Financial Reporting Accounting Specialist

Position Title: Financial Reporting Accounting Specialist

Location: Corporate Office within the Five Star Bank Footprint

Reports To: Assistant Controller

Department: Accounting

FLSA Status: Exempt

Purpose: The Financial Reporting Accounting Specialist position is responsible for the preparation of financial schedules and disclosures that support the Company's external financial reporting requirements. This position works closely with the Assistant Controller, supporting the Company's compliance with SEC rules, generally accepted accounting principles (GAAP), and financial services regulatory requirements.

Supervisory Responsibilities:

Degree of Supervision Received: Moderate

• Supervision Received (title): Assistant Controller

Degree of Supervision Given: None

• Supervision Given to (Titles): N/A

Essential Functions:

1. Performs assigned accounting and finance duties that involve recording, processing, summarizing, and reporting business transactions and results on behalf of the Company. Focus of assigned work involves Loan accounting and reporting, derivative accounting, and allowance for credit losses.
2. Prepares financial regulatory reports for all entities within the Company (Call Reports, FRY-8, FR2900, FR2644, FRY-6, FDIC Assessments, IRS back-up withholding, NY sales tax, etc).
3. Prepares responses to and works with the Company's primary regulators (Federal Reserve Bank of NY, FDIC, and NY State Department of Financial Services) on an as needed basis.
4. Conducts monitoring, research and tracking of financial regulatory reporting changes. Evaluates applicability of changes to the Company, making recommendations to ensure on-going consistent compliance with requirements.
5. Prepares reconciliations, work papers, schedules, support, and financial statements on a monthly, quarterly and annual basis.
6. Assists with the allowance for credit losses process and ensures accounting and reporting of the allowance is accurate and complete.
7. Prepares accounting entries associated with the Company's derivative program, based on third party accounting reports. Required to stay abreast of accounting standard updates related to derivative accounting.
8. Prepares accounting entries associated with loans held for sale and mortgage servicing rights (MSR's).
9. Prepares balancing entries for the Company's real estate investment trust (REIT) and maintains an accurate record of loans purchased.
10. Maintains accounting records in all assigned areas in an organized manner to facilitate reviews and audits of the Company's financial records.
11. Plans and prioritizes assigned duties to meet timeframes established for month-end, quarter-end and annual closing of the Company's books and records.
12. Prepares and maintains large amounts of data using appropriate technology, ensuring the accuracy and completeness of information, calculations and outputs.
13. Maintains the system of internal controls established via the Accounting policies of the Company.
14. Collaborates with other departments and personnel as needed in completing accounting research, reporting disclosures and accounting tasks in conformance with the policies of the Company.
15. Identifies and recommends changes to promote efficiencies in the completion of assigned functions. Applies new accounting standards, laws, regulations or requirements as needed. Ensures written procedures reflect current processes.
16. 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.
17. This job description is not exhaustive. The Financial Reporting Accounting Specialist I may be required to perform other duties as assigned.

Job Related Qualifications - Education and Prior Experience:

Required:

• Education: Bachelor's Degree in Accounting, Finance, Audit, Tax, or business-related field.
• Prior Experience: 2+ years of experience in public accounting, auditing, accounting in a banking environment, or financial reporting in a banking environment
• Licenses or Accreditation: Certified Public Accountant (CPA) preferred

Preferred:

• Education: Bachelor's Degree in Accounting
• Prior Experience: 3+ years of experience in public accounting.

Competencies:

1. Possess a high level of attention to detail to ensure accuracy.
2. Excellent organizational skills with the ability to manage people, multiple priorities and meet established deadlines.
3. Analytical ability to interpret data and present it in a meaningful and easily understood form while providing recommendations.
4. Ability to take initiative in problem solving and uses sound judgment to produce practical decisions and solutions.
5. Strong verbal and written communication skills with the ability to interact with all levels of staff and management.
6. Strong knowledge and understanding of Accounting concepts/standards (GAAP).
7. Proficient in Microsoft Office (especially Excel) with the ability to learn and utilize new existing banking and accounting software applications.

Physical Requirements:

1. Able to regularly sit for prolonged periods of time.
2. Able to travel occasionally
3. Extensive computer usage is required.

Five Star Bank and affiliate companies are committed to Equal Employment Opportunity and Affirmative Action. We recruit, hire, train and promote persons in all job titles and ensure that all other personnel actions are administered without regard to race, religion, color, national origin, citizenship, sex, sexual orientation, gender identity, age, veteran status, disability, genetic information, or any other protected characteristic. Five Star Bank and affiliate companies are committed to providing reasonable accommodations to employees and applicants with disabilities to the full extent required by the Americans with Disabilities Act (ADA). If you feel you need a reasonable accommodation pursuant to the ADA, you are encouraged to contact us at (585) 786-4344, or (585) 786-1417 or 585-498-7565.

Note: At a later stage in the application process, applicants may be required to provide information about their criminal conviction history, if any, and to authorize the procurement of a consumer report that will contain, among other things, information about criminal conviction history. Except as required by applicable law, past criminal convictions will not automatically disqualify an applicant from employment, and Five Star Bank will only consider such history in accordance with applicable law. Please be advised, however, that federal law prohibits Five Star Bank from employing "any person who has been convicted of any criminal offense involving dishonesty or a breach of trust or money laundering, or has agreed to enter into a pretrial diversion or similar program in connection with a prosecution for such offense" unless the FDIC has provided prior written consent.