JOB SUMMARY: The Associate is primarily responsible for the daily and monthly reconciliation of loan positions and cash for the Partner Finance division's portfolio of purchased consumer loans, supporting the internal reporting for internal stakeholders and for maintaining the shadow accounting records and recurring reports that management, Finance and the Bank's oversight committees rely on. This role works with large, loan-level data sets from third-party servicers every day and serves as the first line of control over the accuracy of the portfolio's balances, cash and reported returns.
DUTIES AND RESPONSIBILITIES:- Work with large amounts of loan-level data on a regular basis, including daily and monthly files from third-party servicers and loan sellers covering thousands of loans and dozens of data fields, and be comfortable validating, organizing and reconciling it
- Perform the daily reconciliation of position and cash: confirm that each loan's balance rolls forward correctly to the cent, and that cash received matches expected collections net of servicing fees, recoveries and other adjustments
- Investigate and resolve reconciliation breaks with servicers, including returned payments and payment reversals, status changes without matching cash, loans removed without a payoff or charge-off, charge-off reversals and repurchases; document each exception and its resolution
- Perform the monthly reconciliation and close of the portfolio, producing the monthly loan-level record, delinquency roll reports, and charge-off, recovery, settlement and modification detail
- Maintain the division's shadow accounting records for purchased loans, including interest accrual and nonaccrual treatment, premium and discount amortization, charge-offs, recoveries and the allowance for credit losses; reconcile these records to the Bank's general ledger and explain any variances
- Prepare portfolio management and accounting reporting for reviews on a regular basis, including portfolio returns against the division's accounting return targets and actual performance against forecast
- Support the settlement of new loan pool and forward flow purchases, including closing statements, purchase price and accrued interest true-ups, and opening accounting entries
- Assist in the gathering, preparation and maintenance of required reports for internal stakeholders, such as Compliance, Risk, Credit and management committees, including servicer performance, delinquency and loss trends, and program limits
- Communicate with servicers, loan sellers, Bank Finance and Treasury regularly for both data gathering and relationship building
- Document, standardize and automate recurring reconciliation and reporting processes, including through the use of data and AI tools, so that they are repeatable and auditable
- Assist the division President with ad hoc, portfolio management and internal reporting requests
- Perform other duties as assigned
QUALIFICATIONS:- Associate's Degree required; Bachelor's Degree with a focus on accounting, finance, economics or another quantitative field preferred
- Minimum of 2 years of experience in a bank controllership, legal entity control, product control, fund accounting, loan operations, bank finance or accounting, public accounting (audit), and/or structured finance reporting role required
- CPA or CPA candidate preferred; CAIA a plus
- Experience accounting for loan portfolios at a bank, investment fund or loan trading desk preferred
- Working knowledge of loan accounting, including loan balance roll-forwards, interest accrual and nonaccrual, and premium and discount amortization
- Familiarity with bank regulatory or financial reporting a plus
- Familiarity with consumer loan concepts such as delinquency status, charge-offs, recoveries, settlements and modifications preferred
- Advanced Excel skills, including lookups, pivot tables and reconciling data sets of 10,000+ rows; proficiency with Microsoft Office tools (Outlook, Word, PowerPoint, Excel)
- Experience with SQL, Python or similar data tools a plus
- Comfortable with technology, including LLMs and other AI tools, and with verifying their output
- Acute attention to detail; not satisfied until balances and cash tie out, and raises breaks early rather than working around them
- Verifies figures at the source rather than relying on prior reports or third-party data
- Curious; wants to understand why a number changed, not only that it changed
- Self-motivated, self-directed and diligent; confirms the request, then takes ownership through completion
- Excellent verbal, written, and interpersonal communication skills; works effectively with internal teams and external counterparties
- Writes clearly and plainly, reporting facts without overstatement
- Strong organizational and time management skills; able to meet daily and month-end deadlines
- Can work independently and within a team; solution-oriented with a collaborative approach
$85,000 - $100,000 a year
The pay range for this position is above. The specific rate will depend on the successful candidate's qualifications and prior experience $85,000 (entry level qualifications) to $100,000 (highly experienced).
POSITION REQUIREMENTS: We are committed to creating an inclusive workplace where all employees are capable of performing their job position. Work is primarily conducted in an office setting while certain positions may allow for remote work through the use of technology at management discretion. The functions described below are representative of those to successfully perform duties of this job. Reasonable accommodations may be made to enable employees to perform the essential functions. While performing duties of this job, the employee may be regularly required for extended periods of time to:
• Remain in a stationary position
• Use hands and fingers
• Utilize a computer monitor with visual acuity
• Operate technology or other office machinery such as printers, scanners, etc.
• Communicate clearly verbally and/or in writing with others
ADDITIONAL DUTIES: For Forbright Bank to remain efficient and nimble as a growing organization, team members are expected to exhibit a high level of flexibility regarding any duties that may be situationally assigned outside of this job description.
PERKS/BENEFITS:• Comprehensive health, dental, and vision plans
• 4 weeks PTO
• 401k + company match
• Metro SmartTrip benefits ($50/mo)
• Remote or hybrid (4 days per week in-office) work schedules for most positions
• Incentives for purchasing solar panels, electric vehicles, biking to work, etc.
• Paid subscriptions to Veterans Compost, Capital Bikeshare, Imperfect Foods reimbursement, and more!
