Accounting Analyst

FinanceInfos; Minneapolis (MN); Hybrid; USD 65,000 - 90,000; Full time

Benefits offered by this job

Competitive bonus

Job summary

Choice Bank is seeking an Accounting Analyst in Minneapolis to complete accounting team projects, analyze capitalization efforts, and support invoicing for Banking as a Service (BaaS) arrangements. You will collaborate with Accounts Payable and Fixed Asset specialists and ensure timely, accurate financial information.

The role covers developing accounting principles and maintaining processes for current work to ensure accurate statements, with a focus on closing and internal controls.

Qualifications

• Minimum 3–4 years of relevant accounting experience.
• Experience with capitalization projects and invoicing processes.
• Familiarity with FinTech/BaaS accounting processes.

Responsibilities

• Aid in establishing new accounting processes for new products, investment types, or programs within the Company, such as stock compensation, fair value measurement, or derivatives, within the provided guidelines
• Assist in gathering information requested during internal and external audits.
• Assist the Finance department with complex accounting projects, including responsibility for key deliverables, as needed.
• Assist the Finance team with the chart of accounts maintenance.
• Complete the ongoing accounting for complex accounting processes, if needed, on a temporary or ongoing basis
• Ensure accounting is completed timely, accurately, and completely for the IT project capitalization
• Ensure an accurate and timely monthly, quarterly, and year-end close for areas of responsibility.
• Identify test plans and perform testing of software changes/updates, if needed.
• Prepare accurate and detailed reconciliations with supporting documentation on regular cadences.
• Prepare schedules for external financial reporting for areas of responsibility.
• Responsible for the accounting for complex areas, including deferred compensation plans and mortgage servicing rights
• Responsible for the implementation of new accounting standards, when assigned, to ensure efficiency, integrity, and compliance.
• Support non-bank business units –Wealth Management, BaaS, etc.
• Support the design and execution of effective internal controls in the Finance group, including identifying the need for additional controls in new Finance processes
• Support the Finance team with special projects and workflow process improvements

Skills

Analytics

Prioritization

Questioning mindset

Education

High School Diploma

Job description

Job Highlights

• Title: Accounting Analyst
• Type: Full Time
• Experience: 3-4 Years
• Function: Accounting
• Location: Minneapolis, MN, United States
• Company: Choice Bank

Company Profile

Choice Bank offers personalized banking solutions, including business and personal accounts, loans, and digital banking.

Job Profile

The bank is searching for an Accounting Analyst who will be responsible for completing accounting team projects, analyzing and projects for capitalization to provide information to the Accounts Payable and Fixed Asset specialist, detailed review and problem resolution related to the invoicing process for Banking as a Service (BaaS/FinTech) arrangements, and tracking contract requirements related to accounting for FinTech partners and ensuring invoicing is complete and accurate.

Develop and maintain accounting principles, practices, and procedures related to projects or current work to ensure accurate and timely financial statements.

Education Level

• High School Diploma (credible)

Work Experience

• Minimum 3 to 4 years of relevant experience with requisite competencies
• Develops and documents procedures and ensures the accuracy of accounting.
• Independently perform analysis of work results and proactively provide suggestions and conclusions.

Duties/Responsibilities

Accounting Operations-

• Aid in establishing new accounting processes and procedures for new products, investment types, or programs within the Company, such as stock compensation, fair value measurement, or derivatives, within the provided guidelines
• Assist in gathering information requested during internal and external audits.
• Assist the Finance department with complex accounting projects, including responsibility for key deliverables, as needed.
• Assist the Finance team with the chart of accounts maintenance.
• Complete the ongoing accounting for complex accounting processes, if needed, on a temporary or ongoing basis
• Ensure accounting is completed timely, accurately, and completely for the IT project capitalization
• Ensure an accurate and timely monthly, quarterly, and year-end close for areas of responsibility.
• Identify test plans and perform testing of software changes/updates, if needed.
• Prepare accurate and detailed reconciliations with supporting documentation on regular cadences.
• Prepare schedules for external financial reporting for areas of responsibility.
• Responsible for the accounting for complex areas, including deferred compensation plans and mortgage servicing rights
• Responsible for the implementation of new accounting standards, when assigned, to ensure efficiency, integrity, and compliance.
• Support non-bank business units –Wealth Management, BaaS, etc.
• Support the design and execution of effective internal controls in the Finance group, including identifying the need for additional controls in new Finance processes
• Support the Finance team with special projects and workflow process improvements

FinTech/Banking as a Service (BaaS) Support-

• Develop relationships with FinTech and any other BaaS teams.
• Develops, maintains, and strengthens partnerships with others inside and outside the company so it’s possible to provide information, assistance, and direction effectively
• Oversee Finance collaboration with FinTech/BaaS and Operations teams to onboard new partners, assist in work needed to set up partners with new invoicing procedures, and establish monitoring per contract terms for changes through the life of the contract.
• Responsible for daily reconciliation of BaaS programs, including but not limited to comprehension and application of funds flows, evaluating the effectiveness of matching logic and updating as needed, monitoring and managing reconciliation exceptions, and escalating any issues when appropriate.
• Responsible for the accurate and timely invoicing of the Choice BaaS relationships, including reviewing contracts and contract changes, collaborating with other team members to ensure controls are in place and operating, collaborating with IT to ensure accurate and complete information is provided, and ensuring appropriate revenue recognition for Banking as a Service partners
• Support Relationship Managers in researching and providing timely solutions to any invoice discrepancies impacting BaaS relationships.

Skills/Knowledge/Abilities

• Ability to perform basic analysis of work results with guidance and direction.
• Demonstrate the ability to prioritize tasks with little supervision.
• Develop a questioning mindset and seek clarification when needed

Working Conditions

• Collaborates with finance and audit teams
• Met tight deadlines during closing periods
• Uses spreadsheets and accounting software
• Works in an office or hybrid setting

Benefits/Perks

• Competitive bonus and benefits package

Employer’s Statement

Choice Bank is an Equal Opportunity Employer.