Associate, Partner Finance

Forbright is a nationwide full-service bank and commercial lender focused on helping to build a brighter futurefor our clients and the communities we serve.

Forbright is committed to exceptional client service by providing seamless, innovative personal banking services to depositors and creative financing solutions to visionary middle market businesses and investors in healthcare, technology, financial services, real estate, and other industries.

We are a dynamic, high energy, fun, and fast-paced organization that has an exciting growth trajectory, meaningful mission, and embedded responsible practices into our daily interactions. We offer our team members a culture of collaboration, inclusion, flexibility, recognition, and giving back. We look to hire individuals that are passionate about our mission, and who are motivated, customer and results-oriented, innovative, adaptable, and thoughtful.

We are a mission-driven institution. We operate a sound dynamic institution that is well capitalized, liquid, profitable and uses best practices to manage risk and assure compliance with laws and regulations. We use Forbright’s capital, capabilities, innovation, and expertise to help our clients succeed and contribute broadly to building a brighter future.

The Associate is primarily responsible for the daily and monthly reconciliation of loan positions and cash for the Partner Finance division’s portfolio of purchased consumer loans, supporting the internal reporting for internal stakeholders and for maintaining the shadow accounting records and recurring reports that management, Finance and the Bank’s oversight committees rely on. This role works with large, loan-level data sets from third-party servicers every day and serves as the first line of control over the accuracy of the portfolio’s balances, cash and reported returns.

• Work with large amounts of loan-level data on a regular basis, including daily and monthly files from third-party servicers and loan sellers covering thousands of loans and dozens of data fields, and be comfortable validating, organizing and reconciling it
• Perform the daily reconciliation of position and cash: confirm that each loan’s balance rolls forward correctly to the cent, and that cash received matches expected collections net of servicing fees, recoveries and other adjustments
• Investigate and resolve reconciliation breaks with servicers, including returned payments and payment reversals, status changes without matching cash, loans removed without a payoff or charge-off, charge-off reversals and repurchases; document each exception and its resolution
• Perform the monthly reconciliation and close of the portfolio, producing the monthly loan-level record, delinquency roll reports, and charge-off, recovery, settlement and modification detail
• Maintain the division’s shadow accounting records for purchased loans, including interest accrual and non-accrual treatment, premium and discount amortization, charge-offs, recoveries and the allowance for credit losses; reconcile these records to the Bank’s general ledger and explain any variances
• Prepare portfolio management and accounting reporting for reviews on a regular basis, including portfolio returns against the division’s accounting return targets and actual performance against forecast
• Support the settlement of new loan pool and forward flow purchases, including closing statements, purchase price and accrued interest true-ups, and opening accounting entries
• Assist in the gathering, preparation and maintenance of required reports for internal stakeholders, such as Compliance, Risk, Credit and management committees, including servicer…