Accounting Specialist - Rochester - Five Star Bank

Description

Purpose: The Accounting Specialist is responsible for the accurate accounting, administration, and oversight of all Five Star Bank and Courier Capital incentive and commission programs. This role ensures the integrity of incentive plans through ongoing review, calculation of payments, preparation of related accruals, and close collaboration with lines of business and Human Resources to ensure all programs comply with applicable policies and regulatory requirements. In addition, the Accounting Specialist manages payroll and benefits accounting activities, including support for self-insured medical and dental plans, health savings accounts, health, parking, and dependent care spending accounts, ensuring accurate financial reporting and compliance.
Essential Functions:

• Calculate incentive and commission payments in accordance with approved plan specifications and documented procedures. Partner closely with lines of business and the Human Resources Department to ensure the accuracy and integrity of data and reports used in determining incentive and commission payments, and to support the implementation of required plan changes. Research data discrepancies and validate calculation results.
• Monitor, review, and prepare required accrual entries as part of the monthly financial close process. Submit accurate and timely payment information to the Payroll Department in accordance with established deadlines.
• Monitor, review, and adjust accruals for self-insured health and dental plans on a quarterly basis, or more frequently as needed. Maintain clear documentation and supporting evidence to substantiate period-end liabilities related to these plans.
• Monitor payroll- and benefits-related general ledger and demand accounts to ensure appropriate funding levels. Prepare and process benefits claims reimbursements for both employer- and employee-funded plans, ensuring accurate expense recognition and timely reimbursement.
• Partner with Human Resources to record accruals for payroll-related activities in the appropriate accounting periods, including but not limited to signing bonuses, disability payments, health savings account contributions, incentive bonuses, and restricted stock award vesting.
• Track and report personal income-related incentive benefits, including company vehicles and country club dues, in accordance with reporting requirements.
• Prepare and maintain reconciliations for various balance sheet accounts, ensuring reconciling items are appropriate, supported, and resolved within documented clearing timeframes. Maintain reconciliation documentation and procedures within the account reconciliation software.
• Assist with the investigation, analysis, and resolution of accounting matters arising from inquiries, new product implementations, and non-routine or complex transactions.
• Administer all corporate card programs for the organization, including card issuance, monitoring, compliance oversight, and issue resolution.
• Maintain lease accounting records using approved third-party software. Perform monthly processes to record and reconcile lease-related general ledger entries, provide lease payment details to Accounts Payable for timely processing, and monitor new leases, renewals, expirations, and related accounting impacts.
• Record and reconcile non-bank subsidiary fee-based revenue and incentive compensation expense in an accurate and timely manner. Identify and recommend enhancements to general ledger structures or processes to ensure a strong control environment and compliance with U.S. GAAP.
• Record transactions and reconcile limited partnership activity, including contributions, distributions, and returns of capital, and assist with the preparation of quarterly regulatory reporting for limited partnerships (FR Y-12).
• Perform additional duties as assigned, including serving as backup support for the Senior Accounting Specialist.
• Demonstrate the standards and principles of the Five Star Bank experience in every interaction with internal and external customers, associates, and stakeholders. Incorporate the high-performance behaviors of teamwork, leading by example, and service in every facet of work.

Job Related Qualifications:
Required:

• Education: Bachelor's Degree in Accounting, Finance, Business, or related field

-OR-
Required:

• Education: Associate's Degree in Accounting, Finance, Business or related field
• Prior Experience: 3+ years of Accounting or related banking experience

Preferred:

• Education: Bachelor's Degree in Accounting
• Prior Experience: 1+ years of Accounting experience

Competencies:

• Proficiency in Microsoft Office applications, particularly Excel, with the ability to quickly learn and effectively use new and existing banking and accounting software systems.
• Strong organizational skills with the ability to manage multiple priorities, meet established deadlines, and maintain a high level of attention to detail to ensure accuracy.
• Demonstrated analytical skills with the ability to interpret data, present information in a clear and meaningful manner, and provide well-supported recommendations.
• Ability to take initiative in problem-solving, exercise sound judgment, and develop practical, effective solutions.
• Excellent verbal and written communication skills, with the ability to communicate effectively with employees and management at all levels of the organization.
• Strong knowledge and understanding of accounting principles and standards, including GAAP.

Physical Requirements:

• Able to regularly sit for prolonged periods of time.
• Able to regularly stand for prolonged periods of time.
• Able to travel:
  • occasionally
• Extensive computer usage is required.
• Ability to work:
• Evenings
  • Occasionally
• Weekends
  • Occasionally

Benefits:

• Medical, Dental, and Vision Insurance
• Health Savings Account
• Flexible Spending Account(s)
• Company Paid Life Insurance, Long-Term Disability, and Short-Term Disability
• Voluntary Offerings: Life, Critical Illness/Specified Disease, Accident, Hospital Indemnity, Legal Insurance & Personal Accident
• Tuition Reimbursement
• Employee Referral Program
• Wellness Reimbursement Program
• Star Volunteer Program
• Employee Banking and Financial Perks
• Flexible Hybrid Work Schedule
• Paid Time Off (PTO)
• Company Paid Holidays

This job description is not exhaustive. The Accounting Specialist may be required to perform other duties as assigned.