M&A/New Product Accounting Manager
Company: Valley Bank
Posted on: January 13, 2022
The Mergers & Acquisitions New Product Accounting Manager
position will support the controller and financial reporting team
with a focus on merger and acquisition activity, as well as the
evaluation of appropriate accounting for new products. This role
will require a combination of technical accounting expertise and
ability to lead merger related setup and integration activities.
Responsibilities include, but are not limited to: Evaluate purchase
agreements/merger terms and the requirements of ASC 805: Business
Combinations and other related GAAP accounting standards to
determine the appropriate accounting treatment for acquired
Assess new contracts with customers for appropriate revenue
recognition under ASC 606.
Assist business areas in evaluating new fee arrangements, new lines
of business, and setting up procedures for calculating, booking and
reconciling the accounting impact of these new products.
Calculate any purchase accounting adjustments needed and establish
opening balance sheets for acquired entities.
Reconcile opening books and records and maintain adequate SOX
Develop fair value estimates for a variety of financial institution
related assets and liabilities, including goodwill and intangibles,
independently and with the assistance of specialists. Evaluate
goodwill allocation methodologies across legal entities.
Review and evaluate purchase agreements for appropriate handling of
accounting for equity.
Assess CECL accounting needs associated with acquired financial
instruments in conjunction with the Credit Risk team.
Review of contracts to ensure revenue recognition requirements are
met, understanding of contracts with customers is understood and
properly documented to industry and SOX control standards.
Assist with quarterly external reporting which may include
preparation of pro forma financials, schedules for SEC filings and
10-Q/K and related disclosures.
Lead chart of accounts evaluations and mappings.
Assist with the establishment of new GL accounts, cost centers,
profit centers and bank accounts in SAP/Miser as needed for new
entities or new lines of business.
Manage the coordination of key accounting related issues and
communications with individuals from the finance, accounting and
other bank departments.
Coordinate with Credit Risk, Finance, Technology and other groups
within the bank to assist in acquisition related -accounting
adjustments and merger related operational activity.
Develop whitepapers as needed to document accounting conclusions
related to new lines of business or treatment of acquired assets
Supervise and provide leadership to other Valley Bank employees as
to integration of new entities into Valley Bank technology and
month end reporting and controls processes.
Oversee the implementation, design, and testing of new processes
and internal controls related to newly acquired entities.
Share and educate acquired entity personnel on certain controls
processes and Bank policies as applicable.
Assist with the period end financial reporting process as needed to
supplement the accounting department.
Act as a point of contact for external auditors and regulators with
regards to merger and acquisition activity.
Assess certain ongoing operational impacts associated with systems
integration and develop plans and provide support in the transition
Keywords: Valley Bank, Wayne , M&A/New Product Accounting Manager, Executive , Wayne, New Jersey
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