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Jobs at Meridian Credit Union Limited Talent Network
Financial Accountant - Part-Time 12 Month Contract
Job Description

Purpose of the Job:

This role supports both Meridian Credit Union and motusbank for all listed tasks, as applicable to each company. The Financial Accountant is accountable for (i) the control, accuracy and integrity of the Treasury Investment Administration, (ii) the preparation of daily accounting transactions related to the bank and suspense accounts, (iii) the performance of account reconciliations and investigation and (iv) the posting of various foreign exchange rates for the organization.  This position will act as the primary contact for Branches, CBC’s and Corporate Departments relative to transactional processing and investments. 

Key Responsibilities:

Treasury:

  • Post foreign exchange rates daily on Encore and on MNET, monitoring throughout the day and updating as necessary.
  • Complete daily investment administration duties relating to investments, foreign exchange, and borrowings. Duties include preparation of wire transfers, daily and period-end entries and schedule preparation, ensuring management approvals for investment entries and maintaining supporting documentation.
  • Prepare special pricing quotes to branch staff for the buying or selling of U.S. funds over $10,000 for retail Members.

Credit Card Settlement

  • Daily wire processing to settle credit card transactions.
  • Complete daily settlement transaction processing and posting of all journal entries which includes payments, manual adjustments and US conversion entries.
  • Reconcile GL’s daily and monthly, ensuring that all credit card suspense GL’s are in balance. Ensure timely follow up is completed for all outstanding items.
  • Reconcile bank accounts related to credit card weekly or monthly, depending on account type.
  • Reconcile payment recalls and credit balance refund requests, and work with branches to refund to the Member.
  • Follow up with credit card provider on outstanding items and issues.

Nominee Broker Settlement

  • Perform daily settlement and batch processing for all deposits received from brokers.
  • Settle and send EFTs for payments to brokers on a daily and one-off basis.
  • Process and settle monthly commission payments to brokers.
  • Reconcile all accounts and GL’s daily and monthly, ensuring that all nominee GL’s are in balance.  Ensure timely follow up is completed for all outstanding items.
  • Work with Treasury and Operations and third party providers on outstanding items and issues.

Transactional Processing and Reconciliation:

  • Daily wire processing for Telus Assure Tax payments.
  • Weekly or monthly balancing and reconciliation of all corporate bank accounts and follow up on transactions that have not cleared.
  • Daily posting of all Central 1 debit and credit advices.
  • Enter ABM remote cash orders on Central 1 Secure Site, post transactions and reconcile accounts related to ABM Remote Cash.
  • Reconcile all Member incoming and outgoing wire transactions (CAD/USD/Foreign), investigate transactions that have not cleared with branch, or Central 1 and reconcile related suspense accounts on a daily basis. Support branches for all wire related enquires. Responsible for any requests received by Central 1 relating to wire issues.
  • Reconcile all Member drafts (USD/Foreign), investigate transactions that have not cleared with branch or Central 1 and reconcile related suspense accounts on a daily basis. Liaise with Western Union for draft cancellations and stop payments.
  • Monitor our Western Union draft settlement accounts and post draft refunds, cancellations, and buybacks to the appropriate branch suspense account and notify branch personnel.
  • Reconcile and post to the AFT and cheque return suspense accounts daily, investigating transactions that have not cleared with Ops Processing staff.
  • Reconcile all branch cash orders and returns, investigate transactions that have not cleared with branch or Central 1 and prepare a daily reconciliation of the related suspense account.
  • Reconcile the deposit suspense account, investigate transactions that have not cleared with branch staff and prepare a daily reconciliation of the related suspense accounts.
  • Reconcile the foreign cash suspense accounts daily, investigating transactions that have not cleared with branch or Central 1 staff.  Liaise with CXI for all foreign cash issues.
  • Balance, scan, and remit all CAD and USD cheques processed through the St. Catharines corporate office.
  • Post daily clearing entries.
  • Post various journal entries for branches and other departments that either do not have the ability to post on Encore or have restrictions on their posting capabilities.
  • Reconcile product portfolio general ledger accounts on a daily basis. Responsible for investigation of outages on a timely basis. Liaise with Business Analysts to ensure awareness and action is taken on system related issues.
  • Reconcile the general ledger trial balance on a daily basis. Responsible for investigation of outages on a timely basis. Liaise with Business Analysts to ensure awareness and action is taken on system related issues.
  • Investigate transactions in the teller over/short and unpostable accounts in the general ledger. Liaise with Business Analysts to ensure awareness and action is taken on system related issues.
  • Prepare assigned month-end journal entries, schedules and reconciliations.
  • Involvement in special project work, either independently or as part of a team.

Support:

  • Ensure timely responses to all enquiries, via phone, e-mail, or the Financial Accountant e-mail group
  • Support branches on all Member wire transactions (incoming and outgoing) on the MTS system.
  • Provide support to branch staff for foreign and USD drafts prepared using Western Union Business Solution’s FX Drafts on-line system via Central 1.
  • Provide support to branch staff for foreign cash buy and sell transactions processed using CXI’s FX Notes Plus on-line system via Central 1.
  • Review the quarterly trial balance packages prepared by branch, CBC and corporate office departments and work with the preparers to reconcile account differences and outstanding items.
  • Respond to inquiries related to general ledger or Member account postings and reports.

Administration:

  • Responsible for maintaining the log of boxes on site in the vault and storage of month end information. Also responsible for co-ordination of off-site storage of boxes.
  • Filing of daily work for the Financial Reporting teams.
  • Distribute daily mail to the appropriate individuals within Financial Reporting.

Problem Solving:

  • Problem solving skills are required to identify and correct outages in product portfolio accounts, general ledger, trial balance, teller over/short and unpostable accounts and make recommendations to eliminate future outages.
  • The ability to identify variances arising from improper coding or classification requires problem solving skills of varying degrees, depending on the complexity of the transaction.
  • The ability to identify and correct issues with foreign exchange rates prior to posting is required.
  • The ability to incorporate Lean methodology and innovation solutions in to processes and procedures.

Communication:

  • Requires tact and diplomacy to respond to inquiries from across the organization relating to the Financial Accounting functions or processes, especially those related to transactional postings, foreign exchange rates, and foreign currency.
  • Requires high level of professionalism when communicating with Members or branch staff regarding investment activities, pricing or rates, and investigation on reconciling items.
  • Requires tact and diplomacy to discuss outages in product portfolio accounts, general ledger trial balance, teller over/short and unpostable accounts with those responsible for the outage.

Knowledge, Skills and Experience:

  • College or University diploma in the accounting/finance area is preferable.
  • In-depth knowledge of Microsoft Office applications (Word, Excel, and Outlook) and a good understanding of Data Warehouse, Central 1 Secure Portal, and the MTS wire platform.
  • In-depth knowledge of the Encore system, processes and data structures.
  • General knowledge of wire transfers preferred.
  • Excellent interpersonal and communication skills.
  • Proven problem solving skills and the ability to implement solutions at an operational level and present alternative courses of action rather than just identifying issues.
  • Ability to work to a high degree of accuracy.
  • Ability to influence and effect change in an environment of continuous improvement.
  • Ability to work independently with minimal supervision or as part of a team.
  • Ability to manage multiple tasks in a fast-paced environment while prioritizing to ensure that deadlines are met.
  • Strong reconciliation skills required.

Experience the Difference!

Thank you for your interest in Meridian Credit Union. Please note that due to the volume of applications, only those under consideration will be contacted for an interview.

Meridian is committed to providing accommodations for people with disabilities. Should you require an accommodation, we will partner with you to meet your needs.

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Job Requirements

 

Company Overview

Meridian is Ontario’s largest credit union, helping more than a quarter of a million Members grow their lives and businesses.

As a credit union, we are 100 percent owned by our Members. We work only for them, with profits returned to our Members in the form of the best products and services we can offer.

We get to know our Members so that we can proactively advise them on ways to save money, how to invest for the future and what financial solutions are in their best interest.


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