Job Description
As a Cash Manager, you will play a vital role in ensuring the effective management, quality, and timely processing and reporting of all cash and associated accounting transactions related to the Home Equity Conversion Mortgage (HECM) loan portfolio. You will implement quality standards and guarantee that all deliverables meet established performance standards. Your expertise in internal controls, accounting principles, and audit standards will be essential in this position.
Key Responsibilities:
- Manage loan conversions, including daily electronic boarding and validation of all initial 2nd Trust Partial Claims.
- Reconcile all loan asset sale transactions based on settlement logs from loan sales.
- Validate new compliance and direct loans in support of programs such as Good Neighbor Next Door and ACA.
- Ensure proper handling of checks by validating invalid checks, posting valid checks to the correct accounts, and complying with payment application requirements.
- Reconcile funds transmitted to the Treasury Department through the OTCnet remote deposit service.
- Oversee quality control and payoff requests for all portfolios.
- Validate, process, and reconcile all HECM scheduled payments by the second business day of each month, transmitting ACH files to the disbursing bank.
- Review unscheduled disbursement requests for HECM loans, ensuring compliance with program requirements.
- Manage approved invoices for various payments, ensuring all documentation is validated and funds are available.
- Assess daily funding requirements, request necessary funds, and monitor fund advances.
- Oversee the issuance of Cashier's checks and manage the daily processing of disbursements through the Treasury SPS, including budget obligations and monthly reconciliations.
- Validate loan payoff packages and deliver necessary documentation to the Lien Release Department.
- Review collection registers and oversee daily HUD funding requests.
- Prepare comprehensive reconciliations of cash activity across various accounts by the fifth business day each month.
- Track and resolve all reconciling items within 30 days.
- Manage intra-agency cash transfers, ensuring accuracy and compliance.
- Assist with month-end closing processes, including accrual calculations and posting.
- Validate and package monthly deliverable reports for various divisions by the second business day.
- Conduct quality control for all processed transactions, addressing discrepancies and implementing corrective action plans.
- Review HUD quality control findings quarterly and develop remediation plans for control weaknesses.
- Maintain and update transaction processing policies and procedures, providing training to staff to ensure compliance.
- Monitor and report on Cash Management Key Performance Indicators (KPIs), collaborating with management on staff performance and needs.
- Handle incoming and outgoing documentation, organizing and filing all necessary paperwork according to contract policy.
Skills and Qualifications:
- Excellent verbal and written communication skills.
- Strong understanding of cash management and accounting processes, including loan conversions and accounts payable/receivable.
- Ability to analyze and interpret accounting reports.
- Thorough knowledge of accounting methodologies and federal fund accounting.
- Familiarity with loan servicing practices and business controls.
- Proficiency in Microsoft Office, particularly Excel, with strong analytical and problem-solving abilities.
- Ability to follow established procedures and instructions.
- Strong multitasking skills with the ability to meet deadlines.
Education and Experience:
- Bachelor's degree in Business or a related field.
- Minimum of three years of mortgage servicing-related accounting experience, including knowledge of cash management regulations. A Certified Public Accountant (CPA) license is preferred. Relevant experience should have been acquired within the last four years.
Employment Type: Full-Time
Salary: $ 40,000.00 140,000.00 Per Year
Job Tags
Full time, Contract work, Remote job,