Investor Accounting Specialist

Dollar Bank; Green (OH); Hybrid; USD 65,000 - 85,000; Full time

Benefits offered by this job

Hybrid work schedule

Job summary

Dollar Bank is seeking a loan servicing accountant responsible for accurate tracking and reporting of loan servicing activity to investors, and for preparing cutoff reports and remittances according to investor guidelines and internal controls. The role also involves maintaining servicing applications, performing reconciliations, and supporting cross-functional cash management tasks.

A degree in finance or accounting is required, with bachelor’s degree preferred; hybrid work schedule after

Qualifications

• Associates degree required in business management, finance, accounting, marketing or economics; bachelor’s degree preferred.
• Accounting experience strongly preferred; strong math and banking calculations required.
• Ability to perform complex reconciliations and collaborate with other departments to resolve issues.

Responsibilities

• Develop and maintain knowledge of investor reporting principles and amortization formulas.
• Prepare monthly cutoff reports and transmissions for FNMA, FHLMC, GNMA, FHLB and other investors.
• Process monetary remittances to investors per servicing agreements.
• Reconcile investor custodial accounts and related bank accounts on a daily/weekly/monthly schedule.
• Maintain loan-servicing system data and respond to investor inquiries and audits.

Skills

Accounting

Reconciliations

Financial calculations

Analytical skills

Attention to detail

Communication

Education

Associate degree in business/finance

Bachelor’s degree preferred

Tools

Sagent LoanServ

Excel

Job description

The successful candidate will be responsible for the accurate tracking and reporting of loan servicing activity to investors as well as the preparation of cut-off reports and investor remittances in accordance with investor guidelines, servicing agreements, and internal procedures and controls.

Update and maintain the various servicing applications utilized to produce accurate and timely reports and remittances.

This role requires the ability to work with more complex accounting and data problems associated with mortgage loan servicing and investor cash management.

Perform bank account reconciliations and cash tests, reconcile investor portfolios, and set-up new acquisitions and loan sales for the department.

Candidate will have the opportunity to work a hybrid schedule after successful training at manager's discretion. Role will provide cross-functional support to the loan servicing Accounting Department which includes daily balancing of loan servicing cash flow, funds transfers, wire transfers, processing of check requests, balancing of servicing system data to bank accounts and investor records, and general ledger account reconciliations.

Qualifications

Associates degree or commensurate experience required in business management, finance, accounting, marketing or economics required. Bachelor’s degree in related fields preferred.

Accounting Experience Strongly Preferred.

Must have excellent mathematical skills, including a sound knowledge of banking financial calculations (i.e. amortizations, interest rate and payment calculations, etc.). Must possess the ability to perform complex reconcilements, to minimize account outages and work with other departments to resolve reconciling items and/or technical accounting issues in a timely manner. Strong analytical and research skills are required, along with the ability to work with internal and external customers for timely and accurate resolutions to issues. Must be able to manage time efficiently and work independently with minimum supervision. Must have excellent written and verbal communication skills. Must have strong propensity for detail, accuracy, and confidentiality. Must have intermediate knowledge of Microsoft Excel (testing will be administered). Experience with Sagent LoanServ or equivalent loan servicing platform preferred.

Principal Activities/Objectives

Develop a thorough knowledge of investor reporting principles that support the various reporting and remittance types, amortization formulas, service fees and payoff calculations. Prepare and submit monthly cutoff reports/transmissions for FNMA, FHLMC, GNMA, FHLB, and other single debit investors within investor and department requirements. Process monetary remittances to investors according to servicing agreement requirements. Monitor custodial accounts to ensure adequate balances to cover remittances and remit cash collections as required. Reconcile investor custodial accounts as required by the investor. Maintain and utilize the loan-servicing system and other applications, including investor applications to ensure accuracy and produce reports required by the investors and management. Record loan sale transactions in the servicing system to properly update the loan record, investor record, and relieve general ledger accounts. Respond to compliance inquiries from investors and internal audit. Maintain clear and professional relationships with investors via verbal or written communication. Respond to all requests in a timely manner. Be responsive to requests from investors and other departments and resolve problems as they occur to maintain sound controls and prevent problems from reoccurring or compounding. Process transactions, including check requests / transfer requests / deposit requests / wire requests accurately and in a timely manner. Conduct reconcilements of corporate or custodial bank accounts, general ledger accounts, and/or system activities on a daily, weekly, or monthly cycle as appropriate. Actively seek opportunities to improve process efficiencies and communicate ideas to effect change.

Note: Nothing in this job description restricts management’s right to assign or reassign duties and responsibilities to this job at any time. All employees have the responsibility and the accountability to serve as risk managers for their businesses by understanding, reporting, responding to, managing, and monitoring the risk they encounter daily as required by Dollar Bank’s risk management program. Compliance with regulatory laws and company procedures is a required component of all position descriptions.