THE COMPANY Fannie Mae is a shareholder-owned company with a public mission. We exist to expand afffordable housing and bring global capital to local communities in order to serve the U.S. housing market. Fannie Mae has a federal charter and operates in America's secondary market to ensure that mortgage bankers and other lenders have enough funds to lend to home buyers at low rates. In 2008, we mark our 70th year of service to America's housing market. Our job is to help those who house America. For more information about Fannie Mae and our career opportunities, please visit www.fanniemae.com
This is a senior-level professional position that could lead to potential career growth in accounting, loan servicing, or various mortgage/operation-related fields for the selected candidate. The Accounting Manager position reports to a Director. The Accounting Manager should be able to interact with managers and staff members at every level of the company. The Accounting Manager within the Single Family Operations Accounting group is responsible for understanding the overall process of the organization and the accounting implications and accounting transactions for Acquisitions, Servicing, and Disclosure operations, as well as the downstream impact to other financial groups. The Accounting Manager is expected to own, analyze, reconcile, and explain Balance Sheet and Income Statement accounts. The Accounting Manager is also responsible for specific processes targeted to enhance and improve the current transaction recording cycle/process. The position requires a self-starter individual with very strong understanding of accounting. The position leads a team; management skills with the ability to coach and motivate team to success, as well as, outstanding written and oral communication skills are required.
Review monthly reconciliations of assigned accounts by reviewing with preparer any difference findings in the account and ensuring that there is resolution for the following month.
Manage month end process related to loan acquisitions including review and tie out of cash reports sourced from various systems. Sign off on monthly journal entry to have business analyst load to the general ledger.
Manage month end process related to Risk Based Pricing. Ensure all loan level pricing adjustments that were process during the month including the Out of Cycle Adjustments. Prepare journal entry to record all the transactions that have not been previously recorded through the automated journal entry process by PSS.
Manage month end process related to Restricted Cash.
Lead the quarter end process related to FIN 39 loans working with the PSS and RSS teams and prepare journal entry to record the appropriate receivable and payable to the general ledger.
Manage month end process related to Cash Allocation System. Review the reports for completeness and compare to prior month findings to determine accuracy of reports. Review the automated journal entry for completeness against the reports. Ensure all estimates are accounted for and posted to the appropriate accounts and conduct variance analysis to refine estimates every month.
Work closely with acquisitions staff (loan acquisitions/pricing team) to understand daily/monthly transactions. Ensure that any special deals/purchasing issues/special funding events are accounted for on a monthly basis through appropriate journal entries.
Work with downstream teams (GFAS, Whole Loan) to ensure monthly results are reasonable and variances are researched and explained.
Effectively monitor key controls associated with SOX requirements. Adhere to compliance expectations and ensure operational discipline through daily review of cash reconciliation and review of monthly journal entries.
Work with direct reports to improve skills and enable direct reports to have and provide honesty and open communication.
Skills
Bachelor's degree in accounting or finance - CPA required.
Prior accounting experience required.
6-10 years of business experience in a similar position, preferably in the financial services industry.
Strong analytical and problem solving skills, with the ability to provide sound recommendations to management
Exceptional communication skills - written and verbal. Must be able to communicate ideas and defend points of view clearly and succinctly. Be able and willing to teach.
Strong expertise in Excel and adeptness with other MS office tools.
Ability to manage multiple priorities and effectively manage customer expectations/deliverables.
Ability to manage and develop team
Experience with and understanding of financial statements, including experience in analyzing financial statements and corporate results
Think out-of-the box, have the desire to make things better, and a desire to learn.
Must effectively plan work and set priorities - must demonstrate strong project management skills, an ability to maintain focus on critical priorities, multi-task and effectively manage multiple deadlines and stressful situations, be flexible in priority setting, responsive to needs of internal stakeholders and customers.
Demonstrates ability to establish and maintain effective working relationships with team members and internal/external stakeholders, listen to team members, recognize and value the expertise of others, support and be accountable for team decisions.
Practical knowledge of SOX - strong understanding of controls and risk management.
Flexibility to work additional hours on an as needed basis to meet deadlines
COMPENSATION Fannie Mae's compensation and benefits package is very competitive. It is designed to help employees meet varying needs throughout their careers and to reward employee's skills, experience, and potential. Fannie Mae is an equal employment opportunity employer and considers qualified applicants for employment without regard to race, gender, age, color, religion, national origin, marital status, disability, sexual orientation, or any other protected factor. As a condition of employment with Fannie Mae, any successful job applicant will be required to pass a pre-employment drug screen and to successfully complete a background investigation, which may also include a credit check if the position is sensitive in nature.
