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Cost Control Project Manager - Servicing at Flagstar Bank

Posted in Other 30+ days ago.

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Location: Troy, Michigan

Job Description:
Job Summary
The Cost Control Project Manager is responsible for identifying areas of opportunity to reduce cost or build efficiencies throughout the performing servicing teams, coordinating key stakeholders to participate in business case creation, project kick off, define requirements throughout all project phases, testing, training, manual updates and benefit realization.

In addition to performing the project management responsibilities above this role will also perform the following:

Manages overall complex task of invoicing for all of servicing. Looks for gaps of exposure for overage, underpayment and potential risks to the bank. Client contact is required to handle disputes, develop new reporting based on client and Flagstar needs. This position will analyze line item profitability across each Business Unit for each Client contract and propose contractual changes to increase profitability. This position is required to develop reports and dashboards as well as to ensure that Flagstar is in compliance with the regulations of our Investors and Regulators.

Regular maintenance of Flagstar's Performing Servicing reporting on the Flagstar Sub-Servicing portfolio. This represents a high-risk and critical function, as the data will be used for internal quality control, performance measurement and may be shared with Flagstar's clients. Works with Flagstar Sub-Servicing business units to understand their processes and reporting needs. Responsible for understanding and developing ad-hoc management reporting, monthly production targets, monthly KPI reports and various ancillary analyses. Must have working knowledge of MSP and BKFS ancillary technology solutions, as well as strong skills with Excel and other database management tools.

Job Responsibilities:

(20% of time) Developing & Creating analytical reports for strategic gap analysis on the profitability of the Sub- Servicing business (overall and line-by-line expenses across all Servicing Business Units). Work closely with business units to report and analyze monthly operating results.

(20% of time) Develop and hold business processes accountable for monthly production targets, and analyze actual results versus those targets, then defining, implementing and completing cost control and efficiency initiatives. Provide reporting and oversight on all assigned Management Projects.

(20% of time) Developing program for and complexity within subservicing client invoice produce, review, rebuttal process which includes without limitation: Gather and verify data from multiple systems to prepare monthly Sub- Servicing Client invoices inclusive of sub-servicing fees, loss mitigation fees, contractual expenses, contractual credits and miscellaneous items which comply to the terms of each contract (acquisition specific) with every Sub- Servicing Client. All financial content must be reconciled with Accounting and the General Ledger data prior to delivery. Delivery must occur by the pre-scheduled due dates for each Client. IT and Business Unit issues related to invoice content must be identified, resolved/escalated to ensure contractual compliance.

(20% of time) Performing STARS Updates, Assist with creation and maintaining of Performing Servicing dashboard and data outputs.

(20% of time): Other
  • Demonstrates a high level of creativity and critical thinking to address problems decisively and develop effective solutions. Reinforces culture of shared ownership and accountability for results.
  • Effectively communicate with senior and executive level managers on all matters related to position. Communicate and execute change within the team and organization

Job Requirements:
  • Master's Degree Required (Business Administration or similar financial field)
  • 6 to 8 years financial services experience, servicing and mortgage preferred
  • 5+ years' experience with cost control data analytics experience, project management experience, or a combination thereof.3+ years of in depth (use and optimization experience required) MSP systems knowledge or other comparable systems and reporting tools, required.2+ years' targeted experience in mortgage servicing financials including an understanding of both the costs of servicing, corporate advance, contractual expenses & expense reimbursement.
  • Strong analytical experience in profitability in cost structures
  • MSR billing experience a must
  • Vendor Relationship Management is critical to this roles success
  • Problem solving and conflict resolution, accurate in execution, able to solve complex problems.
  • Ability to quickly learn and retain knowledge of process steps for a multiple number of different daily tasks.
  • Strong technical and working knowledge of MSP system
  • Excellent verbal and written communication skills in order to present data driven metrics to executive leaders across servicing.
  • Proven adherence to data integrity and accuracy.
  • Excellent organizational and time management skills.
  • Proven ability in collaboration and working with others in teams.
  • Expert skills in Microsoft office especially Excel - Working with spreadsheets is an essential skill. Working knowledge of Microsoft Outlook preferred
  • SQL experience preferred
  • PMP Certification preferred
  • The job requires a moderate degree of physical exertion and stamina such as standing, sitting, walking, driving or infrequent lifting. Extensive periods of sitting and computing.