Collateral Specialist Sr-Escrow Processing

Wintrust Financial Corporation•Rosemont, IL

21h•$55,000 - $65,000•Hybrid

About The Position

Wintrust provides community and commercial banking, specialty finance and wealth management services through its 16 bank charters and nine non-bank businesses. Wintrust delivers the sophisticated solutions of a large bank while staying true to the relationship-focused, personalized service of our community banking roots. We serve clients in all 50 states with more than 200 branch banking locations in Illinois, southwestern Florida, northwestern Indiana, west Michigan and southern Wisconsin and commercial banking offices in Chicago, Denver, Milwaukee, Grand Rapids, Mich., and in key branch banking locations throughout Illinois. Our people are the heart of our business and we are proud to rank consistently as a top place to work. Wintrust is a $66 billion financial institution based in Rosemont, Illinois, and listed on the NASDAQ Global Select Market under the symbol “WTFC.” Why join us? An award-winning culture! We are rated a Top Workplace by the Chicago Tribune (past 10 years) and Employee Recommended award by the Globe & Mail (past 6 years) Competitive pay and discretionary or incentive bonus eligible Comprehensive benefit package including medical, dental, vision, life, a 401k plan with a generous company match and tuition reimbursement to name a few. Family-friendly work hours With 175+ community bank locations, we offer opportunities to grow and develop in your career. Promote from within culture. Why join this team? We have a culture that encourages an entrepreneurial spirit. We offer multiple opportunities for development and upward mobility. What You’ll Do: The Senior Escrow Specialist is responsible for the payment and balancing of taxes and hazard/flood insurance premiums. Additionally, this employee will analyze results and process final annual escrow analysis, escrow account cancellations, loan system maintenance related to escrow records and research borrower escrow inquiries. Process tax and insurance payments utilizing various county websites including those that utilize tape processing. This process requires the review of payments due from county reports/websites and escrow balance review to ensure enough funds are available for payment. Communication with lenders and Senior Lending personnel is key to clear any shortages prior to completing the payment process. Balancing of county reports to bank reports, disburse funds and once in balance, tax payments are processed. Payments are paid via county websites or checks requested from Finance. This individual will also process general ledger entries, balance Loan Control Reconciliation and Deposit Account statements as utilized for processing. This individual will request outgoing wire transfers to the counties as required. Escrow totals must be in balance and all data accurate prior to paying taxes and this individual is key to ensuring same. Processing of annual escrow analysis including analysis refunds. Orders test analysis. Reviews test escrow statements for any further research or error correction which is then completed by this individual. Research accounts that have failed analysis and make corrections as needed. Determine when test results are acceptable and run final escrow analysis and send out Borrower statements when required. Review regularly scheduled escrow reports as required with Manager. Complete any system maintenance required based on report review. Complete Escrow Maintenance Requests or Escrow Research Requests for the lending staff as assigned by Manager. This individual must have the knowledge and ability to explain all escrow functions to the Lending staff to satisfy customer questions. Special projects or other tasks assigned by Manager from time to time.

Requirements

Minimum of 5-7 years of experience in a loan operations or title company environment with background in managing escrow processes.
Familiarity with escrow processing is required.
Highly organized and ability to complete a high volume of tasks within assigned service levels.
Strong written and oral communication skills, organization skills and attention to detail.

Nice To Haves

Background with commercial lending and documentation concepts are a plus.
Experience with IBS and / or ACBS lending systems a plus.

Responsibilities

The Senior Escrow Specialist is responsible for the payment and balancing of taxes and hazard/flood insurance premiums.
Analyze results and process final annual escrow analysis, escrow account cancellations, loan system maintenance related to escrow records and research borrower escrow inquiries.
Process tax and insurance payments utilizing various county websites including those that utilize tape processing.
Review of payments due from county reports/websites and escrow balance review to ensure enough funds are available for payment.
Communication with lenders and Senior Lending personnel is key to clear any shortages prior to completing the payment process.
Balancing of county reports to bank reports, disburse funds and once in balance, tax payments are processed.
Payments are paid via county websites or checks requested from Finance.
Process general ledger entries, balance Loan Control Reconciliation and Deposit Account statements as utilized for processing.
Request outgoing wire transfers to the counties as required.
Processing of annual escrow analysis including analysis refunds.
Orders test analysis.
Reviews test escrow statements for any further research or error correction which is then completed by this individual.
Research accounts that have failed analysis and make corrections as needed.
Determine when test results are acceptable and run final escrow analysis and send out Borrower statements when required.
Review regularly scheduled escrow reports as required with Manager.
Complete any system maintenance required based on report review.
Complete Escrow Maintenance Requests or Escrow Research Requests for the lending staff as assigned by Manager.
Explain all escrow functions to the Lending staff to satisfy customer questions.
Special projects or other tasks assigned by Manager from time to time.