Employment with MOHELA - Job Detail

Responsibilities

General Statement of Duties: Accounting for Bond and General Fund activity. Responsible for journal entry posting, bond and general fund reconciliations, fund transfers, account analysis, trustee settlements and month end closing. Work with Accounting Management and staff in the maintenance of accounting policies, procedures and internal controls.
Responsibilities
• Month End Closing – Assist in the month end close process including recording of journal entries, variance analysis, trial balance review, account analysis and general ledger reconciliation.
• Bond Interest Expense Accruals – Accrue monthly bond interest expense. Accurately update interest rates in bond schedules and on master rate schedule. Analyze and maintain proper fund balances in bond accounts within the general ledger.
• Daily Settlement with Trustee – Input settlement journal entries with proper general ledger account classification. Ensure that settlements are completed by the deadline each day. Resolve settlement issues with the trustee in a timely manner.
• Daily ACH/Wire Process – Verify support documentation for all ACH and Wire transactions. Compare documentation to details of ACH and Wires to ensure totals are accurate and beneficiary and bank account information is accurate. Check that proper approval has been received. After thorough review release transactions through the bank treasury management system.
• Bond Fund Reconciliation – Reconcile and maintain all account activity relative to a variety of Student Loan Bond Trusts. This includes gaining knowledge of specific bond document requirements related to required indenture reporting and compliance, student loan receivable reconciliation and debt service management.
• Student Loan Reconciliation – Record and reconcile the monthly principal and interest balances from the servicing system. Verify that balances in the general ledger are equal to the servicing system. Research outstanding reconciling items in a timely manner and make proper adjustments.
• Trustee Statement Reconciliation – Record and reconcile the monthly financial activity of the trustee statements for each assigned bond. Record bond activity as it relates to the bond with a thorough understanding of the journal entries.
• Statistical Report Generation – Prepare monthly statistical reports and graphs representing financial activity.
The list of duties and responsibilities is not intended to be all-inclusive and can be expanded to include other duties or responsibilities that management deems necessary.

Requirements

• Bachelor Degree in accounting with one to two years related accounting experience. CPA preferred.
• Prior application and/or knowledge of Generally Accepted Accounting Principles
• Individual will frequently be required to work beyond 5pm.
• Exceptional competency in Microsoft Excel. Proficient in Microsoft Word. Experience with MAS 200 and COMPASS a plus.
• Ability to work in fast-paced environment with probable, frequent interruptions.
• Detail-oriented, considerable initiative and ability to work well with others.
• Should possess a high degree of professionalism, confidentiality, courtesy, tact and good written and verbal communication skills.

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