Title: Banking & Reconciliation Specialist - Outgoing (Hybrid Work Schedule)

State Role Title: Salary Non-Specified

Hiring Range: $58,227 - $66,000

Pay Band: UG

Agency: Virginia Retirement System

Location: Virginia Retirement System

Agency Website: www.varetire.org/careers

Recruitment Type: General Public - G

Job Duties

The Virginia Retirement System department of Finance is seeking a Banking & Reconciliation Specialist. This position works with various internal and external customers to ensure vouchers and wires are processed promptly and accurately according to all relevant policies and procedures. In addition, the role completes account reconciliations with supervision to ensure transactions are recorded correctly and that all relevant documentation is maintained and distributed.

This position is entry level and the first step of an approved career ladder illustrated below:
Banking & Reconciliation Specialist - Incoming
Banking & Reconciliation Specialist - Outgoing
Banking & Reconciliation Analyst - Incoming
Banking & Reconciliation Analyst - Outgoing
Senior Reconciliation Analyst
Lead Reconciliation Analyst (competitive)

Essential duties include but are not limited to:

• Collaborates with the Investment team and external banking institutions to ensure investment transfer wires are processed accurately, securely, and in a timely manner, in full compliance with established policies and procedures.
• Maintains, reviews, and distributes all required supporting documentation in accordance with internal controls and record-retention standards.
• Safeguards the integrity and security of the Commonwealth of Virginia’s financial systems.
• Issues, reviews, tracks, and maintains voucher numbers for all disbursements to ensure proper authorization and audit readiness.
• Reviews and updates policies and procedures as needed to support operational efficiency and regulatory compliance.
• Analyzes and reconciles assigned general ledger accounts within VRS line-of-business systems and reconciles with Department of Accounts (DOA) and Virginia Department of the Treasury records, recommending process improvements and corrective actions as appropriate under supervision.
• Participates in cross-functional and cross-hierarchical teams to enhance service delivery and improve processes across agency lines.
• Works effectively with all levels of management and staff to identify opportunities for process improvements and operational efficiencies.
• Performs additional projects and duties as assigned to support organizational objectives.

Minimum Qualifications

High School diploma.

Six (6) months of experience required or an equivalent combination of education and experience will be considered.

Preferred Experience:
One year of Accounting experience, including work with large databases and general ledger systems
Some experience completing reconciliations
Some experience in banking and payment processing

Additional Considerations

Knowledge and understanding of internal controls, reconciliations, general accounting principles and procedures, and office administration. Proficiency in Microsoft Office, particularly in Word and Excel.
Strong analytical skills, excellent attention to detail, and the ability to accurately enter and reconcile financial transactions. Strong customer service, communication, and organization skills. Ability to work independently and prioritize tasks effectively.

Special Instruction

VRS Hybrid Work Schedule: VRS' current hybrid schedule is three (3) days onsite (Tuesday, Wednesday, Thursday) and two (2) days remote (Monday and Friday).  All employees are expected to work onsite any day of the week if required by management. 

You will be provided a confirmation of receipt when your application and/or résumé is submitted successfully. Please refer to “Your Application” in your account to check the status of your application for this position.

Contact Information

Name: VRS Human Resources

Email: careers@varetire.org

In support of the Commonwealth’s commitment to inclusion, we are encouraging individuals with disabilities to apply through the Commonwealth Alternative Hiring Process. To be considered for this opportunity, applicants will need to provide their AHP Letter (formerly COD) provided by the Department for Aging & Rehabilitative Services (DARS), or the Department for the Blind & Vision Impaired (DBVI). Service-Connected Veterans are encouraged to answer Veteran status questions and submit their disability documentation, if applicable, to DARS/DBVI to get their AHP Letter. Requesting an AHP Letter can be found at AHP Letter or by calling DARS at 800-552-5019.

Note: Applicants who received a Certificate of Disability from DARS or DBVI dated between April 1, 2022- February 29, 2024, can still use that COD as applicable documentation for the Alternative Hiring Process.