The Financial Reconciliations Manager will lead, supervise and direct all daily activities of the Loan Servicing Financial GL Reconciliation area, which is responsible for the management, preparation and reconciliation of all Commercial, Consumer and Residential Mortgage general ledger accounts across the Bank. This area maintains over 5000 General Ledger accounts in various cost centers. This position is responsible for creating and or updating policies and procedures for the financial and reconciliation area, implementing process improvements and consolidation of reconciliations and reporting for better efficiencies, as applicable. Also provides direction and training to staff and managers. Responsible for interfacing with Accounting, Finance, Internal and External Auditors, and the Lines of Business to ensure timely and accurate reconciliations and financial reporting to avoid improper reconciliation for accounts which can result in either the delay of income recognition or substantial losses to
Valley. Responsibilities include, but are not limited to:
- Manage subordinates responsible for the day-to-day operations of the Financial Reconciliation team with full responsibility for loan servicing and accounting functions.
- Provide oversight, direction and training with regards to Commercial, Consumer and Residential general ledger accounts, including but not limited to GLR801 including certifications, GLR 311, MSR 900, daily reconciliations/proofs, net change, CAL settlement, interest income yield analysis, review/audit of bank checks, refund of credit balances on credit lines, LSBO outstanding, past due loans and portfolio yield for management, LSBO res mortgage portfolios, etc.
- Develop and/or update departmental operating procedures that are consistent with regulatory requirements, bank policies, and strategic objectives while seeking ways to improve operational efficiency.
- Analyze department procedures and recommend automation, consolidation, or streamlined workflows as agreed upon with management, and determine solutions based on cost efficiencies of process improvements.
- Approve performance reviews and compensation requests for the general ledger reconciliation department. Approve hires, disciplinary actions and ensure that staff is trained and developed. Develop subordinate managers to achieve development goals through mentoring, coaching, job enrichment and cross training.
- Ensure financial records and reports are timely and accurate.
- Serve as primary contact for Accounting, Compliance, Loan Operations management, Lines of Business, internal and external audit reviews and requests. Provide data, reports, and onsite support as requested for KPMG, EY, OCC, State and Federal agency requests concerning general ledger reconciliations.
- Work with Accounting and Project Management Team on implementing new systems relating to loan servicing, general ledger and financial reporting.
- Special projects as requested by Senior Management.
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