Financial Analyst, Mortgage Insurance Fund

Company: MassHousing
Location: Revere
Posted on: June 20, 2022

Job Description:

Title: Financial Analyst, Mortgage Insurance Fund

Organization: MassHousing

Location: One Beacon Street, Boston, MA 02108

Position Closes: June 13, 2022

Website: https://www.masshousing.com



THE ORGANIZATION

MassHousing will confront the housing challenges facing the Commonwealth to improve the lives of its people. A bold mission for an innovative agency. Since its inception in 1966, MassHousing has provided more than $27.5 billion for more than 125,000 apartments and more than 105,000 home mortgage loans. Beyond lending, we also work to promote economic growth and empowerment for families, individuals, and businesses; help communities increase their housing stock; provide hope and homes for vulnerable populations, and look for new, cost-effective ways to provide equitable housing opportunities. We have a relentless determination to confront the Commonwealth's housing challenges and improve lives.



We know that we cannot meet our mission without a workforce that is committed to standing with us in our efforts. We achieve this by making investments in staff development and prioritizing individuals who align with our values including an unwavering dedication to diversity, equity, and inclusion.

As an employee of MassHousing you are offered a great career opportunity which is more than a paycheck. MassHousing' s total compensation package features an outstanding set of employee benefits which you should consider towards your overall compensation, including but not limited to:

Tuition reimbursement up to $10,000 per calendar year
A 35-hour work week and a hybrid work schedule
Back up Child/Elder Care
Retirement Savings including a pension and a deferred compensation plan (with a match)
Comprehensive health, dental and vision plans
12 paid Holidays per year and generous sick, vacation, and personal time
Short-Term Disability
Central Boston office location, convenient to public transportation and amenities on site



If you're ready to join our dynamic team of mission driven professionals, this might be the job for you! Interested candidates should send a letter of interest and a resume to MassHousing by logging in to https://prd01-hcm01.prd.mykronos.com/ta/6003873.careers?CareersSearch



Position Summary

Under the direct supervision of the Manager of the Mortgage Insurance Fund (MIF), the Financial Analyst of MIF will support both external and internal customers. The Financial Analyst will be responsible for review of mortgage insurance servicing functions such as: claim reviews, loss mitigation requests, releases of liability and assumptions, reinsurance matters, and ad-hoc, daily, monthly, and quarterly reporting to GSEs and reinsurers. The Financial Analyst will work closely with management and MIF team members to ensure the systems and portfolio remain accurate and up-to-date and will also collaborate with internal departments to provide input and complete servicing activities and organizational initiatives.



Specific Duties and Responsibilities



Review, perfect and coordinate processing of all MI claims from servicers.
Learn to handle and process all MIPlus matters submitted by borrowers and servicers.
Prepare bidding instructions for foreclosure sales and make recommendations on loss mitigation requests.
Work with risk analysts on releases of liability and mortgage assumptions.
Collaborate with Accounting department to ensure that all general ledger transactions regarding the MIF are reconciled.
Work closely with reinsurance partners on reporting and contractual issues.

Work closely with actuarial partners on quantitative risk analysis and reporting needs.
Identify and investigate impacts of market and loan risk factors, such as regional economic indicators, competitive intelligence, and housing policy changes.
Ensure payments of all MIF obligations are handled promptly.
Provide information to Accounting and MassHousing's audit firm to produce the annual MIF financial audit and quarterly review.
Collaborate with multiple partners to complete and submit quarterly reports to Government Sponsored Enterprises.
Partner with IT staff in working through system enhancements, issues, and resolution. Ensure systems logic aligns with operational processes. Recommend enhancements as needed.
Collaborate with Quality Control to gather and report QC results.
Provide updates to MassHousing's Information Statement and other bond-related documents.
Prepare monthly, quarterly, and annual servicing reconciliations and discuss trends with management.
Coordinate and prepare standard and ad hoc reporting using data analysis tools.
Perform other tasks and duties as assigned.



Knowledge, Skills and Abilities Required



Exceptional critical thinking and problem-solving skills.
Strong work ethic and the ability to work independently with minimal supervision, and as a member of a team.
Strong interpersonal and communication skills.
Effective time management and project management skills.
Proficiency with Microsoft Office Suite and competence in a variety of technological platforms and processes.



Minimum Education and Training



Bachelor's degree in accounting, finance, risk management, banking, economics, or related field. A background in mortgage, insurance or financial services analytical support is preferable.

Minimum of 5 years of increasing responsibilities in accounting/finance/risk management/mortgage-related business.
Technologically savvy and able to demonstrate competence in a variety of reporting and data analysis tools.



Salary Range: $72,956.00 to $94,842.00



All positions at MassHousing require a customer service mindset, in accordance with our values: Integrity, Excellence, Collaboration, Respect, Accountability and Service. Inherent in these values is our commitment to diversity, equity, and inclusion for all.



This position has been designated as "Flex" under MassHousing's Alternative Work Schedule (AWS)-hybrid work model which means; employee is in the office at least eight days a month.

As a condition of employment, successful applicants will be required to be fully vaccinated against COVID-19 or have an approved exemption as of their start date. Details relating to demonstrating compliance with this requirement will be provided to applicants selected for employment. Applicants who receive an offer of employment who can provide documentation that the vaccine is medically contraindicated or who object to vaccination due to a sincerely held religious belief may make a request for an exemption.





MassHousing is an Equal Opportunity Employer

Keywords: MassHousing, Revere , Financial Analyst, Mortgage Insurance Fund, Professions , Revere, Massachusetts