Salem Five Bank Sr. Servicing Specialist (Mortgage/Consumer Loan Servicing) in Salem, Massachusetts
Loan Operations - Servicing
Salem, MA, USA
Senior Servicing Specialist
This position is responsible for servicing all consumer and residential loans and lines of credit for the bank in the most cost-effective manner consistent with good customer service, compliance, and sound controls.* *
JOB DUTIES AND RESPONSIBILITIES:include the following. Other duties may be assigned.
- Responsible for execution of all residential and consumer servicing functions, including: quality control of new installment loans and residential mortgage loans; processing payments and advances; issuing accurate statements and notices including rate change notifications; maintaining and adjusting interest rates as required; responding to customer inquiries and requests; assisting with escalated customer issues and working with the complaint/legal department toward dispute resolution; maintenance to customer, account, or transactional records; maintenance to official loan files; assisting with notice of error and requests for information; processing of mortgage loan payoffs; assisting with requests for partial release, trust transfer, easements, partial taking by eminent domain, subordinations, or assent to amend master deed according to secondary market guidelines; assisting with loan modifications; assisting with insurance loss draft program for hazard / flood insurance; first level accounting reconcilement; assisting management with audit responsibilities.
- Responsible for the timely and accurate processing of all payments, advances and other system maintenance both internal and external; responsible for ensuring the general ledgers and bank control are balanced as required.
- Responsible for ensuring appropriate procedures for all residential and consumer servicing functions in compliance with all applicable regulations and laws. Responsible for analyzing existing process to identify areas for operational efficiency using technology and automation.
- Process financial transactions for all divisions of the Bank including Loan Servicing, Default Management, Secondary Market, Construction Lending, Commercial Lending, Aviation Lending, Mortgage Origination and Post Closing Departments. These functions include: processing all monetary entries for funding of new mortgage loans; loan payoffs; funds received during the origination process; funding for new loans; construction loan disbursements and payments; speed pay transactions; participation payments; PC payments and lockbox transactions; and exception payments as required.
- Perform settlement functions required to balance the day’s processing on Teller Insight, and in Microsoft Excel. Record financial transactions and entries processed to the general ledger accounts, perform any other functions required to balance.
- Perform daily review of ACH Posting Rejects and Posting Rejects Report. Research and resolve erroneous or misapplied payments. Daily submission of paid negotiable items to Automated Clearing House.
- Perform daily monitoring of NSF payment returns. Performs daily monitoring of check free clearing account and process adjustments when required.
Assist with implementation of strong control environment and disciplines, including:
the development and maintenance of written operating procedures for all daily, monthly, quarterly, and yearly loan servicing tasks
define and implement controls to ensure: duties executed accurately and as scheduled, data quality on systems of record, and compliance with bank policy and laws and regs
Responsible for assisting with all customer inquiries and requests through all means including the internal ticketing system, contact center and retail branches to ensure prompt response and follow through; responsible for research and customer contact.
- Assist with preparation and distribution of all required department reports including Board Reports.
- Any other additional duties/task required by management.
- Regular attendance is essential to this position.
To perform the job successfully, an individual should demonstrate the following competencies:
Organizational Support - Follows policies and procedures; completes administrative tasks correctly and on time; supports organization's goals and core values; benefits organization through outside activities; supports affirmative action and respects diversity.* *
Interpersonal Skills – A strong collaborator with customers and co-workers; focuses on responding to customer inquiries; maintains confidentiality; keeps emotions under control; remains open to others' ideas and tries new things.
Oral & Written Communication - Speaks clearly and persuasively in positive or negative situations; listens and gets clarification; responds well to questions; demonstrates group presentation skills; takes an active role participating in meetings; writes clearly and informatively; varies writing style to meet needs; presents numerical data effectively.
Teamwork - Balances team and individual responsibilities; exhibits objectivity and openness to others' views; gives and welcomes feedback; contributes to building a positive team spirit; able to build morale and group commitments to goals and objectives.
Quality Management - Looks for ways to improve and promote quality; demonstrates accuracy and thoroughness.
Business Acumen - Understands basics of the business and related implications of decisions
Cost Consciousness - Works within approved budget; conserves organizational resources.
Ethics - Treats people with respect; works with integrity and ethics; upholds organizational values.* *
Analytical – Has the ability to organize data, both financial and systemic information, and to make assessments that will be used to optimize systems or financial performance. Has the technical skills required to support the current and future business need.
Problem Solving - Identifies and resolves problems in a timely manner; develops alternative solutions; works well in group problem solving situations; uses reason even when dealing with emotional topics.
To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below 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.
EDUCATION and/or EXPERIENCE
Operations experience in a bank or financial institution preferred. Banking experience; teller, lending, credit, or servicing experience a plus. Demonstrated capability and familiarity with Microsoft products utilizing Excel and Word required. Strong systems knowledge including data analytics and technical support experience preferred. The ideal candidate will also be adaptable to change, able to learn quickly, and willing to bring forward suggestions for efficiencies in work flow.
PHYSICAL DEMANDS:The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job.
While performing the duties of this job, the employee is regularly required to sit and use hands to finger, handle, or feel. The employee is occasionally required to walk. Specific vision abilities required by this job include close vision.
WORK ENVIRONMENT:The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. The noise level in the work environment is usually moderate.
With a rich history and a strong reputation for growth, service and innovation, Salem Five offers employees a sense of stability and pride. Salem Five also offers a comprehensive salary and benefit package including health insurance and matching 401k plan. Qualified candidates may submit a resume and application online at salemfive.com/careers or mail your resume to Human Resources, 210 Essex Street, Salem, MA 01970.
Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities
The contractor will not discharge or in any other manner discriminate against employees or applicants because they have inquired about, discussed, or disclosed their own pay or the pay of another employee or applicant. However, employees who have access to the compensation information of other employees or applicants as a part of their essential job functions cannot disclose the pay of other employees or applicants to individuals who do not otherwise have access to compensation information, unless the disclosure is (a) in response to a formal complaint or charge, (b) in furtherance of an investigation, proceeding, hearing, or action, including an investigation conducted by the employer, or (c) consistent with the contractor’s legal duty to furnish information. 41 CFR 60-1.35(c)
Posted: December 25, 2020