Treasury Reconciliations Manager

4 weeks ago

Chicago, Illinois, United States Fay Financial Full time

The Fay Group is a leading provider of mortgage servicing, property renovations, business purpose lending, insurance, and more to homeowners, investors, and clients nationwide.

Fay Financial handles a wide range of mortgage loan solutions for prospective homeowners with varying credit histories and offers refinancing for existing mortgages.

The company is made up of separate business units offering a complete range of home ownership products and services that provide customers with solutions to navigate the challenges of home ownership while helping them build toward their long-term financial goals.

Fay Cares

At Fay Financial, we take a kinder, more humane approach when homeowners fall short, explains CEO Ed Fay.

We consider the people behind those mortgages and work hard to give them the best chance possible to stay in their homes.

The Fay-Constructive Foundation was established to fulfill the philanthropic mission of Fay Financial employees to serve the communities in which they live and work.

Over 80% of employees across Fay, Constructive, and GenStone affiliate companies make voluntary contributions to the Foundation.

Each quarter, their contributions are donated to organizations focused on improving education opportunities, combating poverty, and supporting military service members and first responders.

We are currently seeking a Treasury Reconciliations Manager to join our team.

Reporting to the Senior Director-Treasury and Loan Accounting, this position is responsible for oversight and compliance with bank account reconciliations and reporting, with an emphasis on mortgage custodial accounts.

The role will assist in maintaining, improving, and developing the reconciliation and reporting process while supporting requests from auditors, affiliate accounting groups, and regulators when applicable.

Additionally, the role is responsible for leading a team and leadership of all core functions, including other responsibilities and projects within the Finance & Accounting department framework as required.

Key Responsibilities:

  • Build and lead a high-performing team of Finance and Accounting professionals
  • Manage performance, foster development and provide mentoring of and to employees
  • Provide training and guidance to staff and servicing departments on clearing reconciling items and preventing them from recurring
  • Manage the reconciliation of Clearing accounts to the mortgage servicing platform, ensuring dashboards are accurately developed
  • Manage and audit the reconciliation of P&I and T&I custodial accounts, including Test of Expected Cash
  • Perform reconciliations and reporting, as needed, to achieve and support client and company reporting requirements
  • Develop and maintain key management-level reporting and summaries
  • Keep leadership informed of financial performance and exceptions
  • Ensure reporting and compliance deadlines are met, including timely completion of reconciliations
  • Maintain KPI regarding reconciling items, number of accounts, and team capacity
  • Administration of service level treasury operations between all Fay client accounts
  • Respond timely and accurately to inquiries and audit requests from clients, internal and external auditors and regulators
  • Provide direction, analysis and oversite of transaction issues, positive pay, escheat and overdraft activity
  • Assist with loan accounting activities, including research and reconciliation for corporate and affiliate entities
  • Assist leadership in maintaining metrics for reconciling items
  • Lead and collaborate on team projects and initiatives
  • Develop domain knowledge of Fay's business to include an understanding of organizational goals and objectives
  • Maintain broad influence through ongoing development of relationships across the organization.
  • Ensure compliance with policies, processes, and practices.
  • Ensure audit and control processes are current and followed.
  • Attend and successfully complete all department and company-required training.
  • Role model Fay's Values, Operating Principles, ethical standards, professionalism, and code of conduct

Requirements:

  • Bachelor's degree in Finance, Accounting, or related field required
  • CPA, CMA, or 10+ years in the loan servicing profession required
  • 7+ years' financial experience in loan servicing and MSP required
  • 2+ years' experience managing people and leading teams is highly preferred
  • Strong knowledge of corporate accounting systems, cash movement, disbursement operations, and costs required
  • Solid understanding of escrow/ corporate servicing advances preferred
  • Significant mortgage investor reporting experience in agency or private portfolios preferred
  • Strong skills in MS Word, Excel, and PowerPoint
  • Strong knowledge of reporting and accounting, with record-keeping experience
  • Strong verbal and written communication skills
  • Strong interpersonal skills with the ability to develop and maintain effective relationships across the organization
  • Collaborative and consultative work style; high team-orientation
  • Effective management skills include talent selection, training, coaching, and performance management
  • Demonstrated ability to foster an environment of positive engagement and trust
  • Open to change; agile; high learning agility
  • Strong financial analytical skills coupled with sound judgment
  • Multi-tasking and prioritization to manage large volumes under tight deadlines in a fast-paced, dynamic environment
  • Strong analytical skills coupled with sound judgment
  • Strong problem-solving abilities
  • Ability to analyze and interpret data to identify opportunities and propose solutions
  • Exceptional responsiveness to clients, auditors, and regulators
  • Demonstrated ability to establish credibility for recognizing and supporting the organization's culture, values, and priorities
  • Strong project management skills
  • Strong attention to detail; strong quality and compliance orientation
  • Self-directed; ability to proactively ask questions and surface issues/ concerns
  • Professional maturity, integrity, ability to maintain confidential data and information
  • Strong business acumen; strong fiscal and technical aptitude

Equity and Inclusion:

We strive to ensure each of our employees feels valued, respected, and included and is presented with equal opportunities to be successful here at Fay.

We are proud to be an equal opportunity workplace. The Fay Group and affiliated companies participate in E-Verify. For more information go to

E-Verify is a registered trademark of the U.S. Department of Homeland Security.

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