Senior Loan AccountantApply Now
Navient (Nasdaq: NAVI) provides asset management and business processing solutions to education, healthcare and government clients at the federal, state, and local levels. We help our clients and millions of Americans achieve financial success through our services and support. Headquartered in Wilmington, Delaware, Navient employs team members in Western New York, Northeastern Pennsylvania, Indiana, Tennessee, Texas, Virginia, and other locations. Learn more at navient.com.
The Sr. Loan Accountant is responsible for accounting for Navient’s private student loan assets, ensuring adherence to internal accounting controls and procedures, and working collaboratively with other departments. The incumbent will be responsible for accounting for multiple portfolios including Navient and third party serviced as well as Securitized Trusts. The position requires proven accounting and technical skills, excellent communication and effective time management in a deadline oriented accounting department.
Essential Job Functions:
1. Monthly Accounting
- Account for multiple Student Loan portfolios including both CLASS/FDR and externally serviced loans. Workload can include up to 10 non-Trust portfolios and 10 – 20 Trust portfolios.
- Maintain controls of loan assets. Understand and explain the activity within their portfolio. Be the expert of their assigned tasks for both Trust and non-Trust portfolios.
- Prepare monthly general ledger account reconciliations for all portfolios; update the PeopleSoft Tracker component and ensure timely follow up and resolution to reconciliation variances.
2. Buyback Activity Processing
- Process weekly buybacks in CLASS & FDR systems and prepare ACH requests as needed.
- Review servicing contracts & submit requests to Customer Profile Services (“CPS”) to set up/update buyback lender profiles in CLASS and submit requests to OPSYS to set-up/ update FDR buyback lender table (as needed).
- Monitor sa-buyback mailbox. Serve as a point of contact to other departments, as well as service coordinators, by responding to requests, providing general information about the buyback process and informing interested parties about the status of loans scheduled for buyback.
- Prepare Bills of Sales for buybacks process and support Litigation requests for buyback history related to court cases, working directly with Legal.
- Perform other weekly/quarterly buyback tasks.
3. Support Department Objectives/Projects
- Provide support for both internal and external audits as well as semi-annual Self-Assessments.
- Maintain detailed procedures for buyback process & supporting processes.
- Complete other projects as assigned.
- Bachelors Degree – Accounting and Finance
- 2 – 4 years experience in a fast-paced accounting department
- Excellent communication skills
- Expertise in Microsoft Office products, especially Excel
- Excellent analytical skills
All offers of employment are contingent on standard background checks. Navient and certain of its affiliated companies are federal, state and/or local government contractors. Should this position support a Federal Government contract, now or in the future, the successful candidate will be subject to a background check conducted by the U.S. Government to determine eligibility and suitability for federal contract employment for public trust or sensitive positions. Positions that support state and/or local contracts also may require additional background checks to determine eligibility and suitability.
EOE Race/Ethnicity/Sex/Disability/Protected Vet/Sexual Orientation/Gender Identity. Navient Corporation and its subsidiaries are not sponsored by or agencies of the United States of America.
Navient is a drug free workplace.