Sr. Loan AccountantApply Now
Navient (Nasdaq: NAVI) provides asset management and business processing solutions to education, healthcare and government clients at the federal, state, and local levels. We help our clients and millions of Americans achieve financial success through our services and support. Headquartered in Wilmington, Delaware, Navient employs team members in Western New York, Northeastern Pennsylvania, Indiana, Tennessee, Texas, Virginia, and other locations. Learn more at navient.com.
The Sr. Loan Accountant is responsible for accounting for Navient’s student loan assets, ensuring adherence to internal accounting controls and procedures, and working collaboratively with other departments. The incumbent will be responsible for running models to calculate the monthly Premium and Discount amortization with FFELP and Private Credit Portfolios as well as benefits allowance and late fee accrual calculation for eligible loans. Additional responsibilities include monthly/quarterly reporting and disclosure of the financial results, as well as accounting pronouncement research. The position requires proven accounting, analytical and technical skills (SQL. SAS and BI tools), excellent communication and effective time management in a deadline-oriented accounting department.
Essential Job Functions:
1. Monthly Accounting and Analysis
- Manage and perform the FFELP and Private Credit models to calculate amortization, benefits allowance and late fee accrual calculation.
- Gather and analyze the data inputs from various sources; perform the calculation and related controls; prepare the monthly reporting for the financial results.
- Prepare Journal entries and book the results into general ledger.
- Analyze the results of the monthly processing (including the controls and final results) to identify potential variances or issues. Ensure the data process under each model reconciles to general ledger.
- Maintain organized and well documented monthly binders for support of the calculation and understand the principles of the Accounting Codification Standards that are used for the calculation.
- Prepare queries and reports, on an as needed basis, for management, internal audit and external audit.
- Perform updates and changes to the FFELP, Private Credit premium, benefits and late fee Models.
- Ensure accounting practices and documentation procedures are performed in accordance with accounting and governance policies and procedures.
- Respond to requests from other departments and perform research.
2. Reporting and Disclosures
- Assist in the preparation of monthly and quarterly key documents for distribution to the internal management executives and external financial entities, including the SEC Form 10-Q and 10-K.
- Perform ad-hoc reports and analysis of data for Internal Management Reporting, on an as-needed basis
3. Accounting Research and Other Projects
- Research new accounting literature and pronouncements to assist in determining the impact to the student loan business. This responsibility would include reading, understanding, and summarizing any new guidance that impacts the department to assist in developing a plan for adoption.
- Provide support for both internal and external audits as well as semi-annual Self-Assessments.
- Complete other projects as assigned.
- Bachelor’s Degree – Accounting and Finance
- At least 3 years of experience in a fast-paced accounting department
- Excellent communication skills
- Expertise in Microsoft Office products, especially Excel and Access.
- Expertise in SQL/SAS
- Excellent analytical skills
- Attention to detail
- CPA or CPA candidate
- Modeling experience
- Hyperion Smart View
- Peoplesoft Business Object
All offers of employment are contingent on standard background checks. Navient and certain of its affiliated companies are federal, state and/or local government contractors. Should this position support a Federal Government contract, now or in the future, the successful candidate will be subject to a background check conducted by the U.S. Government to determine eligibility and suitability for federal contract employment for public trust or sensitive positions. Positions that support state and/or local contracts also may require additional background checks to determine eligibility and suitability.
EOE Race/Ethnicity/Sex/Disability/Protected Vet/Sexual Orientation/Gender Identity. Navient Corporation and its subsidiaries are not sponsored by or agencies of the United States of America.
Navient is a drug free workplace.