• Job Description

  Req#: 24040463

  Job Description:

  Line of Business Role Description

  The Sr Analyst, Settlement Accounting is responsible for research, report generation, spreadsheet preparation, and accounting analysis supporting the Settlement Accounting function in Enterprise Merchant Operations. This role is a key contributor to the effective financial management of our Merchant Services capability by defining, testing and improving accounting setup for Merchant Services clients, investigating errors, supporting compliance with accounting policy and enabling strategic business development through financial analysis. Moved a number of items here to the Essential Functions section; keeping this to an overview and why it’s important.

  Responsibilities:

  • Understand accounting and key operational systems needed to perform research and applies expertise on these systems to resolve issues.
  • Completes various month-end close tasks including preparation of account reconciliations compliant with company accounting policy, trending of P&L accounts, aging and risk reporting, and ensuring month-end close deliverables and deadlines are met.
  • Prepares and analyzes accounting data by processing and interpreting accounts such as general ledgers, sub-ledgers, and operational settlement systems.
  • Pull various reports from each part of the merchant service payments process to make entries as needed. Validate reconciliation between reports and automated entries made from various systems. Analyze daily production reports to identify opportunities for improvement and report to management. Reviews, investigates, and corrects errors and inconsistencies in financial entries and reports. Provides project and production support including process design, testing, attendance on calls, and resolution of complex operational accounting issues.
  • Support leadership with strategic and business development activities through personal growth and new product introductions.
  • Completes ad hoc reporting or analysis assignments as needed.

  Required Skills:

  • Ability to research, analyze and solve basic to complex accounting and operational issues related to settlement processes
  • Knowledge of accounting systems and rules and ability to support accounting transactions; preference for prior experience completing reconciliations and familiarity with GL and sub-ledger accounting
  • Ability to deliver high quality work in fast-paced environment to meet client demands
  • Ability to collaborate with internal and external partners to resolve exceptions
  • Excellent interpersonal, written, and oral communication skills; ability to express ideas in a clear and concise manner; ability to communicate effectively with senior leaders about issues and impacts
  • Ability to adhere to policies and procedures that support the organization's goals and KPIs
  • Strong ability to prioritize multiple tasks at once
  • Ability to work evening, holiday and weekend hours as needed to support projects, issues or business needs
  • Microsoft Office Suite products, including but not limited to Excel, Word, SharePoint and PowerPoint

  Desired Skills

  • BA / MA Accountancy preferred, or degree in related field (e.g. Accounting, Finance, Economics). CPA credential preferred.
  • 5-7 years working experience in Global Accounting or Merchant Accounting preferred
  • 3-5 years of experience in Credit Card/Merchant Services industry experience preferred
  • 3-5 years working experience in ATM/payment processing, reconciliation and settlement or settlement accounting preferred
  • Accounting (e.g. eLedger, Frontier, Monarch) and Settlement/Payments systems to execute position responsibilities and to partner with other areas across the Operations teams

  Shift:

  1st shift (United States of America)

  Hours Per Week:

  40

• About the company

  Bank of America is one of the world's largest financial institutions, serving individuals, small- and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services.

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