Associate, 571 Claims Processing

3 weeks ago

Bengaluru, India Ocwen Financial Full time

:

- Associate, 571 Claims Processing

JOB FUNCTIONS AND RESPONSIBILITIES
- An Agency claims analyst handles advance reimbursement claims filing and all other associated activities to GSEs (Freddie Mac, Fannie Mae and PHH Master Servicing) on loans triggered through a liquidation event. These activities include but are not limited to:

- Reconcile advance transaction history against outstanding advance balances in the applicable receivable GLs (General Ledger Accounts)
- Analyze and identify the advance transactions reimbursable by the investor according to GSE/OMS guidelines
- Source all required documentation from iDesk, prior servicer systems or other sources available. If documentation is not received via any system, reach out to the BU and prior servicer, where applicable, who incurred the expense to get the documentation.
- Keep track of such documentation requests and escalate to management in cases of non-availability of documents and subsequent risk of claim denial
- File the claim on the investor portal with sufficient documentation and information as required by the GSE guidelines
- Process denied claims and submit supplemental claims to GSE as applicable after researching the denial reason and investor guidelines with compelling reasons
- If no recourses remain to get reimbursed by the investor, prepare loss claims to be submitted to prior servicers and/or vendors through bill-back recovery
- Perform loss analysis for the expenses denied by the GSE and cannot be billed back to vendors for recovery, and process them for write-off
- Perform balances reconciliation to ensure no outstanding advances are left unattended
- Perform aged balances reconciliation for reporting to senior management
- Perform payment posting activities to post the funds recovered from GSE on the MSP system

EDUCATION / EXPERIENCE
- B.Com / M.Com graduates with Finance & Accounting work experience preferred
- Ability to reconcile complex advance histories and receivable accounts preferred
- An analytical mindset to scrutinize advance transactions and identify claimable transactions per investor guidelines
- Excellent communication skills, primarily written communication
- Proficiency in MS Excel
- No documented disciplinary action in the past 12 months

WORK SCHEDULE OR TRAVEL REQUIREMENTS - NA

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