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Investment Accounting Analyst II

Company: Amerant Bank
Location: Miami
Posted on: March 18, 2023

Job Description:

The Investment Accounting Analyst II maintains accurate financial and accounting records of proprietary investments and derivatives of Amerant Bank and affiliates. Ensures accuracy of entries to ledger accounts in agreement with sub-ledger. Researches and clears reconciliation items. Supports the operations of Treasury. Responsibilities include: General: Monitor Investment Activity and work closely with Treasury, General Accounting and Financial Reporting to ensure all transactions are accounted for timely and accurately in the sub-ledger and in the General Ledger. Ensure that all accounting entries are interfaced to General Ledger accurately. Prepare journal entries with related support as needed. The Investment Accounting & Operations Analyst performs the first step to ensure the integrity of financial information of proprietary investments of the Bank.Securities Portfolios:

  • Responsible for ensuring that Security Master File information entered by Front-Office is correct:
  • Add GL Group according to security type according to Financial Reporting classification
  • Ensure that Call Report classification is correct - must consult with Treasury and Financial Reporting if there are any issues and provide classification suggestion
  • Compile the "trade package" containing all pertinent supporting information for the transaction and attach to Sub-Ledger position record
  • Review accruals & payments against custodian: Analyze results and propose solutions if discrepancies are found
  • Coordinate efforts with Treasury Operations Officer to ensure proper and timely recording of cash movement in GL.
  • Maintain location of positions in Sub-Ledger
  • Assist with review and maintenance of Derivatives as backup to Analyst II and Team LeaderAccounting & Reconciliations:
    • Prepare manual journal entries with proper support as needed & book into GL.
    • Prepare Sub-Ledger journal entries extract daily for review of unusual fluctuations:
    • Analyze and explain any abnormal fluctuations
    • Fix any issues with cash entries as compared to custodian records and EOD Report from Treasury Operations Officer
    • Assist in analyzing, researching and coordinating efforts with all areas involved to resolve reconciling differences within 5 business days:
    • Prepare daily GL vs Sub-Ledger reconciliations & provide comments for any variances
    • Resolve cash discrepancies on reconciliations prepared by General Accounting
    • Resolve discrepancies in safekeeping reconciliations: Custodian vs Sub ledgerValuation of portfolios & end of reporting period:
      • Review all of monthly exceptions reports and ensure completeness of information
      • Enter "missing prices" into Sub-Ledger
      • Prepare and book entries for tax allowance
      • Assist Analyst II and Team Leader with valuation process as neededFinancial Statements & other regulatory reports:
        • Assist with preparation of information for certain Notes to Financial Statements
        • Prepare Rollforward reports used for Statement of Cash FlowsNew Products:
          • Assist with research of proposed new products in coordination with Treasury, Financial Reporting, General Accounting and other areas for proper accounting and regulatory reporting
          • Assist with documentation of new product accounting implications within Treasury's Product ManualMarket Data: Update and maintain certain key market data into sub-ledger:
            • Index rates
            • Adjustable rates
            • Paydown factors
            • Pre-payment speeds
            • Cash Flows
            • Ensure that all market data is updated by reviewing Exception Reports
            • Analyze results of market data updates for material fluctuations in income and provide feedback to Team Leader and/or ManagerProcesses and procedures:
              • Maintain departmental procedures up to date
              • Write up procedures for any new processesAuditing: Assist with support for Audit Requests. Investment Files:
                • Maintain Investments' electronic support for all transactions - within the subledger system or otherwise in the network drives.
                • Make sure that all transactions are signed off as needed and any issues are addressed timelyProjects:
                  • Continuously analyze current daily/monthly processes and propose ways to streamline and automate
                  • Other departmental or company projects expected to be completed timelyOther:Other duties or projects as requiredWork Experience:Two years' experience in accounting for investments, preferably with mortgage backed securities and derivatives. Banking or Mutual Fund experience preferred. Education:Bachelors Degree in Accounting or Finance. Masters degree in Accounting or Finance candidate preferred.

Keywords: Amerant Bank, Miami , Investment Accounting Analyst II, Accounting, Auditing , Miami, Florida

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