loanDepot

Manager, Accounting

loanDepot • $108K — $148K *
Irvine, CA 92620In-Person
Legal & Accounting
5 - 7 years of experience
Today
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Job Overview by Ladders

Qualifications

  • Bachelor's Degree preferred.
  • 5+ years of experience in a similar role.
  • Experience in the Mortgage industry highly preferred.
  • 3+ years of management experience preferred.
  • Proficiency with AMB, Servicing System, and Oracle required.
  • Hybrid schedule based out of Irvine, CA.

Responsibilities

  • Supervise and manage a team of loan accountants with training and performance evaluations.
  • Review and approve journal entries related to loan activities for compliance.
  • Monitor weekly bank trust reconciliations to meet regulatory standards.
  • Oversee monthly and quarterly reconciliation of loan accounts for accuracy.
  • Coordinate preparation of loan reports for internal stakeholders and auditors.
  • Manage internal controls ensuring integrity of loan accounting activities.
  • Liaise with Treasury and Operations teams for loan-related cash activities.
  • Lead process improvement initiatives in loan accounting operations.

Benefits

  • Fosters a collaborative work environment with opportunities for team development.
  • Supports continuous improvement initiatives for increased efficiency.
  • Offers a comprehensive approach to ensuring compliance with regulations.
  • Encourages involvement in diverse projects beyond standard responsibilities.
Full Job Description
Description

Position Summary:

Responsible for supervisory level duties overseeing the accounting of loan-related duties to support the Loan Accounting team. Assists in maintaining the accuracy and integrity of the general ledger, control and compliance with company policies and procedures, and all regulatory requirements. Assists business partners with day-to-day operational activities and research and interprets discrepancies to determine proper recording of revenue and expenses. Ensures the performance of all duties in accordance with the company's policies and procedures, all U.S. state and federal laws and regulations, wherein the company operates.

Responsibilities:

  • Supervise and manage a team of loan accountants, providing direction, training, and performance evaluations.Review and approve journal entries related to loan activities, ensuring compliance with internal controls and accounting standards.
  • Monitors and reviews weekly bank trust reconciliations to ensure compliance with regulatory requirements and industry standards.
  • Oversee monthly and quarterly reconciliations of loan accounts, ensuring accuracy and alignment between the general ledger and subsidiary loan accounts, Warehouse Facilities.
  • Coordinate the preparation of loan reports such as Loan Held for Sale Rollforward for internal stakeholders and auditors.
  • Oversee internal controls by managing the policies, procedures, and systems that ensure the integrity of loan-related accounting activities, while safeguarding the company's financial assets.
  • Liaise with the Treasury and Operations teams to ensure proper management of loan-related cash activities, including repayments and funding requirements.
  • Assists in month-end financial close.
  • Lead initiatives to improve accounting processes and workflows, focusing on increasing efficiency, reducing errors, and streamlining loan accounting operations.Foster a collaborative work environment, encouraging continuous improvement and development of team members.
  • Performs other duties and projects as assigned.


Requirements

  • Bachelor's Degree preferred and a minimum of five (5) + years' experience working in a similar field.
  • Experience in the Mortgage industry highly preferred.
  • Minimum three (3) + years of management experience preferred.
  • Experience with AMB, Servicing System, and Oracle required.
  • This role requires a hybrid schedule based out of Irvine, CA.


Base pay is one part of our total compensation package and is determined within a range. This provides the opportunity to progress as you grow and develop within a role. The base pay for this role is between $108.000 and $148,500. Your base pay will depend on multiple individualized factors, including your job-related knowledge/skills, qualifications, experience, and market location.

About loanDepot

LoanDepot, sometimes stylized as loanDepot, is a Lake Forest, California-based holding company which sells mortgage and non-mortgage lending products. In 2015, the company claimed to be the second largest non-bank provider of direct-to-consumer loans in the United States. LoanDepot was founded in 2010 by entrepreneur Anthony Hsieh, who had previously founded mortgage companies LoansDirect.com which he sold to E*Trade, and HomeLoanCenter.com, which he sold to LendingTree. The company's products at the time included fixed rate, jumbo, FHA and home equity loans, in addition to more controversial adjustable-rate mortgages and negative amortization products. In November 2015, the company postponed a planned IPO, citing poor market conditions. In March 2017, the company introduced technology to automate the loan process, allowing customers to apply for a mortgage without talking to a loan officer. In January 2018, the company announced two products as part of its technology platform, now called Mello, a home improvement unit to allow contractors to offer financing to customers, and Mello Home, a platform to connect pre-approved buyers to realtors. In September 2019, the company partnered with Century 21 Redwood Realty to form a new mortgage platform for the mid-Atlantic area, Day 1 Mortgage. loanDepot went public on the New York Stock Exchange on February 11, 2021 under the ticker symbol LDI.
Learn more about loanDepot
Market Cap
$453.5 million
Industry
Finance & Insurance
Founded
2010
5 Year Trend
+26.8%
NASDAQ
LDI
* Ladders Estimates

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