Escrow Specialist

Compass Real Estate - Peninsula; Illinois; Hybrid; USD 56,000 - 62,000; Full time

Benefits offered by this job

Incentive programs (cash/equity/comm.)

Paid vacation & holidays

Medical, dental & vision benefits

401(k)

FSAs

Commuter program

Life & disability insurance

Maven

Fertility benefits (Carrot)

UrbanSitter

Job summary

Compass Real Estate - Peninsula is seeking an Escrow Specialist to manage escrow and commission payments and support day-to-day transaction operations. You will work with agents and the Finance team to ensure accurate funds processing and timely responses to inquiries.

The role requires 3+ years in accounting/payroll, strong Excel/Google Suite skills, and clear communication. Hybrid work with IL office visits is expected, with potential travel to other IL locations for events.

Qualifications

• BA/BS preferred.
• 3+ years experience in accounting or payroll.
• Strong teamwork and deadline-oriented in a fast-paced environment.
• Excellent written and verbal communication skills.
• Strong written, quantitative, and verbal skills.
• Proficient in Excel and Google Suite.
• Impeccable attention to detail and customer service instincts.
• Prior real estate experience preferred.

Responsibilities

• Reconcile, allocate, and release escrow and commission payments.
• Maintain daily escrow activities: funds management, discrepancies, reconciliations.
• Process 3rd party payments (Pass-Throughs) for sales/rentals.
• Support agents with inquiries on Pass-Through payments.
• Request stop payments and process wire payments as needed.
• Collaborate with accounting on reconciliations and monthly analytics.
• Assist with inquiries affecting monthly financial statements.
• Support annual financial and compliance audits.
• Assist agents with commission payouts, deductions, and calculations.
• Perform special projects and collaborate with Product & Engineering.

Skills

Accounting experience

Payroll experience

Teamwork

Communication skills

Attention to detail

Real estate familiarity

Education

BA/BS preferred

Tools

Excel

Google Suite

Job description

At Compass, our mission is to help everyone find their place in the world. Founded in 2012, we’re revolutionizing the real estate industry with our end-to-end platform that empowers residential real estate agents to deliver exceptional service to seller and buyer clients.

As an Escrow Specialist, you will be an integral member of our dynamic and growing Transaction Management team and will assume responsibility for multiple processes as related to the end-to-end processing of our real estate transactions. You will play a critical role in the day-to-day operations of the company, interacting daily with agents and collaborating with our Finance and Accounting team.

The primary focus of the position will be to administer the day-to-day aspects of our escrow account, including incoming and outgoing funds, processing intercompany transfers, investigating account discrepancies, processing outgoing third party payments and managing the related customer service aspects. Additional responsibilities may include providing support in commission payment processing, compliance document auditing, and coordinating with the other teams regarding reconciliation of end-of-the month financial reports.

This position is required to work out of the following Compass offices located in Lincoln Park, one day, every other week, and expected to visit other IL offices occasionally for special events if needed. Compass values in-person connection. While this department is currently working within a hybrid attendance policy, we ask employees to prioritize visiting local offices where they may find value in connecting with their colleagues and customers in person more regularly. You will be expected to comply with your department’s schedule, as outlined by your hiring manager. Please note that the department's current policy is subject to change in the future.

At Compass You Will

• Reconcile, allocate, and release escrow and commission payments.
• Responsible for the daily maintenance of escrow activities, including funds management (incoming and outgoing), resolution of account discrepancies, as well as account reconciliations.
• Process outgoing 3rd party payments (Pass-Throughs) as per our agents’ requests in relation to sales and rental closings.
• Provide support to agents in response to inquiries regarding 3rd party payments (Pass-Throughs).
• Request stop payments on agent commission checks and process wire payments when necessary.
• Collaborate with the accounting team on the account reconciliations as well as the monthly analytics.
• Assist the Accounting team to research and respond to inquiries impacting the monthly financial statement.
• Support with the annual financial audit and compliance audit requirements
• Provide support to Agents in response to inquiries regarding commission payouts, deductions, and commission calculations
• Perform special projects as assigned
• Collaborate with the Product & Engineering Team to help us build a better real estate transaction system.

What We Look For

• B.A. or B.S. degree preferred
• 3+ years of experience, in an accounting or payroll function
• Strong teamwork skills and ability to meet deadlines in a fast-paced environment
• Excellent written and verbal communication skills
• Strong written, quantitative, and verbal skills
• Proficient in Excel and Google Suite
• Impeccable attention to detail and solid customer service instincts
• Prior experience in real estate is preferred

Compensation: The base pay range for this position is $27 - $30 per hour; however, base pay offered may vary depending on job-related knowledge, skills, and experience. Bonuses and restricted stock units may be provided as part of the compensation package, in addition to a full range of benefits. Base pay is based on market location. Minimum wage for the position will always be met.

Perks That You Need To Know About

• Participation in our incentive programs (which may include eligible cash, equity, or commissions).
• Plus paid vacation, holidays, sick time, parental leave, and recharge leave
• medical, tele-health, dental and vision benefits
• 401(k) plan
• flexible spending accounts (FSAs)
• commuter program
• life and disability insurance
• Maven (a support system for new parents)
• Carrot (fertility benefits)
• UrbanSitter (caregiver referral network)
• Employee Assistance Program
• pet insurance

Do your best work, be your authentic self.

As an equal opportunity employer, we offer competitive compensation packages, robust benefits and professional growth opportunities aimed at helping to improve our employees' lives and careers.

At Compass, we believe that everyone deserves to find their place in the world - a place where they feel like they belong, where they can be their authentic selves, where they can thrive. Our collaborative, energetic culture is grounded in our Compass Entrepreneurship Principles and our commitment to diversity, equity, inclusion, growth and mobility.

Notice for California Applicants

Los Angeles County Fair Chance Notice