Trust Accountant Specialist
2 days ago
San Antonio
Job DescriptionSalary: Job Summary The Trust Accountant is responsible for managing client trust accounts, ensuring accurate record-keeping, compliance with legal and regulatory requirements, and safeguarding client funds. This role requires meticulous attention to detail, a strong understanding of accounting principles, and familiarity with legal industry standards, particularly those related to trust account management (e.g., IOLTA accounts). The Trust Accountant works closely with Finance Manager to maintain financial integrity and transparency. Essential Responsibilities and Duties • Trust Account Management:, • Maintain and reconcile client trust accounts, ensuring accurate tracking of funds held in trust for clients., • Record deposits, disbursements, and transfers in compliance with state bar regulations and firm policies., • Ensure client funds are properly segregated from firm operating accounts., • Process payments from trust accounts for client invoices, settlements, or other authorized disbursements., • Compliance and Reporting:, • Ensure adherence to state-specific trust accounting rules, such as Interest on Lawyers Trust Accounts (IOLTA) regulations., • Prepare and maintain detailed records for audits, including three-way reconciliations (bank statement, trust ledger, and client ledgers)., • Generate reports for attorneys, clients, and regulatory bodies as required., • Monitor for and resolve any discrepancies or overdrafts in trust accounts promptly., • Bookkeeping and Record-Keeping:, • Maintain accurate ledgers for each clients trust account, documenting all transactions., • Reconcile trust accounts with bank statements monthly or as required., • Assist with general ledger accounting tasks, such as recording retainers or processing refunds., • Collaboration and Communication:, • Work with attorneys and legal staff to verify trust account activities, such as client payments or settlement distributions., • Communicate with clients regarding trust account balances or transactions when necessary., • Coordinate with external auditors or regulatory bodies during trust account reviews., • Software and Systems:, • Utilize legal accounting software (e.g., Litify, QuickBooks, Workday) to manage trust accounts and generate reports., • Ensure data integrity and security within accounting systems., • Stay updated on software enhancements or changes in trust accounting technology. Required Qualifications • Education and Experience:, • Bachelors degree in accounting, finance, or a related field preferred., • 4+ years of accounting experience, preferably in a law firm or professional services environment., • Experience with trust accounting or IOLTA accounts is highly desirable., • Skills and Competencies:, • Strong knowledge of accounting principles and trust account regulations., • Proficiency in legal accounting software and Microsoft Office (especially Excel)., • Exceptional attention to detail and accuracy in financial record-keeping., • Ability to handle sensitive and confidential information with discretion., • Excellent organizational and time-management skills to meet deadlines., • Strong communication skills to interact with attorneys, clients, and external parties., • Certifications (Optional):, • Certified Bookkeeper or similar certification is a plus., • Familiarity with state bar association rules governing trust accounts. Key Performance Indicators • Accuracy & Compliance, • Zero compliance violations related to trust/IOLTA accounts (state bar audits, regulatory reviews)., • Error rate in reconciliations (goal: 1% discrepancy before resolution)., • On-time completion of monthly three-way reconciliations (goal: 100%)., • Timeliness, • Average turnaround time for processing deposits/disbursements (e.g., within 2448 hours of receipt/approval)., • Reporting timeliness: % of trust account reports delivered on or before deadlines (goal: 100%)., • Audit & Reporting Preparedness, • Audit readiness score: ability to produce complete, accurate records within X days of request., • Number of audit findings requiring corrective action (goal: zero)., • Client & Attorney Support, • Response time to attorney/client trust account inquiries (e.g., within 1 business day)., • Accuracy of client trust balance statements (goal: 100%)., • Attorney satisfaction rating from internal surveys (goal: 90%)., • Process & Systems Management, • System data accuracy: no mismatches between accounting software and bank records., • Adoption of software efficiencies: % of trust account functions automated or optimized through firm systems., • Frequency of discrepancies flagged and resolved proactively before external detection., • Financial Stewardship, • Proper segregation of client vs. firm funds (goal: 100%)., • Overdraft incidents in trust accounts (goal: zero)., • Retention of client interest (IOLTA compliance) no misallocation of funds. Work Environment • Full-time position, typically in an office setting, with potential for hybrid work depending on firm policies., • May require occasional overtime during busy periods, such as audits or year-end closings. Salary and Benefits • DOE, • Benefits:, • 401(k), • Dental insurance, • Health insurance, • Paid time off, • Vision insurance, • Mental health support You may apply to our career page: Physical Demands: The employee is regularly required to stand, walk, and use their hands to perform tasks. Some lifting of files (up to 10 pounds) may be necessary. Equal Opportunity Employment Statement Alonso & Alonso attorneys at law is an equal opportunity employer and is committed to building a diverse and inclusive organization. We prohibit discrimination and harassment of any kind based on race, color, religion, sex, sexual orientation, gender identity, national origin, disability status, age, or any other protected characteristic.