Job Description

Job Description

Job Description

The position of Cash Manager duties and responsibilities are to ensure the management, quality, accuracy, and timely processing and reporting of all cash and associated accounting transactions of the Department of Housing and Urban Development (HUD) nationwide Home Equity Conversion Mortgage (HECM) loan portfolio. The Cash Manager is responsible for implementing quality standards and ensuring that all deliverables are met in accordance with the established contract AQLs and performance standards. The Cash Manager must be knowledgeable in OMB Circular A-123 Internal Controls, and Generally Accepted Accounting Principles (GAAP) and Generally Accepted Audit Standards (GAAS). Additionally, strong Cash Management, Customer Service, Mortgage Banking, and accounting expertise is preferred.

Oversight Responsibilities include:

· Management of Loan Conversions, to include daily electronic boarding, and validation of all initial 2nd Trust Partial Claims from HUD’s Claims Processing system.

· Reconciliation of all loan asset sale transactions based on settlement log received from NSC as a result of loan sales

· Validation of all new compliance and direct loans in support of the Good Neighbor Next Door, ACA, and other direct loan programs

· Validation invalid checks, posting valid checks, to the accurate account and complying with payment application requirements

· Reconciliation of funds transmitted to the Treasury Department via the OTCnet remote deposit service

· Validation of QC and issued payoff requests for all Portfolios.

· Monthly by the 2nd business day, validate, process, print and reconcile all HECM scheduled payments and transmit ACH file to disbursing bank

· Receive from servicing, validate supporting documentation, confirm program compliance, of all unscheduled disbursement requests for HECM loans

· Receive approved invoices for property inspections, legal fees, taxes, insurance, loss draft and other payments, validate supporting documentation, verify funds available, post disbursement, print, package and mail payments

· Manage daily funding process to assess the amount of funds required to cover cleared items, request and monitor advance of funds

· Manage the issuance of Cashier’s checks for required disbursements to include transfer of funds and purchase of Cashier’s checks at bank

· Manage the daily processing of disbursements through the Treasury SPS, to include daily budget obligation to FHASL, SPS disbursement file, and transmittals to HUD Cash Management and monthly reconciliation of cleared, voided and returned checks

· For all loan payoffs, validate, loan packages and deliver Mortgage Release Authorization and supporting documentation package to the Lien Release Department.

· Oversee collection registers for review.

· Oversee Daily HUD funding request for reimbursement of the Controlled Disbursement Accounts; forwarded to Cash Manager for review

· Daily, weekly and monthly by the 5th business day, prepare a full reconciliation of all cash activity, between Treasury, Bank, Servicing System, and HUD’s General Ledger and Cash Reporting System.

· Log, track, research and clear all reconciling items within 30 days.

· Oversee 557 Cash Transfers, for intra-agency transfer of funds, send to counter party, verify clearance, post to servicing system and reconcile all transactions

· On the last day of each month, assist with the month-end close process, calculation and posting of accruals, scheduled payments and other month-end accounting transactions and prepare twenty plus monthly deliverable reports.

· By the 2nd Business Day of each month validate and reconcile all monthly deliverable reports, package and deliver to HUD GTR, NSC and the General Ledger Division.

· Perform Quality Control of all transactions processed in both systems to include validation of supporting documentation, posting, data completeness, policy and regulation compliance and record all discrepancies, complete corrections, research root cause, create, track, and remediate all control weaknesses through corrective action plans.

· Quarterly review all HUD QC findings reports for Cash Management and Accounting, research root cause, prepare corrective action plans, implement, and remediate control weaknesses.

· Maintain, update, and train all staff on comprehensive transaction processing policies and procedures, provide reinforcement and work with auditors to ensure all control and compliance documents are up-to-date, accurate, and fully implemented and followed by staff.

· Record, monitor, report, and manage Cash Management Key Performance Indicators (KPI) to include accuracy, timeliness, QC, and staff performance and work with management to expand or right-size staff.

· Monitor, report, counsel, reinforce training, and replace staff not meeting performance standards.

· Manage incoming/outgoing mail all required documentation to the servicing system, file, organize and deliver all hardcopy documents to offsite storage per contract policy. related to the Department

· Ensuring that the sample for audit of transactions is a representative of the population.

Skills and Qualifications:

· Ability to clearly communicate verbally and in writing, internally and externally

· Knowledge of all cash management and accounting related industry standard processing of loan conversions, accounts payable, accounts receivable, escrow, general ledger accounting and reporting

· Ability to analyze accounting reports

· Thorough knowledge of accounting methodologies, federal fund accounting and transactions processing

· Knowledge of loan servicing and industry standard practices, business processes and controls

· Microsoft Office proficiency with extensive Excel analytical and problem-solving skills

· Ability to follow instructions and established procedures

· Ability to multi task and meet established deadlines.

Education and Experience:

· Bachelor’s degree, in Business or related field

· Minimum of three (3) years Mortgage Servicing Related Accounting experience, Certified Public Accountant (CPA) license and experience with Cash Management Regulations including Credit Reform. Experience must have been acquired within the last four (4) years.

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