Mayo Employees Federal Credit Union (MEFCU) is looking for a person with an aptitude for numbers, a keen attention to detail, and strong interpersonal skills to join our team as an Accounting Specialist ! At a Glance - Job Information Department: Accounting Days of Work: Monday - Friday 8 AM - 5 PM; occasional Saturday morning hours (approx. every 5-6 weeks) Starting salary range: $25-$27 per hour based on experience Location: Rochester, MN FLSA Status: Nonexempt Schedule: Full time Hours/Pay Period: 80 Remote Worker: No Job Summary The Accounting Specialist is an entry level, professional position that assists with all accounting-related functions at MEFCU. Primary job responsibilities include financial statement preparation, cash management and investment activities, as well as assisting with all regulatory exams and audits. Duties and Responsibilities The duties listed below are representative of the scope of work performed within this position. Individuals will be assigned to specific areas of responsibilities in both lead and back up capacities. Completes all accounting entries to balance the credit union's general ledger.
- Runs and analyzes reports to assure the credit union's financial statements are always in balance.
- Assists in the preparation of various balancing and reconcilement activities to maintain integrity and accuracy of our general ledger and financial reporting.
- Reconciles the Credit Union checking account(s) and various correspondent accounts to our general ledger.
- Balances ATM currency amounts and all other ATM transactions to our general ledger. Processes ATM disputes.
- Processes accounts payable transactions, maintains prepaid asset listing and assets that need to be depreciated by the Credit Union.
- Maintains fixed asset depreciation and prepaid assets records.
- Balances off-system loan records to the general ledger accounts.
- Posts credit insurance and collateral protection insurance premiums to member accounts and completes the necessary reporting to our insurance provider.
- Calculates insurance premiums for Excess Share Insurance and maintains the proper amount of insurance coverage from our provider.
Processes wire transfer requests in accordance with OFAC and MEFCU policies and procedures.
- Processes requests for domestic and international wire transfers.
- Processes incoming wire transfers.
- Completes OFAC requirements for wires and other applicable transactions.
Communicates with members regarding account discrepancies as appropriate.
- Investigates member concerns regarding account inconsistencies and communicates corrections and documentation to the member to support all findings.
- Issues warning letters to members who fail to maintain their deposit accounts appropriately and initiates a recommendation to force close the account when deemed necessary.
- Identifies and follows up appropriately on potential fraud activity.
Supports the Payments Department functions related to Automated Clearing House (ACH) transactions and daily check processing in a backup capacity as needed.
- Sets up ACH originations for new membership openings and loan payments.
- Monitors all incoming and outgoing ACH file activity.
- Process originating ACH files, including external account transfers.
- Posts and balances ACH files.
- Balances and research rejected items.
- Sends returns and notifications of change within the regulated timeframes.
- Force posts exceptions to members accounts as outlined in MEFCU policies and procedures and charges applicable fees.
- Processes share draft settlement activity.
- Posts and balances share draft settlement activity.
- Research rejected items.
- Charges appropriate fees.
- Sends returns within the regulated timeframes.
- Assists with electronic payments and alert capabilities.
Assists with all credit union audits and financial reporting.
- Processes monthly, quarterly, and annual data processing reports to complete financial reporting to management, regulators, etc.
- Completes other reporting as needed and requested by management.
- Manages the storage, retention, and destruction of department records in accordance with Credit Union policies and procedures.
- Prepares financial and tax reports as needed.
Requirements Education and Experience A Bachelor's degree in Accounting or related field. All employees must be bondable by MEFCU's insurance policy. Continued employment is subject to maintaining favorable bondable status per insurance standards. Physical and Environmental Criteria The physical effort required to perform this position is best described as: Sedentary - Exerting up to 10 pounds of force occasionally and/or a negligible amount of force frequently or constantly to lift, carry, push, pull or otherwise move objects, including the human body. Sedentary work involves sitting most of the time. The majority of this position involves computer work, which requires fine dexterity in the continuous movement of the wrist and fingers. Sensory requirements necessary in the performance of the essential functions of this position include sight, hearing, and touch. Environmental conditions that may exist in the performance of the essential functions of this job include: NONE. Salary Description $25-$27 per hour