Funder Position Available In Mecklenburg, North Carolina
Tallo's Job Summary: The job of a Funder at Galbreath Costner, LLC involves managing trust account funds with precision and compliance. Responsibilities include posting funds accurately, managing documentation, balancing files, setting up outgoing transfers, and communicating effectively with stakeholders. Entry-level experience in real estate closings is preferred. The salary ranges from $18.00 to $26.50 per hour, with additional benefits such as a 401K, medical insurance, and unlimited PTO.
Job Description
Funder Galbreath Costner, LLC 4520 Mint Hill Village Lane, Mint Hill, NC 28227 The funder encompasses the management of trust account funds, both incoming and outgoing, ensuring precision and compliance in financial transactions.
RESPONSIBILITIES
Key Responsibilities:
Receipt and Posting of Funds:
Post received funds accurately to the appropriate closing files, including Earnest Money Deposit (EMD) checks/wires, incoming lender wires, buyer wires, and cash to close. Ensure the timely and accurate recording of all financial transactions related to real estate closings.
Document Management:
Save wire confirmations and deposit confirmations systematically in the corresponding closing files. Maintain organized and complete documentation related to financial transactions for audit purposes.
Balance Confirmation:
Confirm that the closing file is in balance, and expected funds are receipted according to the transaction details. Identify and resolve any discrepancies in the fund balances promptly.
Outgoing Wires and Ledger Transfers:
Set up outgoing wires and ledger transfers accurately based on the transaction requirements. Release outgoing wires and ledger transfers in compliance with security protocols.
Communication and Notification:
Notify the closing team promptly when earnest money is received, ensuring timely file opening procedures. Communicate effectively with internal and external stakeholders regarding fund-related updates and requirements.
Payoff Verification:
Verify payoff wires and ensure accurate and timely processing of payoffs. Collaborate with relevant parties to resolve any issues related to payoff verification.
Stop Payments:
Input stop payments in the bank and SoftPro as needed, ensuring proper documentation and compliance with procedures. Monitor and manage the banking beneficiary list effectively.
Objectives:
Timely and Accurate Fund Processing:
Objective:
Ensure all received funds are processed accurately and promptly posted to the appropriate closing files.
Documentation Compliance:
Objective:
Maintain complete and organized documentation for all financial transactions to comply with audit and regulatory requirements.
Balanced and Reconciled Files:
Objective:
Achieve consistently balanced closing files, minimizing discrepancies and ensuring accurate fund reconciliation.
Efficient Outgoing Transfers:
Objective:
Set up and release outgoing wires and ledger transfers efficiently, adhering to security protocols and transaction requirements.
Proactive Communication:
Objective:
Notify the closing team promptly about the receipt of earnest money, facilitating timely and organized file openings.
Payoff Verification Accuracy:
Objective:
Verify payoff wires accurately, ensuring a smooth and error-free process for the payoff of financial obligations. Compliance with
Banking Procedures:
Objective:
Ensure compliance with banking regulations, including the accurate input of stop payments and effective management of the banking beneficiary list. Qualifications/Core compentencies
Qualifications:
Experience:
Entry-level but experience in real estate closings or a similar role is favored. Familiarity with real estate transactions, banking procedures, and financial documentation is a plus.
Technical Skills:
Proficient in using financial software and tools. Knowledge of banking systems and wire transfer processes. Experience with real estate closing software, such as SoftPro.
Regulatory Knowledge:
Understanding of real estate closing regulations and compliance requirements. Knowledge of relevant banking regulations related to wire transfers and deposits. Attention to
Detail:
Strong attention to detail to accurately post and reconcile funds. Ability to verify and manage documentation, including wire and deposit confirmations.
Communication Skills:
Effective written and verbal communication skills to collaborate with the closing team and external stakeholders. Ability to notify the team promptly about the receipt of funds or other important updates.
Core Competencies:
Financial Accuracy:
Demonstrated ability to accurately post and reconcile funds in real estate closing transactions. Thorough understanding of financial documents and attention to detail in managing fund balances.
Organizational Skills:
Efficient organization of closing files, including saving wire confirmations and deposit confirmations systematically. Ability to manage multiple tasks simultaneously and prioritize workload.
Wire Transfer Management:
Proficiency in setting up outgoing wires and ledger transfers accurately. Knowledge of release processes and adherence to security protocols.
Proactive Communication:
Proactively notifying the closing team about the receipt of earnest money and ensuring file opening procedures are completed promptly.
Problem Solving:
Ability to identify and resolve discrepancies in file balances and funds received. Quick and effective resolution of payoff wire verifications and any other issues related to funds.
Banking Procedures:
Competence in managing banking beneficiary lists and inputting stop payments in both the bank and SoftPro. Adherence to banking regulations and compliance standards. Success Factors Accuracy and Attention to
Detail:
The ability to accurately post funds, reconcile accounts, and manage financial details with precision is crucial for success. Attention to detail ensures that all transactions are error-free, minimizing discrepancies and potential issues.
Timeliness and Efficiency:
Success in this role is often measured by the ability to work efficiently and meet tight deadlines. Timely processing of funds, setting up outgoing transfers promptly, and quick resolution of issues contribute to the overall efficiency of the real estate closing process.
Communication Skills:
Effective communication with the closing team, lenders, clients, and other stakeholders is essential. Clear and proactive communication ensures that everyone is informed of fund-related updates, facilitating smooth and collaborative transactions.
Problem-Solving Abilities:
The ability to identify and resolve issues related to fund discrepancies, payoff verifications, or other financial matters is crucial. Successful Funders can analyze problems and implement effective solutions in a timely manner.
Organizational Skills:
Strong organizational skills are vital for managing multiple tasks, handling documentation, and keeping closing files in order. Well-organized files contribute to the overall efficiency of the closing process and facilitate easy access to information.
Compliance and Regulatory Knowledge:
Success in the role requires a strong understanding of banking regulations, compliance standards, and real estate closing procedures. Adherence to these regulations ensures that all transactions are conducted legally and ethically.
Collaboration and Teamwork:
Real estate closings involve collaboration with various team members, including escrow officers, title agents, and lenders. Success in this role is often tied to the ability to work seamlessly with others, contributing to a cohesive and effective closing team.
Customer Service Orientation:
Providing excellent customer service to clients, buyers, and sellers is essential. A customer-focused approach contributes to positive relationships and satisfaction, reflecting well on the overall success of the real estate closing process.
Adaptability:
The real estate industry can be dynamic, with transactions varying in complexity. Successful Funders are adaptable to changing circumstances, industry updates, and evolving technologies, ensuring they can navigate different scenarios effectively.
Ethical Conduct:
Adhering to high ethical standards is a fundamental success factor. Trust is paramount in real estate transactions, and maintaining ethical conduct contributes to a positive reputation and long-term success in the role. Salary Details Full-time, Hourly Tier 1: $18.00-$22.50 Tier 2: $21.00-$26.50 Team Lead 2+
Years Experience Benefits Package Including:
Safe Harbor 401K Safe Harbor 401K matching/instant vesting Medical Insurance with HSA or FSA options Dental Insurance Vision Insurance Child/Spouse/Employee Voluntary Life Insurance Employer Paid Group Life Insurance (10K) Short Term Disability Long Term Disability Cancer/Accident/Hospital Ancillary Policies Unlimited PTO 5 Unplanned PTO days Bereavement Days Employer paid lunches during busy end of month
