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OceanFirst Bank · 1 month ago

Senior Accountant Investments & General Accounting

Red Bank, NJ, 07701, United States

Full-time

Onsite

Senior Level

OceanFirst Bank is committed to delivering value to its customers and recognizes the importance of its employees. The Senior Accountant -- Investments & General Accounting position is responsible for managing the accounting of the company's investment securities and loan portfolio, along with preparing various regulatory reports.

BankingFinanceFinancial Services

Growth Opportunities

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

Qualification

Investment accountingGeneral ledger managementRegulatory reportingLoan accountingSOX complianceAnalytical skillsAttention to detailTeam collaboration

Required

Bachelor's degree in Accounting or Finance

Minimum of 5 years of accounting experience, preferably in a financial institution

Strong knowledge of generally accepted accounting principles (GAAP)

Experience with investment securities accounting

Proficiency in accounting software and Microsoft Excel

Ability to analyze financial data and prepare reports

Strong attention to detail and accuracy

Excellent organizational and time management skills

Ability to work independently and as part of a team

Strong communication skills, both written and verbal

Benefits

On-site fitness facility at Red Bank and Toms River headquarter offices

Employee perks & discount programs

Tuition assistance

Incentive compensation program

Professional development opportunities

Company

OceanFirst Bank

OceanFirst Bank is one of the largest regional banks providing financial services throughout New Jersey and in the metropolitan markets of Philadelphia, New York, Baltimore, and Boston.

Founded in 1902