Cash Management Specialist

Planet Home Lending; Meriden (CT); On-site; USD 40,000 - 70,000; Full time

Job summary

Join a dynamic and growing company as a Cash Management Specialist I, where you will play a crucial role in processing funds and ensuring accuracy in loan servicing. This position offers the opportunity to work in a fast-paced environment, handling daily reconciliations, bank deposits, and managing cash tasks. With a focus on compliance and internal policies, you will contribute to the efficiency of financial operations. Enjoy a comprehensive benefits package, including medical, dental, and vision insurance, as well as a supportive team atmosphere that values your contributions. This is your chance to be part of a thriving organization committed to excellence.

Benefits

Medical Insurance

Dental Insurance

Vision Insurance

401(k) Plan

Paid Holidays

Disability Insurance

Life Insurance

Qualifications

• High school diploma or equivalent required.
• Previous loan servicing experience in payment processing or accounting preferable.

Responsibilities

• Process all funds to the servicing system accurately and timely.
• Perform daily reconciliation of payments processed to cash received.
• Complete final reconciliation for outstanding balances on loans.

Skills

Communication Skills

Problem Solving

Organizational Skills

Mathematical Skills

Data Analysis

Education

High School Diploma

Job description

Job Description

Job Description

Job Summary

TheCash Management Specialist Iis responsible for processing all funds to the servicing system. This includes daily balancing of the servicing system and reconciliation of all loan funds received. The cash management specialist is also responsible for bank deposits, check printing, corporate advance processing, reversals, claim funds processing and final loan reconciliation. All funds are processed in accordance with internal policies and procedures, investor requirements and state and federal laws.

Essential Duties and Responsibilities

• Ensures all funds received are processed to the servicing system timely and accurately including but not limited to mail received, lockbox exceptions, wires, hardest hit funds, liquidation/payoff funds, claim funds, escrow funds, modification funds and task requests. Ensures all funds are properly effective dated and processed in accordance with investor guidelines, state and federal law and internal policies and procedures.
• Monitors suspense balances and works with servicing departments to ensure funds received are processed timely and per internal procedures and investor requirements.
• Performs daily reconciliation of the payments processed to the cash received. Accurately completes the daily deposit to the servicing deposit account.
• Completes daily system balancing of the Servicing system including reconciliation of escrow and remittance checks, daily logging and clearing of the physical bank account.
• Processes check returns and payment reversals promptly and accurately, ensuring that the servicing system is properly noted and appropriate notifications are sent to borrowers.
• Processes all cash management task and research items accurately and updates the servicing system and system notes as appropriate.
• Completes the processing of all corporate advance transactions to ensure compliance with investor requirements and internal policies and procedures.
• Completes the final reconciliation process for outstanding balances on all zero balance loans in compliance with investor and internal policy and procedure.
• Promptly scans daily work to the imaging system.
• Performs miscellaneous duties as assigned.

Position Requirements

Education

• High school diploma or equivalent required

Experience

• Previous loan servicing experience in payment processing or accounting preferable

Functional/Technical Skills

• Strong written and verbal communication skills
• Ability to problem solve and research issues when needed
• Displays strong organizational skills, attention to detail, and ability to handle multiple priorities
• Effectively manages time and meets deadlines
• Possesses strong mathematical skills
• Ability to analyze and interpret data
• Works well in a fast-paced, team environment

Benefits

Our benefits package includes 3 comprehensive Cigna or Kaiser medical plans, dental, and vision insurance. We provide short term and long-term disability insurance, basic life insurance, 401(k), and 10 employer paid holidays. In addition, we offer supplemental benefits to include life insurance, critical illness and accident plans.

Environmental/Physical Demands

Work is typically performed in a standard office environment. The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. While performing the duties of this job, the employee is regularly required to sustain predictable work attendance, communicate with others, frequently required to stand, walk, sit, and use arms, hands and fingers to reach, handle or touch. The employee must occasionally lift and/or move up to 10 pounds. Specific vision abilities required by this job include close vision, and ability to adjust focus. Pursuant to the Americans with Disabilities Act, reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

This job description is not designed to cover or contain a comprehensive listing of all activities, duties or responsibilities that are required of an employee. The Company reserves the right to amend or modify this document at any time and without notice.

Company Description

Business is Booming! Planet Home Lending, LLC, is a privately held, full-service, national mortgage lender and servicer company. Planet is FNMA and FHLMC approved and sells through the Retail and Correspondent Channels, offering FHA, VA, Conventional, USDA, Jumbo, Non QM, and many other products. Planet Home Lending continues to reach month over month sales and servicing increases! Come join us!

Company Description

Business is Booming! Planet Home Lending, LLC, is a privately held, full-service, national mortgage lender and servicer company. Planet is FNMA and FHLMC approved and sells through the Retail and Correspondent Channels, offering FHA, VA, Conventional, USDA, Jumbo, Non QM, and many other products. Planet Home Lending continues to reach month over month sales and servicing increases! Come join us!