The Silicon Valley Bank is hiring CA Inter/ CPA Inter for the post of Analyst.
The Silicon Valley Bank, a subsidiary of SVB Financial Group, is a U.S.-based high-tech commercial bank. The bank has helped fund more than 30,000 start-ups. SVB is on the list of largest banks in the United States. The bank is also one of the largest providers of financial services to wine producers in Napa Valley.
Job Description
- Prepare and post GL monthly journal entries with detailed supporting documentation to provide a clear audit trail within agreed timelines
- Coordinate with accounts receivable and multiple business teams for validation of revenue accrual and deferral, and other journals from banking products. Prepare workings to calculate and post journal entries for them to ensure revenue recognition as per relevant accounting standards
- Loan and treasury accounting: Interest accruals, loan, and debt amortization, true-ups, accounting pertaining to equity, stock, bond purchases
- Warrant accounting: Entering new warrants information, valuation, and volatility set-up, and analysis, pricing update and reporting, income reporting, IPO tracking, gain-loss analysis
- Run preliminary trial balance and trending reports and perform variance analysis to identify any anomalies in accordance with policy and guidelines at SVB
- Ensure accuracy and completeness of documents processed
- Interact with other teams for open items/ issues arising out of book closure activities Reconciliations
- Reconcile balance sheet accounts for assigned accounts and generates reconciliation/ certification report
- Ensure reconciliations of sub-ledgers in accordance with the procedure and month-end close calendar.
- Escalate variances to business for resolution and facilitate the resolution of variances
- Process authorized adjustments and/or write-offs received and authorized through the journal entry template reporting
- Creation of Close packet: Extract financial reports, management reports, trial balance and financial statements post-period close completion
- Review the prior period’s financial reporting process and data for a month-on-month data and commentary comparison and identify changes that need to be made to the reporting process
- Update financial reporting with supplemental financial information received from business
- Validate the quality of reports via data validation, trend analysis, variance analysis, etc., and escalate any identified information requiring business attention and/or resolution
- Generate and distribute reports for review by business stakeholders and management
- Respond to queries on reports and facilitate the production of additional reporting information to business stakeholders and auditors
- Supports ad-hoc analysis and reporting
- Quality Assurance & SLA Compliance
- Ensure a high level of accuracy in General Ledger
- Add to the knowledge management databases, particularly regarding the resolution of issues
- Adhere to period-end close SLAs
- Participate in process improvement initiatives to increase efficiency in general accounting internal control and accounting compliance
- Maintain documents relating to accounting compliance (SOX) and internal controls
- Ensure compliance with accounting policy operational Excellence
- Execute initiatives related to operational excellence
- Provide ideas for process improvements Builds relationships with internal/external customers and collaborates to resolve disputes
Required Education and Experience
- Good knowledge of Microsoft Office (Word, Excel, PowerPoint, and Outlook)
- Understanding of US GAAP
- 1-3 years of experience in the accounting function, with a focus on revenue accruals, loan accounting, and treasury accounting
- Understanding of financial accounting and reporting process
- Working knowledge of PeopleSoft ERP system (PSGL)
- Experience of working within the banking industry
- CA Inter/ CPA Inter
- Experience of working in an SSC/ BPO
- Prior experience with reconciliation tools like CAT, Accurate.
Location: Bengaluru
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