Job Description
Navient, a leading provider of financial services and business processing solutions, is seeking a detail-driven professional with a strong foundation in accounting to join our dynamic team! Our ideal candidate will possess a robust work ethic, discretion, and integrity, and will thrive in a fast paced environment. Some of what this role will be involved in includes: reconciliations of multi-million dollar payroll, cash, tax, and benefits related accounts, and non- qualified plan distributions and reporting, preparation of payroll postings in accordance with GAAP and other corporate reporting requirements, and general ledger account reconciliations, including corporate owned life insurance (COLI), bonuses, PTO and other accruals.
Responsibilities include:
Account Reconciliation and Reporting
- Reconcile, post and report payroll activity for approximately 2000 employees with $400M+ annual payroll.
- Notify management of possible discrepancies, variances, or reconciling differences.
- Reconcile several hundred balance sheet accounts across Navient and subsidiaries, including taxes, stock, COLI, bonuses, non-qualified plan, and multi-million-dollar payroll cash accounts.
- Report any variances and resolve in accordance with corporate and accounting policies, procedures, regulations and state escheatment requirements.
- Review and maintain internal controls that will ensure safeguarding of company assets and financial reporting that is prepared in compliance with corporate policies, directives and GAAP.
- Track daily banking activity and payroll adjustments made or needed.
Prepare and post biweekly, supplemental and adjustment payrolls
- Responsible for the posting of all Navient and subsidiary payrolls (10 separate payroll companies).
- Ensure the proper allocations and accruals of payroll-related month-end expenses.
- Document payroll posting procedures, maintaining compliance with GAAP and internal control processes established, subject to annual audit and ICE/SOX reviews.
- Maintain correct payroll/financial system mappings from payroll vendor through subledger to general ledger and monitor for GAAP compliance, update individual subsidiary requirements to meet the needs of specific financial reporting objectives.
- Re-classify expenses as needed and approved.
- Prepare tax and other payroll-related wires as needed.
Qualified 401(k) and nonqualified deferred compensation plans and ESPP
- Reconcile and confirm the accuracy of payroll data submitted to the vendor for the 401(k) plan participants and review employer contributions.
- Notify HR to validate data integrity as needed to post contribution and loan transactions.
- Reconcile several general ledger accounts relating to 401(k) activity, prepare analysis and reporting as needed by management or departments.
- Prepare audit schedules and analysis, assist with external audit and preparation of plan financials.
- Monitor compensation, review and reconcile deductions, and provide data to the nonqualified 401(k) plan vendor.
- Monitor deferred compensation plan distributions; prepare letters of direction and payment requests of stock or cash (Tax form 1099 for Board; W-2 for employees/former employee); monitor assets available in the rabbi trust and keep management informed.
- Confirm the total contributions transmitted for ESPP agree with the payroll deductions.
- Provide payroll with biweekly percentage changes and plan withdrawals for processing.
- Complete the annual ESPP exercise.
- Participate with recommendations and testing of system changes or upgrades as needed.
Analysis/Reporting and Customer Service
- Provide management and other departments or subsidiaries with Ad hoc reports/analysis as needed. Assist management with intercompany reconciliations.
- Process assigned monthly journal entries and reconciling/other entries as needed.
- Validate data is complying with business and GAAP requirements in coordination with other departments.
- Provide other departments/subsidiaries with requested payroll analysis/headcount/FTE reporting.
- Provide excellent customer service to employees, other departments and external contacts.
- Prepare details for accurate posting of tax wires to the general ledger.
- Complete testing and documentation required for ICE/SOX and other internal controls.
- Review and approve accuracy of department submissions for CFO sign-off with SEC reporting.
Projects
- Complete ad hoc analyses as required, record appropriate journal entries, prepare reporting for management and others, provide assistance with audit questions.
- Assist financial management team with new initiatives, including system upgrades, changes, or the integration of additional subsidiaries or structural reporting changes (e.g. cost centers) into payroll and the general ledger.
- Complete or assist with assigned projects as needed including extra year-end analysis and review..
- Assist with each year-end, monitoring employee and employer reporting.
- Maintain internal control and procedural documentation.
- Recommend and implement efficiencies as appropriate.
- Cross-train with other team staff and provide support when needed
MINIMUM REQUIREMENTS
- Bachelor’s Degree - Accounting or Business with Accounting concentration. A dditional equivalent experience above the required minimum may substitute.
- 5 years of experience in accounting.
- Excellent analytical and deductive reasoning skills.
- Advanced excel skills.
- A dditional equivalent education above the required minimum may substitute for experience.
PREFERRED QUALIFICATIONS
- CPA certification.
- Experience with large corporate accounting and payroll systems.
- Understanding of accounting for benefit plans, especially 401(k) and non-qualified plans.
- Experience with internal and external audits.
- Experience with large company systems (Oracle, ADP, Workday).
All offers of employment are contingent on standard background checks. Navient and certain of its affiliated companies are federal, state and/or local government contractors. Should this position support a Federal Government contract, now or in the future, the successful candidate will be subject to a background check conducted by the U.S. Government to determine eligibility and suitability for federal contract employment for public trust or sensitive positions. Positions that support state and/or local contracts also may require additional background checks to determine eligibility and suitability.
EOE Race/Ethnicity/Sex/Disability/Protected Vet/Sexual Orientation/Gender Identity. Navient Corporation and its subsidiaries are not sponsored by or agencies of the United States of America.
Navient is a drug free workplace.
Job Tags
Contract work, For contractors, Local area,