Loan Servicing Escrow Specialist II

Centennial Bank•Conway, AR

About The Position

GENERAL DESCRIPTION OF POSITION The Loan Servicing Escrow Specialist II 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. The Loan Servicing Escrow Specialist II also processes billing in regards to forced placed insurance and/or delinquent taxes, as applicable. 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 10% 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 through 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 time allows. This duty is performed annually, about 10% of the time. 8. Balances approval files received from third party vendors and provides approval for payment disbursement. This duty is performed as needed, about 5% of the time. 9. Maintains insurance force placement requirements and requests. This duty is performed weekly, about 5% of the time. 10. Tracks real estate collateral tax requirements and requests. This duty is performed weekly, about 10% of the time. 11. The ability to work in a constant state of alertness and in a safe manner. This duty is performed daily. 12. Completes required BSA/AML training and other compliance training as assigned. This duty is performed quarterly. 13. Performs any other related duties as required or assigned.

Requirements

Knowledge of a specialized field (however acquired), such as basic accounting, computer, etc.
Equivalent of four years in high school, plus night, trade extension, or correspondence school specialized training, equal to two years of college, plus 3 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 solve practical problems and deal with a variety of known variables in situations where only limited standardization exists.
Ability to interpret a variety of instructions furnished in written, oral, or diagram formats.
Advanced: 10-Key, Alphanumeric Data Entry
Intermediate: Accounting, Spreadsheet, Word Processing/Typing
Basic: Contact Management, Database
Must be able to work well independently, as well as in a team environment.
Professional written and verbal communication skills

Nice To Haves

Two (2) years of related experience and/or training

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 through 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 time allows.
Balances approval files received from third party vendors and provides approval for payment disbursement.
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.
Performs any other related duties as required or assigned.