Senior Accountant Investments & General Accounting

OceanFirst Financial Corp.•Red Bank, NJ

50d•Hybrid

About The Position

The Senior Accountant -- Investments & General Accounting position is primarily responsible for accounting for the Company's investment securities, borrowings portfolio, and loan accounting. This position maintains the general ledger for several associated subsidiaries and prepares monthly investment and loan account reconciliations. This position also analyzes balance sheet and income statement variances and trends and assists with the preparation and submission of weekly, quarterly and annual regulatory/external reports.

Requirements

Knowledge of accounting concepts, practices, and procedures associated with loan accounting and investment securities.
Experience in preparing bank, general ledger, and off-balance sheet account reconciliations, and researching and clearing reconciling items.
Proficiency in the MS Office suite of products, primarily Excel, and its analytical, formula, and financial functions (specifically V-Look-ups, Pivot Tables and Sum If formulas)
Proficiency with a financial services related general ledger and investment portfolio systems, preferably Fiserv Prologue Financials.
Strong research, analytical, problem solving and communication skills.
Ability to create ad-hoc reports from the bank's general ledger, investment system, core and data repository systems.
Ability to work in a team environment as well as independently.
Ability to work in a fast-paced Accounting environment which has tight deadlines to Senior Management and the Company's regulators including the Federal Reserve, OCC and FDIC.
Attention to detail, control oriented and time management skills are essential.
Bachelor's degree with a concentration in finance/accounting or related field.
Minimum of 4-6 years of experience in accounting, preferably in banking.

Nice To Haves

Prior experience with Fiserv products, including Prologue and Premier, and core conversions, strongly preferred.

Responsibilities

Responsible for the accounting for the purchase, sale, call, and maturity of the bank's MBS, Corporate, Muni, and U.S. Government securities utilizing its investment portfolio accounting system.
Assists in the monitoring of loan related balance sheet and income statement balances and compliance with generally accepted accounting principles and relevant regulations.
Prepares monthly adjusting entries and analysis related to the Bank's Loan Portfolio, which includes but is not limited to the sale or contribution of loans to the Bank's REIT Subsidiary.
Responsible for the accounting for principal and interest (P&I) payments received, the monthly accrual of interest and the amortization/accretion of discounts/premiums on the securities portfolio.
Obtains monthly pricing of the investment securities and performing the associated mark-to-market accounting entries.
Boards all new securities on the portfolio accounting system, ensuring the necessary general ledger mapping for entries is correct, and maintaining the necessary pledge, regulatory and SEC coding for reporting purposes.
Boards all new debt issuances, ensuring the necessary general ledger mapping for entries is correct, and accounting for monthly interest expense accruals and quarterly payments of principal and/or interest.
Prepares daily, monthly and quarterly bank, general ledger and custodial reconciliations.
Responsible for quarterly SOX control testing of P&I paydown factors, interest and amortization/accretion amounts, and quarterly investment securities roll forward.
Maintains the general ledger for the Bank's investment securities and loan general ledger accounts including the preparation of journal entries, bank and general ledger account reconciliations, recording intercompany transactions and the associated eliminations, and analyzes balance sheet and income/expense trends as necessary.
Monitors, on a daily basis, intercompany balance sheet and income statement balances, identifying, documenting and correcting differences.
Assists in the preparation of monthly loan reports which are distributed throughout the Bank and used for ALCO, budgeting and strategic planning purposes.
Assists in researching new or revised accounting and regulatory reporting changes, understanding the impact to the Bank and recommending appropriate changes.
Assists the internal and external auditors by facilitating their quarterly review and year-end audit procedures.
Assists in the preparation of weekly, quarterly and annual regulatory reports including the Call Report (FFIEC-041), FR2900, FR2644, FRY-9LP, FRY-9C, FRY-10, FRY-6, U.S. Census Department, HUD reports and other public filings.
Provides back-up support for other senior accountants in the accounting department.