General Ledger Accountant

About TRS 

Since 1917, the Teachers’ Retirement System of the City of New York (TRS) has been securing better futures for NYC educators.  With a pension fund valued at approximately $120 billion, TRS serves over 215,000 members, providing them with retirement, disability, and death benefit services.   

TRS' Qualified Pension Plan (QPP) is a defined benefit plan that provides members with a monthly retirement allowance upon meeting certain eligibility requirements. TRS members can also enhance their benefits with a Tax-Deferred Annuity (TDA) Program, which offers multiple investment options and tax-deferred earnings.    

At TRS, we seek dedicated professionals who are passionate about their work and committed to excellence.  We pride ourselves on our member-centric culture, focused on delivering outstanding service and support to our members.  

Position Summary 

The General Accounting Unit is responsible for processing payments to members and managing distributions from the Tax Differed Annuity (TDA) Program, which includes handling Qualified Pension Plan (QPP) and TDA loans, excess withdrawals, and various TDA distributions, such as withdrawals and refunds related to Line-of-Duty Injury (LODI) contributions. The unit also manages funds for membership transfers, death benefits, and non-automated payments, while ensuring proper documentation through 1099 Forms for different payment types and monthly cash records. Additionally, it generates annual 1099 Forms for in-service members and oversees wire transfers between bank accounts.  

This role is essential to the Department’s financial operations, with responsibilities that include reconciling ledgers and bank statements, preparing weekly and monthly financial reports, and ensuring compliance with all applicable agency policies. 

We are seeking a motivated and detail-oriented accounting professional who thrives in a fast-paced environment and takes pride in delivering accurate, timely, and courteous support. The ideal candidate is a self-starter with strong multitasking abilities and a commitment to serving TRS members with professionalism and efficiency across a variety of general accounting functions. 

Responsibilities

• Review and reconcile sub-ledger, general ledger accounts and bank statements. Investigate discrepancies in coordination with Accounting units. 
• Maintain and prepare weekly Corpus expense ledger transactions, trial balances and month-end financial reports.   
• Ensure compliance by reviewing financial entries for adherence to agency policies, procedures, and applicable regulations. 
• Process payrolls by preparing the Corpus expense ledger, non-periodic payrolls, general journal entries, and payment vouchers. Verify and post automated accounting transactions, ensuring accuracy and timeliness in the general ledger system.  
• Develop, document, and implement standard operating procedures, monitoring adherence to established processes.   
• Support additional initiatives by performing related duties and special projects as assigned. 

Qualifications

A baccalaureate degree from an accredited college or university, including or supplemented by 24 semester credits in accounting, including one course each in advanced accounting and auditing.

Preferred Skills 

• Minimum three years of experience in the financial service industry, including two years in retirement or employee benefits accounting. 
• Strong understanding of accounting principles, financial data management, general ledger applications, and reconciliation processes. 
• Proficient in Microsoft Word and Excel for financial reporting and data analysis. 
• Experience verifying business transactions, posting entries, and reconciling general ledger accounts. 
• Familiarity with accounting software such as Macola or similar platforms. 
• Knowledge of accounting rules, best practices, and compliance standards. 

Benefits of Working for the City of New York 

• Flexible Work Arrangements: Hybrid work schedules offer a balanced combination of remote and in-office work, promoting a healthy work-life balance. 
• Comprehensive Health Benefits: Access to excellent healthcare coverage, including medical, dental, and vision plans. 
• Retirement Plans: Robust pension plans, including the New York City Retirement Systems (NYCERS), and NYC Deferred Compensation (401k and 403b) providing financial security post-retirement. 
• Commuter Benefits: Enjoy pre-tax deductions for eligible commuting expenses, reducing your taxable income and saving you money. 
• Professional Development: Opportunities for continuous learning and career advancement through various training programs and workshops. 
• Competitive Salaries: Competitive compensation packages commensurate with experience and responsibilities. 
• Paid Time Off: Generous paid leave policies, including vacation days, sick leave, and holidays. 
• Work-Life Balance: Programs and policies supporting a balance professional and personal life. 
• Career Growth: Long-term career prospects supported by a stable and well-established city government. 
• Public Service Loan Forgiveness (PSLF): Eligibility for federal loan forgiveness programs and state repayment assistance programs, while working full-time for a qualifying employer like the City of New York. 
• Diverse Work Environment: Inclusive and diverse workplace culture, reflecting the vibrant city of New York. 

Additional Information

New York City residency is generally required. However, City Employees in certain titles who have worked for the City for 2 continuous years may also be eligible to reside in Nassau, Suffolk, Putnam, Westchester, Rockland, or Orange County.  

TRS is an Equal Opportunity Employer