Back to the main page!

AccountingRecruiter.com > Job Listings > Back
 Job Listings

Financial Reporting Associate | Prudential Financial | Newark, NJ

Prudential Financial, Inc. is a multinational financial services leader with operations in the United States, Asia, Europe, and Latin America. Leveraging its heritage of life insurance and asset management expertise, Prudential is focused on helping individual and institutional customers grow and protect their wealth. The company's well-known Rock symbol is an icon of strength, stability, expertise and innovation that has stood the test of time. Prudential's businesses offer a variety of products and services, including life insurance, annuities, retirement-related services, mutual funds, asset management, and real estate services. For more information, please visit www.prudential.com.

PIM Overview:
Prudential Investment Management ("PIM") represents the asset management businesses of Prudential Financial, Inc. and is one of the nation's largest asset managers with investments worldwide. The organization is looking for a Senior Accountant in its finance department in the commercial mortgage subsidiary supporting the Fannie Mae Agency businesses.

Detailed Background:
Prudential Mortgage Capital Company (PMCC) is a full service commercial mortgage provider of multifamily, affordable housing, retail, office, industrial and hotel properties. PMCC's product line includes fixed rate, floating rate and interim/bridge loans; Fannie Mae and FHA lending; and mezzanine financing.

PMCC originates a wide variety of commercial mortgage loans for placement into Prudential's General Account, or for purchase by other third party capital sources such as Fannie Mae, FHA, and other institutional investors.

Prudential Mortgage Capital is comprised of the following areas:
  • Originations
  • Underwriting and Closing
  • Portfolio Management
  • Affordable Housing Finance
  • FHA Lending (Prudential Huntoon Paige)
  • Fannie Mae (Prudential Multifamily Mortgage Inc.)
  • Commercial Mortgage Servicing (Prudential Asset Resources)
  • Institutional Funds Management (Prudential Real Estate Fixed Income Investors)
  • Agricultural Lending (Prudential Agricultural Investments)

PMCC is an approved Delegated Underwriting and Servicing (DUS) provider of Fannie Mae loans. PMCC funded $1.6 billion of Fannie Mae loans in 2007. Additionally, PMCC is one of the largest Fannie Mae commercial mortgage lenders in the United States.

Responsibilities:
The overall responsibilities will include the following:
  • Serve as a liaison with Business Group Management, Operations and Finance.
  • Assist in preparation of GAAP financial statements to ensure accurate and timely filing of all reporting obligations. Compilation of monthly results into various corporate presentation formats.
  • Closing the monthly general ledger. The close process includes preparing journal entries and entering them into general ledger (Oracle) for accruals, expense allocations, Fannie Mae loan activity, servicing, etc. Person will work on closing the books to ensure accurate timely results for management review.
  • Partner with the rest of the Agency and Servicing Finance team.
  • Communicate business unit results to PMCC leadership.
  • Process cash transactions for the entity, which includes wire transfers, monitoring cash activity (cash logs), preparing bank reconciliations.
  • Monitoring of warehouse debt, loan closing and sales, wire transfers for debt paydowns.
  • Monitoring of servicing advances, borrowings and repayment of warehouse line.
  • Prepare general ledger reconciliations of various balance sheet and income statement accounts.
  • Compile/prepare quarterly workpapers for management review.
  • Prepare quarterly MBA report, Net Worth and Liquidity report and annual FRA report.
  • Prepare monthly revenue package and review monthly results with business unit.
  • Coordinate revenue forecast and variance analysis of budgets to actual results for revenue components.
  • Assist in preparing schedules for annual audit and various regulatory reporting.
  • Handle various ad-hoc requests.

Qualifications:
  • Understanding of GAAP accounting and reporting, a requirement.
  • Accounting degree, a requirement
  • Commercial mortgage experience a plus.
  • Proficiency in Excel.
  • Good analytical and organizational skills.
  • Good inter-personal skills and a 'team-player'.
  • Knowledge of Oracle general ledger a plus.
  • 1 to 3 years experience, public accounting experience a plus.
  • CPA/CPA candidate a plus.
  • Willingness and a strong desire to learn.

Comments:
Overtime required during peak reporting cycles.

Prudential is an Equal Opportunity/Affirmative Action Employer and is committed to diversity in its workforce.

Prudential is not seeking assistance or accepting unsolicited resumes from search firms for this employment opportunity unless contracted with Staffing. Agencies must work with Staffing as the primary point of contact and follow the Prudential application process to be considered for business. Regardless of past practice, all resumes submitted by search firms to any employee at Prudential via-email, the Internet or directly to hiring managers at Prudential in any form without a valid written search agreement in place for that position will be deemed the sole property of Prudential, and no fee will be paid in the event the candidate is hired by Prudential as a result of the referral or through other means. Note: Any search agreement entered into with Prudential before January 2004 is null and void. Search firms are essential to the recruitment and staffing efforts at Prudential and we value the partnerships we have built with our preferred vendors. For this reason, Prudential has established and regularly maintains a preferred vendor list. Please note that even preferred vendors need to have a written search agreement signed by the Director, Recruiting Programs, Staffing at Prudential in place for the specific position in order for a fee to be paid for any candidate referrals.

To apply for this position, please copy and paste the following link into your browser address bar: http://prudential.contacthr.com/10973813 or submit your resume and salary requirements through our homepage at https://jobs.prudential.com/apply_online_1.asp?jobid=1266565