Commercial Loan Servicing Specialist

Centreville Bank•West Warwick, RI

About The Position

The Commercial Loan Servicing Specialist provides support for all Commercial loan servicing. This person is required to make loan level and account-based decisions to meet customer need and ensure compliance to all Federal, State and Local regulations. Responsible for quality control and system review of all commercial loans, ensuring accuracy that all loans are processed and documented in accordance with established policies and procedures. Complies with all applicable federal, state and local regulations. Responsible for generating and reviewing critical commercial loan servicing related department reports, utilizing both expertise and discretion to collect, analyze and report on commercial loan data as appropriate. Conducts ongoing review and analysis of commercial loan portfolio data to identify opportunities for improvements in data accuracy and consistency. Responsible for procedure maintenance in Commercial Servicing which includes drafting, reviewing and updating procedures as needed. Responsible for setting up commercial loans and lines of credit in the core system (including C&I, CRE, Construction, SBA, SWAP etc.); interpreting loan documentation and approval memorandums in order to accurately set up new loans, renewals, modifications, SWAPs, and letters of credit to the servicing system while ensuring data integrity. Accurately and efficiently processes variety of commercial loan transactions; including loan payments, loan payoffs, new loan disbursements, construction disbursements, line of credit advances, line of credit paydowns, interest advances, charge offs. Performs quality control reviews of multiple processes and ensures accuracy in accordance with all Bank policies and procedures. Continually evaluates current department processes to identify opportunities for increased operational efficiencies and possible process improvements. Responds to all telephone, letter and email inquiries from internal/external customers and various other departments, ensuring courteous, accurate and thorough follow-up. Conduct thorough research when required. Manages and prepares pay-off quotes, discharges of mortgages, partial releases and other related collateral releases. Performs account reconciliations as needed. Use discretion to evaluate and audit accounts and processes involving monetary transactions, utilizing both judgement and expertise to address anomalies. Reviews and submits monthly SBA reporting. Manages and monitors the initial filings, continuations and terminations of UCCs. Performs clerical operational tasks for various Commercial Loan Servicing processes. Maintains and updates the annual record retention of any and all commercial paid loan documentation. Monitors commercial loan hazard and flood insurance tracking. Reviews and remits all Participation reports/funds to appropriate participant banks to ensure compliance with all agreed upon terms as they relate to loan servicing, report timing, etc. Reviews all requests and required documentation for Construction loan advances in accordance with loan approval and departmental procedures. Interfaces with other departments as needed; as well as third party vendors/service providers. Assists with the preparation of commercial loan files for upcoming audits by Internal Audit, Corporate Regulatory Compliance and other third-party reviews. Attend seminars, webinars and in-house training as needed to keep up with regulations and changes. Assists management with special projects, as needed.

Requirements

High school diploma required
3-5 years’ experience in a financial institution, preferably in loan servicing
Excellent organizational skills and problem-solving skills; detail oriented with proven ability to handle confidential and sensitive information
Strong oral and written communication skills
Work independently and meet deadlines in a fast-paced, deadline driven environment with minimal supervision
Capable of multi-tasking with a high degree of accuracy and efficiency to meet time deadlines
Ability to conduct audits and detailed reviews accurately
Ability to review, analyze and interpret commercial loan documents of varying complexity
Must have the ability to read, analyze and interpret general banking documents or government regulations
Strong critical thinking and analytical skills
Must be proficient with MS Office Suite (including a minimum of intermediate Excel skills)

Nice To Haves

Degree in business or related field preferred
Commercial lending knowledge preferred
2-4 years’ related experience
Familiarity with commercial loan documents
Experience with a loan/mortgage operations system is preferred

Responsibilities

Provide support for all Commercial loan servicing
Make loan level and account-based decisions to meet customer need and ensure compliance to all Federal, State and Local regulations
Quality control and system review of all commercial loans
Ensure accuracy that all loans are processed and documented in accordance with established policies and procedures
Generate and review critical commercial loan servicing related department reports
Collect, analyze and report on commercial loan data as appropriate
Conduct ongoing review and analysis of commercial loan portfolio data to identify opportunities for improvements in data accuracy and consistency
Procedure maintenance in Commercial Servicing which includes drafting, reviewing and updating procedures as needed
Setting up commercial loans and lines of credit in the core system (including C&I, CRE, Construction, SBA, SWAP etc.)
Interpreting loan documentation and approval memorandums in order to accurately set up new loans, renewals, modifications, SWAPs, and letters of credit to the servicing system while ensuring data integrity
Accurately and efficiently processes variety of commercial loan transactions; including loan payments, loan payoffs, new loan disbursements, construction disbursements, line of credit advances, line of credit paydowns, interest advances, charge offs
Performs quality control reviews of multiple processes and ensures accuracy in accordance with all Bank policies and procedures
Continually evaluates current department processes to identify opportunities for increased operational efficiencies and possible process improvements
Responds to all telephone, letter and email inquiries from internal/external customers and various other departments, ensuring courteous, accurate and thorough follow-up
Conduct thorough research when required
Manages and prepares pay-off quotes, discharges of mortgages, partial releases and other related collateral releases
Performs account reconciliations as needed
Use discretion to evaluate and audit accounts and processes involving monetary transactions, utilizing both judgement and expertise to address anomalies
Reviews and submits monthly SBA reporting
Manages and monitors the initial filings, continuations and terminations of UCCs
Performs clerical operational tasks for various Commercial Loan Servicing processes
Maintains and updates the annual record retention of any and all commercial paid loan documentation
Monitors commercial loan hazard and flood insurance tracking
Reviews and remits all Participation reports/funds to appropriate participant banks to ensure compliance with all agreed upon terms as they relate to loan servicing, report timing, etc
Reviews all requests and required documentation for Construction loan advances in accordance with loan approval and departmental procedures
Interfaces with other departments as needed; as well as third party vendors/service providers
Assists with the preparation of commercial loan files for upcoming audits by Internal Audit, Corporate Regulatory Compliance and other third-party reviews
Attend seminars, webinars and in-house training as needed to keep up with regulations and changes
Assists management with special projects, as needed