Accounting Compliance Business Control Specialist 5 Job Description Job Description Summary
With minimal supervision, process and reconcile mortgage loan activity and remittances reported by multiple 3rd Party Servicer portfolios, and compile and deliver timely and accurate reports to investors. Responsibilities:
- Process and reconcile monthly mortgage loan activity reported by multiple servicers to ensure Master Servicing and sub-servicer compliance with the governing servicing and investor agreements. Processing includes: loan modifications, SCRA military indulgence, repurchases, paid-in-fulls, performing ARM audits, servicer remittance validation, deceased borrower reporting, assessing penalty billings, and completing audit confirmations, etc.
- Perform monthly portfolio and cash reconciliations and communicate variances to the underlying servicers for resolution.
- Research and resolve unapplied funds received from sub-servicers by determining appropriate actions to prevent items from aging.
- Prepare and deliver RMBS, Portfolio Owned and Private investor reports in accordance with the governing agreements.
- Provide servicers and investors with servicing expertise and guidance to ensure accurate reporting and to assist with timely resolution of compliance issues.
- Monitor Unapplied Funds Report (OR722) to ensure items are cleared timely and escalated if necessary.
- Ensure timely resolution of portfolio and remittance variances with the underlying servicers, and adhere to established Escalation Procedures.
- Assist with updating accounting operation workflows and procedure manuals.
- Perform additional job-related duties as required and/or assigned.
- Thorough understanding of residential loan accounting practices, and various remittance methods and their effect on investor cash flows.
- Strong mathematic, analytic, and problem solving skills.
- Aptitude to interpret contracts to quickly identify compliance issues.
- Effective verbal and written communication skills, efficient time and priority management, detail and multi-task oriented.
- Working knowledge of default and custodial cash management preferred.
- Proficient in Microsoft Word, and Excel. Working knowledge of Access a plus.
Job Family Group:
- High school diploma or equivalent required.
- Minimum 2 years of RMBS investor accounting experience.
- 2 years experience on SBO2000 master servicing system preferred.
- Bachelor's degree in General Business, Accounting, or Finance, or equivalent work experience, a plus.
Compliance and ControlJob Family:
Business Control Time Type:
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