1. Michaeline Dugan
330 Rees Drive, King of Prussia, PA 19406
michaelinedugan@gmail.com
Cell: 484-919-5022
SUMMARY
Proactive, results oriented manager with over 25 years of experience in general accounting operations, financial
reporting, financial analysis and internal accounting control. Demonstrated ability to lead teams across the
organization; influencing business managers to develop and implement business process changes to enhance the
internal control environment. Proven experience to work in a fast paced environment; multi-tasking and delivering
results as required by Senior management.
EXPERIENCE AND ACCOMPLISHMENTS
OCWEN Financial Corporation – Fort Washington, PA Feb 2013 – Present
Senior Accounting Manager – Accounting Operations
• Manage a global team of accounting professionals between Bangalore, India and the United States.
Responsibilities include oversight of daily loan accounting operations and corresponding financial reporting
disclosures.
o Responsible for reconciliation and reporting of over $3b in mortgage assets.
o Led a global team of Business, IT contractor and Accounting professionals to develop an
automated interface to account for $500mm in loan asset transactions associated with the Lending
business channel.
o Responsible for oversight and monitoring of 250+ general ledger account reconciliations.
Manage an IT contractor to implement continual process improvement.
Successfully directed the contractor to build an MS Access database to record the daily
transactions and MS access databases to reconcile the corresponding asset accounts,
saving 40 hours of work per month.
Currently working with an IT programmer to build a more robust, push button, program to
automate the daily and monthly database in order to streamline and transition duties to
India.
• Instrumental in leading the development of accounting processes related to two major business
acquisitions.
o Co-led the team to implement general ledger accounting processes for the ResCap and Homeward
business acquisitions.
Ocwen’s purchase of ResCap -
• Developed accounting systems and processes to account for $3+b in assets and
associated liabilities on the Ocwen general ledger system.
• This effort encompassed changing general ledger interface feeds from ResCap’s
existing systems, training ResCap personnel on Ocwen’s general ledger system
and working with India IT operations to coordinate network and other technological
processes.
• ResCap accounting processes were integrated to Ocwen’s ledger within one
month of the acquisition date.
o Co-led the initiative to ensure there were appropriate financial controls related to the conversion of
1+ million loans from ResCap’s existing servicing platform to Ocwen’s platform. This
encompassed proper tracking and oversight of $2b of servicing advance assets.
o Assisted in the finance integration related to Homeward Residential Inc; a lending/servicing
organization acquired by Ocwen in December 2012. Supported activities to integrate loan
accounting processes across existing Ocwen infrastructure.
Residential Capital LLC (ResCap /GMAC Mortgage/Ally Bank) - Fort Washington, PA - March 1986 to Feb 2013
Accounting Director – Loan Accounting for Servicing
• Manage a team of 7 professionals responsible for the reconciliations of the servicing system daily loan
interface into the general ledger for 2 million loans.
• Oversight of the 7,000+ profiles on our loan servicing system that records cash & non-cash transactions to
the general ledger. Approximately 500,000 transactions record daily.
2. • Responsible for daily cash flows related to the loan servicing platform, including $2 billion servicing
advances that are used as collateral to sustain outside financial funding. My team is responsible for the
data compilation to support the three funding facilities, each requiring multiple daily detailed reports.
• Oversight of 300+ account reconciliations with minimal aged reconciliations. Ensure the team is trained to
identify root cause issues to minimize write-offs.
• Manage monthly close process in two business days providing accurate and timely information.
• Responsible for implementing/creating/maintaining SOX control frameworks and processes. Participate in
yearly walkthroughs and ensure my team follows controls on a daily/monthly basis.
• Point of contact for Internal and External audits for my areas of responsibility.
• Special Projects – including but not limited to:
o Created repository for servicing advance data used for quarterly reporting as well as support adhoc
request for Treasury, Capital Markets and Corporate Management.
o Managed a process to create servicing portfolio reports to facilitate SEC reporting.
o Produced general ledger training manuals for all Finance, which was used for new employees.
o Mentored and trained others outside of my team, as needed due to vacations or changes in job
responsibilities.
o Traveled as necessary for various integration projects.
Other Significant Accomplishments
• Supported due diligence for companies looking to bid on the purchase of ResCap, due to bankruptcy
filing..
• Led the creation and implementation of ResCap daily cash bankruptcy reporting required by the
bankruptcy courts. This required classifying all incoming and outgoing corporate cash by function.
• Completed a mid-month close due to ResCap bankruptcy, in addition to normal month end close. Took
the lead to ensure operational processes (system and report availabilities) related to all of Finance were
appropriately considered with business partners.
• Co-Managed with our Treasury department, the conversion of 50+ bank accounts from Wachovia to JP
Morgan. Due to the ResCap bankruptcy filing requirements, this needed to be transitioned within 4-6
weeks. All accounting, cash management and interface processes were uninterrupted.
• Collaborated with system programmers to create a database to facilitate Treasury daily reporting
requirements for multiple funding facilities. Under strict deadlines, maintained and modified the database
to support Treasury requirements.
• Worked with Servicing Operations to re-vamp the Servicing off-balance sheet cash flows to Corporate
cash flows to adhere to outside funding facility requirements. Created cash flow mapping for facilities.
Worked directly with FNMA and our Treasury team to create new servicing advance funding facility for
$250m in servicing advances.
Other Integration Related Initiatives
• Successfully integrated Minneapolis (MN) REO Loan Accounting to Fort Washington (FTW), with no
increase to headcount. The work included transitioning month-end close duties, 40 account
reconciliations and 10 financial reporting templates.
• Successfully integrated the FTW Mortgage Servicing Rights (MSR) accounting responsibilities into my
Servicing team. Although done quickly, as required, this transition was completed in a controlled manner.
As a result, 1 of the 2 full time equivalents transitioned to my team, absorbing the duties of the 2nd
full
time equivalent, who was re-deployed to another short-staffed team.
• Successfully integrated MN Corporate Accounting functions to Fort Washington. Although not my area of
responsibility, I was asked to complete the integration, as the MN team was given end dates and a FTW
Manager had not been appointed. I successfully hired, trained and transitioned responsibilities from MN
and 4 months later, transitioned to newly appointed Corporate Accounting Manager.
• Co-led the conversion of Smartstream to Peoplesoft general ledger. Ensured servicing interface process
was captured appropriately on the new ledger. Took responsibility across the Finance team to ensure the
Business Objects reporting tool was mapped correctly to produce accurate results. Ensured that all users
training needs were met.
SYSTEM SKILLS
• MS Office – Expert User of Excel and Access – Many examples of improved workflow using these
tools. Knowledgeable in Word and Powepoint.
• General Ledger - Peoplesoft / Smartstream / MS Dynamics
• Reporting & Reconciliation Tools - Business Objects / Blackline