PGIM REF - Accountant
PGIM Real Estate Finance ("PGIM REF") is one of the nation's largest full-service commercial, multi-family and agricultural real estate lenders. PGIM REF originates a wide variety of mortgage investments across its platform for Prudential's General Account, investment management clients, and other third-party capital sources (such as Fannie Mae, Freddie Mac, FHA, or other institutional investors).
Prudential Asset Resources (PAR) is a subsidiary of PGIM REF and is one of the largest commercial and multifamily mortgage servicing firms in the nation. Assets under management include CMBS, Fannie Mae, Freddie Mac, FHA, and insurance company general account loans. The Company is a rated Primary, Master, and Special Servicer. PGIM REF is a diversified mortgage lender with a 125-year commitment to the commercial real estate market.
PGIM REF is actively seeking a highly-motivated candidate to join its Agency and PAR Accounting team as a Senior Accountant . This position is based in PGIM REF's Dallas, Texas location. The position is responsible for the preparation of Agency mortgage loan journal entries corresponding to the life cycle of the loan (i.e., borrower deposit, rate lock, funding, and loan settlement) as well as maintaining the associated cash logs. Other related responsibilities include accounting for Mortgage Servicing Rights (MSR's), analytics (e.g., Revenue schedules and "Goal Posts"), PASS account reconciliations (Prudential's system for assuring materially correct Balance Sheet account balances), Agency state tax apportionment, Loan Fee accounting, debt (to fund loans) tracking, and creation of robust Policies and Procedures. This role reports to an Associate Manager and will require working closely and partnering with members of PAR's Investor Services, Investor Operations, Servicing & Asset Management teams, based in our Dallas office, and will also partner with PGIM REF Controllers and Finance Shared Services (FSS) teams based in New Jersey.
Primary responsibilities include, but are not limited to:
- Prepare Agency cash logs and corresponding journal entries
- Prepare mortgage loan accounting entries (including preparation of and maintaining the Agency Mortgage Loan Master Files which track loans at rate lock, funding and settlement).
- Review mortgage loan agreements to ensure use of correct interest rate and principal when preparing journal entries.
- Obtaining a solid understanding of the business in order to perform effective analytics (e.g. Revenue Schedules and Goal Posts).
- Prepare Balance Sheet reconciliations, and identify and institute account reconciliation efficiencies where warranted, in support of proper PASS account sign-off.
- Effectively partner across the organization with Investor Reporting, Investor Operations, Servicing, Asset Management, Portfolio Management, Controllers, Financial Reporting and IT to ensure effective communications across the platform.
- Prepare various analytical reports and support special projects on an as needed / Ad Hoc basis.
- Support Investor Reporting on an as needed basis.
- 3 years of relevant accounting experience
- Bachelor's degree in accounting preferred but will consider candidates with proven experience in accounting, financial reporting and analysis.
- Public accounting firm experience / CPA / MBA a plus but not required.
- Solid understanding of GAAP accounting principles.
- Strong accounting, research and analytical skills.
- Asset management industry experience a plus.
- Self-motivated and proactive (i.e., proactively assumes ownership of assigned tasks).
- Ability to work independently and as part of a team.
- Ability to drive process improvement.
- Strong computer skills (a firm working knowledge of Excel [required] and Prudential financial systems applications a plus), along with knowledge and use of Oracle GL systems a plus.
- Strong interpersonal, communication and partnering skills.
- Ability to work in a fast-paced, challenging environment.
- Positive "can-do" attitude.
- Ability and willingness to work extended hours during peak reporting periods and as needed for ad hoc projects / requests
- Ability and willingness to be flexible regarding work assignments (e.g., ad hoc requests and assisting the PAR Accounting and Investor Reporting team as needed)
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