Ushang Jain
Chennai
Summary
A competent professional with approx. 10 years of experience and solid background in the mortgage industry, blending expertise in Financial Reporting & Reconciliation, Audit Functions, First Line of Defense (FLoD), Variance analysis & General Ledger. Proficient in identifying process improvements and ensuring regulatory compliance. A detail-oriented professional committed to upholding integrity and delivering valuable insights to drive organizational success.
Overview
8
8
years of professional experience
1
1
Certification
Work History
Senior Analyst - IS FLOD & Audit Support
Mr. Cooper
04.2019 - Current
- Conducted comprehensive FLOD testing at Mr. Cooper, focusing on business process and operational controls.
- Identified control deficiencies, derivations from established standards, and potential areas of risk through rigorous testing and analysis.
- Documented testing results, observations and recommendations in clear and concise workpapers, ensuring accuracy and compliance with auditing standards.
- Validated the flow of all payments received start from borrower to the custodial accounts as per Reg AB guidelines.
- Identified various process improvements by providing automation ideas.
- Assessed controls to identify risks or problems to determine appropriate responses.
- Worked on Automation Bot project to streamline the GNMA Payment Trace process.
- Identified and suggested various automation ideas for few of the Audit processes.
Senior Analyst - Investor Services
Mr. Cooper
02.2016 - 03.2019
- Responsible for monthly reconciliation of various General Ledger’s and
custodial bank accounts. - Perform review of Reconciliations for about 50+ portfolios month-on-
month and analyzing internal / external movement of funds in accordance with the terms provided by the investors. - Coordinate with external parties to resolve queries, escalating trust
inquiries including discrepancies arising in the remittance report,
identifying the root cause and clearing the 90 days+ recon items in every investor’s portfolio. - Undertake detailed analysis and research of individual loans for any
discrepancies and providing remediation to the other business units. - Documentation of cash flow and reconciliation reports.
- Responsible for clearing reconciling items within 90 days to stay in
compliance. This included rigorous follow ups with various internal teams. - Worked on Wells Liquidation project, addressing outstanding P&I Advance outages within custodial accounts.
Lead Analyst - Investor Accounting
Ocwen Financial Solutions Private Limited
- Analysis and Reconciliation of custodial accounts, bank statements & GL balances
- Responsible for analyzing the flaws in cash flow between company and trust and clearing them within threshold of 89 days
- Monitoring the flow of funds from Borrower to the Investor and keeping check on other departments that are involved in the cash flow
- Responsible for Balance sheet item reconciliation and issue resolutions
- Processing journal entries to various accounts in order to spot on the book entries
- Communicating with concerned departments to resolve variances during Reconciliations
- Working on additional projects in accordance with the Department's Requirements and completing it within the specific timelines
- Ad - hoc analysis and providing required information on an urgent basis
- Ensure that REG AB compliance is met throughout the year.
Education
MBA - Finance
PES Institute of Technology
Bangalore07-2013
B.Com -
D.G.Vaishnav College
Chennai06-2011
Skills
- Auditing procedures
- Variance Analysis
- Decision-Making
- Excellent Communication
- Teamwork and Collaboration
- Organizational Skills
- Time Management
- Precision and Accuracy
- Analytical Skills
- Regulations and compliance
Languages
Hindi
First Language
English
Proficient (C2)
C2
Tamil
Elementary (A2)
A2
Certification
- Cricket
- Travelling
- Movies
- Gaming
Timeline
Senior Analyst - IS FLOD & Audit Support
Mr. Cooper
04.2019 - Current
Senior Analyst - Investor Services
Mr. Cooper
02.2016 - 03.2019
Lead Analyst - Investor Accounting
Ocwen Financial Solutions Private Limited
MBA - Finance
PES Institute of Technology
B.Com -
D.G.Vaishnav College
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