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Accounting Manager, Banking



Accounting & Finance
United States
Posted on Thursday, May 11, 2023

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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 fintech company 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 searching for an Accounting Manager with financial services experience to support the Company’s accounting functions. The right person will thrive with the eagerness to learn, using an innovative approach to solving problems, and willingness to contribute to improving our end-to-end accounting processes.

The Bank Accounting team at SoFi, is part of the Controllership organization and is responsible for overseeing the accounting, financial, and regulatory reporting related to SoFi Bank and broker dealer products for the Company. The team leads the month end close process for banking and broker dealer products and partners closely with finance, compliance, treasury, operations, engineering, and other teams across the enterprise to monitor product and business performance. The team prepares external financial reports for public filings and regulators in compliance with GAAP and regulatory requirements. This role will report to the Bank Controller and will work with a mix of team members and key business partners across the enterprise. This role will also assist with carrying out Controllership’s strategy related to continued process improvement, scalability, and automation.

SoFi’s fast pace of growth provides career development (e.g., work directly with senior and executive management) and learning opportunities (e.g., automation, process improvements, and breadth of products/transactions) considering the role's enterprise-wide exposure.

What you’ll do:

● Lead team responsible for the accounting and reporting for SoFi Bank and SoFi Securities (our broker dealer), including all SoFi Money products across SoFi

● Lead team responsible for preparing internal & external financial statements, variance analysis, and regulatory filings (e.g., FOCUS reports)

● Ability to manage complex financial, reporting and regulatory matters or processes

● Maintain thorough and detailed understanding of accounting and regulatory reporting requirements and ensure that these are reflected in policies and procedures, documentation and regulatory reporting filings

● Responsible for leading, mentoring and developing the accounting team and ensuring appropriate allocation of responsibilities

● Subject matter expert in accounting theories and concepts pertaining to financial institutions, including research and documentation of technical accounting concepts

Lead initiatives to improve processes, controls and documentation in accordance with SOX and AICPA standards

● Support system integration projects including workflow automation and data transformation efforts

● Build effective relationships across other teams including treasury, finance, legal, compliance, and Bank leadership

● Review detailed account reconciliations, journal entries and supporting documentation

● Analyze accounts, subsidiary ledgers, and other accounting documents for accuracy and completeness

● Support employees in the preparation of complete and easy to follow workpapers explaining accounting topics, procedures, and conclusions

● Identify areas of improvement within the department for efficiency or risk control enhancements

● Manage projects and ad-hoc requests for analyses to support other business functions in management decision making

● Support internal and external auditors, as well as bank and broker dealer regulators (OCC, Federal Reserve, and FINRA) in the periodic review of the Company financial records

What you’ll need:

● 8+ years related experience, either Big 4 accounting or a mix of Big 4 and industry experience

● Bachelor’s degree or equivalent experience in a related field

● Experience working with banking products and regulatory/financial reporting at financial services institutions; public company experience preferred

● Experience with multiple subsidiaries and consolidation processes, highly preferred

● Experience working in ERP (preferably SAP, Oracle, or NetSuite)

● Must demonstrate attention to detail, analytical abilities, and consistent follow-through, including project management skills with the ability to proactively resolve problems while consistently meeting deadlines

● Ability to partner with cross-functional teams, including product engineering, legal, enterprise risk management, compliance, treasury, and finance

● Excellent organizational, analytical, problem solving, interpersonal and communication skills

● Strong knowledge of US GAAP

● Due to the nature of this position, as a part of our background check process, candidates must be able to pass a non-registered fingerprint background check to qualify as a fingerprinted person under FINRA

Nice to have:

● Public company experience

● CPA designation

● Strong knowledge of technical accounting and public company best practices

● Experience with tableau, SQL, or Alteryx

Compensation and Benefits
The base pay range for this role is listed below. Final base pay offer will be determined based on individual factors such as the candidate’s experience, skills, and location.
To view all of our comprehensive and competitive benefits, visit our Benefits at SoFi page!
SoFi provides equal employment opportunities (EEO) to all employees and applicants for employment without regard to race, color, religion (including religious dress and grooming practices), sex (including pregnancy, childbirth and related medical conditions, breastfeeding, and conditions related to breastfeeding), gender, gender identity, gender expression, national origin, ancestry, age (40 or over), physical or medical disability, medical condition, marital status, registered domestic partner status, sexual orientation, genetic information, military and/or veteran status, or any other basis prohibited by applicable state or federal law.
Pursuant to the San Francisco Fair Chance Ordinance, we will consider for employment qualified applicants with arrest and conviction records.
New York applicants: Notice of Employee Rights
Due to insurance coverage issues, we are unable to accommodate remote work from Hawaii or Alaska at this time.
Internal Employees
If you are a current employee, do not apply here - please navigate to our Internal Job Board in Greenhouse to apply to our open roles.