Staff Accountant II

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