Loan Accountant
Lake Trust Credit Union

Job Info

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Loan Accountant

More Than A Job!

Why do you work each day? To us, our jobs are not just something we do to make a living, it's a way to live. We work to support our members; whether celebrating moments of joy, finding a solution to an obstacle, or offering encouragement through a time of struggle. The worth of our work isn't measured in dollars and cents, it's seen in our communities and felt by the people who believe in us.

Benefits Include:

• Financial wellbeing services
• 401(K) matching with up to 5% match
• Reduced health insurance
• Employee wellbeing services
• DE&I initiatives
• Work-life integration

What You'll Do

The position is responsible for all loan accounting for the credit union including mortgages, consumer loans, commercial loans, student loans and participation loans. It is also responsible for reconciling all loans to the general ledger along with ensuring loan balances uploaded to the credit union's loan analytics system agree to the general ledger loan balances. This position will represent Finance on project teams that involve loan products. The position also prepares and provides critical loan data for government, financial statement and management reporting, tracks the movement of the credit union's foreclosed properties, pays & reports tax withholdings to the IRS & State of Michigan, reconciles other general ledger accounts as assigned and processes WireXchange wire transfers.

Essential Functions

• Process daily entries in general ledger system for Mortgage Center, Student Choice, Michigan Business Connection, and other miscellaneous entries.
• Reconcile general ledger accounts for Mortgage Center, Michigan Business Connection, Student Choice, Core System Consumer Loans, Loan Related Insurance Products, Loan Suspense, Foreclosures and Loan Interest Receivable.
• Communicates with our third party loan providers (Mortgage Center, Michigan Business Connection, Student Choice, etc.) to research and fix differences with the loans they service for us
• Set up and maintains mortgage loan deferred fees in an Excel database to amortize them over a specific period of time and remove them if the loan pays off early.
• Set up and maintains commercial loan deferred and origination fees in an Excel database to amortize them over a specific period of time and remove them if the loan pays off early.
• Prepares monthly movement of foreclosed real estate properties, other repossessed property and mobile homes.
• Calculate and process month-end loan accrual entries for interest, payment remittances and credit card cash rewards.
• Upload reports from various third party loan servicers and distribute the reports to internal credit union users of the reports.
• Prepares quarterly Official Loans report.

Level 1 Functions

• Handles basic issues and problems, and refers more complex issues to higher level staff.
• Possesses beginning of working knowledge of subject matter.
• Little or no coaching or mentoring of other.

Level 2 Functions

• Handles moderately complex issues and problems, and refers more complex issues to higher level staff.
• Possesses solid working knowledge of subject matter.
• May provide leadership, coaching, and /or mentoring to others.

What You'll Bring

• BA/BS Degree, preferably in accounting or finance
• Up to four (0-4) years finance and/or accounting experience is preferred
• Demonstrated advanced proficiency in Microsoft Excel, Microsoft Word, Microsoft Access and data mining software
• Data base management, experience with Monarch and other data reporting tools, and SQL query preferred

What You'll Get

• Ability to collaborate and build a sense of togetherness that contributes to a positive work environment.
• Being open to change and embracing new opportunities can lead to diverse experiences and career advancement.
• By prioritizing member wellbeing, which leads to increased engagement, improved team dynamics, higher levels of motivation and a stronger community culture.

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