Cash Manager

Job Description

Cash Manager (Onsite daily)

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Full time; Exempt;

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Location; Lake Zurich, IL, US

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Department: Cashiering

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Dovenmuehle Mortgage, Inc. (“Dovenmuehle”) is the leading mortgage subservicing firm in the United States with several hundred financial institution clients nationwide.

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General Description:

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Provides leadership to and has operational responsibility for the management of assigned department. Oversee the quality and compliance regarding laws and regulations and identify areas of improvement.

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Essential Functions and Duties Include, but are not limited to:

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• Partner with AVP, VP, and senior management to plan, develop, implement, and evaluate

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departmental goals, budgets, and initiatives.

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• Monitor trends and departmental performance to adjust staffing and resources while ensuring

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alignment with changing business needs and strategic objectives.

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• Develop and enforce measurements and controls to ensure adherence to client, investor,

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government regulations and internal policies.

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• Manages and approves timely, accurate responses to internal and external audits, compliance

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reviews, presidential complaints, and information requests, ensuring all submissions adhere to

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organizational policies, standards, and applicable regulatory requirements.

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• Implement policies and procedures that promote service excellence, enhanced morale, and a

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positive work environment while maintaining staffing levels and productivity standards within

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approved budgets.

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• Participates in the recruitment and selection process for all departmental roles, ensuring

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alignment with organizational hiring standards and workforce planning objectives.

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• Recommend personnel actions including hiring, promotion, advancement, and termination in

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accordance with organizational guidelines.

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• Review operational results and evaluate performance against departmental goals and standards.

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• Prepare and submit monthly departmental reports as well as communicate status of work in

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process and potential problems or risk as requested by AVP, VP or Senior management.

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• Promote a culture of continuous learning and collaboration while serving as a mentor to team

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members, providing guidance on regulatory compliance, product knowledge, and professional

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development.

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• Demonstrate strategic thinking and problem-solving capabilities to address challenges and drive

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effective workflow process solutions for growth, efficiency, and innovation.

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• Sets clear performance standards and enforces departmental policies for all subordinates.

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• Manage employee performance, provide coaching, and coordinate corrective action as needed.

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• Manage time-off approvals and annual performance reviews.

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• Successfully complete annual regulatory compliance training.

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• Maintain high levels of cooperation and rapport with team members to promote accurate and

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efficient operations and service; maintain visible presence throughout the department.

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• Manages and resolves corporate receivable and custodial bank account reconciliation items

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assigned to cashiering, ensuring timely and accurate resolution.

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• Ensure there is a seamless transition of cashiering data and operations during acquisitions and

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service releases.

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• Represent the department as a subject matter expert at internal and external meetings, projects

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and events as necessary.

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• Build and maintain positive relationships with vendors, contractors, and the public, upholding

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organizational ethics.

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• Monitor and stay current in mortgage servicing matters as well as organizational policies and

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procedures.

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• Additional duties as assigned.

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Department Specific/Additional Duties:

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BPI, Clerical Returns, Service Release:

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• Ensure all applicable cashiering reports, tapes, lockbox submissions, etc. are calendared and/or

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processed timely.

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• BPI – Branch Payment Interface, payments made at the branches, transmittals received in the cash

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proxy. Ensure cash proxy is handled.

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• Tellerview – Same as above, different balancing processes.

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• P-100 – Rejected items that need to be reviewed and posted accordingly. Forward payments to

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new servicers and return funds as necessary.

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• Clerical/Service Release – Returning checks that cannot be processed for various reasons and

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forwarding checks and wires to new servicers.

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• Coordinate and facilitate staff meetings.

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ACH, NSF/ACH Returns, Payoffs:

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• Ensure all applicable cashiering reports, tapes, lockbox submissions, etc. are calendared and/or

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processed timely.

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• ACH Drafting- Ensuring that any ACH Inquiries received is done timely and handled accordingly.

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• NSF Return items- ensuring that any return items received are being reversed from the system

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timely and reviewing the NSF Account is balanced daily.

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• Payoffs – Check and wire posting of payoffs. Research is required if payoff is short or over.

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• Coordinate and facilitate staff meetings.

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Suspense, State Regulatory Letters, Cash Analysts:

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• Ensure all applicable cashiering reports, tapes, lockbox submissions, etc. are calendared and/or

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processed timely.

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• Suspense Processing- Reviewing loans with suspense balances and clearing timely.

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• Regulatory Letters – Ensuring that states requiring regulatory letters for suspense funds are

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reviewed and mailed in a timely manner.

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• Cash Analyst – Research all incoming Cash issues.

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• Coordinate and facilitate staff meetings.

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Payment Processing, Mail Processing, Depositing:

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• Ensure all applicable cashiering reports, tapes, lockbox submissions, etc. are calendared and/or

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processed timely.

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• Mail Processing- Reconciling all packages that should be received daily and preparing payments

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for processing.

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• Deposits – Depositing checks to our bank for settlement.

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• Payment Processing – Posting checks, wires, doc sheets, and running checks via Maxmillion

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automated machine.

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• Coordinate and facilitate staff meetings.

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Required Qualifications:

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• 5-7 years of experience in mortgage servicing, Cashiering, financial services or similar industry

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• 3-5 years of management experience

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• Strong knowledge of mortgage compliance and regulations

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• Bachelor’s degree or equivalent experience

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• Solid PC skills: Proficient with Microsoft applications

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• Strong analytical and problem-solving skills and attention to detail

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• Ability to handle complex, multiple tasks simultaneously in a fast-paced environment.

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• Ability to coordinate multiple and changing priorities.

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• Effective verbal and written communication skills, with always demonstrated ability to interact in a

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positive and professional manner with all levels of both internal and external audiences.

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• The ability to handle confidential or sensitive information with discretion.

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• Ability to motivate others and serve as a role model for organizational and departmental initiatives, procedures, and values.

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Preferred/Other Qualifications:

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• Knowledge of mortgage servicing software and platforms

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• 7-10 years of mortgage servicing experience including Cashiering

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• 5 plus years of management in the financial services/mortgage industry

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Benefits

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• Medical, Dental, Vision, Wellness, Flexible Spending Account, and Employee Assistance Program and more.
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• Employer paid Life Insurance, Short Term Disability, and Long-Term Disability.
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• 401 (K) Plan with company match
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• Paid Vacation, Sick, Personal and Holidays
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Physical Demands and Work Environment:

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The employee is regularly required to communicate (give/receive information) through multiple methods of communication. The employee is frequently required to stand or walk (or otherwise move through the organization); sit; use hands to type, write, handle or feel and reach with hands and arms. The employee may occasionally climb or balance; stoop, kneel, or crouch; or lift and/or move up to 25 lbs. The noise level is usually moderate and typical of an office environment. The employee may be required to use a variety of standard office equipment, including computer keyboards and monitors, phones, printers, etc.

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In accordance with applicable disability laws, Dovenmuehle works with applicants and employees to make reasonable accommodations to the job or work environment when doing so will enable a qualified individual with a disability to satisfactorily perform the essential functions of the job.

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