Accounting Supervisor - Employee Benefits

Overview

At Community Financial System, Inc. (CFSI), we are dedicated to providing our customers with friendly, personalized, high-quality financial services and products. Our retail division, Community Bank, N.A., operates more than 200 customer facilities across Upstate New York, Northeastern Pennsylvania, Vermont and Western Massachusetts. Beyond retail banking, we also offer wealth management, investment management, insurance and risk management, and benefit plan administration.

Just as our employees are committed to helping our customers manage their finances, we're committed to our employees. After all, they make it happen for our customers every day.

To ensure our people can enjoy long and successful careers here at CFSI, we offer competitive compensation, great benefits, and professional development and advancement opportunities. As an equal-opportunity workplace and affirmative-action employer, we celebrate and support a diverse workplace for the benefit of all: our employees, customers and communities.

Responsibilities

We are seeking a highly motivated and detail-oriented individual to join our Employee Benefits Accounting team. This refreshed role supervises the accounting of all employee benefit related activities. The role involves working with cross-functional teams, including legal, HR, external auditors and accounting managers to provide financial information for the organization. This role will need to have an understanding of the accounting associated with all payroll and employee benefit related activities including equity compensation and long-term incentive plans. Responsibilities include the application of accounting policies and procedures to ensure effective controls over benefit related activities; understanding monthly activity related to payroll and employee benefit related accounts; posting and reviewing journal entries, administration of equity program, preparing SEC disclosures, and reviewing reconciliations of employee benefit related accounts. This position is key to ensuring accurate accounting and compliance for all payroll and employee benefit-related activities. The ideal candidate will possess strong investigative skills, the ability to work independently, and the expertise to manage complex accounts while collaborating effectively with coworkers and managers.

Essential Duties:

• Coordinate, supervise and understand the accounting for benefit-related plans including the Company's pension and 401(k) plans, retiree medical plan, bonus programs, self-insured medical plans, various deferred compensation plans, CFSI Long-term Incentive Plan ("LTIP") activity, supplemental executive retirement plans, and miscellaneous payroll and benefits accruals.
• Reconcile CFSI LTIP activity to subsidiary records and perform the Earnings per Share calculation on a monthly basis.
• Responsible for supervising the accounting for biweekly and semi-monthly payrolls, including assisting in the investigation of reconciling items and working with the Company's human resource department to clear them in a timely manner.
• Responsible for establishing monthly payroll accrual schedule and supervising the accounting of month-end payroll accruals.
• Responsible for understanding the various benefits included in benefit allocation and which benefits apply to each subsidiary, including setting up new benefit allocations and supervising the accounting for monthly benefit allocations.
• Prepare various payroll analyses and investigate fluctuations in benefit related accounts.
• Perform/oversee accounting administration of the CBSI LTIP, including assisting Section 16 Officers and Directors with stock option exercises and ensuring reporting requirements are followed. Provide support for participants on general information regarding the value of equity instruments.
• Assist the Director of Employee Benefits Accounting and provide support as needed:
  
  • Prepare/review financial statements for the Company's pension and 401(k) plans, including researching and implementing changes in accounting guidance.
  • Prepare/review payroll and benefit related disclosures for the quarterly SEC and regulatory reporting process, including researching and implementing changes in accounting guidance.
  • Prepare/review annual disclosures for the annual Proxy Statement.
  • Prepare/review any other reports as needed or required by regulatory agencies.
  • Assist in the review and implementation of accounting pronouncements.
  
  
  
  
• Act as a liaison with external auditors, third party organizations, Human Resources and Directors as it relates to the Company's compensation and benefit plans.
• Understand accounting for the Company's bank owned life insurance ("BOLI") program in accordance with the Company's policies and procedures and assist in preparation/review of the annual BOLI risk assessment and management memo.
• In coordination with tax staff, understand and process tax related procedures related to employee benefit plans.
• Reconciliation/review of general ledger accounts pertaining to employee benefit plans.
• Coordinate and supervise the reporting of all stock option exercise and restricted stock vesting activity to Human Resource Department to facilitate proper tax reporting.
• Coordinate and supervise the reporting of company owned vehicles activity to Human Resource Department to facilitate proper tax reporting.
• Perform special projects and analyses as requested by management.

Qualifications

Education/Training: B.S. Degree in Accounting or Business Administration. CPA preferred.

Skills: Proficient knowledge of U.S. Generally Accepted Accounting Principles (GAAP) and SEC reporting requirements related to equity compensation; preferred knowledge of benefits accounting; excellent analytical and problem solving skills, strong computer skills, including knowledge of Word, Excel, and database management; effective communication and collaboration abilities, including written and verbal.

Experience: Minimum of three (3) years external public accounting experience or related positions in a publicly traded company preferred. Experience with employee benefits related accounting preferred. All applicants must be 18 years of age or older.

Other Job Information

Compensation: Commensurate with experience plus potential for annual merit increase. In addition to your competitive salary, you will be rewarded benefits including: 11 paid holidays, paid vacation, Medical, Vision & Dental insurance, 401K with generous match, Pension, Tuition Reimbursement, Banking discounts and the list goes on!

Physical Requirements:

The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. While performing the duties of this job, the employee may be required to stand, walk or sit. Use hands and fingers, handle or feel, reach with hands or arms, and speak and hear. The employee may occasionally be required to lift and or move up to 25 pounds. Specific vision abilities required by this job include close vision, and the ability to focus.

The Company is an Affirmative Action, Equal Opportunity Employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex (including pregnancy, sexual orientation and gender identity), national origin, citizenship status, age, disability, genetic information, veteran status, or any other characteristic protected by applicable federal, state or local law.

The Company will make reasonable accommodations for qualified individuals with a disability. If you have a physical or mental impairment and would like to request an accommodation with respect to the application process, please contact the Human Resources Department.