Location: Bangalore, KA, India
Job ID: 1003629
POSITION TITLE: Mortgage Lending and Capital Markets, Manager
Accounting for the Originations and Capital Markets business segment includes the mortgage lending pipeline, funding of loans, and sale of loans partnering closely with our business unit partners. This role includes reconciliation preparation and approval, general ledger entries, financial reporting, special projects and facilitation of internal and external audits for both third party and related-party loan sales, derivatives, and on-balance sheet loan inventory.
Job Functions and Responsibilities:
• Accounting and reconciliations of general ledger accounts related to Mortgage Lending and Capital Markets to including loan inventory, warehouse lines of credit, derivatives, as well as funding and sales clearance accounts for both traditional residential mortgage loans and reverse mortgage loans.
• Ensuring the accuracy of accounting in the general ledger for, among other things, mortgage pipeline, inventory, hedges and loan sales
• Validating the valuation of the mortgage pipeline, derivatives, and inventory loans on a monthly basis received from internal business partners and/or third-parties.
• Execution and documentation of key controls for SOX purposes regarding completeness, accuracy, valuation, and disclosure of Originations segment accounts as mentioned above.
• Preparation of quarterly and annual disclosures related to funding activity as well as secondary marketing activity for external reporting purposes (i.e. 10-Q and MBFRF)
• Drafting accounting conclusions as it relates to Originations and Capital Markets-related issues
• Communicating with other business units, e.g. Treasury, Capital Markets, and Lending BUs to research, escalate and resolve issues
• Special accounting related projects (automation, ledger enhancements, reporting changes, etc.) including working with business partners to provide Accounting requirements, participate in project meetings, and perform UAT testing.
• Coordinate and monitor deliverables for external auditors and internal auditors
Key Result Areas:
• Complete and accurate financial information provided monthly for executive leadership review and quarterly for publicly filed financial statements
• Prepare and present monthly financial results as well as financial analytics and metrics to executive leadership for review. Timely and accurate account reconciliation and rollforwards.
• Identification and assessments of internal controls, including timely execution/document and identification of control gaps
• Frequent communication with and escalation of issues to Controller / Director
• Post graduate experience with 7+ years of accounting experience
• 4+ years of management experience
• Certified public accountant preferred
• Big 4 accounting experience preferred
• Public company and SOX control experience preferred
• Knowledge of US generally accepted accounting principles in the mortgage or banking industry (preferred experience - residential mortgage loans and reverse mortgage loans)
• Prior experience in accounting for loans held for sale (LHFS), loans held for investment (LHFI) at fair value, mortgage derivatives, and MTM pricing process preferred.
• Ability to operate in a fast-paced, dynamic environment with minimal daily supervision
• 2-11 PM