Escrow Specialist (Hybrid, Chicago, IL)

Byline Bank.•Chicago, IL

12h•$29 - $37•Hybrid

About The Position

Headquartered in Chicago, Byline Bank, a subsidiary of Byline Bancorp, Inc. (NYSE:BY), is a full-service commercial bank serving small- and medium-sized businesses, financial sponsors and consumers. Byline Bank has approximately $9.9 billion in assets and operates over 40 branch locations throughout the Chicago and Milwaukee metropolitan areas. Byline Bank offers a broad range of commercial and community banking products and services, including small-ticket equipment leasing and U.S. Small Business Administration loans. Byline Bank is a member of FDIC and an Equal Housing Lender. At Byline Bank, we take pride in being an award-winning workplace. Some of our recent recognitions include: U.S. News & World Report’s Best Companies to Work for in the Midwest 2024-2025, 2025-2026 and Best Companies to Work for in Finance and Insurance & Overall 2025-2026. Newsweek’s America’s Greatest Midsize Workplaces for Women 2026 Best Companies Group’s Best Remote and Hybrid Workplaces in America 2026 Chicago Sun Times Chicago’s Best Workplaces 2024, 2025 Best Companies Group and Illinois SHRM (Society for Human Resource Management) Best Workplaces in Illinois 2024, 2025, 2026 By joining our team, you will become part of an organization that values growth, collaboration, and innovation. We strive to create an environment where employees feel supported and are empowered to excel in their roles. If you're looking for a career with a company that puts people first and makes a difference in the communities we serve, Byline Bank is the place for you.

Requirements

Associate’s degree required; bachelor’s degree in Business Administration, Accounting, Finance, or a related field preferred.
3+ years of Escrow Services and/or Loan Servicing experience.
Experience in Financial Industry preferred.
Knowledge of Home Lending Products.
Knowledge of Regulatory, Investor, and Compliance guidelines.
Detail oriented and the ability to maintain a high level of accuracy.
Strong analytical and problem-solving skills.
Be a strategic thinker with the ability to develop, communicate and implement plans that support the overall goals of the Bank.
Ability to work collaboratively with a variety of stakeholders at all levels.
Be self-motivated with effective time management and a strong attention to detail.
Demonstrates strong change management, organization, and planning skills.
Strong organizational skills with the ability to directly manage and communicate multiple projects and priorities depending on organizational needs and strategies.
Proficiency in MS Office Suite.
Exceptional written and verbal communication skills.

Responsibilities

Manages escrow servicing functions, including real estate tax payments, insurance premium disbursements, flood monitoring, and force-placed insurance administration.
Performs escrow annual analysis and Private Mortgage Insurance (PMI) reviews to ensure account accuracy and regulatory compliance.
Maintains and updates the servicing system to reflect the status of collateral, insurance, and tax information.
Monitors and process disbursements for real estate taxes and insurance premiums for escrowed loan accounts.
Verifies non-escrowed loans have adequate insurance coverage and that real estate taxes are satisfied.
Reviews residential and commercial property insurance policies, liability insurance policies, and operating statements to ensure compliance with internal policies and procedures.
Research delinquent real estate taxes on non-escrowed accounts and take corrective action.
Coordinates with tax agencies to obtain real estate property tax information and resolve discrepancies.
Supervises force-placed insurance coverage, premiums, and payment disbursements required due to borrower non-compliance.
Administers casualty loss claims incurred for commercial or residential properties.
Ensures compliance with the Flood Disaster Protection Act (FDPA) for real estate-secured loans located in special flood hazard areas.
Collaborate with internal or external customers, agents, and vendors to resolve issues or discrepancies related to real estate taxes, escrow, and insurance.
Assists in the preparation of monthly metrics for the Loan Operations Department.
Supports bank-wide initiatives.
All other duties as assigned.