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Operational Accounting Associate III - Default Reconciliation Specialist - 3DJGE in Getzville, NY at M&T Bank

Date Posted: 7/3/2018

Job Snapshot

  • Employee Type:
  • Location:
    Getzville, NY
  • Job Type:
  • Experience:
    Not Specified
  • Date Posted:
  • Job ID:

Job Description

The Opportunity:
As part of the Customer Asset Management Residential Mortgage Default Accounting department, the incumbent will perform activities associated with the default servicing of mortgage loans for investors and bank assets.
Primary Responsibilities
-Primary functions include preparing detailed loan level final loan loss reconciliations, for various loan types to include, FHA VA, Conventional and USDA accounts.
-Research and resolve variances between escrow and corporate advance receivables and funds reimbursed from insurers, investors and vendors.
-Prepares default accounting reports for tracking of loan reconciliation losses and associated causes, inventory tracking and other reports for management.
-Prepare billing transactions for reimbursement requests to third parties.
-Prepare procedural documentation of functional and department responsibilities
-Timely processing of transactions required for final clearing of system balances and as required, daily cash received in the default departments via checks and wires, including reinstatements, payoffs, claim reimbursements, third party proceeds and vendor refunds
-Review and process invoices for payment to third parties
-Tracks and processes REO Book ins, Short Sales and charge off requests to Mortgage Accounting
-Reconciles and monitors default related general ledger accounts
-Verify accuracy of documents
-Performs other assignments/projects as requested by management
-Performs various accounting transactions, as required
-Overtime as required
Minimum Qualifications Required: 
Associate's Degree or or in lieu of degree two years (2) relevant experience required
Minimum two years’ collection and/or loss mitigation experience
One or two years’ post charge off collections, repossession, remarketing, REO, foreclosure, loss mitigation or bankruptcy experience.
Strong time management and organizational skills
Proven ability to manage priorities to meet multiple changing objectives and deadlines
Proficient in Microsoft Word and Excel Spreadsheets
Demonstrated ability to gather and research data to prepare routine financial accounting reports
Demonstrated advanced analytical and problem solving skills
Proven ability to work accurately under time constraints
Ideal Qualifications Preferred:
Bachelor's Degree
Default Mortgage Servicing Experience
One year accounting or Finance experience
Mortgage servicing experience, including investor, FHA, VA and private insurance agency's regulations and guidelines
Experience with BKFS/LPS/CPI mortgage servicing system
Knowledge of FCS and VIEWPO mainframe applications

About M&T:
At M&T, we strive to be the best place our employees ever work, the best bank our customers ever do business with and the best investment our shareholders ever make. So when looking to advance your career, look to M&T.  As a top 20 US bank holding company and one of the best performing regional banks in the country, we offer a wide range of performance based career development opportunities for talented professionals. And through our longstanding tradition of careful, conservative and consistent management and a strong commitment to the communities we serve, we continue to grow with a focus on the future. 

M&T Bank Corporation is an Equal Opportunity/Affirmative Action Employer.
M&T Bank Corporation does not sponsor individuals for the purpose of obtaining H-1 Visas.
M&T Bank Corporation has policies and procedures in place to promote a drug free workplace.