Salary :
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This role serves as a Separate Accounts liaison with State Street Bank on day-to-day operational processes and issue resolution and as the primary accounting contact for all internal customers including administrative systems and cash management. This position is responsible for daily accounting and operational duties associated with the securities pricing, trading and accounting services provided by State Street Bank.
Responsibilities include the preparation of daily wire transfers and posting of general ledger entries for net trades and expenses; reconcilement of trading activity and funding between State Street Bank, administrative systems and general ledger; and preparation of quarterly closing entries and associated financial reporting.
Other key duties include project-related tasks associated with new product launches and/or changes to existing product offerings, including coordinating with external fund managers, internal line of business contacts and SAP general ledger contacts. Routinely, this position will be required to provide requested information to regulators and auditors.
Responsibilities:
- Communicate with administrative systems teams and line of business personnel on operational and accounting issues.
- Maintain and update internal processes and procedures specific to the services provided by State Street Bank.
- Evaluate all processes for opportunities for improvement in efficiency or quality.
- Drive identified process improvements through to completion working with various teams across the Protective organization as well as within the State Street Bank organization.
- Integrate business associated with future acquisitions into established processes seamlessly, without error, and in a timely manner.
- Coordinate with the business units and administrative system teams, State Street Bank and mutual fund managers on new product launches, product fund additions and changes.
- Prepare daily funding wires and post associated general ledger entries for daily net activity with State Street Bank for each legal entity.
- Reconcile general ledger accounts associated with all trading activity performed by State Street Bank, including cash movement for multiple entities.
- Review daily share balancing reconcilements, unit reconcilements and daily breakage reports received from State Street Bank and follow up to resolve reconciling differences as needed.
- Prepare various general ledger entries and quarter-end reporting as part of the financial close process.
- Prepare pricing error memos for Compliance to document the cause and assessment of impact of pricing corrections.
Knowledge/Experience/Education/Training:
- Bachelor of Science degree in Accounting or Finance is required.
- Master of Accountancy or Certified Public Accountant (CPA) strongly preferred.
- A minimum of two years of applicable accounting or finance-related experience, preferably in a public accounting environment or an insurance environment.
- Proficiency with general ledger systems and related accounting required. SAP ledger system experience preferred.
- Advanced knowledge of Microsoft Excel.
Abilities:
- Strong analytical, critical thinking and problem-solving skills.
- Demonstrates a sense of urgency and the ability to focus on tasks at hand to meet critical deadlines.
- Must be self-motivated, dependable, able to work with minimal supervision both independently and as part of a team.
- Good leadership qualities, dependable, trustworthy, able to make decisions in a fast-paced environment with strict daily time deadlines.
- Detail-oriented, accurate and adaptable to changing conditions and managing multiple priorities.
- Excellent written and oral communication skills. Must be able to communicate effectively regarding issues involving trades, cash management, administrative systems and all related accounting issues. Requires regular interaction with other areas of Accounting, State Street Bank representatives and auditors.
$62,000 - $90,000 a year
Protective’s targeted salary range for this position is $62,000 to $90,000. Actual salaries may vary depending on factors, including but not limited to, job location, skills, and experience. The range listed is just one component of Protective’s total compensation package for employees.
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Note: Although the responsibilities for this position are unique, the internal title for this position is Analyst II, General Accounting
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