Loan Accountant

Compeer Financial • Lakeville, MN

5h • Hybrid

About The Position

Empowered to live. Inspired to work.
Compeer Financial is a member-owned cooperative located in Illinois, Minnesota and Wisconsin. We bring together team members with a variety of backgrounds and experiences to help provide financial services to support agriculture and rural communities. Join us in a culture that not only promotes meaningful work and professional development, but provides a flexible, hybrid work environment and excellent benefits, which empower you to thrive both personally and professionally.
The contributions you will make: This position serves Compeer Financials’ internal and external clients by providing accounting services for assigned business units, that include loans, by analyzing requests and creating accounting system entries using appropriate procedures and accounting principles. Ensures a high degree of accuracy and exceptional service. Serves as a knowledge and technical resource to other team members with regard to accounting processes for assigned business units.

Requirements

• Bachelor’s degree in accounting, finance or related field; or equivalent.
• Minimum of 3 years related work experience required, preferably in the financial services industry.
• Knowledge of accounting principles and financial management practices.
• Familiarity with financial reporting tools and error identification techniques.
• Strong analytical and problem-solving skills
• Strong, proven interpersonal communication, client service and team skills.
• A high degree of accuracy and attention to detail
• Ability to meet deadlines and manage multiple tasks simultaneously.
• Intermediate computer skills including MS Office applications (Word, Excel, Access, Outlook, etc.) and other related accounting software applications.
• Ability to work independently and collaboratively with other teams to achieve goals and represent the business.
• Valid driver’s license.

Responsibilities

• Optimizes the accuracy and efficiency of financial records by analyzing and validating entries across basic to moderately complex transactions, ensuring adherence to accounting principles.
• Establishes new loan setups and assist with client billing processes to maintain seamless financial operations and enhance client satisfaction.
• Resolves accounting discrepancies related to loans and bonds, including variance analysis, interest accruals, and account reconciliations.
• Assists with the setup, monitoring, and maintenance of specialized financial programs to meet evolving business needs.
• Ensures timely and accurate reconciliation and processing of third party payment remittances.
• Calculates, monitors, and maintains various accounting fees to optimize financial resource allocation.
• Maintains daily general ledger entries to support accurate financial reporting and decision-making.
• Completes servicing maintenance requests, including modifications and extensions, to support loan and bond lifecycle management.
• Delivers comprehensive support across teams by addressing inquiries related to pricing, loan documents, and other financial matters, ensuring seamless communication and problem-solving.
• Communicates with external financial institutions to provide timely and accurate information regarding participated loans.
• Completes tax reporting processes for forms 1098/1099- INT/1099C/1099A to ensure compliance and accurate financial disclosures.
• Collaborates with financial officers and credit teams to establish complex loan terms that integrate within accounting systems.
• Performs fund transfers, including wires and ACHs, and resolves related exceptions to ensure smooth money movement.
• Partners with AgriBank/SunStream and third-party banks to process hedge and foreign funding requests.
• Administers ACH and wire template setup and maintenance to streamline transaction processes and enhance operational efficiency.
• Manages returned checks and ACH transactions, assess related fees, and communicate outcomes with financial officers or branches to maintain financial accuracy.
• Serves as a technical and knowledge resource for team members and vendors regarding accounting functions such as loans and GL clearing transactions. Collaborates closely with team members to promptly and accurately resolve issues, minimizing potential client concerns and ensuring compliance with organizational policies.
• Supports external financial companies in understanding accounting procedures for investments and participated loans, providing pre and post-closing guidance. Communicates with AgriBank/SunStream to address transaction requests and payment exceptions.
• Participates in fraud detection and resolution efforts to safeguard financial integrity.
• Conducts AP check printing and EFT releases, ensuring timely and accurate payment processing.
• Generates and uploads Journal Vouchers (JVs) as per departmental requirements, collaborating with team leaders to ensure timely and accurate transactions.
• Verifies transaction entries to ensure accuracy in the accounting system database. Creates documents and forms for Loan Accountings internal use.
• Authors department information on the Compeer Financial Intranet site as needed.
• Researches and recommends process improvement and efficiencies within the department and Compeer Financial.
• Documents department policies, procedures and processes
• Monitors assigned loan and credit line exceptions, as well as unposted items. Utilize reports to identify, interpret, and correct errors.
• Ensures the accurate application of payments and advances on loans, and verifies rates are correctly applied.
• Analyzes reports to identify trends and provide insights.
• Develops and manages spreadsheets for data input, accruals, and calculations. Process corresponding macros as needed.

Benefits

• Hybrid model – up to 50% work from home
• Flexible schedules including ample flexibility in the summer months
• Up to 9% towards 401k (3% fixed Compeer contribution plus up to 6% match)
• Benefits: medical, dental, vision, HSA/FSA, life & AD&D insurance, short-term and long-term disability, wellness program & EAP
• Vacation, sick leave, holidays/floating holidays, parental leave, and volunteer paid time off
• Learning and development programs
• Mentorship programs
• Cross-functional committee opportunities (i.e. Inclusion Council, emerging professional groups, etc.)
• Professional membership/certification reimbursement and more!

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level