Operational Accounting Job Description

Operational Accounting Job Description

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Operational accounting provides accounting guidance related to proposed transactions to ensure conformity with Generally Accepted Accounting Principles, International Financial Reporting Standards, and company policies and procedures.

Operational Accounting Duties & Responsibilities

To write an effective operational accounting job description, begin by listing detailed duties, responsibilities and expectations. We have included operational accounting job description templates that you can modify and use.

Sample responsibilities for this position include:

Work closely with other functional areas (i.e., reinsurance, actuarial, IT, claims) and business management to resolve issues and support achievement of business goals
Ensure reconciliations are completed timely and accurately in accordance with Generally Accepted Accounting Principles (GAAP) and internal accounting policy
Reconciliation of broker accounts
Preparation of general ledger postings and monthly closings
Tracking fixed asset inventory
Analysis of margin calculations and daily cash requirements
Reviewing accounts payable processes
Financial operations of the company (includes one or a number of these processes
Developing and recommending financial strategies
Preparation of timely and accurate financial and management reports, and federal reporting

Operational Accounting Qualifications

Qualifications for a job description may include education, certification, and experience.

Licensing or Certifications for Operational Accounting

List any licenses or certifications required by the position: CPA, CIA

Education for Operational Accounting

Typically a job would require a certain level of education.

Employers hiring for the operational accounting job most commonly would prefer for their future employee to have a relevant degree such as Bachelor's and Master's Degree in Accounting, Finance, Business, Education, Business/Administration, MBA, Economics, Professional Accounting, Graduate, Healthcare

Skills for Operational Accounting

Desired skills for operational accounting include:

Microsoft Office
Particularly Excel and Word
US GAAP
Claims
Revenue estimation
Excel
Generally Accepted Accounting Principles
Industry and market trends to develop and champion long-term strategies
Microsoft suite
Personnel policies and procedures

Desired experience for operational accounting includes:

Experience in Cards and Payments is considered an asset
Working knowledge of Visual Basic for Applications (VBA), SQL, and Access databases
Strong system ability
Compliance with district-wide policies and procedures related to accounting policy and procedures, travel and discretionary spending, and recording of financial transactions
Overseeing administration of staff and ensuring that objectives are measurable
Building and fostering relationships and maintaining effective communication and coordination between the business areas, other banking companies the Board of Governors, vendors, and/or other external parties

Operational Accounting Examples

1

Operational Accounting Job Description

Job Description Example
Our company is hiring for an operational accounting. Please review the list of responsibilities and qualifications. While this is our ideal list, we will consider candidates that do not necessarily have all of the qualifications, but have sufficient experience and talent.
Responsibilities for operational accounting
  • Managing and planning staffing capacity to accomplish work, projects and address initiatives
  • Ensuring completeness and scope of work performed, assess impact to the company as a whole
  • Creating short and long term strategies that align with the overall company's strategy
  • Serving on System-level workgroups and subcommittees related to area of responsibility, and conduct and coordinate special projects
  • Working with internal and external auditors to service information requests related to audits and reviews
  • Process lockbox refunds (late charges, insurance cancellations)
  • Research / Resolve unapplied cash
  • Process non-monetary contract maintenance forms, address changes, void/reissue of invoices
  • Establish a governance process for maintenance of the Operational Accounting Schemas, effectively monitor changes to existing schemas and update and maintain the Operational Accounting Schema library accordingly
  • Analyze and document business requirements for modifications to the Chart of Accounts and propose solutions based on the published data model standard
Qualifications for operational accounting
  • Will consider recent grad
  • Two to three years professional experience, preferably in a high volume, fast paced Accounts Receivable or Accounts Payable section of a General Accounting group prefered
  • One year leasing industry experience preferred, but not required
  • Must be willing to work from an office in Stamford, CT
  • Must be willing to work from an office in the Fairfield County, CT
  • Perform analysis for the Managers review to make a decision for opening of new static data as required
2

Operational Accounting Job Description

Job Description Example
Our company is growing rapidly and is hiring for an operational accounting. To join our growing team, please review the list of responsibilities and qualifications.
Responsibilities for operational accounting
  • Oversee assigned monthly, quarterly, and annual general ledger closing and reporting processes
  • Assume primary responsibility for monthly underwriting system close and processes and serve as accounting to IT liaison for responsible IT systems
  • Review journal entries and complex account reconciliations including identification and remediation of all issues in compliance with audit requirements
  • Work with accounting management and the actuaries to ensure the accurate and timely recording of loss reserve data into ledger and the analysis of loss ratio results
  • Present financial results to management and senior leadership
  • Assist with the compilation and/or review of insurance company financial statements and ensure compliance with statutory guidance and regulatory deadlines
  • Organize team projects, schedules, and resources working with management
  • Manage and monitor the Canadian operational accounting unit’s workflow to ensure overall accuracy and timeliness of transactions
  • Prepare the monthly journal entries for Canadian Real Estate Regional Offices and notify Regional Offices that they have been accurately posted
  • Review and post the Canadian accounts payable and Job costing transactions
Qualifications for operational accounting
  • Ability to clearly articulate and document business requirements & processes
  • Bachelor’s degree in Accounting of Finance preferred
  • Bachelor’s Degree in a related area, Associate’s Degree in Accounting, Finance or Business Administration, or equivalent work experience
  • Experience with accounting standards
  • Associates degree in a business or accounting related field preferred
  • 5 to 10+ years of work experience (10+ for Lead) in the field of accounting and / or accounting systems
3

Operational Accounting Job Description

Job Description Example
Our innovative and growing company is looking for an operational accounting. Please review the list of responsibilities and qualifications. While this is our ideal list, we will consider candidates that do not necessarily have all of the qualifications, but have sufficient experience and talent.
Responsibilities for operational accounting
  • Monitor and supervise daily accounting functions to ensure timely and accurate payment of invoices, prompt cash deposits and application of rental payments to appropriate accounts
  • Assist in training Real Estate regional office and head office accounting staff to ensure compliance with Real Estate accounting and administrative procedures
  • On a monthly basis review the property income and expense transactions identifying variances and following up with branches to ensure activity is valid
  • Participate as a project team member in testing new Real Estate administrative and financial management systems and upgrades and the implementation of the Yardi Voyager system
  • Supervise global team and Green Hills associates in the preparation and review of asset accounting processes
  • Oversee preparation of monthly Cash Flow and Rollforwards additional quarterly reporting
  • Initiate and stabilize process improvements through controls and measures
  • Integrate LEAN into daily process
  • Plan, organize, and manage monthly settlement process and financial activities related to natural gas plant allocations, pipeline actualization, purchases, and sales to ensure fulfillment of contractual terms
  • Monitor and maintain accounting and financial reporting systems and relevant computer applications
Qualifications for operational accounting
  • Cards industry background, knowledge and expertise
  • Prior experience in BFSI Domain (Accounting, General Ledger)
  • Experience in Business Analysis and Application Testing
  • Advanced written and verbal communication skills in order to present ideas and findings to management and senior leadership in a professional manner
  • Minimum four years of progressive Real Estate Accounting experience
  • Thorough knowledge of Real Estate policies and procedures
4

Operational Accounting Job Description

Job Description Example
Our company is growing rapidly and is hiring for an operational accounting. Thank you in advance for taking a look at the list of responsibilities and qualifications. We look forward to reviewing your resume.
Responsibilities for operational accounting
  • Prepare periodic reports and assist in the preparation of monthly forecasts and annual budget
  • Use critical judgment and gained experience in previous jobs to monitor, identify and recommend opportunities to maximize the benefit derived from the selected accounting tools resulting in reduced close cycle time
  • Provide financial statements and related information on a timely basis and in compliance with regulatory and internal requirements
  • Use accounting expertise to apply GAAP, internal accounting procedures and best practices in support of structured financial control environment
  • Prepare month-end journal entries for various operating categories
  • Ensure the timely and accurate reporting of all operations through the PeopleSoft general ledger module
  • Complete the accounting close in accordance with the close calendar with no significant audit adjustments
  • Collaborate with the business unit team in preparing month end or adjusting journal entries as needed
  • Prepare statutory financial and other regulatory filings
  • Assist with the preparation of the annual budget
Qualifications for operational accounting
  • Financial system knowledge is required
  • Assist in the development and support of computer-assisted reconciliation templates and tools across all major loan servicing and accounting systems and Oracle General Ledger
  • Coordinate with other team members and Subject Matter Experts (SMEs) to identify, design, build, and perform analytics to provide additional risk and data controls
  • Assist in the maintenance of an effective system of internal control, including a supportive culture aligned with the Company’s business objectives and risk tolerance
  • Support the Company’s effort to transition major loan and deposit systems while maintaining effective and efficient processes, procedures, and internal controls
  • Provide support to other special projects as requested and other duties as assigned
5

Operational Accounting Job Description

Job Description Example
Our growing company is looking to fill the role of operational accounting. Please review the list of responsibilities and qualifications. While this is our ideal list, we will consider candidates that do not necessarily have all of the qualifications, but have sufficient experience and talent.
Responsibilities for operational accounting
  • Review and record inter-company transactions and prepare monthly invoices
  • Respond to audit requests for support documentation both in the corporate and business unit offices
  • Prepare internal control documentation associated with aforementioned job responsibilities and support accounting department internal control testing
  • Perform special projects as assigned by management, including process monitoring and close process improvement initiatives
  • Respond to various requests for ad hoc financial information
  • Collaborate with the internal stakeholders to obtain variance explanations on actual results compared to outlook
  • With department leader, manage corporate initiatives such as system or business migrations or enhancements, new product offerings, company integrations impacting assigned processes
  • Responsible for more complex accounting analysis, reports and projects
  • Reviews journal entries and prepares account reconciliations including supporting documentation to ensure accurate reporting
  • Assists in the interpretation, reporting and communication of financial information, and the preparation and communication of accounting information
Qualifications for operational accounting
  • Requires BA/BS degree with at least 2 years of relevant experience in technology, accounting, or audit-related functions, including direct relevant experience in data analysis
  • Experience in loan accounting, loan operations, general lending, or lending systems is a plus
  • Extensive knowledge of data analysis practices, principles, applications and analysis methods
  • Basic understanding and appreciation of accounting principles (GAAP) and regulatory guidance
  • Ability to work in a heavy, deadline-oriented environment
  • Bachelor's degree in related studies required

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