Manager, Merchant Accounting

The Merchant Accounting Manager directs the daily and monthly merchant accounting activities of Merrick Bank Corporation (the “Bank”) by leading and managing a staff of merchant accountants to ensure that the accounting for the Bank’s Merchant Business line is completed accurately, timely and efficiently and is in compliance with the Bank’s policies and procedures. This position works closely with the VP of Merchant Accounting to implement new processes or products and make improvements and add efficiency to the merchant settlement process. The Merchant Accounting Manager provides accounting support to the Bank’s clients and ensures monthly client residual statements are prepared timely and accurately. The Manager of Merchant Accounting is responsible to ensure that all daily and monthly merchant accounting functions for assigned processing platforms are well controlled and accurate and that procedures are completed, maintained and followed.

 

Essential Functions:

• Manages the daily and monthly merchant accounting function for multiple processing platforms.
• Manages a staff of merchant accountants to ensure that the Bank’s accounting for multiple merchant processing platforms is completed timely and efficiently and complies with the Bank’s established policies and procedures.
• Oversees the preparation of client monthly residual statements ensuring statements are accurate and timely and that clients are paid in accordance with contractual terms.
• Oversees the calculation, reporting and recording of various merchant and client contractual reserves.
• Audits client contracts and ensures servicing fees are calculated appropriately and in compliance with contractual terms.
• Works with the Bank’s front-end & back-end processors to ensure that account adjustments, reports, and funding are made both timely and accurately and researches items that do not have appropriate offset and determine how to clear these suspense items in a timely manner. 
• Installs, modifies, documents, and coordinates implementation of merchant settlement accounting systems and merchant settlement control procedures.
• Assists with recommendations for improving and adding efficiencies to the daily and monthly merchant settlement operations.
• Maintains appropriate accounting procedures.
• Conducts quarterly and annual performance appraisals.
• Completes special projects as assigned by the VP of Merchant Accounting.

Compliance with Laws & Regulations: 

• Responsible for complying with all of the Bank’s internal control policies and procedures.
• Responsible for understanding and complying with all laws and regulations to which the Bank is subject.
• Responsible for communicating problems in operations, noncompliance with the code of conduct, noncompliance with laws and regulations, policy violations, or illegal acts. 

Education and Experience:

• Associates Degree in finance, accounting or any business related field is required or equivalent four (4) or more years of accounting or financial industry experience accepted in lieu of education requirement.
• Four (4) years of progressively responsible accounting experience working in an accounting/finance setting required
• Merchant acquiring experience preferred.

Summary of Qualifications:

• Experience with, and demonstrated skill at, the following computer applications: Word Processing, Spreadsheet (Excel preferred), Accounting software (preferably Oracle Cloud Financials), Access and E-mail
• Ability to solve practical problems and deal with a variety of concrete variables in situations where only limited standardization exists. Ability to interpret a variety of instructions furnished in written, oral, diagram, or schedule form.
• Ability to identify and solve practical problems with no supervision.
• Responsible, flexible individual with strong mathematical and analytical skills.
• Communicates effectively both orally and in writing; presents ideas in a clear, concise, understandable and organized manner. 
• Develop and maintain a strong understanding of the banks merchant settlement functions and procedures.
• In depth knowledge of the merchant settlement process including residual statements, clearing suspense items, chargebacks and cash/settlement balancing.
• Ability to make suggestions and changes based on experience to improve the daily merchant settlement process and suspense reconciliation process.

• Competitive Pay 
• Benefits Package -Medical, Dental and Vision (plus much more) 
• 401(k) Plan with Company Match 
• Short & Long Term Disability 
• Group Life and AD&D Insurance
• Paid Vacation, Holidays, and Personal Days 
• Employee Events, including Employee Appreciation Day, Holiday Party, etc. 
• Tuition Reimbursement Program