Loan Servicing Escrow Specialist I

Centennial Bank•Conway, AR

19h•Onsite

About The Position

GENERAL DESCRIPTION OF POSITION The Loan Servicing Escrow Specialist I monitors and maintains loans with escrow accounts and applicable collateral for insurance and tax requirements. This position serves as a liaison between the bank, lending staff, and third party escrow, tax, and insurance vendors to resolve discrepancies and issues related to escrow processing and/or insurance/tax tracking. ESSENTIAL DUTIES AND RESPONSIBILITIES 1. Monitors escrow accounts to ensure timely remittance of payment to applicable agencies. This duty is performed weekly, about 10% of the time. 2. Updates bank processing system and prepares batch entries for disbursement of payment to various agencies. This duty is performed weekly, about 15% of the time. 3. Reviews insurance tracking requirements to ensure timely receipt of insurance notifications. This duty is performed weekly, about 15% of the time. 4. Balances pass thru accounts related to escrow agents. This duty is performed monthly, about 15% of the time. 5. Serves as liaison between bank, lending staff, and 3rd party vendors to resolve discrepancies and issues related to escrow processing. This duty is performed monthly, about 10% of the time. 6. Generates and reviews annual escrow statements mailed to customer for accuracy. This duty is performed as needed, about 10% of the time. 7. Serves as back up for other areas of the department as requested by upper management. This duty is performed annually, about 5% of the time. 8. Maintains insurance force placement requirements and requests. This duty is performed weekly, about 10% of the time. 9. Tracks real estate collateral tax requirements and requests. This duty is performed weekly, about 10% of the time. 10. The ability to work in a constant state of alertness and in a safe manner. This duty is performed daily. 11. Completes required BSA/AML training and other compliance training as assigned. This duty is performed quarterly. 12. Perform any other related duties as required or assigned. QUALIFICATIONS To perform this job successfully, an individual must be able to perform each essential duty mentioned satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required.

Requirements

High school or GED, plus specialized schooling and/or on the job education in a specific skill area; e.g. data processing, clerical/administrative, equipment operation, etc., plus 2 years related experience and/or training, or equivalent combination of education and experience.
Ability to effectively communicate information and respond to questions in person-to-person and small group situations with customers, clients, general public and other employees of the organization.
Ability to calculate figures and amounts such as discounts, interest, commissions, proportions, percentages, area, circumference, and volume.
Ability to apply concepts such as fractions, ratios, and proportions to practical situations.
Ability to utilize common sense understanding in order to carry out written, oral or diagrammed instructions.
Ability to deal with problems involving several known variables in situations of a routine nature.
Advanced: 10-Key, Alphanumeric Data Entry
Intermediate: Accounting, Spreadsheet, Word Processing/Typing
Basic: Contact Management, Database
Two (2) years of related experience and/or training
Must be able to work well independently, as well as in a team environment.
Professional communication skills both written and verbal

Responsibilities

Monitors escrow accounts to ensure timely remittance of payment to applicable agencies.
Updates bank processing system and prepares batch entries for disbursement of payment to various agencies.
Reviews insurance tracking requirements to ensure timely receipt of insurance notifications.
Balances pass thru accounts related to escrow agents.
Serves as liaison between bank, lending staff, and 3rd party vendors to resolve discrepancies and issues related to escrow processing.
Generates and reviews annual escrow statements mailed to customer for accuracy.
Serves as back up for other areas of the department as requested by upper management.
Maintains insurance force placement requirements and requests.
Tracks real estate collateral tax requirements and requests.
The ability to work in a constant state of alertness and in a safe manner.
Completes required BSA/AML training and other compliance training as assigned.
Perform any other related duties as required or assigned.