Bank Reconciliations Manager

Description : Bessemer Trust is recruiting a Bank Reconciliations Manager to join the Bank Operations Group based in Woodbridge, NJ. The successful candidate will be responsible for: Bank Reconciliations: Managing the Bank Reconciliations team and reviewing/approving all reconciliations, including: General Ledger Accounts (liability, asset and receivable accounts) Domestic and international bank accounts Security purchases, sales, dividends and interest Various bookkeeping accounts Transactions against the Fed statements Help the team research breaks, coordinate with other departments and clear exceptions Approval various transactions / bookkeeping entries in various accounting systems Maintain accurate approval records and prepare materials to assist in yearly audits Lead a proposed project to modernize and automate Cash Reconciliations at Bessemer via a Vendor Solution Act as department liaison with external vendors as needed Create & maintain detailed process documentation for reconciliation procedures Implement controls to ensure timely reconciliation for daily, weekly and monthly book closure Assist other members of the Bank Operations team around deadlines with time sensitive projects Experience with Banking Controls and performing Risk Assessments is preferred: • Analyze controls & provide feedback to minimize risk related to banking activities, including: o Perform yearly ACH Risk Assessments o Review NACHA updates regarding ACH rule changes & analyze impact to Bessemer o Coordinate with Internal Audit to conduct self-assessment for the Fed Assurance Program o Ensure proper segregations of duties and use of dual-approval in critical banking systems o Oversee System Access and User Administration for critical banking systems o Act as Bessemer's Federal Reserve EUAC (End User Authorization Contact) and oversee Finance department access to Federal Reserve Bank Reporting Central o Review Bessemer's procedures to maintain compliance with OFAC/BSA requirements, Wire Travel Rule, Reg-E, Remittance Transfer Rule and efforts of Fraud Prevention • Act as liaison between Bank Operations and Information Security, Compliance and Internal / External Auditors and Regulators Qualifications: Bachelor's degree Experience and education in accounting is a plus Nacha's Accredited ACH Professional certification (AAP) is preferred Familiarity with reconciliation platforms, business processes and financial systems Strong math and analytical skills Proven organizational skills with great attention to detail Proficient in Microsoft Excel and Word Good communication skills Strong work ethic, self-motivated, and detail oriented Must work well in a team environment Be available to work unannounced overtime when needed

Created: 2024-11-02