Join our Talent Network
Skip to main content

Director, Mortgage Accounting

This job posting is no longer active.

Job ID: 1001655
Company: PHH Mortgage

Save Job Saved

Job Description

This position is directly responsible for accounting for the Reverse Mortgage business of originating and servicing/subservicing of reverse mortgage loans. This includes the accounting for reverse mortgage loans from lock through funding, sale, and ultimate disposition of the reverse loan and a close partnership with our business unit partners. This role includes reconciliation preparation and approval, general ledger entries, financial reporting, special projects, facilitation of internal and external audits.

Job Functions and Responsibilities:

To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. Examples below:

  • Oversight of general ledger accounts related to Reverse Mortgage, including servicing of loans held for investment (LHFI) portfolio, loans held for sale (LHFS) portfolio, servicing and subservicing portfolios, mortgage derivatives, warehouse lines of credit and funding facilities, as well as funding and sales clearance accounts for reverse mortgage loans.
  • Ensuring the accuracy of accounting in the general ledger for, among other things, reverse mortgage LHFI portfolio, LHFS portfolio, mortgage derivatives, as well as both servicing and subservicing portfolios
  • Validating the valuation of the LHFI and MSRs 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 Reverse originations and servicing within the segments as mentioned above.
  • Oversight of quarterly and annual disclosures related to reverse mortgage activity for external reporting purposes (i.e. 10-Q and MBFRF)
  • Drafting accounting conclusions as it relates to Reverse Mortgage-related issues
  • Communicating with other business units, e.g. Treasury, Capital Markets, and Servicing 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/documentation and identification of control gaps
  • Building reporting metrics to better manage the reverse mortgage originations and servicing business
  • Frequent communication with and escalation of issues to Controller and CAO


To perform this job successfully, an individual must have the following education and/or experience:

  • Bachelor's degree in Accounting, Finance
  • Minimum 10 years of relevant progressive experience in Accounting with increasing levels of experience
  • Minimum 7 years of supervisory experience
  • Knowledge of US generally accepted accounting principles in the mortgage or banking industry with 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, and MTM pricing process required.
  • Experience in streamlining and building controlled processes and procedures
  • Ability to partner with all levels of management to ensure effective implementation of time-sensitive initiatives and identify deficiencies and opportunities for improvement
  • Must have a demonstrated and proven ability to multi-task and meet deadlines in a fast-paced deadline-driven and constantly changing environment
  • A successful track record of developing strong relationships across a broad range of leadership functions allowing the person to effectively influence and effect change to drive and improve business performance.
  • Ability to independently analyze, lead, and present complex financial information concisely, with clarity and with very limited guidance
  • Ability to work with and lead teams, especially across locations and time zones, in execution of projects and identification/ resolution of deficiencies or opportunities for improvement
  • Excellent written, oral communication and presentation skills.
  • Ability to operate in a fast-paced, dynamic environment with minimal daily supervision
  • Certified public accountant preferred
  • Big 4 accounting experience preferred
  • Public company and SOX control experience preferred

Training / Licensing Requirements:

  • Must pass the Company's Background Screening process prior to beginning employment. Additionally, as a condition of employment, you may be required to pass client-specific background check requirements or Federal/State licensing requirements, if applicable.

Company Summary:

Ocwen and its subsidiaries are proud to be equal opportunity workplaces. We are committed to equal employment opportunity regardless of race, color, ancestry, religion, sex, national origin, sexual orientation, age, citizenship, marital status, disability, gender identity or Veteran status. If you have a disability or special need that requires accommodation, please let us know.


This position is not eligible to be performed in the state of Colorado.

About Us

Company: PHH Mortgage

PHH Mortgage, a wholly owned subsidiary of Ocwen Financial Corporation, is one of the largest subservicers of residential mortgages in the United States. PHH Mortgage provides servicing solutions to companies who own mortgage servicing rights and offers portfolio retention services to extend and enhance customer relationships.

PHH has been providing mortgage lending and servicing solutions since 1984 and is dedicated to responsible and ethical practices while delivering an exceptional customer experience. We strictly focus on subservicing and portfolio retention allowing our diverse professional clients - representing some of the largest and most recognizable financial and wealth management institutions, investors of MSRs, regional and community banks, and credit unions - to concentrate on their core businesses, while providing borrowers with exceptional customer service throughout the life of their loans.

Adhering to the highest levels of risk and compliance, built to bank-like standards, we build relationships with our clients and their customers to promote a philosophy of retaining "customers for life." We strive to be a natural extension of each client's team, helping them to keep their expenses down, borrowers satisfied and service levels up while meeting today's regulatory demands and changing market conditions.

Ocwen is proud to be an equal opportunity workplace and is an affirmative action employer. We are committed to equal employment opportunity regardless of race, color, ancestry, religion, sex, national origin, sexual orientation, age, citizenship, marital status, disability, gender identity or Veteran status. If you have a disability or special need that requires accommodation, please let us know.

Share: mail