Escrow Accountant

TX - Plano

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Busy Title Insurance Company in Plano is looking for an Escrow Accountant to assist and support the Controller. The ideal candidate will have accounting or bookkeeping experience either with a Title Insurance company, Escrow company or within the Real Estate industry, and working knowledge of basic real estate concepts.

Escrow Accountant Responsibilities:
  1. Daily matching of receipts written to actual deposits to all escrow accounts to ensure timely receipt and deposit of funds.
  2. Weekly monitoring of individual guaranty files and escrow bank accounts for shortages and determination of necessary transfers.
  3. Prepare monthly "shorts and overs " reports and follow-up with closing teams.
  4. Serves as back-up in opening and closing client directed escrow investment accounts, to include: preparation of monthly reports of escrow investments to CFO and posting to State Board of Insurance exhibit.
  5. Monthly bank reconciliation of all escrow accounts.
  6. Monthly review of outstanding escrow checks over 60 and 90 days old. Communication with closing teams and clients to ensure checks are cleared and disposition of funds are finalized.
  7. Coordinate with SoftPro support staff to produce various reports and solving various problems with the closing teams that might occur with the EAM module of the escrow accounting software.
  8. Maintenance and disposition of escrow funds eligible for escheat to Texas State Treasury. All reports and correspondence pertinent to Texas State Escheat reporting requirements.
  9. Compilation and review of working papers necessary for the preparation of annual Escrow Audit Report required by Texas Department of Insurance. Coordination with outside auditors for final submission to state.
  10. Daily postings of receipts and deposit schedule. Generation of weekly and monthly income reports and premium receivables schedules.
  11. Quarterly reconciliation and preparation of State Board of Insurance guaranty fee report.
  12. Preparation of commission reports paid to fee offices.
  13. Cross train in other duties of the Accounting Department.
  14. Perform other duties as may be assigned from time to time.
  1. Escrow accountant Requirements
  2. Some industry knowledge in accounting and/or title bookkeeping experience
  3. High school diploma or equivalent
  4. College Degree preferred
  5. Working knowledge of basic real estate title concepts, legal documents and how they affect title to real property
  6. Familiarity with title insurance commitment and policy format and all procedures required to prepare same including abstracting, title examinations, survey analysis, etc.
  7. Computer Proficiency with Microsoft Office Suite- strong Excel skills

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