Overview
To supervise and control the functions of Navy Federal's Mortgage Servicing Reconciliation section to ensure they are accurately and completely maintained in accordance with Generally Accepted Accounting Principles (GAAP). Supervise and monitor the maintenance, balancing, and reconciliation process for the general ledger (GL) and subsidiary ledger accounts. Oversee the reconciliation of the daily mortgage activity reports and work with Mortgage Servicing staff regarding outstanding issues, including discrepancies.
Responsibilities
Supervise and plan section functions related to reconciling at the loan level all Real Estate Lending (REL) Mortgage Servicing-Reconciliation General Ledger, such as application fees, corporate advances, VA funding fees, bad checks, negative CDVs, aging suspense accounts, and transitory accounts
Monitor processes to ensure reconciling items are correct, supported by proper documentation, and are cleared in a timely manner
Identify source of errors/discrepancies; research and analyzes data for errors/discrepancies above specific thresholds, document reconciliation issues for resolution/corrective action
Establish qualitative and quantitative measures to meet compliance goals and expectations
Analyze workflow, procedures and practices; make recommendations/implement corrective action to improve quality and/or efficiency
Collaborate with other REL staff and other NFCU staff to research, analyze and resolve account related discrepancies
Ensure resolution of a range of escalated discrepancies and appropriate response to inquiries through collaboration with various internal contacts across the organization
Analyze, develop, document, and monitor accounting systems and procedures for account reconciliations to ensure compliance with generally accepted accounting principles (GAAP) and regulatory accounting principles (RAP)
Ensure operations meet Automated Clearing House (ACH) rules and regulations, investor guidelines, state and federal regulations and Navy Federal policies and procedures
Act as liaison for, FNMA, FHLMC, VA, FHA, CFPB, PWC, NCUA and other regulatory audits, responding to audit requests in support of other business units as well as Mortgage and Equity Servicing
Perform supervisory/managerial responsibilities
Ensure adequate/skilled staffing; select employees
Establish performance goals and priorities
Prepare, conduct and review performance appraisals
Develop, mentor and counsel staff
Ensure section/branch goals and objectives align with division/department strategy
Ensure efficiency of operations
Leadership Level - Supervise daily activities
Perform other duties as assigned
Qualifications
Working knowledge regarding mortgage industry regulations such as Regulation X, Regulation Z and TRID and investor guidelines/requirements of Fannie Mae, Freddie Mac, Ginnie Mae, FHA, VA, HUD, etc.
Experience in progressively responsible positions which reflect the ability to lead a multi-function operation
Progressively responsible experience which demonstrates a thorough knowledge of management practices, accounting principles, practices, laws and regulations preferably in a corporate/financial environment
Experience in supervising and leading employees
Advanced skill in exercising initiative and using good judgment to make sound decisions
Advanced skill interacting tactfully and effectively in difficult situations
Advanced organizational, planning, time management, and problem solving skills
Effective experience applying techniques used in analyzing and reporting financial information
Advanced verbal and written communication skills
Effective database and presentation software skills
Effective word processing and spreadsheet software skills
Extensive accounting related experience, preferably in a financial institution, which includes reconciliation and adjustments
Significant skill in applying accounting techniques related to posting and balancing accounts and the management of general ledgers
Experience which demonstrates a working knowledge of automated financial systems, BI systems, and reporting applications, such as PeopleSoft, Black Knight systems, BDRW, Monarch, Analytics Agent, and an understanding of technology related to reconciling and adjusting financial accounts
Knowledge of Federal Reserve and state regulatory requirements
Advanced knowledge of the techniques and systems used in the management, analysis and reporting of financial information
Desired Qualification(s)
Certified Public Accountant
Institute of Management Accounting Certification
Bachelor's Degree in Business, Finance or related field or equivalent education/experience
Knowledge of Navy Federal objectives, policies & procedures, organizational and functional relationships
Hours: Monday - Friday, 7:00AM - 3:30PM
Location: 820 Follin Ln, Vienna, VA 22180
About Us
You have goals, dreams, hobbies, and things you're passionate about-what's important to you is important to us. We're looking for people who not only want to do meaningful, challenging work, keep their skills sharp and move ahead, but who also take time for the things that matter to them-friends, family, and passions. And we're looking for team members who are passionate about our mission-making a difference in military members' and their families' lives. Together, we can make it happen. Don't take our word for it:
- Military Times 2022 Best for Vets Employers
- WayUp Top 100 Internship Programs
- ForbesR 2022 The Best Employers for New Grads
- Fortune Best Workplaces for Women
- Fortune 100 Best Companies to Work ForR
- ComputerworldR Best Places to Work in IT
- Ripplematch Campus Forward Award - Excellence in Early Career Hiring
- Fortune Best Place to Work for Financial and Insurance Services
Equal Employment Opportunity: Navy Federal values, celebrates, and enacts diversity in the workplace. Navy Federal takes affirmative action to employ and advance in employment qualified individuals with disabilities, disabled veterans, Armed Forces service medal veterans, recently separated veterans, and other protected veterans. EOE/AA/M/F/Veteran/Disability EOE/AA/M/F/Veteran/Disability
Disclaimers: Navy Federal reserves the right to fill this role at a higher/lower grade level based on business need. An assessment may be required to compete for this position. Job postings are subject to close early or extend out longer than the anticipated closing date at the hiring team's discretion based on qualified applicant volume. Navy Federal Credit Union assesses market data to establish salary ranges that enable us to remain competitive. You are paid within the salary range, based on your experience, location and market position
Bank Secrecy Act: Remains cognizant of and adheres to Navy Federal policies and procedures, and regulations pertaining to the Bank Secrecy Act.
REQNUMBER: 14997
