Full Job Description
For more than 30 years, the Virginia Lottery has been building an amazing organization
committed to growth and giving back – and having fun while doing it. We work hard to build authentic relationships with all Virginians by communicating with them in relevant, unique and surprising ways. Operating entirely on revenue from game sales, rather than tax dollars, the Virginia Lottery generates approximately $1.6 million per day for Virginia’s K-12 public schools.
The Virginia Lottery, an independent state agency, is currently seeking a Financial Reporting Accountant II to join its Finance team.
The Financial Reporting Accountant II will:
Handle the monthly and annual preparation and publication of all financial statements, in compliance with GAAP, GASB, and FASB rules:
Analyze and resolve financial variances and fluctuations for Lottery management and auditors.
Coordinate and prepare the Lottery’s statements for the statewide Comprehensive Annual Financial Report (CAFR).
Assist with the preparation of the Lottery’s annual report.
Coordinate all audit activities with the Auditor of Public Accounts and maintain effective relationships.
Assist in the timely and accurate publication of monthly financial statements.
Prepare Lottery’s monthly revenue page and summary for Department of Accounts and Department of Taxation, for inclusion in the Secretary of Finance Report to the General Assembly money committees.
Coordinate transfers of Lottery profits in accordance with requirements in the Code of Virginia and Appropriations Act, coordinating actions with the Department of Accounts, Department of Planning and Budget, and Department of Education.
Govern or Operate the Ledger Activity:
Prepare, review and approve daily ledger postings, balancing interface reports into the Lottery’s accounting system, and account reconciliations.
Resolve and report any problems.
Prepare and coordinate the monthly transfer of unclaimed prizes to state literary fund.
Prepare and coordinate Lottery weekly contract billings for the Lottery vendors.
Ensure continuity of operations, cross-training to become fully functional in all areas within financial reporting and general accounting.
Maintain accurate historical records and reports, including ledger documentation.
Ensure the gaming system parameters for scratch tickets and all other gaming products are effectively maintained, ensuring appropriate accounting treatment and effective prize payment controls.
Develop new accounting procedures for new Lottery products or processes to ensure compliance with accepted accounting practices:
Participate in all user testing and development with an impact on Lottery financial systems.
Map financial accounting entries and strategies for new products, systems, and processes to ensure the accuracy of financial records and compliance with GAAP, including recommendations for complex and unusual products to include multistate games and other non-routine products.
Prepare special financial analyses and presentations as requested:
Assist in the development and preparation of monthly and year-end financial forecasts.
Provide and prepare financial information for industry surveys and FOIA requests, as well as internal customers.
Review and coordinate finance activities with other Lottery Departments:
Assist in quarterly scratch game closings.
Review all scratch game working papers developed by Marketing to ensure proper prize and revenue structures are in accordance with accounting principles.
Coordinate with end users in departments to ensure that financial information and services.
In conjunction with the Budget Analyst, review operations for efficiency, accurate allocation of costs, and overall cost/benefit assessments as requested or as a possible need is identified.
Participate on panels and projects for agency-wide initiatives, including procurement panels and PMO projects.
Provide guidance and information to end users related to financial matters, including assistance for matters involving prize and revenue accounting, operating expenses, accruals, profitability, etc.
Other duties may be required based on supplementary assignments.
The person selected for this position will have:
Bachelor’s Degree in Accounting.
Thorough and demonstrated knowledge of generally accepted accounting principles, practices, and techniques.
Considerable knowledge of auditing and internal control standards and expectations.
Minimum of two years experience in automated accounting environment with responsibility for maintaining general ledger and preparing financial statements.
Experience developing complex spreadsheets, performing account analyses and reconciliations, and variance analysis.
Experience in audit engagements with professional audit staff.
Demonstrated ability to establish and maintain effective working relationships with officials, peers, other employees, and the general public.
Exceptional analytical and communication (oral and written) skills.
Proficiency in desktop applications such as, but not limited to, Microsoft Office, and integrated automated accounting systems.
A comparable amount of training and experience may be substituted for the minimum qualifications.
Preferred qualifications include:
CPA candidate a plus.
The selected candidate must be able to pass a background investigation and possess a valid Driver’s License.
Special Instructions to Applicants
The Virginia Lottery is an independent state agency, and as such all positions are exempt from the Virginia Personnel Act, as well as most Executive Branch human resources policies.
The Virginia Lottery is a fun place to work and values diversity in the workforce. We offer a competitive salary and excellent benefits. The Virginia Lottery is an Equal Opportunity Employer.
Only online applications completed in their entirety will be accepted for this position.
The Virginia Lottery will provide, if requested, reasonable accommodation to applicants in need of accommodation in order to provide access to the application and/or interview process. If any assistance is needed when applying online, please contact the Virginia Lottery’s Human Resources Department at email@example.com.
Applications will be accepted until a suitable pool of candidates is received. After 5 business days, this position may be closed at any time.