Staff Accountant II
at SoFi
Cottonwood Heights - UT, New York City - NY, San Francisco - CA
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The role:
SoFi is seeking a Reg W and Intercompany Accountant to join SoFi’s Controllership Team, reporting to the Intercompany Accounting Manager. In this role, the Reg W and Intercompany Accountant will support the Controllership mandate of having accurate consolidated and stand-alone financial results by ensuring intercompany activity is captured appropriately and eliminates correctly. The Reg W and Intercompany Accountant will perform monitoring and validation procedures to ensure SoFi Bank remains in compliance with Regulation W Section 23A and 23B. The Reg W and Intercompany Accountant will support regulatory reporting and board reporting needs as it pertains to intercompany activities and balances.
What you’ll do:
- Gain an in-depth understanding of the SoFi systems and how intercompany transactions flow and appropriately eliminate.
- Monitor variance accounts and address any balances created throughout the close process
- Reconcile Intercompany Receivable/ Payable accounts on a monthly basis to ensure activity is appropriately charging within legal entities
- Prepare, instruct, and track monthly settlement of Intercompany payables through collaboration with Bank Operations and Entity Controllers
- Compute and post interest on Intercompany Notes and Regulation W collateral in accordance with legal and contractual requirements
- Monitor Bank activities for any potential ‘covered transaction’ under Regulation W Section 23A
- Post manual journal entries for intercompany contracts that are compliant with Regulation W Section 23B.
- Execute Equity Pick Ups during monthly close and validate results
- Prepare 23A assessment and Vendor Attribution Reviews quarterly in compliance with Reg W
- Assist in the monthly, quarterly, and year-end close processes as well as assisting with audit requests
What you’ll need:
- Bachelor’s degree in Accounting, Finance, or Business or equivalent
- 2+ year of experience in accounting and close activities
- Applied working knowledge of U.S. Generally Accepted Accounting Principles and accounting procedures
- Strong organizational, analytical, mathematical, and project management skills
- A forward-thinking and hands-on approach
- A desire to learn
- Proactive and self-driven with the ability to think creatively within a flexible environment
- Strong knowledge of accounting theory and practice
- Computer skills, including Excel, Word, and general ledger and reconciliation systems
- Knowledge of balance sheets, income statements, and mathematical concepts such as fractions., percentages, and ratios
Nice to have:
- Experience with Workday Financials
- CPA certification is a plus
- Audit experience
- Prior work experience performing Regulation W compliance and intercompany accounting