Loan Portfolio Accountant

United Financial Bancorp
Oct 06, 2017
Oct 23, 2017
Employer Type
Direct Employer
Employment Type
Full Time
United Bank is seeking a Loan Portfolio Accountant to join our Consumer Lending and Residential Mortgage Teams. Under the direction of the AVP-Director of Consumer Portfolio Investor Accounting, incumbent will assist in the direction and management of day to day accounting matters regarding the activities and oversight of all acquired loan portfolios, general portfolio accounting systems and internal management information. Serve as United Bank's primary individual responsible for updating and maintaining the Precision LM System. Assist in the direction and maintenance of portfolio accounting functions on a regular basis to meet the requirements of the Finance, Credit and Portfolio Management teams.


* Update and maintain the Precision LM System monthly/as needed. Monitor the file uploads provided by servicers and ensure complete accuracy; correct any and all errors/edits.

* Process interest accruals, monthly charge-off and recovery transactions in the Precision LM System; process loan type, accrual status and all other maintenance changes as required in the Precision LM System.

* Recognize and update loan status changes. Update the accrual status and the loan rating to match with company policy and regulatory guidance.

* Create/run monthly/as needed reports in the Precision LM System; prepare monthly reconciliations for all loan related accounts maintained in the Precision LM system.

* Assist in the administration, maintenance, and supervision of, on a continuous basis, portfolio accounting functions to meet the requirements of the Finance, Credit and Portfolio Management teams to assure all financial information on acquired loan portfolios is available, accurate and timely to effect reporting to SEC, FDIC, the Board of Directors and Management.

* Prepare statistical reports and other reports needed by finance, credit and executive management.

* Assure all general ledger entries on acquired loan portfolios are reviewed for accuracy and accounting rules.

* Partner with the Director of Consumer Portfolio Investor Accounting, Controller, Director of Accounting and Director of Tax and Accounting Policy to implement new acquired loan portfolio accounting standards and to make enhancements/efficiencies to current processes and procedures.

* Assist other loan servicing teams with their internal accounting issues and reconciliations.

* Update old systems/procedures and design and implement new systems for external and internal reporting for continual improvement of the effectiveness and efficiency of acquired loan portfolios and loan servicing.

* Assist with analytical studies of all operational reports on all acquired and serviced loan portfolios and present significant factors with Lending and Servicing Management, Controller and the Director of Accounting.

* Monitor the accuracy of the loan servicing reconciliation processes and immediately advise managers of discrepancies.

* Assist in the training and development of employees in the Portfolio Investor Accounting Department.

* Assist with Financial Reporting acquired loan portfolio schedules as needed by the Financial Reporting Group as well as assist the Controller and Director of Accounting in preparation of annual budget information and in meeting requests from the external auditors.

* Continuously study ways to better organize the Portfolio Investor Accounting group to be more effective; study new accounting programs for implementation; be a resource for SOX documentation and design. Continuously evaluate the performance of the group for efficiency.

* Perform all other assignments as requested by Executive or Senior Management.

* Keep abreast of all areas of responsibility by reading trade magazines and publications and attending relevant seminars and continuing education courses.

* Provide month end department reports to various departments as needed.

* Work on special projects as needed.


All employees are subject to the requirements of the United Bank BSA Program. An employee's role with United Bank determines which parts of the program apply. However, all employees are responsible for reporting suspicious activity identified in the course of their work, and all employees are responsible for the timely completion of mandatory compliance training assigned, such as BSA and OFAC.

The above duties may not be all-inclusive. The incumbent may be asked or required to perform other work as time and abilities allow.


Judgment: Work is performed under the general supervision of the Assistant Vice President, Director of Portfolio Investor Accounting however, judgment is required to ensure tasks are performed in accordance with Bank policies and governmental or authoritative guidance.

Complexity: Accounting work is based off technical interpretations of regulations and authoritative guidance. Often judgment in application of regulations is required. Accounting work requires a general understanding of the accounting provisions with regards to various Bank assets and liabilities and requires an ability to interpret and apply general guidance to specific issues.

Impact of Errors: Errors, both in terms of judgment and technical aspects of the position, may be difficult to detect and may result in loss of business through failure to deliver efficient and quality service, as well as failure to achieve performance goals, financial loss on acquired portfolios and could adversely affect the Bank's image.

Interpersonal Relationships: Work involves frequent contact with internal and external "customers" of the bank including employees, investors, shareholders, vendors, and consultants. A high degree of interpersonal skills are required.

Supervisory Responsibilities: There are no direct supervisory responsibilities.


Education: 4 year degree required in Accounting or Finance degree. Loan Accounting experience is preferred.

Experience: A minimum of 3-5 years accounting experience required. Some experience with SOP 03-3 and some bank related financial accounting is preferred. Must have excellent communication and analytical skills. Must be highly proficient in Excel and have an understanding of database software and how it functions. Need to be familiar with ASC 310 and ASC 450 reserve calculations

Knowledge, Abilities, and Skills: Must have demonstrated a hands-on approach and success in working in a team-based environment. US GAAP skills are required and strong analytical and project management skills. Effective interpersonal, verbal and written communications skills required. Strong ability to use computer software programs (email, word processing, spread sheet and project management). Ability to work in a diverse work environment is necessary.

Physical Requirements: Mobility to travel to Servicer Locations. Ability to stand or sit for extended periods. Ability to communicate clearly and concisely.

Desirable Qualifications:

* Loan Accounting experience preferred.

* Bank experience is desirable.

* Loan System applications experience is preferred.

* Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities.

* Please view Equal Employment Opportunity Posters provided by OFCCP here.

* The contractor will not discharge or in any other manner discriminate against employees or applicants because they have inquired about, discussed, or disclosed their own pay or the pay of another employee or applicant. However, employees who have access to the compensation information of other employees or applicants as a part of their essential job functions cannot disclose the pay of other employees or applicants to individuals who do not otherwise have access to compensation information, unless the disclosure is (a) in response to a formal complaint or charge, (b) in furtherance of an investigation, proceeding, hearing, or action, including an investigation conducted by the employer, or (c) consistent with the contractor's legal duty to furnish information. 41 CFR 60-1.35(c)

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