Fresh / Experienced Accountant -(Multinational) Large IT corporate

Job Description

Bank Accountant Job Description

Bank accountants classify and record financial information. In this respect, they perform the same type of duties as other accountants. The difference is that they do not handle multiple clients, just the bank that employs them. The job is generally a full-time one spent in an office environment. Overtime may be required during periods when reports are being compiled, such as at the end of a quarter.

Bank accountants may hold titles such as accountant I, accountant II, staff accountant, or senior accountant. Moving up the ladder typically requires many years of experience and an advanced degree. The field of accounting as a whole is expected to see a 10 percent rise in employment between 2016 and 2026.

Bank Accountant Duties and Responsibilities

As they go about helping their employer keep track of activities, bank accountants must perform a variety of tasks. Our analysis of job postings shows these responsibilities to be common for bank accountants:

Maintaining Records

Every dollar going in and out of the bank (physically or electronically) needs to be accounted for. Bank accountants oversee daily transactions in order to be certain that books balance at the end of the day, meaning there is a credit for every debit and vice versa. They also keep tabs on cash on hand to ensure the bank has a sufficient amount to handle daily customer requests.

Resolving Errors

Whether a bank teller gave out too much money or a member of the accounting team typed a number incorrectly, bank accountants play detective to figure out what went wrong. They then must go through procedures to rectify errors, including adjusting accounting entries.

Noticing Problems

Bank Accountants are often the ones who spot money laundering and other illegal actions. As they monitor records, suspicious transactions or unusual account activity may raise red flags, and bank accountants report their suspicions to higher authorities.

Following Procedures

A bank’s classifications, accounting practices, and reporting need to adhere to proper standards. Bank accountants ensure compliance with government regulations and may provide information to external auditors when they perform reviews. Bank accountants also may be responsible for tax preparation.

Compiling Reports

At different times of the year, bank accountants present formal documentation of the institution’s activities over a certain time period. This information helps executives with decisions by giving them a clear picture of where the bank currently stands. Other parties, such as shareholders or the public, may also be interested in these results.