Loan Servicing Escrow Specialist I

Centennial Bank•Conway, AR

About The Position

The Loan Servicing Escrow Specialist I monitors and maintains loans with escrow accounts and applicable collateral for insurance and tax requirements. The role acts as a liaison among the bank, lending staff, and third-party escrow, tax, and insurance vendors to resolve discrepancies and issues involving escrow processing and insurance or tax tracking. The position requires high school or GED education plus specialized schooling or on-the-job education in a specific skill area, along with two years of related experience and/or training, or an equivalent combination of education and experience. The employee must communicate effectively with customers, clients, the general public, and colleagues; perform practical calculations; and use common-sense reasoning to follow instructions and address routine problems involving several known variables. Required software skills include advanced 10-key and alphanumeric data entry, intermediate accounting, spreadsheet, and word processing/typing skills, and basic contact management and database skills. The work takes place in an office setting with controlled temperature and generally moderate noise. It is highly repetitive and moderately physical. The employee is continuously required to sit, use hands to finger, handle, or feel, and talk or hear; regularly reach with hands and arms; and occasionally stand, walk, climb or balance, stoop, kneel, crouch, or crawl. The employee may occasionally need to lift or move up to 25 pounds and must have close vision. Reasonable accommodations may be made for individuals with disabilities.

Requirements

High school diploma or GED, plus specialized schooling and/or on-the-job education in a specific skill area, or an equivalent combination of education and experience.
Two years of related experience and/or training.
Ability to communicate effectively in person-to-person and small-group situations with customers, clients, the general public, and other employees.
Ability to calculate figures and amounts, including percentages, proportions, ratios, and related practical calculations.
Ability to follow written, oral, or diagrammed instructions and handle routine problems involving several known variables.
Advanced 10-key and alphanumeric data-entry skills.
Intermediate accounting, spreadsheet, and word processing/typing skills.
Basic contact management and database skills.
Ability to work independently and in a team environment.
Professional written and verbal communication skills.

Responsibilities

Monitor escrow accounts to ensure payments are remitted to applicable agencies on time.
Update the bank processing system and prepare batch entries for disbursements to agencies.
Review insurance tracking requirements to ensure timely receipt of insurance notifications.
Balance pass-through accounts related to escrow agents.
Liaise between the bank, lending staff, and third-party vendors to resolve escrow-processing discrepancies and issues.
Generate and review annual escrow statements mailed to customers for accuracy.
Provide backup for other department areas as requested by upper management.
Maintain insurance force-placement requirements and requests.
Track real estate collateral tax requirements and requests.
Work in a constant state of alertness and in a safe manner.
Complete required BSA/AML and other assigned compliance training.
Perform other related duties as required or assigned.