About FarmOp Capital
Founded in 2017, FarmOp Capital is a leading provider of innovative working capital solutions to American farmers. The Company’s proprietary, production-based lending approach provides high advance rate operating loans directly to growers. The size, term, and timing of FarmOp Capital loans provides greater marketing flexibility and enhanced purchasing power to an expanding segment of US producers.
We are a rapidly growing finance company addressing an important and growing gap in agricultural lending, providing operating loans to growers based on their ability to grow and manage their crop. Headquartered in St. Paul, Minnesota, FarmOp Capital fills a lending void that traditional sources of capital have restricted ability to underwrite, primarily due to the limited value that can be allocated to a growing crop.
As a known outcome-based lender, FarmOp Capital utilizes a proprietary, advanced technology lending platform to provide higher advance rates than traditional lenders, allowing growers to make more profitable and timely decisions.
The Company is backed by major global capital markets firms with a vision to be a leading provider of working capital solutions to production agriculture.
Job Description
The Loan Accounting and Finance Specialist plays an important role and has a significant impact on the overall customer experience at FarmOp Capital. The Loan Accounting and Finance Specialist’s will assist in processing loan disbursements and collections. FarmOp’s customers request funds to be disbursed from their loan in accordance with their operating loan’s budget. Upon FarmOp’s review and approval of the disbursement request, the Loan Accounting and Finance Specialist will initiate timely payment via check, ACH and wire. Throughout the life of the loan, payments are received from sources such as grain sales, hedging proceeds, insurance claims, and government subsidies. The Loan Accounting and Finance Specialist will ensure these funds are applied to the loan timely and accurately. In addition to keeping the books and records of each loan originated at FarmOp, the Loan Account and Finance Specialist will assist in generating reports to internal stakeholders and investors as well as issuing statements to borrowers. A successful candidate will demonstrate strong analytical, problem solving skills and attention to detail. This position reports directly to the Managing Director of Finance.
Responsibilities
1. Assist in managing the AP and AR of each FarmOp loan originated
2. Verify payment information and print and issue checks
3. Initiate payments in online banking systems via ACH and wire upon confirmation of payment instructions
4. Receive, research, and resolve a variety of routine internal and external inquiries concerning account status, including communicating the resolution of discrepancies to appropriate persons
5. Prepare and distribute customer statements
6. Reconcile bank statements and activity with loan transactions
7. Accurately apply loan payments in accordance with FarmOp policies and procedures
8. Assist with month end closing and preparation of performance and investor reporting
9. Maintain clear, consistent and professional lines of communication between all parties involved in process and escalate issues as required to Management in a timely manner to ensure effective resolution
10. Maintain daily workflow prioritization while meeting required deadlines
11. Demonstrate skills as a team player by providing superior customer service, while being flexible and approachable
12. Work closely with other departments in responding to inquiries and communicating loan statuses
13. Assist in ad hoc projects as needed
Competencies
1. Strong attention to detail and accuracy
2. Technical capacity and comfort with smart, technology-based systems and software
3. Strong understanding of accounting and banking principles and processes
4. Basic understanding of farming operations, federal crop insurance programs and agriculture commodity hedging programs and practices
5. Ability to work in a fast-paced environment under time constraints
6. Excellent problem solving and analysis skills
7. Ability to adapt to change quickly
Supervisory Responsibility
This position does not have supervisory responsibilities.
Work Environment
This job operates in a professional environment.
Physical Demands
This is largely an office-based position. Examples of typical office physical demands may include sitting at a desk and utilizing equipment such as a computer, laptop, cell phone, etc. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
Position Type and Expected Hours of Work
This is a full-time salaried position.
Travel
This position doesn’t require regular travel; however, occasional travel may be required as necessary.
Required Education and Experience
· Bachelor's degree in accounting, finance, agricultural business or related field; or an equivalent combination of education and experience
· 2+ years’ accounting and/or financial experience
· Agricultural lending experience strongly preferred
Benefits
FarmOp offers a competitive benefits package including health, dental and vision insurance, 401K contribution and paid time off.
An Equal Opportunity Employer
The Company does not discriminate on the basis of race, color, national origin, age, religion, veteran status, marital status, sexual orientation, or gender or any other protected characteristic; and it will comply with all applicable federal, state, and local discrimination laws. No person shall be denied employment solely because of any disability which is unrelated to the ability to engage in the essential functions involved in the position for which application has been made either with or without reasonable accommodations.
Other Duties
Please note this job description is not designed to cover or contain a comprehensive listing of activities, duties or responsibilities that are required of the employee for this job. Duties, responsibilities, and activities may change at any time with or without notice.