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VP, Loan Accounting Manager

Company: Banc of California
Location: Santa Ana
Posted on: May 26, 2023

Job Description:

Banc of California, Inc. (NYSE: BANC) is a bank holding company with approximately $9.4 billion in assets and one wholly-owned banking subsidiary, Banc of California, N.A. (the "Bank"). With our 600+ dedicated professionals, we provide customized and innovative banking and lending solutions to businesses, entrepreneurs and individuals throughout California. We proudly partner with community organizations that provide financial literacy, job training, small business support, and affordable housing to help improve the communities where we live and work. With a commitment to service and building enduring relationships, we provide a higher standard of banking. JOB SUMMARY: The VP Loan Accounting Manager will support the Corporate Controller and the accounting and finance team in all matters related to loan accounting.Subject matter expert in accounting for loan originations, servicing, loan purchases and loan sales, including non-accrual loans, deferred fees and costs, mortgage servicing rights and other real estate owned.Primary liaison to the Bank's loan operations and loan servicing departments. Oversees the loan accounting team which is responsible for the accounting and reporting of the Bank's residential and commercial loan portfolios, which includes analyzing and reconciling loan system balances to the general ledger, collaborating with business and servicing units to ensure loan transactions are properly integrated and accounted for in the general ledger, and preparing fluctuation analyses. Serves as the accounting subject matter expert on loan system to general ledger integration, facilitates new implementations and ongoing enhancements to existing systems, and performs user acceptance testing. Contributes to the monthly close process reviewing relevant journal entries, reports and analytics.Provides training, development and support to team members and less experienced staff.Oversees the generation and balancing of the Company's monthly detailed loan tape and replies to related requests from internal and external audit. Analyze and prepare various monthly and ad hoc internal management and external financial tables and analysis. Perform and supervise various financial analyses and prepare financial data for financial reporting. Perform all duties in accordance with the Company's policies and procedures and all state and federal regulations. Ensures compliance with established Bank policies, procedures and regulatory requirements. Demonstrates comprehensive knowledge of GAAP and internal controls over financial reporting. Performs all duties in accordance with the Company's policies and procedures, all U.S. state and federal laws and regulations, wherein the Company operates. ESSENTIAL DUTIES AND RESPONSIBILITIES:

  • Responsible for all loan accounting related matters, including accounting treatment in accordance with GAAP.
  • Proficiency in all aspects of loan accounting and all pertinent GAAP, SEC rules and regulations.
  • Responsible for the review of various monthly, quarterly and annual reporting which includes regulatory reports, month end reports and financial reports and schedules for the loan area.
  • Responsible for issuing the monthend loan tape and the timely completion of tasks in the month end financial close process. Including analytical review of account fluctuations.
  • Collaborate with critical external departments such as Treasury and Loan Servicing.
  • Key liaison to the internal and external auditors for all loan accounting requests.
  • Assumes responsibility for special projects; gathers data and prepares reports for Senior Management, audits and other personnel.
  • Supervises a staff of 2-5 professionals
  • Treats people with respect; keeps commitments; inspires the trust of others; works ethically and with integrity; upholds organizational values; accepts responsibility for own actions.
  • Demonstrates knowledge of and adherence to EEO policy; shows respect and sensitivity for cultural differences; educates others on the value of diversity; promotes working environment free of harassment of any type; builds a diverse workforce and supports affirmative action.
  • Follows policies and procedures; completes tasks correctly and on time; supports the company's goals and values.
  • Performs the position safely, without endangering the health or safety to themselves or others and will be expected to report potentially unsafe conditions. The employee shall comply with occupational safety and health standards and all rules, regulations and orders issued pursuant to the OSHA Act of 1970, which are applicable to one's own actions and conduct.
  • Performs other duties and projects as assigned. Banc of California is an equal opportunity employer committed to creating a diverse workforce. All qualified applicants will receive consideration for employment without regard to age (40 and over), ancestry, color, religious creed (including religious dress and grooming practices), denial of Family and Medical Care Leave, disability (mental and physical) including HIV and AIDS, marital status, medical condition (cancer and genetic characteristics), genetic information, military and veteran status, national origin (including language use restrictions), race, sex (which includes pregnancy, childbirth, breastfeeding and medical conditions related to pregnancy, childbirth or breastfeeding), gender, gender identity, gender expression, and sexual orientation. If you require reasonable accommodation as part of the application process please contact Talent Acquisition Partner. ESSENTIAL KNOWLEDGE, SKILLS, AND ABILITIES:
    • Working knowledge of Generally Accepted Accounting Principles (GAAP) related to loan accounting and banking operations including SOP 03-3, FAS91, LOCOM, Fair Value, Pool processes, and amortization.
    • Familiarity with Fiserv applications including: Prologue General Ledger, Premier, Encompass and SBO 2000 preferred.
    • Advanced skills in Microsoft Office applications, especially Excel.
    • Expert math skills; calculate interest and percentages; balance accounts; add, subtract, multiply and divide in all units of measure, using whole numbers, common fractions and decimals; locate routine mathematical errors; compute rate, ratio and percent.
    • Ability to deal with complex problems involving multiple facets and variables in non-standardized situations.
    • Excellent analytical and critical thinking skills.
    • Must be a self-starter with the ability to take initiative, but equally a strong team player in a fast paced environment
    • Ability to provide consultation and expert advice to management.
    • Effective organizational and time management skills.
    • Exceptional oral, written and interpersonal communication skills.
    • Strong written and verbal communication skills are paramount to the role
    • Demonstrates knowledge of, adherence to, monitoring and responsibility for compliance with state and federal regulations and laws as they pertain to this position including but not limited to the following: Regulation Z (Truth in Lending Act), Regulation B (Equal Credit Opportunity Act), Fair Housing Act (FHA), Home Mortgage Disclosure Act (HMDA), Real Estate Settlement Procedures Act (RESPA), Fair Credit Reporting Act (FCRA), Bank Secrecy Act (BSA) in conjunction with the USA PATRIOT Act, Anti-Money Laundering (AML) and Customer Information Program (CIP), Right to Financial Privacy Act (RFPA, state and federal) and Community Reinvestment Act (CRA) EDUCATION, EXPERIENCE AND/OR LICENSES:
      • Bachelor's Degree in Accounting, Finance or related field, or equivalent work experience.
      • 5+ years advanced experience with loan accounting, management and supervisory activities.
      • 7+ years of experience with progressive responsibility and experience in accounting or finance
      • Prior experience in a publicly traded banking or financial services environment. SALARY RANGE: - $104,282.72 - 166,338.61; Exact compensation may vary based on skills, experience, and location

Keywords: Banc of California, Santa Ana , VP, Loan Accounting Manager, Executive , Santa Ana, California

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