Sr Accounting Specialist - Global Treasury & Merchant Operations

Bank of America•College Park, MD

2d•Onsite

About The Position

At Bank of America, we are guided by a common purpose to help make financial lives better through the power of every connection. We do this by driving Responsible Growth and delivering for our clients, teammates, communities and shareholders every day. Being a Great Place to Work and providing a culture of caring is core to how we drive Responsible Growth. We are intentional about fostering an inclusive workplace where every teammate has the opportunity to succeed, build a career and contribute to our shared success. This includes attracting and developing exceptional talent, recognizing and rewarding performance, and supporting our teammates’ physical, emotional, and financial wellness through affordable, competitive and flexible benefits. We value the unique perspectives individuals bring from all backgrounds and career paths - whether shaped by military service, community college education, or a wide range of work and life experiences. These journeys foster resilience, leadership and innovation, strengthening our workforce and positively impact the communities we serve. Bank of America is committed to an in-office culture that supports collaboration, engagement, and career development. Our approach includes clear in-office expectations, while providing an appropriate level of flexibility based on role-specific responsibilities and business needs. At Bank of America, you can build a successful career with opportunities to learn, grow, and make an impact. Join us! Job Profile Summary: This job is responsible for resolving complex operational accounting functions and issues in accordance with standard procedures. Key responsibilities include conducting analyses of complex issues related to all operational accounting functions, such as general accounting, accounts payable, and accounts receivable. Job expectations include performing analytical research and leveraging judgment to make informed decisions using accounting systems and tools, following established processes, coaching and training employees, and handling exceptions and escalations within the Line of Business. Responsible for daily balancing and exceptions of merchant funding and Card Network settlement. Provides resolution of operational accounting out of balances including in-depth analysis. Success in this role will require the ability to take action based on process characteristics of complex issues related to operational accounting functions.

Requirements

Minimum of 1+ years of settlement operations including reconciliation, funding processes, and/or exception resolution (within 5 years of current experience)
Proficient in Microsoft Office (Outlook, Word, and PowerPoint) and advanced experience in MS Excel
Ability to analyze settlement variances and implement process improvements to enhance operational performance
Experience identifying, researching, and resolving settlement discrepancies and exception items within defined SLAs
Understanding of regulatory requirements, bank policies and procedures
Proficiency in using reporting tools and operational systems to monitor settlement activity and exceptions
Ability to prioritize competing tasks with strong attention to detail and time management
Strong communication skills with the ability to escalate issues and provide clear status updates to leadership; it is important to know when to escalate to a senior member to ensure efficient resolution while delivering a great overall support experience

Nice To Haves

Prior experience in BOSS/FAST, Synergy and Content Navigator
Comfortable with ongoing change and learning new technology/processes
End-to-end ownership of assigned tasks
A commitment to excellent attendance with proven reliability and can adhere to the agreed upon work schedule
Strives to bring new thoughts and ideas to teams to drive innovation and unique solutions
Work well with others and independently
Strong understanding of payment processing workflows, operational controls, and risk mitigation practices
Positive outlook and keen to learn and develop skills while contributing to a high performing and enthusiastic team

Responsibilities

Maintains accurate and complete records including ledgers, invoices, and receipts by referencing documents to verify, record, and process transactions
Prepares financial reports and budgets and assists with audits to resolve discrepancies
Processes and organizes invoices to ensure bills are received and paid in a timely manner
Demonstrates an understanding of workflow processes and adheres to Service Level Agreements and federal and state laws, rules, and regulations
Manages the end-to-end workflow process by using various accounting systems and tools
Researches and analyzes complex procedures, cases, and situations that may come up during account reconciliation activities
Makes decisions based on analytical research and judgement
Leverages reporting and reviews entries needed to reconcile
Resolves unreconciled items and exceptions
Accurate data entry into systems of records to capture inquiries, work performed and to complete fund transfers
Follows bank policies and procedures for the proper escalation of unresolved issues to appropriate internal teams