Pennymac
Pennymac has the mindset and agility of a startup, with the power and backing of a large public company.
Los Angeles, CA

Loan Reconciliation Analyst II at Pennymac

| Los Angeles, CA
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Overview
Perform comprehensive loan file reviews once all expected proceeds and settlements have been received. The purpose of the review is to validate that all required investor, insurer, and internal guidelines were met in a timely manner, and that the claim payment made by the investor and insurer was appropriate based on what PennyMac was entitled to receive. Oversee the reimbursement or supplemental recovery process to and from the investor, insurer, or other third parties. Prepare regular reports to inform management of the losses experienced in the loan servicing process and may present losses in a monthly loss reconciliation forum. Ensure that PennyMac's recovery was maximized through an extensive file review, supplemental claims, or third party recovery (transactional reps and warrants), where applicable. This position will consult with various business units to identify risk and loss exposure and develop procedural recommendations and process remediation.
Job Description
  • Review completed loan files to validate that all required investor, insurer, and/or PennyMac guidelines were met in a timely manner (and therefore entitling PennyMac to financial recovery)
  • Reconcile financial transactions to ensure maximum recovery for the company
  • Prepare monthly reports on monetary losses due to curtailments or other servicing deficiencies
  • Present losses to management in regular established loss forums
  • Seek third party recovery of losses, as stipulated in the reps and warranties of specific transactions
  • Negotiate full or partial settlements with MI, Investor, or other third parties, as required
  • Consult with various business units to identify risk or exposure to losses and develop procedural recommendations
  • Perform work duties utilizing MS Access or Sequel database, including query design and execution
  • Perform other related duties as required and assigned
  • Demonstrate behaviors which are aligned with the organization's desired culture and values
Ideal Candidate will have the following:
  • Highly motivated individual with strong time management skills
  • Must be a team player with strong attention to detail and ability to work independently
  • Proven track record at delivering timely and accurate information in a fast-paced environment
  • Excellent critical thinking, problem solving, and mathematical skills, and sound judgment
  • Financial Services and, if possible, mortgage industry experience preferred
  • Strong business acumen and ability to interface effectively with executive management
  • Must be highly proficient in Excel and Word
  • MS Access or SQL experience in database and query functionality preferred
Years of Experience:
3Education:
Bachelor's Degree
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Technology we use

  • Engineering
  • Product
  • Sales & Marketing
    • .NETLanguages
    • PerlLanguages
    • PythonLanguages
    • RubyLanguages
    • AWS Cloud ServicesLanguages
    • jQueryLibraries
    • jQuery UILibraries
    • ReactLibraries
    • ReduxLibraries
    • AngularJSFrameworks
    • Node.jsFrameworks
    • Ruby on RailsFrameworks
    • SpringFrameworks
    • MongoDBDatabases
    • MySQLDatabases
    • PostgreSQLDatabases
    • TableauAnalytics
    • ConfluenceManagement
    • Google DriveManagement
    • Google DocsManagement
    • Google SlidesManagement
    • JIRAManagement
    • GitLabManagement
    • SalesforceCRM
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What are Pennymac Perks + Benefits

Pennymac Benefits Overview

Pennymac puts its people first. Our generous health, dental and vision benefits are available to all full-time employees. Our tech department also hosts fun, team-building events and activities.

Culture
Volunteer in local community
Partners with Nonprofits
Friends outside of work
Eat lunch together
Intracompany committees
Daily sync
Open door policy
Team owned deliverables
Team based strategic planning
Group brainstorming sessions
Pair programming
Open office floor plan
Diversity
Dedicated Diversity/Inclusion Staff
Highly diverse management team
Unconscious bias training
Diversity manifesto
Diversity Employee Resource Groups
Hiring Practices that Promote Diversity
Health Insurance & Wellness Benefits
Flexible Spending Account (FSA)
Disability Insurance
Dental Benefits
Vision Benefits
Health Insurance Benefits
Life Insurance
Wellness Programs
Onsite Gym
Mental Health Benefits
Retirement & Stock Options Benefits
401(K)
401(K) Matching
Company Equity
Employee Stock Purchase Plan
Performance Bonus
Child Care & Parental Leave Benefits
Family Medical Leave
Vacation & Time Off Benefits
Generous PTO
Paid Holidays
Paid Sick Days
Perks & Discounts
Casual Dress
Commuter Benefits
Company Outings
Game Room
Stocked Kitchen
Some Meals Provided
Fitness Subsidies
Professional Development Benefits
Job Training & Conferences
Diversity Program
Lunch and learns
Promote from within
Mentorship program
Time allotted for learning
Online course subscriptions available
Customized development tracks

An Insider's view of Pennymac

What are some social events your company does?

Our Tech team has great events, including casino & trivia nights, virtual happy hours, gaming - we’ve even sponsored a video game tournament against our industry competitors! We’re nationally disbursed, but regardless of where people live, we’re all part of one interactive, linked community, and it’s easy to find others who share your interests.

Juan

Senior Developer, Production

How do you collaborate with other teams in the company?

The culture at Pennymac has cultivated a great sense of teamwork in which we all succeed, fail, and learn together. We collaborate in many ways - from video calls to morning coffee hours, ad hoc huddles, email, chat, and sometimes while playing ping pong or pool in the cafeteria. Everyone is encouraged to work together to accomplish a common goal.

Mandy

Vice President, IT Program Management

How has your career grown since starting at the company?

My time at Pennymac has rocketed my career as a software dev. In two years I went from having no professional coding background to managing three applications in production, managing two direct staff and contributing to open-source libraries. My time has given me the experience and skills to successfully create new tech products that make money.

John

Assistant Vice President, Application Development

How do your team's ideas influence the company's direction?

As a company, we're one very cohesive, supportive team with various areas of expertise. It's like a potluck - everyone brings something different, but it all comes together perfectly. Company management believes in us, trusts us, and invests in us. That provides the opportunity to build positive outcomes for our business and our customers.

Nick

Managing Director, Technology Infrastructure

What are some things you learned at the company?

Our team constantly works to better itself by delivering software on time without shortcuts or compromising quality. At Pennymac, I have the opportunity to own many critical day-to-day database operations. I've had the flexibility to be innovative, which has allowed me to grow as a developer.

Pavan

Senior Developer, Database

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