Cash Manager

Dovenmuehle Mortgage, Inc.-posted 3 days ago
Full-time • Mid Level
Onsite • Lake Zurich, IL
1,001-5,000 employees
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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. General Description: 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.

  • Partner with AVP, VP, and senior management to plan, develop, implement, and evaluate departmental goals, budgets, and initiatives.
  • Monitor trends and departmental performance to adjust staffing and resources while ensuring alignment with changing business needs and strategic objectives.
  • Develop and enforce measurements and controls to ensure adherence to client, investor, government regulations and internal policies.
  • Manages and approves timely, accurate responses to internal and external audits, compliance reviews, presidential complaints, and information requests, ensuring all submissions adhere to organizational policies, standards, and applicable regulatory requirements.
  • Implement policies and procedures that promote service excellence, enhanced morale, and a positive work environment while maintaining staffing levels and productivity standards within approved budgets.
  • Participates in the recruitment and selection process for all departmental roles, ensuring alignment with organizational hiring standards and workforce planning objectives.
  • Recommend personnel actions including hiring, promotion, advancement, and termination in accordance with organizational guidelines.
  • Review operational results and evaluate performance against departmental goals and standards.
  • Prepare and submit monthly departmental reports as well as communicate status of work in process and potential problems or risk as requested by AVP, VP or Senior management.
  • Promote a culture of continuous learning and collaboration while serving as a mentor to team members, providing guidance on regulatory compliance, product knowledge, and professional development.
  • Demonstrate strategic thinking and problem-solving capabilities to address challenges and drive effective workflow process solutions for growth, efficiency, and innovation.
  • Sets clear performance standards and enforces departmental policies for all subordinates.
  • Manage employee performance, provide coaching, and coordinate corrective action as needed.
  • Manage time-off approvals and annual performance reviews.
  • Successfully complete annual regulatory compliance training.
  • Maintain high levels of cooperation and rapport with team members to promote accurate and efficient operations and service; maintain visible presence throughout the department.
  • Manages and resolves corporate receivable and custodial bank account reconciliation items assigned to cashiering, ensuring timely and accurate resolution.
  • Ensure there is a seamless transition of cashiering data and operations during acquisitions and service releases.
  • Represent the department as a subject matter expert at internal and external meetings, projects and events as necessary.
  • Build and maintain positive relationships with vendors, contractors, and the public, upholding organizational ethics.
  • Monitor and stay current in mortgage servicing matters as well as organizational policies and procedures.
  • Additional duties as assigned.
  • Ensure all applicable cashiering reports, tapes, lockbox submissions, etc. are calendared and/or processed timely.
  • BPI – Branch Payment Interface, payments made at the branches, transmittals received in the cash proxy. Ensure cash proxy is handled.
  • Tellerview – Same as above, different balancing processes.
  • P-100 – Rejected items that need to be reviewed and posted accordingly. Forward payments to new servicers and return funds as necessary.
  • Clerical/Service Release – Returning checks that cannot be processed for various reasons and forwarding checks and wires to new servicers.
  • Coordinate and facilitate staff meetings.
  • ACH Drafting- Ensuring that any ACH Inquiries received is done timely and handled accordingly.
  • NSF Return items- ensuring that any return items received are being reversed from the system timely and reviewing the NSF Account is balanced daily.
  • Payoffs – Check and wire posting of payoffs. Research is required if payoff is short or over.
  • Suspense Processing- Reviewing loans with suspense balances and clearing timely.
  • Regulatory Letters – Ensuring that states requiring regulatory letters for suspense funds are reviewed and mailed in a timely manner.
  • Cash Analyst – Research all incoming Cash issues.
  • Mail Processing- Reconciling all packages that should be received daily and preparing payments for processing.
  • Deposits – Depositing checks to our bank for settlement.
  • Payment Processing – Posting checks, wires, doc sheets, and running checks via Maxmillion automated machine.
  • 5-7 years of experience in mortgage servicing, Cashiering, financial services or similar industry
  • 3-5 years of management experience
  • Strong knowledge of mortgage compliance and regulations
  • Bachelor’s degree or equivalent experience
  • Solid PC skills: Proficient with Microsoft applications
  • Strong analytical and problem-solving skills and attention to detail
  • Ability to handle complex, multiple tasks simultaneously in a fast-paced environment.
  • Ability to coordinate multiple and changing priorities.
  • Effective verbal and written communication skills, with always demonstrated ability to interact in a positive and professional manner with all levels of both internal and external audiences.
  • The ability to handle confidential or sensitive information with discretion.
  • Ability to motivate others and serve as a role model for organizational and departmental initiatives, procedures, and values.
  • Knowledge of mortgage servicing software and platforms
  • 7-10 years of mortgage servicing experience including Cashiering
  • 5 plus years of management in the financial services/mortgage industry
  • Medical, Dental, Vision, Wellness, Flexible Spending Account, and Employee Assistance Program and more.
  • Employer paid Life Insurance, Short Term Disability, and Long-Term Disability.
  • 401 (K) Plan with company match
  • Paid Vacation, Sick, Personal and Holidays
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