As one of the largest real estate managers in the world with $179.2 billion in gross assets under management and administration1, PGIM Real Estate strives to deliver exceptional outcomes for investors and borrowers through a range of real estate equity and debt solutions across the risk-return spectrum. PGIM Real Estate is a business of PGIM, the $1.3 trillion global asset management business of Prudential Financial, Inc. (NYSE: PRU).
PGIM Real Estates rigorous risk management, seamless execution, and extensive industry insights are backed by a 50-year legacy of investing in commercial real estate, a 140-year history of real estate financing 2, and the deep local expertise of professionals in 31 cities globally. Through its investment, financing, asset management, and talent management approach, PGIM Real Estate engages in practices that ignite positive environmental and social impact, while pursuing activities that strengthen communities around the world. For more information visit .
Prudential Asset Resources (PAR) is a subsidiary of PGIM Real Estate and one of the largest commercial and multifamily mortgage servicing firms in the nation. Prudential Asset Resource manages a wide variety of mortgage investments that includes Prudentials General Account, CMBS, Fannie Mae, Freddie Mac and FHA loans. The Company is a rated Primary, Master, and Special Servicer. PGIM Real Estate is one of the nations largest full-service commercial, multi-family and agricultural real estate lenders and has been serving the commercial real estate market for over 125 years.
PAR is seeking an Associate Manager, Accounting to assume responsibility for supervising two experienced accountants in support of the Agency business (e.g., Fannie Mae, FHA/Ginnie Mae and Freddie Mac) mortgage loan accounting for originations, mortgage loan fee accounting (i.e., tracking and recording good faith deposits through to loan closing), compilation of Agency business mortgage loan Revenue Reports including understanding the key drivers for Revenue variances and review of mortgage loan related balance sheet account reconciliations. The successful candidate will also be involved with Mortgage Servicing Rights (MSRs) including the recording of Capitalized Mortgage Servicing Rights, Amortization and Impairment. This role will require partnering with the Originations, Asset Management and PGIM Real Estate Controllers teams. The role requires someone who is proactive in accomplishing tasks as well as assumes ownership of assigned tasks. The Associate Manager, Accounting will work directly with the Accounting Manager and have exposure to the group director and PAR senior management.
The primary responsibilities of this role include, but are not limited to:
Tracking files for originations accounting for FNMA and FHA/Ginnie Mae business
Loan Fee Accounting (i.e., good faith deposits through to loan closing) for all Agency business (FNMA, Freddie Mac and FHA/Ginnie Mae)
All journal entries related to Agency Originations and Loan Fee Accounting
Balance sheet account reconciliations related to Agency Accounting including Originations, Loan Fee Accounting and Mortgage Servicing Rights
Preparation of the Monthly Servicing Revenue Package (detailing servicing fees earned on mortgage loans originated by PAR)
Preparation of the Agency Revenue Package (detailing revenue earned in the process of mortgage loan originations)
Preparing Monthly Agency Revenue Reports (detailing revenue earned in the process of mortgage loan originations) by, in part, pulling the trial balance and forecasting reports.
Maintaining the FHA/Ginnie Mae Debt Tracker (i.e., debt used to fund mortgage loans) and oversight of the FHA/Ginnie Mae settlements. Coordinate with Corporate Treasury for the debt/repayments on FHA/Ginnie Mae loans.
Responsible for all the Quarterly Journal Entries and Calculations (CECL Reserves, FIN45 Reserves, Correspondent Accrual, Subservicing Accrual, Freddie Mac Guarantee Fee, etc)
Providing appropriate accounting documentation in support of internal and external audits
Qualificationsfor this role include:
Aminimum of 5 years of work experience
4years of prior experience in commercial real estate or another financialdiscipline
Undergraduatedegree in accounting preferred but will consider other business degreed candidatesincluding Finance, Economics, and Real Estate
Publicaccounting firm experience / CPA / MBA a plus.