Loan Accountant Specialist

The Momentus Capital branded family of organizations - which includes Capital Impact Partners, CDC Small Business Finance, and Ventures Lending Technologies - is transforming how capital and investments flow into communities to provide people access to the capital and opportunities they deserve. We are working to reinvent traditional financial systems that have failed to address systemic issues of inequality, economic empowerment, and the widening racial wealth gap by offering a continuum of financial, knowledge, and social capital to help local leaders build inclusive and equitable communities and create generational wealth. This includes a comprehensive package of loan products, impact investment opportunities, training and business advising programs, and technology services that advance locally-led solutions. Our suite of products and services, experience, and scope will foster equitable job creation, wealth building, and economic mobility.

Position Summary

The Loan Accountant Specialist is a fulltime position, and will play a critical role in supporting the Payment Processing team. The ideal candidate will be responsible for accurately recording all payment and loan maintenance activities in the Loan Accounting system. These activities may include, but are not limited to, Payment Processing, NSF returns, Loan disbursements, Loan boarding, ACH drafts, Billing/invoicing, general monthly cash reconciliations and any other assigned duties. The successful candidate will also collaborate with various teams including Accounting, Servicing, Portfolio Risk Management, Treasury, Closing and Lending & Investment. The ideal candidate will have a strong understanding of loan accounting principles and practices, exceptional attention to detail, and the ability to work effectively in a fast-paced, team-oriented environment.

Essential Responsibilities

• Daily Monetary Payment Processing (40%): This responsibility involves the processing of incoming payments through various methods such as ACH, Wires, or Checks. The processed payments are then recorded in the loan system. It includes handling pre-authorized loan payments, loan payoffs, NSF returns, payment discrepancies, loan advances/disbursements, and processing of escrow/reserve and insurance.
• Loan Boarding (20%): In this role, you will review loan documents and accurately set up new loans in the loan systems. This includes interpreting loan terms, calculating principal and interest payments, and ensuring the accuracy of loan information.
• Loan File Maintenance (20%): You will be responsible for processing requested loan and loan system file maintenance for Change in Terms/Modifications/Deferments while ensuring compliance with regulations and internal policies.
• Reconcile Loan System Related General Ledger Accounts (10%): As part of this responsibility, you will assist in resolving any general ledger issues related to payments or loan system interfaces and reconcile daily cash reports.
• Other (10%): Other duties include printing invoices and annual statements, ensuring timely delivery to borrowers, processing day-end and month-end reports, NACHA files, rate updates in the system, and generating necessary reports for the team. You may also provide support for loan system-related projects and serve as a backup to other team members as needed.

Requirements

•  Minimum of an Associate’s degree in Business, Accounting, or a related field is required. A Bachelor’s degree is preferred. The education level will be evaluated on a holistic basis, taking into account both education and work experience.

• 3+ years of experience in Loan Accounting or Servicing.

• Basic knowledge of Accounting and familiarity with loan documents such as Note, Loan Agreement, as well as a strong understanding of payment processing.

• Strong attention to detail, ability to research and analyze information, make informed decisions, and follow through on tasks.

• Experience in a financial institution such as Banking institutions or CDFIs, working with loan documents and understanding the loan life cycle.

• Quick learner with confidence, self-awareness, agility, and problem-solving skills. Excellent interpersonal skills and a collaborative mindset, exhibiting core values such as being invested and intentionally inclusive.

• Excellent interpersonal skills and a collaborative mindset, exhibiting core values such as being invested and intentionally inclusive

Benefits

The salary range for this position is $57,401 - $71,752 and is eligible for an annual incentive.

This role is eligible to work remotely, but the ideal candidate must be located in the D.M.V. area.

All employees must be legally authorized to work in the United States.  The Company will not sponsor applicants for work visas.

EEO: Momentus Capital is an equal opportunity employer committed to a diverse work force; and, as such, is fully committed to providing employment for qualified individuals, free from discrimination on the basis of race, color, religion, sex, age, sexual orientation, gender identity, national origin, disability, marital status, pregnancy, childbirth or related medical conditions, or any other protected characteristic established by applicable law.