Invictus Capital Partners / Verus Mortgage Capital

Loan Accounting Manager Job at Invictus Capital Partners / Verus Mortgage Capita

Invictus Capital Partners / Verus Mortgage Capital, Bloomington, MN, United States

Job Description

Description

The Loan Accounting Manager will be responsible for ensuring accurate books and records and financial reporting for a held-for-sale mortgage loan portfolio. This will include reconciliation between the Verus loan funding activities and the Invictus fund accounting records for our private credit investment funds or whole loan sales to investors. This role involves leveraging financial reporting and accounting expertise to reconcile cash movements, prepare financial reports and financial forecasts, review accounting entries, and coordinate with external auditors. The Loan Accounting Manager will serve as a key liaison between the loan funding wholesale and correspondent teams, corporate and fund accounting teams, and any external stakeholders. This role will prepare monthly, quarterly and annual reporting to senior management of the company. This position will be onsite in our Washington DC or Bloomington, MN office full time.

Responsibilities and Duties:

Prepare and review financial statements, ensuring accuracy and compliance with relevant accounting standards and company policies.
Oversee and review the work of third-party loan accounting firm.
Reconcile cash movements and financial transactions between the loan funding team and the investment funds and/or other investors.
Collaborate with fund accounting teams to ensure proper allocation and tracking of cash across multiple funds and/or other investors.
Liaise with external auditors to facilitate audits, provide documentation, and ensure transparency in financial reporting.
Review and approve journal entries related to funding adjustments, ensuring accurate recording in the general ledger.
Monitor and analyze discrepancies in cash reconciliation, taking prompt action to resolve issues.
Prepare and present regular financial reports, including liquidity, balance sheet & P&L forecasts, and variance analyses to senior management.
Develop and maintain internal controls and processes to ensure the accuracy of cash flow reporting and loan accounting.
Support special projects related to financial reporting, process improvements, and audit readiness.

Education and Experience:

Bachelor’s degree in accounting, finance, or a related field; CPA preferred.
5+ years of experience in financial reporting, accounting, with similar experience in mortgage loan accounting.
Knowledge or experience in private credit or investment funds is a bonus.
Strong knowledge of accounting standards (GAAP/IFRS) and audit processes.
Strong financial reporting and accounting skills, particularly in loan accounting and cash reconciliation.
Expertise in working with residential mortgage loans (originations, purchasing, and funding), financial audits, and external stakeholders.
Ability to analyze financial data and resolve discrepancies in a timely and accurate manner.
Ability to review accounting processes, policies and actively recommend automation of tools to enhance or eliminate manual processes.
Excellent communication and collaboration skills for working across internal departments and with external auditors.
High level of attention to detail, accuracy, and accountability.
Advanced Excel skills and familiarity with accounting systems and financial reporting tools/software.

Benefits

Great compensation package
Attractive benefits plans and paid time off
401(k) w/ company matching
Professional learning and development opportunities
And much more!

Successful applicants will exemplify strong ethics, integrity, respect for others, accountability for decisions and actions, and good citizenship.

Maintaining a reliable, uninterrupted high speed internet connection is a requirement of hybrid or remote positions.

All job duties and responsibilities must be performed within the guidelines of the Verus Residential Mortgage Employee Handbook and established company policies and procedures. It is the responsibility of each employee to maintain confidentiality of the company, its clients and to follow applicable laws and regulations in the performance of duties.

Verus Mortgage Capital is an equal opportunity employer. All qualified applicants are welcomed to apply and will receive consideration for employment without unlawful discrimination because of a person’s race, religious creed, color, national origin, citizenship status, ancestry, marital status, sex, age, or sexual orientation, or because of a person’s disability or medical condition.