What are the responsibilities and job description for the Bank Reconciliation Specialist position at Rainbow Apparel Co?
Founded in 1935, Rainbow USA Inc. is a leading women’s and children’s specialty retailer headquartered in Brooklyn, NY, with over 800 locations across the United States and the Caribbean. We offer trend‑driven, affordably priced apparel, footwear, and accessories through our family of brands, including Rainbow, Rainbow Plus, Rainbow Kids, 5.7.9., Marianne, Dots, Joyce Leslie, and Kids Spot.
Position Overview
We are seeking a detail‑oriented Bank Reconciliation Specialist to join our Finance/Accounting team. This role is responsible for performing bank reconciliations, analyzing deposit activity, and supporting general ledger integrity across a large multi‑store environment. This is an excellent opportunity for an accounting professional looking to grow within a stable, fast‑paced retail organization.
Key Responsibilities
- Analyze and reconcile banking transactions for approximately 400–500 retail locations using T‑Recs/IDM
- Perform general ledger entries and reconciliations related to cash and banking activity
- Review and analyze new store sales reports
- Reconcile ACH and wire transactions within the Chase banking platform
- Analyze e‑commerce and security deposit general ledger accounts
- Reconcile Chase ACH/Discovery benefits accounts
- Assist with quarterly unemployment insurance filings
- Research and resolve banking discrepancies and account‑related issues
- Prepare banking documentation for required signatures
- Support special projects and perform other related duties as assigned
Required Skills & Abilities
- Strong verbal and written communication skills
- Proficiency in Microsoft Office, particularly Excel, and accounting systems (experience with T‑Recs/IDM preferred)
- Solid understanding of accounting principles and reconciliation processes
- Excellent analytical, organizational, and problem‑solving skills
- High degree of accuracy and attention to detail
- Ability to manage sensitive and confidential information
Education & Experience
- Bachelor’s degree in accounting, Finance, or Business Administration
- Minimum of 2 years of experience in accounting or finance
- Retail industry experience preferred
- Hands‑on experience with bank and general ledger reconciliations
- Advanced Excel skills strongly preferred
Benefits & Perks
- Annual compensation review program
- Paid vacation, sick leave, and holidays
- 401(k) retirement plan with generous company match
- Comprehensive medical, dental, vision, life, and disability insurance
- Health Savings Account (HSA) and Transit Accounts
- Merchandise discounts
- Health and financial wellness programs
- Recognition for holidays, birthdays, and service milestones
- On‑site fitness center and employee cafeteria
- Free, secured parking
Equal Opportunity Employer
Rainbow USA Inc. is an equal opportunity employer. All employment decisions are based on merit, qualifications, performance, and business needs. We do not discriminate on the basis of race, color, religion, age, marital status, national origin, ancestry, disability, medical condition, pregnancy, genetic information, gender, sexual orientation, gender identity or expression, veteran status, or any other status protected by applicable law.