Consumer Loan Servicing Manager manages the loan servicing function to deliver efficient collections, escrow, and cashiering operations. Establishes processes and procedures to maintain accuracy and completeness of required documentation. Being a Consumer Loan Servicing Manager sets operating performance metrics and standards for speed, quality, and customer service. Oversees the preparation of reporting for internal departments and external agencies. Additionally, Consumer Loan Servicing Manager coordinates audit requests and processes. Develops training and communication mechanisms that inform the team of regulatory requirements and updates. Typically requires a bachelor's degree. Typically reports to a senior manager or head of a unit/department. The Consumer Loan Servicing Manager manages subordinate staff in the day-to-day performance of their jobs. True first level manager. Ensures that project/department milestones/goals are met and adhering to approved budgets. Has full authority for personnel actions. To be a Consumer Loan Servicing Manager typically requires 5 years experience in the related area as an individual contributor. 1 - 3 years supervisory experience may be required. Extensive knowledge of the function and department processes. (Copyright 2024 Salary.com)
Please read this posting carefully. The position requires experience in the back-end servicing of Commercial loans - Those that are already on the books. Retail banking or mortgage skills are not transferrable.
This is not a remote position.
TITLE: Loan Servicing Specialist
REPORTS TO: SVP Operations
DEPARTMENT: Loan Servicing
FSLA: Exempt
JOB SUMMARY:
This role is responsible for the timely and accurate maintenance and oversight of all commercial loan files and documentation. The Loan Servicing Specialist is integral in the loan life cycle; ensuring all documentation, record keeping, and reconciliation is current and accurate. This position must effectively and proactively communicate with internal and external customers in continued efforts to support compliance, tracking, and reporting.
EXAMPLES OF KEY DUTIES: (Duties are illustrative and not inclusive and may vary with individual assignment.)
Ø Acts as primary resource for all servicing issues related to loans. Research and resolve issues related to posting errors and customer inquiries. Escalate to management for more complex issues where appropriate and maintain confidentiality.
Ø Process necessary adjustments to accounts resulting from return items and/or misapplied funds
Ø Review participation loans; perform reporting and remittance process for participant Banks in timely and accurate fashion, review remittance reports and payments received for accuracy, apply payments as appropriate.
Ø Process necessary adjustments to accounts resulting from return items and/or misapplied funds
Ø Ensure accurate and complete setup of all new loans.
Ø Scan and/or review all documents, agreements, and maintenance back up into Synergy.
Ø Prepare monthly SBA report(s) as needed, perform remittance process.
Ø Process UCC and Mortgage discharges.
Ø Monitor insurance via third party tracking system to ensure adequate coverage, new or renewed policy information, and force placed insurance.
Ø Process, review, and report on changes, payments, and delinquency data for all applicable loans
Ø Develop and maintain procedures, as necessary.
Ø Work with SVP Operations and staff as necessary for all program enhancements and annual releases.
Ø Provide support for customer problems, balancing problems, and various other problems.
Ø Responsible for complying with internal procedures and operating in a manner to meet statutory and regulatory requirements.
Ø Performs other various duties as assigned.
QUALIFICATIONS:
Education and Experience:
Required Skills:
PHYSICAL DEMAND AND EQUIPMENT USED:
Must be able to sit, walk or stand for extended periods
Must be able to travel to branch locations
Must be able to travel for business related matters
General Office environment
General Office equipment
Job Type: Full-time
Benefits:
Schedule:
Application Question(s):
Experience:
Work Location: In person
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