Accounting Manager
Ludlow, MA
Full Job Description
Summary/Objective
The Accounting Manager manages the financial services department providing information, primarily financial in nature, about all credit union activities that will assist executive management in making educated economic decisions about the credit union’s future.
The Accounting Manager is responsible for directing, coordinating, maintaining, and controlling an accounting system that properly reflects the financial position of the credit union and is responsible for safeguarding credit union assets. The Accounting Manager administers the credit union’s fiscal record keeping and ensures the accurate internal and external recording and reporting of financial transactions.
The Accounting Manager prepares reports for executive management, the board of directors, external users, and government agencies. The Accounting Manager oversees budgeting, cost accounting, general ledger, accounts payable, fixed asset, accounts receivable, branch statistical reporting, ATM balancing, accounting information systems, and payroll functions and monitors department policies and procedures and recommends improvements.
The Accounting Manager serves as a resource in all aspects of accounting and ensures that accounting activities are in accordance with established legal, regulatory, and credit union procedures. The Accounting Manager assigns, directs, and appraises financial services staff and ensures that the financial services department supports the overall goals of the credit union and that financial services are delivered professionally and efficiently.
Essential Function
Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
1. Assumes responsibility for the development and implementation of effective accounting strategies, policies, and procedures.
a. Develops short and long-run goals and objectives for the financial services department.
b. Develops and implements operational plans, policies, and procedures for the financial services department which furthers the credit union’s objectives.
c. Continually evaluates established policies and procedures and updates or modifies them as necessary; ensures that policies are in accordance with evolving regulations, legal requirements, accounting principles, and industry trends.
d. Supervises the development and implementation of financial information and control systems, including general ledger, budgeting, cost accounting, mortgage accounting, and other subsystems.
e. Periodically reviews executive management’s information needs and modifies the reporting systems as needed.
2. Assumes responsibility for the effective preparation, maintenance, and reporting of internal and external financial records and analyses.
a. Oversees development and preparation of daily, monthly, annual, and other periodic financial statements and reports; ensures that accounts and reports provide responsibility centers with adequate operating and financial data.
b. Ensures that records and reports are in accordance with generally accepted accounting principles and government regulations.
c. Ensures that external document submissions and filings are accurate and timely.
d. Coordinates audits of financial records and statements.
e. Prepares and oversees the credit union budgets; assists in establishing operation budgets for each responsibility center.
f. Performs and oversees special studies for executive management, such as cost analyses, ratio and trend analyses, and other comparative examinations; detects and analyzes trends in financial data.
g. Prepares reports and analyses of departmental and branch operations and performance.
3. Assumes responsibility for establishing and maintaining effective communication and coordination with credit union personnel and management.
a. Aids and advises branch and department managers in handling accounting entries and reports and prepares various comparative analyses.
b. Coordinates functions with other departments; interfaces with information systems personnel in the development and implementation of efficient accounting procedures consistent with new applications.
c. Assists and supports credit union personnel; responds to questions and information needs.
d. Keeps executive management informed of area activities and of any significant problems.
e. Attends and participates in meetings and committees as required.
4. Effectively supervises the financial services department staff, ensuring optimal performance.
a. Provides leadership to the financial services department personnel through effective objective setting, delegation, and communication; conducts regular staff meetings.
b. Selects and trains personnel; analyzes training needs and develops programs to meet them.
c. Conducts performance appraisals as required; formulates and implements corrective actions as needed.
d. Directs, schedules, and coordinates financial services department functions.
e. Provides support and assistance to financial services department personnel as needed.
f. Ensures that the quality and integrity of financial services are maintained.
5. Assumes responsibility for establishing and maintaining effective business relations with vendors, outside auditors, regulators, and with professional trade groups.
a. Serves as liaison between the credit union and external auditors and regulatory authorities.
b. Represents the credit union with various trade professionals and groups.
c. Ensures that the credit union’s professional reputation is maintained.
d. Ensures that appropriate levels of confidentiality are maintained.
6.Assumes responsibility for related duties as required or assigned.
a. Stays informed of trends and changes in the accounting and tax fields.
b. Completes special projects as assigned.
c. Ensures that the financial services department work area is clean, secure, and well maintained.
PERFORMANCE MEASUREMENTS
1. Financial and accounting statements, records, and reports are accurate and timely, and that executive management is provided with useful and informative reports and data; the credit union’s financial position is accurately conveyed.
2. Appropriate department policies and procedures are developed and updated as needed.
3. Department functions are conducted in accordance with established principles, standards, and legal requirements.
4. Credit union assets are safeguarded and preserved.
5. Department personnel are effective and efficient.
6. Positive business relations exist with auditors, government officials, and trade professionals.
7. Good coordination and effective working relations exist with other departments; assistance is provided as needed.
Competencies
1. Financial Management.
2. Technical Capacity.
3. Performance Management.
4. Ethical Conduct.
5. Communication Proficiency.
6. Personal Effectiveness/Credibility.
Supervisory Responsibility
This position is directly responsible for the performance management and hiring of the employees within the financial services department.
Work Environment
This job operates in a professional office environment. This role routinely uses standard office equipment such as computers, phones, photocopiers, filing cabinets and fax machines.
Physical Demands
The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job.
While performing the duties of this job, the employee is regularly required to talk or hear. The employee frequently is required to stand; walk; use hands to finger, handle or feel; and reach with hands and arms.
This is largely a sedentary role; however, some filing is required. This would require the ability to lift files, open filing cabinets and bend or stand as necessary.
Position Type/Expected Hours of Work
This is a full-time position. Normal business hours apply. Evening and weekend work may be required as job duties demand.
Travel
Travel is primarily local during the business day, although some out-of-the-area and overnight travel may be expected.
Required Education and Experience
1. Bachelor’s degree in related field; thorough knowledge of financial accounting standards and principles.
2. At least ten years of accounting managerial experience.
Preferred Education and Experience
1. Master’s degree in related field.
2. CPA certification or advanced degree in business or related field.
3. Oracle experience.
Additional Eligibility Qualifications
- Thorough knowledge of generally accepted accounting principles.
- Thorough knowledge of credit union and industry accounting practices and procedures.
- Thorough knowledge of governmental regulations and reporting requirements.
- Extensive knowledge of related auditing functions.
- Technical understanding of automated accounting and other industry information systems.
- Understanding of credit union operations and information needs.