JOB TITLE: EXECUTIVE ACCOUNTING SPECIALIST

JOB CODE: 03070

SERIES NATURE OF WORK:

The Executive Accounting job series describes accounting work performed in the Governor’s Office of the Budget, Office of Comptroller Operations, to support all commonwealth agencies.

DEFINITION:

This is enterprise-level professional accounting work to provide a cost effective and uniform system of accounting and financial controls for government funds.

An employee in this job performs professional accounting work by examining, reconciling, analyzing, interpreting, recording, and reporting financial transactions to ensure consistency and compliance at the enterprise level. Work involves the application of various accounting methods such as cash, modified accrual, accrual, asset accounting, financial accounting, cost accounting, project accounting, insurance accounting, or investment accounting, and also applies generally accepted accounting principles, governmental accounting, and fund accounting concepts to support the preparation of the Comprehensive Annual Financial Report (CAFR). An employee in this job applies an understanding of the interrelationships among the Governor’s Budget Office, other state agencies, Treasury, the Auditor General, the federal government, vendors, recipients, and sub-recipients. Work includes responsibility for large and complicated fund types that require intermediate accounting skills to monitor funds, process transactions, reconcile and correct funds, and prepare reports. Supervision is received from a professional manager who provides guidance on new or unusual matters with intermediate work being performed independently under general supervision.

EXAMPLES OF WORK: (NOTE: The examples of work are representative of the work, but every position classified to this job may not perform all examples of work listed. Conversely, this is not an all-inclusive list of work examples.):

• Analyzes difficult financial transactions and prepares financial statements and reports for state or federal funds in compliance with accounting principles.

• Analyzes and projects financial data within established policies and procedures.

• Maintains accounting records including general and subsidiary ledgers.

• Reports errors detected in difficult financial records and recommends potential resolutions.

• Maintains expenditure and budgetary control accounts; uses month-end and year-end trial balances to prepare financial reports.

• Monitors fund types that are large or complicated, have a high transaction volume, or cross business areas.

• Processes transaction adjustments; reconciles, corrects, and prepares reports for small and large fund types; and ensures correct application of accounting principles.

• Reviews balance sheets for large and complex fund types and prepares journal entries to adjust balance sheets.

• Prepares CAFR templates for large and complex fund types, and prepares, processes, and documents journal entries.

• Leads small teams or work groups created for the purpose of analyzing operations.

• Uses a variety of software and systems to perform accounting duties.

• Prepares and records accounting entries and generates business reports using the commonwealth’s enterprise-wide accounting system or other automated systems.

• Maintains inventory controls to ensure accurate records of materials in stock, in process, and finished products to determine cost and wastage.

• Maintains and analyzes records of raw materials, labor, and overhead costs to be allocated among different industries or cost centers.

• Performs difficult calculations involving financial data for accounting analyses, reconciliations, and reporting.

• Analyzes trial balances and prepares difficult reconciliations, journal entries, and accounting transactions and corrections in accounting systems.

• Analyzes, prepares, and adjusts fund blocks.

• Ensures and monitors agency compliance with established standards.

• Processes and reviews Treasury redlines.

• Processes interagency billings and loan transactions.

• Recommends modifications to the processing, recording, and classification of transactions and account balances at the enterprise level.

• Designs, generates, and reconciles accounting reports, such as individual fund balance sheets, operating statements, cash flow reports, aging reports, inventory usage, loan activity, fixed asset depreciation, or grant activity for assigned funds, programs, enterprises, operations, grants, sub-grants, or agencies.

• Applies intermediate accounting theory and practice to perform difficult analyses of fiscal data, such as budget versus revenues, expenditures, allocation of direct and indirect costs, accounts receivable agings, fixed asset depreciation schedules, loan amortization schedules, transfers, accounts payable, and inventories.

• Monitors changes to prior year encumbrances and prior year balances to detect agency and user input errors and initiates corrective action.

• Prepares the appropriate Schedule of Expenditures of Federal Awards (SEFA) and responds to auditors requesting information for the Single Audit of the Commonwealth.

• Performs the full range of supervisory duties.

• An employee in this job may participate in the performance of subordinates’ work consistent with operational or organizational requirements.

• Performs related work as required.

ENTRY LEVEL KNOWLEDGES, SKILLS, AND ABILITIES:

• Knowledge of accounting principles and procedures.

• Knowledge of computerized accounting and auditing processes.

• Knowledge of computerized accounting systems.

• Knowledge of cost accounting principles.

• Ability to analyze written information and numerical data.

• Ability to locate, compile, and interpret information, data, or facts from several different sources or systems to prepare accurate financial reports.

• Ability to analyze and interpret accounting and cost accounting records.

• Ability to apply accounting principles to the solution of a variety of accounting or fiscal problems.

• Ability to establish and maintain effective working relationships.

• Ability to communicate effectively orally.

• Ability to communicate effectively in writing.

MINIMUM EXPERIENCE AND TRAINING: (NOTE: Based on the Entry Level Knowledges, Skills, and Abilities):

• One year as an Executive Financial Associate;

or

• One year of professional accounting experience and a bachelor’s degree in accounting;

or

• An equivalent combination of experience and training that includes one year of professional accounting experience and completion of 24 college credits in accounting.