Job Information
Main Street Bank Loan Servicing Assistant Manager in Marlborough, Massachusetts
Loan Servicing Assistant Manager
Job Details
Level
Management
Job Location
Headquarters - Marlborough, MA
Position Type
Full Time
Salary Range
$90,000.00 - $105,000.00 Salary/year
Job Category
Banking
Description
Title: Loan Servicing Assistant Manager Salary Grade:
FLSA Status: Exempt Employment Status:Full Time
Department: Loan Servicing Location:Headquarters/Hybrid EligibleReports To: VP Loan Servicing
Date Prepared: August 7, 2024 Human Resources Review:August 7, 2024
SUMMARY: Reporting to the Vice President of Loan Servicing, the Loan Servicing Assistant Manager’s role is to ensure the general flow of the Department. As it is crucial for maintaining efficiency, productivity and a positive work environment in a high demand. In this role the incumbent will be responsible to perform functions necessary within scope of authority to provide the highest level of service and responsiveness to customers, including performing loan maintenance, Quality Control, booking of new loans to the core system, collections, trouble shooting, resolving complex issues and ensuring adherence to regulatory compliance requirements.
Additionally, it is expected that this position will assist with projects that affect the department and the Bank, acting as a resource for other team members in the Loan Servicing Department and embrace the established sales and service culture to maximize their contribution to the Bank’s goals.
After successful completion of training and proven abilities, this position is eligible for a hybrid work arrangement, consistent availability is expected during core business hours and agreed upon number of days per-week/month on site.
ESSENTIAL DUTIES and RESPONSIBILITIES:
Statements included in this description are intended to reflect in general the duties and responsibilities of this classification and are not to be interpreted as being all inclusive , other duties may be assigned. To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
Takes a leadership role while completing high-level duties and assignments and provides guidance, error resolution and support to team and customers with complex and difficult tasks. Including managing workflow and volumes.
Responsible for monitoring the day-to-day functions of the department to ensure all necessary tasks are complete and accurate as well as daily hands-on support of the routine tasks for the servicing of the commercial, residential and consumer loan portfolios.
Assist with the direction and administration of all aspects of loan servicing including but not limited to: Data Integrity, reporting, data management, system administration, Quality Control and booking of new loans to the core system, Escrow Activities, performing various loan maintenance transactions to include Participation Loans, Secondary Market Activities, and payoff/discharges.
Keep abreast of current and new regulations changes related to CFPB Mortgage Servicing Rules, State and Federal regulation.
Responsible for the accurate implementation of existing policies, procedures, governmental regulations and systems, including training the team.
Troubleshooting and resolving complex issues from both internal and external customers for all aspects of a servicing loan portfolio with direct supervision over secondary market activities
General
- Assist internal and external auditors and regulators with their respective engagements.
Effectively use tools and systems to be able to self-manage, organize, and complete work independently, proactively recognizing potential obstacles resolving them before they become an issue, managing to deadlines, creating action plans when not on track, enabling job functions to happen with minimal oversite and meeting conditions of satisfaction.
Use discretion in dealing with large amounts of sensitive, confidential information, while adhering to all Bank policies and procedures
Adhere to all company policies, consistently demonstrating our core values and service standards.
In the performance of respective tasks and duties, the employee is expected to maintain knowledge of and ensure compliance with Bank Secrecy Act regulations and adheres to compliance procedures and internal/operational risk controls in accordance with all applicable regulatory standards, requirements and policies as well as attending all required training sessions and completing all required on-line training courses.
Regular and consistent attendance is required to continue the high standard of customer service as well as occasionally participating in before/after hours and/or weekend community events.
Other duties as assigned, performing similar or related work as directed, required, or as situation dictates.
SUPERVISORY RESPONSIBILITIES
In alignment with our Core Values and Lean Principles, and in coordination with, department management:
Supervises assigned staff - schedules and assigns work, directing staff according to business needs and established goals and objectives.
Partners with managers of business lines across the organization to identify opportunities for supervised staff to both support project planning and execution and/or routine work in periods of high demand and/or resource limitations.
Create an inclusive work environment that encourages, and rewards performance works towards shared goals contributing ideas and accepting change while recognizing individual needs and skills.
Promotes and enhances the corporate culture and fosters the development and implementation of organizational vision, policies, and guidelines.
Coaches, develops, and mentors staff, providing guidance and assigning appropriate training on a regular basis.
Counsels to address performance and/or behavior issues, clarify expectations, and provide feedback as needed.
Completes timely checkpoints, recommends employment decisions.
Monitor departmental procedures, making necessary changes to increase productivity and improve efficiencies – Communicating these changes to all stakeholders.
Provides training and guidance to others in the department on new and existing processes.
Responsible for achieving strong results, despite balancing multiple demands.
Demonstrate ability to weigh competing priorities and direct staff according to business needs.
LEVEL OF RESPONSIBILITY:
Work is non-routine and complex.
Relies on prior directly related experience. Procedures adhered to are prescribed by Bank, State, and Federal policy and regulations, requiring the ability to maintain a high level of confidentiality.
Interacts independently and under limited supervision with both internal and external customers
Responsible for managing, mentoring, and coaching assigned team.
SKILLS REQUIRED:
Bachelor’s Degree in Business Administration or equivalent experience typically five years of current and progressive experience within the functional area, at least two of which are in a management/supervisory position.
Robust understanding of Federal and State regulations; CFPB Mortgage Servicing Rules and Bank guidelines
Proficient awareness of how to create a workflow in Visio or similar.
Thorough knowledge of Commercial, Residential and Consumer Loan Servicing
Good working knowledge of Data Processing systems required (COCC preferred)
Comprehensive knowledge in financial institution operating policies and procedures, banking regulations (state and federal).
Proficient in Microsoft 365 Suite products including, but not limited to Excel, Word, Outlook, Teams, and Sharepoint.
Solid understanding and application of administration activities with an understanding of office procedures and ability to operate standard office equipment.
EQUIPMENT REQUIRED:
Smart Phone - To enable the MFA (Multi Factor Authentication) facilitating access to MSB systems.
HYBRID/REMOTE ENVIRONMENT:
Your physical remote location must provide a dedicated workspace that is free from distraction and provides adequate light to be regularly visible on video calls.
You must have access to a reliable internet connection with adequate bandwidth to join Teams and other video calls.
COMPETENCIES:
Natural leader with expert communication abilities (written & verbal) and strong interpersonal skills, ethics, and cultural awareness.
Strong ability to maintain accuracy and attention to detail and exercise sound judgement.
Critical thinker who can navigate through situations involving the need for trade-offs and/or complex risk management calculations.
Ability to evaluate and quantify subtle business risks.
Proactive and responsive
Relationship builder who forges and maintains relationships internally and externally while maintaining alignment with core values, vision, strategy and goals.
LANGUAGE/COGNITIVE SKILLS:
The person in this position occasionally communicates with customers about banking products, their bank accounts & transactions and therefore must be able to exchange accurate information in these cases. This person frequently communicates with internal contacts and regularly with the bank’s vendors. They will need to use judgment and discretion in decision making situations, interpret and follow all Bank policies and procedures, write/create reports and business correspondence, (Main Street Bank’s standard language is English). As well as the ability to:
Speak and effectively present/communicate information and respond to questions from customers, groups of managers, Board of Directors, vendors and other employees.
Define problems, collect data, establish facts and draw valid conclusions.
Read, analyze and interpret a variety of documents such as Bank policies and procedures, standard commercial, residential mortgage loan documents and Notes, Consumer loan documents and Notes, Post-closing Documents and Modifications.
WORKING CONDITIONS AND PHYSICAL EFFORT: The physical and work environment demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
While performing the duties of this job, the employee is required to:
Physical Demands/Efforts
Occasionally lift and/or move up to15-25pounds, (i.e., files)
Frequently required to remain in a stationary position, greater than50%of the time
Occasionally required to stoop, bend and access tight spots
Mental & Visual Demands
Consistently operate a computer for extended periods of time
Specific vision abilities may be required by this job include close vision, distance vision, peripheral vision, depth perception, and ability to adjust focus.
Regular use of office productivity machinery (i.e., a calculator, copy machine, fax machine, computer printer).
Work Environment and Hazards
Regularly move throughout the inside the Bank to access resources and individuals.
Periodic local travel for bank purposes and/or on behalf of the bank (i.e., property inspections, training, staff meetings Business calls, networking, community/marketing events). –
Consistently available during core business hours and able to work alternative schedules that meet the needs of the Bank, which may include occasional early morning, evening, and/or weekend hours.
It is a general office environment when on site, where the noise level is moderate.
Qualifications
The completion of this Application for Employment does not assure a position with Main Street Bank and any offer of employment is conditioned on the satisfactory completion of a background and credit review as determined by the sole discretion of Main Street Bank. Neither this Application for Employment nor any document constitutes a contract of employment for a specific term and that any employment relationship that may be established will be 'at-will' and if hired, may be terminated at any time, for any reason, by the applicant or Main Street Bank.
Massachusetts Law - It is unlawful in Massachusetts to require or administer a lie detector test as a condition of employment or continued employment. An employer who violates this law shall be subject to criminal penalties and civil liability.
Massachusetts General Laws c. 151B prohibits employers from (1) terminating or refusing to hire individuals on the basis of genetic information; (2) requesting genetic information concerning employees, applicants, or their family members; (3) attempting to induce individuals to undergo genetic tests or otherwise disclose genetic information; (4) using genetic information in any way that affects the terms and conditions of an individual’s employment; or (5) seeking, receiving or maintaining genetic information for any non-medical purpose.
Main Street Bank is an Equal Opportunity Employer, we are committed to recruiting, hiring, training, and promoting persons without regard to race, color, religion, national origin, citizenship, age, sex, marital status, ancestry, physical or mental disability, veteran status, sexual orientation, military service, genetic information, and gender identity.