Staff Accountant

Background

AmPac Business Capital is a mission-driven, nonprofit lender dedicated to fostering economic development and empowering underserved communities.  Established in 2005,  AmPac has been committed to providing access to capital for small businesses and entrepreneurs who may face barriers to traditional financing. With a strong focus on SBA commercial real estate and business lending (SBA 504, SBA Micro-loan, SBA Community Advantage, State Guarantee, and direct loan programs) as a CDC and CDFI lender.  In addition, AmPac provides technical assistance, entrepreneurial coaching, and economic development resources through its Entrepreneurial Ecosystem.

AmPac Business Capital is poised for significant growth in the coming years.  Currently, we do business throughout the states of California and Nevada.

www.ampac.com

Summary

AmPac Business Capital is seeking an experienced Staff Accountant with a deep understanding of financial and accounting principles that can be easily translated into SBA lending and CDFI lending portfolio management. The position will oversee the work of a bookkeeping/payroll clerk and will have the potential to grow into a C-Suite role in the company.

The ideal candidate will play a critical role in our mission-based lending efforts, helping us grow our balance sheet to $35 million over the next two years and expand our loan portfolio by adding more than 150 loans. This role requires expertise in balance sheet and profit and loss preparation, analysis, loan loss reserves, and loan restructuring. Additionally, the Staff Accountant should possess a strong grasp of balance sheet metrics and ratios tailored for nonprofit lenders. This position will be responsible for providing monthly dashboards to communicate the company’s financial story, document trends, and identify challenges to our success. The successful candidate should embody AmPac Business Capital’s core values and be a collaborative team player who actively contributes to the collective success of the organization. Additionally, they should be innovative in identifying and onboarding new financial products and be proficient in leveraging technology to manage financial systems. Business travel maybe required.

Responsibilities

SBA and CDFI Financial Portfolio Management: Manage and monitor the SBA and CDFI lending portfolio, including loan loss reserves, loan restructuring, and compliance with regulatory requirements.

1. Financial Reporting: Prepare and analyze balance sheets, profit and loss statements, and financial statements to provide insights into the company’s financial health.
2. Strategic Growth: Contribute to the development and execution of strategies to grow AmPac Business Capital’s balance sheet and loan portfolio, including identifying opportunities for new products and services.
3. Monthly Dashboards: Create and present monthly dashboards that convey the company’s financial performance, trends, and potential challenges, enabling informed decision-making.
4. Core Values: Embrace and exemplify AmPac Business Capital’s core values in all professional interactions and decision-making.
5. Collaboration: Collaborate effectively with cross-functional teams and divisions to facilitate the collective success of the organization.
6. Innovation: Continuously seek innovative ways to improve processes, onboard new financial products, and enhance the efficiency and effectiveness of financial systems.
7. Technology Proficiency: Utilize financial technology tools and systems to streamline financial operations and reporting.

BANKING:

• Manage up to 20 bank accounts.
• Deposit checks to the appropriate bank account.
• Check bank daily for ACH or wire deposits and/or withdrawals to the accounts – book accordingly (research if required)
• Review balances daily, weekly, or monthly as appropriate and complete a monthly reconciliation for each account.
• Digitally store bank statements monthly
• Print or store monthly bank reconciliations (these are currently bound with a copy of the bank statement) 

RECEIVABLES:

• Includes tracking of loans receivable (see “Loan Assets”) and some forecasted receivables.
• Book monthly payments of SBA 504 closing revenue (mid-month)
• Book Monthly payments of SBA Servicing fees (reconcile this to excel sheet) – receive the detail from SBA 504 loan closer.
• Compile and maintain a list of all loans receivable and prepare an amortization schedule for each (excel)
• Within the loan management systems, maintain a list of all the loans including “special” terms i.e., interest only, different billing dates, deferred payments, SBA payments, or other changes:
• Update the above list of loans receivable monthly with their new balances.
• Enter principal & interest billing information for each loan receivable into QuickBooks prior to month-end – reconcile (a) with (b) within 1 week of month-end to provide the (a) list to be placed on share file to be used for SBA reporting.
• Process ACH collections for all applicable loan’s receivable on the 1st or 16th of the month; ensure timely payments; notify staff of rejected payments; collaborate on modifications and payment solutions.
• From banking on-line reporting, book the payment or non-payment for each loan into QuickBooks.
• Maintain a list of payee information and interest paid per loan payee to be reported via 1098 at year-end.

NEW LOANS:

• Provide a “draft” amortization schedule for each new loan (for the borrower) to be finalized before funding.
• Collect Name, address, tax ID #, and ACH banking information for each new loan.
• Enter the ACH banking information into the banking website twice – once for making the loan payment and once for collecting the payments on the loan.
• Fund the loan, less fees to the borrower via ACH payment.
• Prepare a settlement sheet and a final amortization schedule to be provided to the borrower.
• Provide a copy of the settlement and amortization to the microloan processor.
• Maintain a copy of the amortization to be used in billing the borrower.
• Maintain copies of deposits, billings, et al.

PAYABLES/LIABILITIES

• Ensure timely payment on all accounts payable, including credit card, rent/mortgage, copier, etc.
• Credit Card – Reconcile credit card statement with invoices provided and enter those items not provided – address any inconsistencies; transfer funds to pay them with credit card balance.
• Book new loans payable in general ledger
• Put loan agreements in a “loan” file on share file (but a copy in the annual audit file)
• Book loan payments monthly (these are all on automatic deduction except for 1 PW payment)
• Reconcile loan balances with statements monthly – keep these statements in “loan file” – these come in the mail so need to be scanned if you want to set up an “electronic file.
• Book accrued interest on any loans that have interest that is not paid.
• SBA Loans – special case
• Confirm the bank and loan balances after the payments drawn on the 8^th of the month – reconcile with the general ledger.
• Calculate the monthly requirements for compliance using new loan balances for each loan receivable and the SBA loan balance. Add or subtract funds from/to the MRF accounts to ensure compliance with the Loan Loss Reserve for these loans.
• Maintain a file of invoices, with date paid and check number or ACH receipt. 

PAYROLL

• Ensure that payroll is maintained properly.
• Provide overside of the payroll agreement with the payroll company.
• Ensure that staff maintains payroll information through the payroll company, including W-4, I-9, ACH information, e-mail, start date, payment rate, classification, collect time sheets as appropriate; ensure the timely payment of payroll, including health benefit payments, telephone allowance, and retirement contributions.
• Calculate referral fees based on BDO’s percentage – have them approved by Management before paying.
• Reconcile health insurance bills with the payroll allocations (payment is deducted automatically monthly)
• Make IRS and EDD payments on a timely basis.
• Prepare and file monthly and quarterly and annual payroll reports.
• Complete the annual workman’s compensation audit. 

MONTH END TASKS

• Book Interest Received
• Do Bank Reconciliations and store with bank statement.
• Create regular journal Entries.
• Check G.L. for accuracy – resolve discrepancies.
• Book P & I for loans receivable
• Calculate the loan payable ratios and complete the schedule.
• Store schedules on share file for use by others.

Requirements

• Bachelor’s degree in accounting, Finance, or a related field; CPA or MBA with an emphasis in accounting or similar certification is a plus.
• Significant experience or ability to learn quickly in SBA lending and CDFI lending financial reporting and portfolio management.
• Experience utilizing QuickBooks-Online, Microsoft Office applications (knowledge of Venture Loan Management platform is desirable).
• Strong knowledge of balance sheet and profit and loss preparation and analysis.
• Familiarity with nonprofit financial metrics and ratios.
• Experience in loan loss reserves and loan restructuring.
• Proficiency in financial system management and technology.
• Excellent communication and presentation skills.
• A commitment to AmPac Business Capital’s mission and core values.
• Innovative mindset and a willingness to embrace new financial products and.

Compensation and Benefits

Job Title:        Staff Accountant (Full-time/Exempt)

Reports to:   Chief Executive Officer (C.E.O.)

Salary:           $80,000 to $100,000 annually based on qualifications/experience

Benefits:

• Four weeks paid vacation after successfully completing the 90-day introductory period.
• 401K – after one year, employer contribution up to 4% match.
• Eligible for Medical/ Health benefits after successfully completing a 90-day introductory period (partially paid by employer).
• You will be eligible for five (5) days of paid sick leave after successfully completing the 90-day introductory period.
• Technology allowance $75.00 per month

How to Apply

Please email a resume and any documentation supporting your work experience and qualifications directly to Myron Perryman ([email protected]) or Hilda Kennedy ([email protected])