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GMAC Financial Services is a global finance company operating in and servicing North America, South America, Europe and Asia-Pacific. GMAC specializes in automotive finance, real estate finance, insurance, commercial finance and online banking. As of Dec. 31, 2007, the organization had $249 billion in assets and serviced 15 million customers.
Founded in 1919 as a wholly owned subsidiary of General Motors Corp., GMAC was established to provide GM dealers with the financing necessary to acquire and maintain vehicle inventories and to provide customers a means by which to finance vehicle purchases. The company's products and services have since been expanded and now include three primary lines of business: automotive financing, real estate financing and insurance.
On Nov. 30, 2006, GM sold a 51 percent controlling interest in GMAC to a consortium of investors led by Cerberus Capital Management, L.P., a private investment firm, and included Citigroup Inc., Aozora Bank Ltd. and a subsidiary of The PNC Financial Services Group, Inc.
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| Job Description |
JOB DESCRIPTION
POSITION TITLE: Investor Senior Accountant
DEPARTMENT: Investor Reporting
SUPERVISOR: Team Leader
PURPOSE AND SCOPE:
To perform daily, weekly, and monthly reporting, balancing, and remitting to Private Investors. Ensures that all investor guidelines and procedures are followed as stated in the respective servicing guides; as well as GMACM procedures and company goals. Ensures all monthly activity is completed timely and accurately, and that each accounting cycle cutoff is completed successfully. As a Senior Accountant, ability to handle the more complex investor relationships.
ACCOUNTABILITES:
Major Accountabilities # hours per week (Not to exceed 40)
1. Accurate reporting and remitting to investors. 20
2. Monitoring of P&I custodial accounts to ensure that no overdrafts occur. 3
3. Assist bank reconciliation staff with balancing of custodial accounts. 3
4. Maintain accurate records of reports and remittances. 3
5. Prepare detailed written procedures for each investor. 1
6. Review new serving contracts to ensure compliance. 1
7. Respond to miscellaneous investor requests for information. 3
8. Participate in special projects as assigned by supervisor. 1
9. Assist with training and development of Staff Accountants. 1
10. Perform various system maintenance transactions as needed (service fee rate corr, loan sales). 4
CONTACTS/RELATIONSHIPS:
Title of Immediate Supervisor: Team Leader
Positions that report to this position: None
Primary customers of this position and type of contact:
Investor Portfolio Representative(s),
Corporate Accounting Department
Capital Markets
Bank Reconciliation Department
Cash Processing / Wire Desk
Banking Institutions
Contact will be primarily by telephone and e-mail. Written communication is also required.
CONDITIONS OF WORK:
Minimal travel may be required for company sponsored training. Additionally, minimal travel may be required or requested for investor-sponsored or industry sponsored conferences, training, or related events.
While this job description is intended to be an accurate reflection of the job requirements, management reserves the right to modify, add, or remove duties from particular jobs and to assign other duties as necessary. |
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| Job Requirements |
Education and/or Experience: A four year degree in Accounting and 3-4 years experience in Investor Reporting or custodial account reconciliation. In lieu of this, 5-6 years of experience in mortgage servicing accounting.
Skills and Abilities: Very strong Excel and Access skills required. Excellent organization skills; Competent analytical abilities; Detail oriented; Strong oral and written communication skills; Extremely accurate; Excellent problem solving abilities. Knowledge of Mortgage Banking, specifically Investor Reporting; Proficient in Basic Accounting skills (debits & credits; cash flows; bank reconciliations; and the interaction of these). Willing to work extra hours during peak periods; proven ability to develop and/or maintain sound business relationships – internally and externally. |
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