What are the responsibilities and job description for the Payment Processing Specialist position at Vanderbilt Mortgage?
Position Title: Payment Processing Specialist (Non- LO- No Consumer Contact)
Job Status: Full-Time/ Hourly
Reports to: Accounts Receivable & Mortgage Insurance Supervisor
Department: Accounting & Finance
Amount of Travel: None
Pay: The expected hiring range for this position is from $21.01 to $28.44 plus additional bonus opportunity. The stated hiring range is based on experience, qualifications, and other relevant factors. Final compensation decisions will take into account a variety of considerations, including individual skills, internal equity, and organizational needs. Application Window expected to close: May 17th, 2025.
Vanderbilt Mortgage and Finance, Inc. was established in 1974 and currently services over 150,000 loans. Our strength as an organization is rooted in the quality of our people and products. We are an equal opportunity employer committed to creating a diverse workforce. Furthermore, we're financially strong, with a reputation for leading the industry with unsurpassed products, a broad range of services and a coast-to-coast presence. And we're professionally strong, from entry level to more experienced positions, we're actively recruiting individuals who are passionate, positive, and eager to learn. As a member of our team, we will equip you for success, you'll enjoy excellent benefits, opportunities for growth and an encouraging culture that supports work/life balance.
JOB SUMMARY
The Payment Processing Specialist is responsible for analyzing and reconciling keying errors, misapplied entries, ledger analysis, and programming changes that impact general ledger accounts on existing accounts. This role reports to the Accounts Receivable and Mortgage Insurance Supervisor and supports and trains Accounts Receivable Clerks. The Payment Processing Specialist completes performance audits, prepares monthly training topics, and streamlines processes where improvements can be made.
JOB FUNCTIONS
Department Collaboration and Ad Hoc Projects
- Reviews and updates Policies and Procedures (P&P) for the Accounts Receivable (AR) team.
- Handles customer receivables, payoffs, reconciling daily accounting entries, and bank balances as needed.
- Assigns ad hoc tasks to team members.
- Completes projects involving team performance tracking, compliance and regulations, and implementation of new processes and system enhancements.
- Develops and maintains collaborative relationships inside and outside of the department.
Auditing Related to Accounts Receivable Team
- Completes monthly team member performance audit of AR Clerks’ work.
- Reviews and counsels AR Clerks on audit findings.
- Reviews previous month’s performance scorecards with AR Clerks.
- Implements monthly reports that require research and corrections by journal entry, communicating with affected departments, existing customer contact and presents results to senior management.
Training and Process Improvement
- Utilizes understanding of actuarial and simple interest amortization and the programming involved with payment application for training the AR team.
- Prepares and presents monthly training topics to AR team.
- Trains AR Clerks on primary responsibilities and provides examples for team members to follow.
- Assists and guides AR Clerks on problem solving techniques and makes recommendations for actions to take in research process.
- Acts as first point of contact when AR Clerks need assistance with discrepancies and analyses.
- Serves as back up for supervisors when needed.
- Streamlines processes where improvements can be made.
Monitoring and Reconciling Payable and Receivable Accounts
- Monitors and reconciles assigned general ledger accounts and escalates/reports findings to leadership.
- Generates journal entries for reconciling items in a timely manner.
- Collaborates with Accounting to research and resolve outages.
- Presents schedules to leadership quarterly.
Other duties as assigned
This job description is not an exhaustive list of all the functions that a team member and other duties may be assigned.
QUALIFICATIONS:
- Education: High School Diploma or equivalent required, college a plus
- Experience: One year of related job experience preferred
- Experience: Accounting, bookkeeping, or reconciliation experience a plus
- Proficient in Microsoft Office, specifically Excel
- Querying skills, knowledge of Sequel ViewPoint, Enterprise Data Warehouse (EDW), AS400 a plus
- Experience with regulations regarding loan servicing a plus
- Excellent communication, research, and problem-solving skills
- Great attention to detail, organizational skills, and time management
- Ability to work in a team environment and also work independently
- Demonstrates leadership qualities
- Self-starter and ability to prioritize
- Open to receive and implement feedback
- Sense of urgency and ability to follow up
PHYSICAL DEMANDS:
- Must be able to remain in a stationary position 75% of the time.
- Will be operating a computer and other office productivity machinery, such as a telephone, calculator, copy machine, and computer printer.
- Must be comfortable with various forms of communication including but not limited to email, Teams, over the phone, and Zoom.
- Must be able to exchange accurate information at all times.
- Will work in a state-of-the-art indoor temperature controlled, sealed window office environment.
BENEFITS:
- Medical and Dental Plan with Prescription Coverage and Vision
- Competitive benefits including 401(K) includes 100% company match of the first 4%
- Paid time off days (PTO), maternity/paternity leave, and holidays
- Community involvement including Volunteer Paid Time Off (VTO)
- Tuition Assistance for your first degree
- Enjoy coming “home” to our brand new, state-of-the-art Home Office equipped with onsite fitness facility with full gym, workout classes, volleyball and basketball courts, ping-pong, disc golf course, and onsite restaurant
- Wellness programs that focus on emotional, social, spiritual, intellectual, environmental, physical, and financial well-being
- Collaborative and energetic work environment
- Professional development and promotional opportunities
- Competitive bonus programs
- Enjoy flexibility with this Campus Flex position! This hybrid work style offers 2-3 days of remote work and 2-3 days in the office
Here are some more reasons to choose Vanderbilt Mortgage!
- A Berkshire Hathaway Company – an integrity-based organization offering unlimited career growth
- Full-time team members have the flexibility to create their own health, dental, and vision benefits package. Vanderbilt Mortgage and Finance, Inc. provides competitive 401(k) programs, including investment options and company matching for full and part time employees after one year to help our team members achieve their financial goals. Additional benefits include paid parental leave, tuition reimbursement, Employee Assistance Programs, and more.
- Vanderbilt Mortgage and Finance Inc. is a subsidiary of Clayton of which is proud to have earned spots on the following Forbes lists: America’s Best Employers, America’s Best Employers by State, Best Employers for Diversity, Best Employers for Women.
- As part of Vanderbilt Mortgage’s commitment to Opening Doors to a Better Life, VMF is now providing paid time for Team Members to volunteer to causes that are meaningful to them through the Clayton Impact program.
- At VMF, we encourage holistic wellness with physical, nutritional, social, financial, spiritual, and occupational programs available online or in-person for team members.
- Our newly renovated Home Office campus offers an onsite restaurant, onsite fitness facility with full gym, in-person and virtual workout classes, yoga/barre studio, volleyball, and basketball courts, walking paths, and a disc golf course.
Vanderbilt Mortgage and Finance Inc. is committed to a diverse and inclusive workplace. Vanderbilt Mortgage and Finance, Inc. is an equal opportunity employer and does not discriminate on the basis of race, national origin, gender, gender identity, sexual orientation, protected veteran status, disability, age, or other legally protected status.
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