Loan Accounting Specialist

RIHousing – Loan Accounting Specialist

Salary - $54,802.00 - $68,503.00

Please note: This pay range represents the base annual full-time salary for all positions within this job grade. The actual salary offered will depend on factors such as experience and other job‑ related‑ qualifications.

What we are all about:

We are seeking a dynamic professional to join our Loan Servicing team as a Loan Accounting Specialist. This role supports the multifamily loan portfolio by executing daily loan accounting activities, including processing construction loan advances, principal advances, reserve deposits and disbursements, escrow activity, loan‑level reconciliations, and research. The position also oversees insurance and real estate tax escrow functions for multifamily properties and provides responsive customer service to property owners, borrowers, and management agents.

Success in this role requires strong analytical skills, the ability to manage multiple priorities, and adherence to regulatory, legal, and investor requirements.

This is a hybrid position based in Providence, Rhode Island, where you will be an integral part of our Loan Servicing team. The role is designed for face-to-face collaboration and direct involvement in our office environment.

What you’ll do daily:

• Process Development Division requests for multifamily construction projects with complex funding sources, ensuring accurate disbursements, multi‑payee funding, and strict adherence to wire processing controls.
• Set up and maintain recurring and one‑time ACH payment drafts.
• Process and post requisitions from principal and reserve accounts.
• Complete annual audit confirmation requests.
• Receive and process surplus cash payments in accordance with loan agreements.
• Research and reconcile loan payments, including escrow and reserve balances, resolving discrepancies as needed.
• Review and analyze replacement reserve requests to ensure compliance with investor, regulatory, and loan document requirements.
• Review, analyze, and promptly process insurance and real estate tax invoices in accordance with loan guidelines to minimize risk.
• Coordinate with third‑party tax vendors and municipal tax collectors to process real estate tax payments, including those involving multiple parcels or subdivisions.
• Calculate and implement changes to monthly insurance and real estate tax escrow collections based on annual escrow analysis.
• Ensure required property insurance coverage is maintained in accordance with established guidelines for all applicable policy types (e.g., general liability, builder’s risk).
• Process adjustments to loan‑level reserve billings in accordance with regulatory guidelines and legal documentation.
• Review and update monthly billing statements.
• Maintain regular communication with internal and external partners, including insurance agents, municipal tax collectors, management agents, and auditors.
• Review and interpret loan documents, such as Notes, Loan Agreements, and legal descriptions, to ensure compliance with legal, regulatory, and investor requirements.
• Contribute to special projects that enhance loan servicing efficiency.

What success looks like in this position:

• Minimum three years of accounting/audit experience or loan servicing experience, preferably in the public sector
• Excellent verbal and written communication skills
• Experience with MS Office, including spreadsheets, use of Smartsheet, ShareFile, and loan accounting systems
• Attention to detail, adherence to time-sensitive deadlines, and critical thinking skills
• Associate's degree in accounting, business, or related field preferred

Not sure if you meet all the qualifications? Let us decide!

Why RIHousing:

• Mission-Driven Organization
• Mentorship Program
• Lunch and Learn series
• Employee Recognition programs
• Dedicated Workforce
• Parking Stipend
• Medical/Dental/Vision/Life Insurance
• Paid Time Off
• Retirement Options
• Flexible Work Hours- If Position Eligible, Future Hybrid Work May Be Available
• Education Reimbursement
• Onsite Fitness Classes
• Volunteer Days
• Winner of “Best Places to Work” 2016, 2018, 2019, 2021 – 2026
• Greater Providence Chamber of Commerce Worksite Health Award 2013 – 2026
• PBN's Healthiest Employers of RI 2025 & 2026

About RIHousing

RIHousing works to ensure that all people who live in Rhode Island can afford a healthy, attractive home that meets their needs. RIHousing provides loans, grants, education, and assistance to help Rhode Islanders find, rent, buy, build, and keep a good home. Created by the General Assembly in 1973, RIHousing is a self-sustaining corporation and receives no state funding for operations.