed.
Review operational data for accuracy and completeness prior to close cycles to prevent downstream adjustments.
Analytics & Reporting Produce analysis explaining variances between expected and actual financial outcomes tied to operational activity.
Support business case development for operational initiatives, including ROI analyses and financial impact forecasting.
Process Improvement & Risk Mitigation Review loan and deposit operational processes for alignment with accounting standards; recommend improvements that strengthen accuracy, control, and efficiency.
Partner with Operations and IT to support system implementations, conversion projects, and data quality initiatives.
Lead root cause analysis for financial or operational errors, ensuring sustainable remediation.
Cross-Functional Collaboration Act as the liaison between Operations and Accounting for all matters involving accounting treatment, reporting impacts, or controls considerations.
Educate operational staff on accounting topics relevant to their work, providing training and documentation.
Participate in governance forums involving new product development, system changes, and control updates.