Senior Accountant (Loan Accounting)
Company: Reinvestment Fund
Location: Philadelphia (Headquarters), PA
Job Function: Financial Services
About Reinvestment Fund
Headquartered in Philadelphia, Reinvestment Fund operates nationally with regional offices in Baltimore, MD, and Atlanta, GA. Reinvestment Fund is a national mission-driven financial institution that creates opportunity for underserved people and places through partnerships. We marshal the capital, analytics, and expertise necessary to build strong, healthy, and more equitable communities.
As a federally certified community development financial institution (CDFI), our job is to make finance an agent of positive change and equitable growth. We provide loans, grants, and technical assistance to businesses and nonprofits. Our borrowers and grantees educate students, support local economies, and create jobs. They build affordable housing and provide community goods and services that include access to nutritious food, hunger relief, physical and mental health care, and other social services.
This position will be located at our Philadelphia, PA, Headquarters location. Reinvestment Fund provides a flexible work arrangement of two days onsite and three days remote allowing for face-to-face interactions. Depending on the nature of the job, a more flexible work schedule may be considered.
About the Position:
The Senior Accountant will report to the Assistant Controller and is responsible for assisting with all loan receivable accounting and ensuring compliance with US GAAP, in this position you will be part of a talented and passionate team of communicators and business development staff, lenders, portfolio managers, analysts, grant program managers, accountants, and policy researchers who bring their unique talents to our mission. This is a position that will have opportunity for growth and challenge as the department continues to enhance its financial infrastructure.
Loan Accounting Responsibilities will be as follows:
• Approve daily loan cash application entries, loan disbursements, and participation payments.
• Calculate and record interest income and fair value on loans for our investment advisory funds.
• Reconcile all loan-related general ledger accounts.
• Prepare and record the Organization’s Current Expected Credit Loss Calculations.
• Review and approve impairment analyses and loan modifications for accounting implications.
• Review participation agreements for proper accounting treatment.
• Perform actual vs. budget variance analysis over lending activity.
• Prepare schedules and journal entries for monthly close.
• Assists other team members in various accounting processes as needed.
• Analyze various P&L and balance sheet accounts on monthly basis.
• Assist the auditors in completion of the annual financial audits, including preparing appropriate financial schedules and footnote disclosures needed
• Assist in preparation of annual surveys and other ad hoc reporting.
EDUCATION, EXPERIENCE, AND SKILLS
To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required.
• Bachelor’s degree in accounting required, advance degree or certifications a plus
• Minimum 3+ years related job experience in accounting, preferable with a national public accounting firm.
• Experience in the financial service industry is required.
• Thorough understanding of US GAAP and Uniform Guidance
• Strong general ledger skills are required. Familiarity with NetSuite ERP a plus.
• Must have demonstrated proficiency in Microsoft Office, particularly Excel, and ERP systems.
• Excellent verbal and written skills; ability to interact comfortably with all levels of management
• High degree of accuracy and timeliness in work
• Proactive individual, accustomed to taking initiative.
Compensation and Benefits
Reinvestment Fund offers a competitive salary based on experience and skills, as well as an excellent benefits package including employer-paid health, disability and life insurance, 401(k) savings plan with employer match, flexible spending accounts (medical, dependent care and transportation), tuition reimbursement, reimbursement for accreditation re-certifications, paid time off, and EAP program.
Reinvestment Fund uses E-Verify to validate all new hires’ ability to legally work in the United States. Reinvestment Fund is an Equal Opportunity Employer. Reinvestment Fund does not discriminate in hiring or employment practices on the basis of race, color, religion, gender, age, sexual orientation, marital or familial status, national origin, non-job-related disabilities, or status as a veteran.
Reinvestment Fund, Inc. has an affiliate, RF Impact Advisers, Inc. (“RFIA”) which is a state-registered investment adviser. In order to advance compliance with and prevent violations of federal and state securities laws and to avoid even the appearance of a conflict of interest, RFIA has adopted a Code of Ethics to govern certain conduct of its staff, including certain staff of Reinvestment Fund because Reinvestment Fund is an advisory affiliate of RFIA. As part of this Code of Ethics, there are specific personal reporting and other requirements and disclosures of personal financial and/or securities transactions information. For certain individuals, this reporting will extend to your household members. You may be subject to a background check.
How to Apply
Vaccination Update: We value the safety and well-being of our RF Community, which includes staff and beyond. As such, our team has chosen to require all staff, interns, and contractors to be *fully vaccinated as a contingency of employment. Fully vaccinated is 1 or 2 vaccinations (according to pharma and 1 booster) Exemptions for Religious and Medical requests will be reviewed. *Please review this contingency prior to making application.
TO APPLY FOR POSITION
Please complete the online employment application and attach your resume and a cover letter with your salary requirement. Careers — Reinvestment