Payment Processor Sr.

Cenlar is the nation’s leading mortgage loan subservicer. Our unique culture is defined by our core values of respect, trust, integrity and care. A promote-from-within philosophy, and opportunities for continuous professional growth make Cenlar a great place to launch or boost your career.

 

The Payment Processor is responsible for loan level cash transactions, reconciling funds received to the system of record and depositing checks to Federal Reserve Bank. 

Responsibilities:

Assists the department supervisor/manager in day to day direction, prioritization of staff and workflowAssists the team in the daily operations of department dutiesActs as initial escalation point of contact on issues, delays, client inquiries etcAssists in mentoring, coaching, and timely feedback on performance of teamCreates and updates departmental procedures and job aidsFunctions as a department subject matter expert (SME)Keeps supervisor/manager advised of all issues, unresolved escalated items and/or potential risk/exposure issuesManages departmental reports to ensure completionTrains other processors to review and manage system functions and reportsReviews and responds to Fed Wire service message requestsPerforms payoff reversals and reset loansWorks on special projects and any other duties assignedConsistently complies with all company guidelinesResponsible for advanced level tasks which may include loan level reversals and reapplications, or reversal of funds to checks and/or wire transfers.Works with the Investor Reporting manager to determine appropriateness of reversal requestsAnalyzes daily suspense aging report; post suspense funds when applicable according to client and investor rulesResearches payments as initiated by internal departments or directly by clientsCAP team processing, responsible for special applications of cash transactions for capitalized loansConducts root cause analysis of payment misapplications, loan level tracking of same to determine source as follows:Borrower error, client error, vendor error, conversion error, Cenlar error, or processor errorCompletes 1098 adjustments through the cashiering workstationInterprets previous servicer history to facilitate the reversal of payments that were applied by a previous servicerAssists in the preparation of audits by gathering required documentationPerforms supervisory tasks for nightly closing of the department during the absence of the Supervisor, including, but not limited to:Ensures that all payment and payoff batches are closedEnsures the check deposit is prepared and transmitted to the Federal Reserve BankEnsures that all lockbox files are received and processed at the data centerSecures of all negotiable instrumentsAppropriately assess risk when business decisions are made, include but not limited to compliance and operational risk. Demonstrate consideration for Cenlar’s reputation as well as our clients, by driving compliance with applicable laws, rules and regulations, adhering to Policy, applying sound ethical judgment regarding personal behavior, conduct and business practices, and escalating, managing and reporting control issues, as well as effectively supervise the activity of others and create accountability with those who fail to maintain these standards.

Qualifications:

High School Diploma or GED required5+ years of current branch banking experience or related payment processing experienceComputer literacy, including but not limited to Windows, Excel, Word, OutlookProficiency in a 10-key calculator by touchStrong math aptitude essentialDemonstrated analytical and problem solving skillsExcellent written and verbal communication and interpersonal skills requiredAbility to work as a team member in a diverse workforceIt is critical that you have an understanding of the following:Requirements under the Truth in Lending Act (TILA) specifically:the prohibition of pyramiding late fees,payment processing and the treatment of partial payments,payoff statements, andpayoff statements for high cost mortgages.

Total Rewards:

At Cenlar, you’ll receive an outstanding benefits package that includes paid medical, dental, and life insurance, 401(k), and tuition assistance as well as opportunities for training and professional advancement.

Cenlar is a drug-free workplace and an equal employment opportunity/affirmative action employer M/F/D/V/SO.

 

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