Asset Accountant

Stillwater Asset Management; Stillwater (MN); On-site; USD 55,000 - 70,000; Full time

Job summary

Stillwater Asset Management, LLC, an equal opportunity employer, is seeking an Asset Accountant to support loan payments, invoicing, and financial reporting for a portfolio of real estate debts. This development role offers exposure to loan servicing, accounts payable/receivable, and month-end close processes within a collaborative accounting team.

Responsibilities include processing payments, preparing statements, and assisting with quarterly financial statements and investor reporting.

Qualifications

• 1–3 years of accounting/finance experience.
• Solid understanding of GAAP and financial statements.
• Proficiency with Microsoft Office and loan servicing systems.

Responsibilities

• Reconcile loan payments and post in accounting systems.
• Prepare payoff statements and balance reconciliations.
• Support month-end/quarter-end close and reporting.

Skills

Attention to detail

Communication skills

Time management

Confidentiality

Education

Bachelor’s degree in Accounting, Finance, or related field

Tools

Excel

QuickBooks

Loan Servicing Software

Salesforce

Job description

Stillwater Asset Management, LLC (“SAM”) is a woman-owned, alternative investment firm focused on private real estate debt opportunities. SAM applies a value investment approach to acquire, manage, and create portfolios of commercial real estate mortgages, small balance commercial loans, and commercial & industrial loans with the goal of preserving the principal investment. SAM provides equal employment opportunities (EEO) to all employees and applicants for employment without regard to race, color, religion, sex, national origin, age, disability or genetics.

The Asset Accountant is responsible for supporting the financial and accounting activities associated with a portfolio of loans. This role integrates strong accounting judgment, accurate loan payment and invoice processing, data analysis, and exemplary internal customer service. As a member of the accounting team, this role also handles a broad range of day-to-day accounting tasks, including accounts payable and receivable, account reconciliations, audit and control requirements, month-end and quarter-end close activities, and financial and management reporting. The Asset Accountant works closely with the affiliated loan servicing team and investment team, and this position is designed as a development role with opportunities to advance within the accounting function as skills and experience grow.

PRIMARY RESPONSIBILITIES INCLUDE:

Loan Payment Processing

• Reconcile cash receipts across multiple fund entities and lock boxes, process borrower loan payments accurately and on time, applying funds to principal, interest, and fees according to loan terms
• Post payments in the loan servicing and accounting systems and reconcile daily payment activity to bank deposits
• Research and resolve payment exceptions, including short, late, or unidentified payments; Identify missed or late payments and expedite potential issues to the loan servicing team
• Prepare payoff statements and process loan payoffs for review

Invoice Processing and Accounts Payable/Receivable

• Prepare and issue borrower billing statements and client servicing fee invoices
• Review, code, and process vendor invoices for approval and payment
• Track receivables, apply incoming receipts, and follow up on past-due balances
• Maintain vendor records, including W-9s, and assist with year-end 1099 preparation

Financial and Management Reporting, Close Activities

• Complete monthly collection reporting package, including analysis comparing actual loan collections to projections
• Assist in monthly reconciliations of operating and custodial bank accounts
• Support the completion of quarterly financial statements, including allocations and detailed review of reports
• Update and maintain monthly performance reports, calculating performance metrics, including variance explanations

• Assist with quarterly valuation presentations and ad-hoc investor reporting
• Support other accounting projects and reporting as needed

QUALIFICATIONS AND SKILLS

• Bachelor’s degree in Accounting, Finance, or related field required.
• 1-3 years of accounting / finance experience; recent college graduates are encouraged to apply (accounting, banking, or financial services internships are a plus).
• Solid understanding of accounting principles (GAAP) and financial statements.
• Proficiency in Microsoft Office (Excel, Outlook, Teams) and the ability to learn accounting and loan servicing systems (Loan Servicing Soft, QuickBooks and Salesforce).
• Strong attention to detail, accuracy, organizational skills, and willingness to learn.
• Ability to manage multiple priorities in a deadline-driven environment.
• Desire to grow within accounting and take on increasing responsibility over time.
• Excellent written and verbal communication skills.
• Self-motivated, dependable individual who takes ownership of their work and maintains confidentiality.

Salary range: $55,000 - $70,000 based on experience