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Who we are:
Shape a brighter financial future with us.
Together with our members, we’re changing the way people think about and interact with personal finance.
We’re a next-generation financial services company and national bank using innovative, mobile-first technology to help our millions of members reach their goals. The industry is going through an unprecedented transformation, and we’re at the forefront. We’re proud to come to work every day knowing that what we do has a direct impact on people’s lives, with our core values guiding us every step of the way. Join us to invest in yourself, your career, and the financial world.
The role:
SoFi is seeking a Reg W and Intercompany Accountant to join SoFi’s Controllership Team, reporting to the Intercompany Accounting Manager. In this role, the Reg W and Intercompany Accountant will support the Controllership mandate of having accurate consolidated and stand-alone financial results by ensuring intercompany activity is captured appropriately and eliminates correctly. The Reg W and Intercompany Accountant will perform monitoring and validation procedures to ensure SoFi Bank remains in compliance with Regulation W Section 23A and 23B. The Reg W and Intercompany Accountant will support regulatory reporting and board reporting needs as it pertains to intercompany activities and balances.
What you’ll do:
- Gain an in-depth understanding of the SoFi systems and how intercompany transactions flow and appropriately eliminate.
- Monitor variance accounts and address any balances created throughout the close process
- Reconcile Intercompany Receivable/ Payable accounts on a monthly basis to ensure activity is appropriately charging within legal entities
- Prepare, instruct, and track monthly settlement of Intercompany payables through collaboration with Bank Operations and Entity Controllers
- Compute and post interest on Intercompany Notes and Regulation W collateral in accordance with legal and contractual requirements
- Monitor Bank activities for any potential ‘covered transaction’ under Regulation W Section 23A
- Post manual journal entries for intercompany contracts that are compliant with Regulation W Section 23B.
- Execute Equity Pick Ups during monthly close and validate results
- Prepare 23A assessment and Vendor Attribution Reviews quarterly in compliance with Reg W
- Assist in the monthly, quarterly, and year-end close processes as well as assisting with audit requests
What you’ll need:
- Bachelor’s degree in Accounting, Finance, or Business or equivalent
- 2+ year of experience in accounting and close activities
- Applied working knowledge of U.S. Generally Accepted Accounting Principles and accounting procedures
- Strong organizational, analytical, mathematical, and project management skills
- A forward-thinking and hands-on approach
- A desire to learn
- Proactive and self-driven with the ability to think creatively within a flexible environment
- Strong knowledge of accounting theory and practice
- Computer skills, including Excel, Word, and general ledger and reconciliation systems
- Knowledge of balance sheets, income statements, and mathematical concepts such as fractions., percentages, and ratios
Nice to have:
- Experience with Workday Financials
- CPA certification is a plus
- Audit experience
- Prior work experience performing Regulation W compliance and intercompany accounting
Top Skills
What the Team is Saying
What We Do
For over a decade, SoFi has helped transform the Fintech industry by creating financial products and services that help people borrow, save, spend, invest, and protect their money better, so they can achieve financial independence and realize their ambitions. Whether it’s owning a home, saving for retirement, paying off their student loans, or helping our members invest - SoFi is there every step of the way. Want to learn more about how it works? Check it out here: https://www.sofi.com/how-it-works/
Our core values are at the center of how we help our millions of members get their money right. They are our guiding principles for how we think about serving our members, building our company, and most importantly, how we work together. At SoFi, it’s not just what we do - but how we do it.
SoFi is also proud to be the naming rights partner of SoFi Stadium, home of the Los Angeles Chargers and the Los Angeles Rams.
For more information, visit SoFi.com
Why Work With Us
Together with our members, we’re changing the way people think about and interact with personal finance. We’re a next-generation Fintech company using innovative, mobile-first technology to help our members reach their goals. The industry is going through an unprecedented transformation, and we’re at the forefront.
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