Loan Accountant

Company Description

Square Financial Services (SFS)

Block is one company built from many blocks, all united by the same purpose of economic empowerment. The blocks that form our foundational teams — People, Finance, Counsel, Hardware, Information Security, Platform Infrastructure Engineering, and more — provide support and guidance at the corporate level. They work across business groups and around the globe, spanning time zones and disciplines to develop inclusive People policies, forecast finances, give legal counsel, safeguard systems, nurture new initiatives, and more. Every challenge creates possibilities, and we need different perspectives to see them all. Bring yours to Block.

Square Financial Services, Inc. (the "Bank" or "SFS") was approved for an industrial bank charter by the Utah Department of Financial Services ("UDFI") and deposit insurance from the Federal Deposit Insurance Corporation ("FDIC") in March 2020. The Bank opened in March 2021 as a Utah corporation and has since been delivering on Block's mission of economic empowerment by helping small business owners and underserved communities across the United States. SFS is focused on providing lending service to small businesses on a nationwide basis. SFS also offers small business savings accounts and may also seek to raise FDIC insured deposits nationwide.

Job Description

The SFS Accounting team is looking to hire a Loan Accountant based remotely that will be an integral part of our growing team. This role is responsible for partnering closely with the product and systems teams to ensure that loan activity is appropriately captured and accounted for in our financial statements. The ideal candidate will be highly analytical and able to work in a collaborative and fast-paced environment. We are open to having this role be full-time remote but this role will support our team based in Mountain Time and will be expected to be available during the team's core hours. 

You will:

• Partner with engineering and product teams to build scalable revenue recognition and reconciliation processes in Oracle and/or other newly developed systems

• Review current loan revenue recognition processes/procedures, and implement process improvements to improve efficiency and timeliness of the close and reporting

• Prepare journal entries, reconciliations and supporting schedules related to SFS.

• Interface with Technical Accounting, Internal Audit and the Company’s independent public accounting firm on technical accounting matters

• Continuously improve business processes, systems, and enhance documentation and controls as part of our SOX compliance efforts

• Work with diverse and cross functional teams, domestically and internationally

• Partner with Block Inc.’s Accounting, Procurement, Finance & Strategy, Tax, Counsel and Treasury teams to ensure the Bank’s operational needs are met

• Support quarterly reviews and annual audits performed by external auditors

• Document product and process flows with various product engineering and financial teams 

• Complete special projects as needed

Qualifications

You have:

• Passion for the fintech industry. Strong interest in technology/knowledge of the industry

• Bachelor’s degree in accounting or finance, CPA a plus

• 5+ year of accounting experience

• Previous role(s) should include internal or external audit, GL accounting, and/or revenue accounting

• Experience in designing SOX controls for financial and operational processes desired

• Experience in creating new reconciliation procedures and new systems implementation desired

• Technical knowledge and practical knowledge of loan accounting

Additional Information

Block takes a market-based approach to pay, and pay may vary depending on your location. U.S locations are categorized into one of four zones based on a cost of labor index for that geographic area. The successful candidate’s starting pay will be determined based on job-related skills, experience, qualifications, work location, and market conditions. These ranges may be modified in the future.

Zone A: USD $83,900 - USD $125,900
Zone B: USD $78,100 - USD $117,100
Zone C: USD $71,400 - USD $107,000
Zone D: USD $63,000 - USD $94,400

To find a location’s zone designation, please refer to this resource. If a location of interest is not listed, please speak with a recruiter for additional information. 

Full-time employee benefits include the following:

• Healthcare coverage (Medical, Vision and Dental insurance)
• Health Savings Account and Flexible Spending Account