Reconciliation Specialist

As a Reconciliation Specialist at NYC Department of Finance, your primary responsibilities include daily monitoring of a portfolio of accounts, conducting regular bank reconciliations, ensuring accurate recording of cash transactions in the Financial Management System (FMS), and participating in annual closing processes. You will also identify necessary adjustments and create reports for management, liaising with other city agencies, banks, and payment vendors.

To apply for the Reconciliation Specialist position at NYC Department of Finance, you need a baccalaureate degree from an accredited college or university, supplemented by 24 semester credits in accounting, including courses in advanced accounting and auditing. Alternatively, a valid New York State Certified Public Accountant license is acceptable. Experience in a similar accountant role will enhance your application.

The Reconciliation Specialist role is vital within the Treasury and Payment Services Division as it consolidates all the Department of Finance's reconciliation activities. This position ensures compliance and accuracy in financial operations, critical for the efficient collection of revenue and maintenance of financial integrity in the city.

Beneficial experience for the Reconciliation Specialist role at NYC Department of Finance includes several years working in accounting or auditing fields, particularly with bank reconciliations and familiarity with financial management systems. Successful candidates often have hands-on experience in monitoring financial transactions, identifying discrepancies, and preparing financial reports.

During the application process for the Reconciliation Specialist position at NYC Department of Finance, you will need to submit your resume along with your Employee Identification Number (EIN) and specify your permanent civil service title in your cover letter. The selection process might include interviews that assess your qualifications and suitability for the role along with your understanding of financial reconciliation practices.

When answering this question, be specific about your past roles and responsibilities in bank reconciliations. Highlight the tools and systems you used, the volume of accounts you managed, and any challenges you faced and overcame. This shows your proficiency in handling complex reconciliations.

Discuss your methods for verifying data accuracy, such as double-checking entries, using validation processes, or employing accounting software features. Provide examples of how these practices helped you catch errors early or prevent discrepancies.

Explain your systematic approach to identifying discrepancies during reconciliations. This could include conducting detailed audits, comparing transaction records across systems, and collaborating with other departments or banks to clarify any inconsistencies.

Provide a specific example of a project or reconciliation you handled under a tight deadline. Focus on how you prioritized tasks, managed your time, and ensured quality despite time constraints, showcasing your ability to work under pressure.

List any accounting or financial management software you're experienced with, especially any that align with the tools used in public finance or reconciliation tasks. Be prepared to explain how you've successfully utilized these tools in your previous roles.

Explain your process for addressing significant errors, including how you would investigate the root cause, communicate with relevant stakeholders, and implement corrective actions. Emphasize your commitment to accuracy and transparency in financial operations.

Discuss your understanding of key financial regulations that affect city finance operations. Provide examples of how you've ensured compliance in past roles and how you stay updated on changing regulations.

Highlight your communication skills and your approach to building relationships with other departments and vendors. Provide examples of effective collaboration or conflict resolution that have allowed you to achieve reconciliation goals.

Discuss the features you consider essential in a financial management system, such as reporting capabilities, user access controls, audit trails, and the ability to automate reconciliations. Explain how these features contribute to the efficiency and accuracy of financial management.

Your answer should reflect your passion for numbers, problem-solving, and interest in how finance works. Share any personal experiences or motivations that led you to this career path, conveying authenticity and enthusiasm.