Escrow AccountantTX - Plano
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:
- Daily matching of receipts written to actual deposits to all escrow accounts to ensure timely receipt and deposit of funds.
- Weekly monitoring of individual guaranty files and escrow bank accounts for shortages and determination of necessary transfers.
- Prepare monthly "shorts and overs " reports and follow-up with closing teams.
- 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.
- Monthly bank reconciliation of all escrow accounts.
- 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.
- 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.
- Maintenance and disposition of escrow funds eligible for escheat to Texas State Treasury. All reports and correspondence pertinent to Texas State Escheat reporting requirements.
- 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.
- Daily postings of receipts and deposit schedule. Generation of weekly and monthly income reports and premium receivables schedules.
- Quarterly reconciliation and preparation of State Board of Insurance guaranty fee report.
- Preparation of commission reports paid to fee offices.
- Cross train in other duties of the Accounting Department.
- Perform other duties as may be assigned from time to time.
- Escrow accountant Requirements
- Some industry knowledge in accounting and/or title bookkeeping experience
- High school diploma or equivalent
- College Degree preferred
- Working knowledge of basic real estate title concepts, legal documents and how they affect title to real property
- Familiarity with title insurance commitment and policy format and all procedures required to prepare same including abstracting, title examinations, survey analysis, etc.
- Computer Proficiency with Microsoft Office Suite- strong Excel skills