Our client, Pennymac Financial Services, Inc. (NYSE: PFSI) has retained us to bring them an Assistant Vice President for their Corporate Tax Department.
Pennymac is headquartered in Westlake Village, California. They also have a satellite office in Pasadena, California. Much of the company’s history and profile can be found at www.pennymac.com
Pennymac is a specialty financial services firm focused on the production and servicing of U.S. mortgage loans and the management of investments related to the U.S. mortgage market. It manages investments for Pennymac Mortgage Investment Trust (NYSE: PMT) a mortgage REIT.
The Assistant Vice President will assist with federal and state compliance and tax provisions for both PFST and PMT. This role will also coordinate responses to information requests from external tax preparers and auditors.
The compensation package for this leadership role will include a competitive base salary and a discretionary bonus targeted at 25%.
The Assistant Vice President will:
- Prepare and/ or review federal and state tax returns (or supporting work papers for external preparers), including estimates and extensions
- Manage the computation and review of the company’s consolidated income tax provision in accordance with ASC 740, including the effective tax rate (ETR), current tax payable, and deferred tax balances
- Work with Accounting, Forecast Group, Human Resources and others to obtain the information for tax computations, apportionment, state tax adjustments and other information needed for returns or provisions
- Assist with federal & state income tax audits and notices, including response to IDRs, analysis of proposed adjustments, and refund claims and resolution of notices
- Perform other related duties as required and assigned
- Demonstrate behaviors which are aligned with the organization’s desired culture and values
What You’ll Bring
- Bachelor’s degree in Accounting required; CPA, Masters in Tax or Tax attorney, is a plus
- 7+ years of public accounting or corporate tax experience
- Strong experience in corporate income tax return preparation in a multi-state environment
- Experience with ASC 740, SOX, and SEC reporting
- Knowledge and experience with corporate tax strategies, contracts and compliance
- Mortgage industry experience is a plus
- Excellent tax software skills and Microsoft Office computer skills, including Excel & Word
LEADERSHIP BIOGRAPHIES
Will Yang, Senior Vice President, Corporate Tax
Will joined Pennymac in 2024, focusing on tax technology and process improvements within the company’s daily tax operations. Prior to joining Pennymac, he held various positions in both public and private sectors, specializing in tax accounting and compliance for financial institutions. William earned his Master of Business Taxation (MBT) from the University of Southern California and his BA in Business Administration from the University of California, Berkeley.
Philip Cusack, Executive Vice President, Corporate Tax
Phil joined Pennymac in 2016 to lead the Pennymac Tax Department and is responsible for all corporate tax reporting and filings for both PFSI and PMT. He joined Pennymac from Deloitte’s Los Angeles office where he worked in the asset managmenet practice assisting financial services companies and investment groups with tax planning, provision and compliance. Phil earned his J.D. from the University of North Carolina and his B.S. in business administration from the University of Missouri.
Brandon Ohnemus, Managing Director, Finance Operations
Brandon Ohnemus is a 15-year veteran of Pennymac, having spent the past 5 years as a member of the finance division reporting to the CFO. Prior to that Brandon filled a number of roles during Pennymac’s early years contributing to both the Loan Servicing and Loan Origination functions. Prior to Pennymac, Brandon worked for Countrywide as a Financial Analyst and with Deloitte and Touche where he earned his CPA as an auditor. In addition, Brandon is a Chartered Financial Analyst (CFA) and earned his MBA from UCLA.
Dan Perotti, Senior Managing Director and Chief Financial Officer
Dan has been Pennymac’s Senior Managing Director and Chief Financial Officer since January 2021. Prior thereto, he served as the Company’s Deputy Chief Financial Officer from January 2017 to December 2020 and served as the Company’s Chief Asset and Liability Management Officer among other executive positions since 2008. He is responsible for overseeing the Company’s accounting and financial reporting, treasury operations, investor relations, financial planning and analysis, tax analysis, and Sarbanes-Oxley program. Prior to joining PNMAC, Dan was employed at BlackRock, Inc. and served as the head of the quantitative research team within its BlackRock Solutions business as well as in various other roles at BlackRock, Inc. from 2002 to 2008. Dan earned a B.A. in economics and computer science from Columbia University.
