Accounting Associate I

at Live Oak Bank • Wilmington, NC

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About Us 

Live Oak is more than a bank. Live Oak helps people realize their full potential so they can create meaningful impact at work, home or in their communities. As an innovation hub, we fully embrace a bold approach to solving problems and surpassing goals. Daily life at Live Oak centers around a culture of taking care of each other, which has made us one of the most desirable places to work. We’ve topped the list of American Banker’s “Best Banks to Work For” because of our unparalleled dedication to our people. Our commitment to our customers and our culture is intertwined, so we seek those who embody and embrace what it takes to empower the American dream. Learn more at liveoakbank.com. 

How This Role impacts Live Oak and its People 

Being a Level 1 Accounting Associate is a great responsibility due to your processing corporate and subsidiary transactions, as well as employee expenses. Your duties play a major role in budgeting, financial reporting, and investments.  

What You’ll Do at Live Oak 

  • Interacts with vendors to receive proper documentation and management for proper authorization prior to payment 
  • Maintain invoices and records of payment as required for record retention, tax, and legal purposes 
  • Responsible for correctly identifying and recording intercompany transactions 

How You’ll Do It             

  • Processes Loan Accounts Payables and Receivables for the Bank and affiliates.  Works with Loan Operations to reconcile borrower-related fees and expenses 
  • Interacts with vendors, as required, to ensure that a properly submitted invoice is received for a payment request and processes those requests through the Bank’s AP module according to policy 
  • Prior to payment, all invoices are properly approved by designated personnel, and all invoices are properly coded to the correct General Ledger account 
  • Ensures that payments are issued properly, accurately, and timely 
  • Interacts with affiliates of the Bank to insure proper payment of all invoices 
  • Makes general ledger entries as required 
  • Reviews employee expense reimbursements for accuracy according to policy and processes the reimbursements 
  • Clears stale-dated exceptions in the Bank’s checking accounts 

Required and Preferred Experience 

  • Required: Bachelor’s degree or equivalent experience 
  • Preferred: Bachelor’s degree in Accounting, Finance or Business 
  • Required: Proficiency in computer software packages 

Required to Thrive at Live Oak 

  • Dedication– You possess a deep commitment to Live Oak Bank’s mission and core values, exemplified through a strong work ethic, adaptability and pride in your work. 
  • Ownership You take initiative to deliver positive results by proactively and creatively solving problems, while maintaining a high degree of quality. 
  • Innovation You embrace fresh ideas and fearlessly contribute new solutions to emerging or existing problems.  
  • Teamwork – You foster collaboration, accountability and trust with others and understand that together, we do more. 
  • Respect You treat everyone with courtesy, politeness and kindness. 

 

“The above statements are intended to describe the general nature and level of work being performed by the incumbent assigned to this classification.  They are not intended to be construed as an exhaustive list of all responsibilities, duties and/or skills required of all personnel so classified.” 

 

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