Finance Specialist I

Merchants Bank•Winona, MN

10d

About The Position

Merchants Bank, Winona, has an opening for a Finance Specialist. Duties include managing daily and monthly general ledger reconciliations and supporting accurate financial reporting. Handles key regulatory and operational responsibilities from maintaining rate indexes and withholding reporting to preparing pledging, FR2900, and investment‑related entries. Also supports monthly, quarterly, and annual processes including investment portfolio accounting, preparing audit information, reporting, and tax‑related documentation. This position will prepare committee packets, capturing meeting minutes and assisting with Accounts Payable backup. Must be a detail‑oriented professional who values process improvement, exceptional customer service, and contributing to a positive and collaborative work environment. Associate degree in Finance or Accounting or equivalent work experience preferred. Must have excellent knowledge of Microsoft Excel and Word. Merchants Bank offers competitive wages and benefits for our full-time employees including health, dental, life, disability and vision insurance; flexible spending accounts, 401(k) and ESOP retirement plans; bonus plan; paid time off; tuition reimbursement; and a variety of voluntary supplemental insurance options. Please click on Apply Now or apply in person at Merchants Bank, Winona (102 E 3rd Street). Questions can be emailed to [email protected]. Merchants Bank is an Equal Opportunity Employer of women, minorities, protected veterans and individuals with disabilities. Job Summary: Work is performed under limited supervision according to established policies and accounting rules. The emphasis of this position is to calculate and disseminate accurate information and data, as well as document procedures for these processes. This position requires knowledge and skills in a wide variety of areas and thus the ability to change focus throughout each day is imperative. The duties related to this job include mathematical calculations, research, using several different software and hardware systems, and extensive use of Excel. This position requires a well-organized and motivated individual with the ability to initiate projects and follow through as needed. Must have the ability to multi-task and work independently.

Requirements

Must be a detail‑oriented professional who values process improvement, exceptional customer service, and contributing to a positive and collaborative work environment.
Must have excellent knowledge of Microsoft Excel and Word.
Independent thought, good organization, self-motivation to complete tasks and remain on schedule with minimal supervision.
Personal computer skills with excellent knowledge of Microsoft Excel, and Word programs, as well as good typing skills; effective telephone and written communication skills.
Amiable personality and team player.

Nice To Haves

Associate degree in Finance or Accounting or equivalent work experience preferred.

Responsibilities

Reconcile roughly seventeen general ledger reconciliations on a daily basis. Conduct research and training as needed to ensure items clear in a timely manner. Identify process improvement opportunities whenever possible.
Correct GL posting errors daily and run daily PDF report workflows for users without Prologue access.
Check the GL Exceptions report and follow up on timely corrections.
Change or verify daily rate indexes in the core processing system for both investment and loan accounts.
Review withholding daily and report/remit to the state of Minnesota as required.
Save general ledger files daily as backup for retention purposes.
Compile and communicate Loan Pricing Guidelines to all lenders on a weekly basis.
Save subledger report for independent review by Operations.
Update the daily pledging spreadsheet to ensure pledging requirements are met for public fund customers.
Run the FR2900 report on Tuesdays and provide to Wire Transfer department for reporting.
Check back Accounts Payable transactions to source documentation prior to bi-weekly batch postings.
Backup to calculate and post bank investment portfolio principal and interest payments each month. Calculate and post FASB No. 115 entries so that the banks securities with fixed maturities are reported at their current market value.
Calculate and report monthly bank commission to Representatives & Bank Presidents.
Assist with month end reports, calculations and entries (i.e. send out pledged security documents to customers (backup), create reports of new loans and CDs and their interest rate spreads for management review).
Prepare documented reconciliations of various general ledger and internal accounts for review as required by FDICIA.
Act as the primary point of contact for Winona lease tenants and monitor rent certificates and lease contracts for updates/renewals.
Prepare the ALCO packet and capture minutes during the monthly meetings.
Report to IntraFi general ledger balances to agree to network information.
Run quarterly entries including, but not limited to, Trust Preferred Security Admin Fee and allocation of FHLB advance borrowing balances and interest.
Compile the packet for the Investment Center Committee and capture minutes for quarterly meetings.
Reconcile company-wide withholding to report on tax form 945.
Reconcile 1099 information as input throughout the year including Bank Owned Life Insurance
Report and remit unclaimed property for the entire company on an annual basis.
Act as the primary point of contact for Winona lease tenants and monitor rent certificates and lease contracts for updates/renewals.
Act as back up for Accounts Payable Department by coding and processing all bank invoices for payment.
1099 input and follow-up.
Update and verify several general ledger accounts and internal bank accounts.
Process general ledger entries and standard entries for a variety of accounts.
Prepare and create a variety of month end reports and analysis.
Continually document and improve processes as opportunities arise.
Adherence to compliance laws concerning financial institutions, and completion of compliance tests as required for job description.
Employee will be expected to contribute to a positive working environment through words and actions.
Employee will be expected to take responsibility to ensure that internal and external customers receive outstanding service.
Perform any other duties assigned by management.