Loan Servicing Representative I (Consumer) - Oak Ridge, NJ

Provident Bank • Oak Ridge, NJ

5d

About The Position

Under close supervision, the Loan Servicing Representative I performs high-level maintenance and departmental audit functions for commercial, commercial real estate, construction, ready reserve, and small business loans. This entry-level role handles complex routine and basic duties, including servicing transactions, maintaining loan and borrower records, reviewing documentation, monitoring escrow accounts, and responding to borrower inquiries. The role also supports quality control, meets service deadlines, and trains new staff on relevant bank policies and procedures.

Work is performed in a normal office environment with moderate noise, and the position involves travel to customer and property locations. Physical activities include prolonged sitting, lifting items weighing 5 to 10 pounds, and occasional bending or overhead lifting.

Requirements

• High school diploma or GED.
• 1–3 years of experience.
• Experience interpreting loan documentation.
• Ability to exchange information clearly and concisely, present ideas, and report facts.
• Working knowledge of the Horizon and ACBS systems and PC skills.
• Ability to create Excel spreadsheets and use formulas for bills and reports.
• Ability to take ownership of workflow and resolve problems with minimal to no supervision.
• Ability to multitask.
• Excellent communication and organizational skills.
• Strong mathematical background.

Responsibilities

• Assist with commercial loan servicing activities, including applying funds, paying real estate taxes, and responding to customer inquiries.
• Meet required deadlines for internal and external customers.
• Resolve high-priority or complex issues through communication and negotiation with customers.
• Set up borrower and financial information for new loan closings in the Horizon and ACBS systems.
• Read and interpret loan documents and approvals to verify system accuracy.
• Track future interest rate adjustments and verify that system-generated letters comply with loan documents; alert management to changes requiring special attention.
• Process loan modifications, including maturity extensions, interest rate adjustments, and borrower transfers, and verify that modified data has been approved by the Credit Committee or designated loan officer.
• Administer real estate tax escrow disbursement reports to prevent negative escrow transactions; contact municipalities as needed to clarify amounts due and resolve discrepancies.
• Respond to borrower inquiries about escrow reconciliations and re-analyze accounts with identified deficiencies.
• Handle the monthly billing process, ensuring commercial account bills are generated and mailed; contact borrowers about returned mail to verify addresses.
• Process monetary transactions, including monthly payments, fees, payoffs, construction and commercial line or loan advances, and pay-downs; make corrections and adjustments as warranted.
• Train new staff on bank policies and procedures relevant to their job functions.
• Perform other duties as assigned by management.

Benefits

• Paid time off (PTO) and holiday PTO.
• Medical, dental, and vision plans.
• Flexible spending and health savings accounts.
• 401(k) retirement plan.
• Disability insurance.
• Employee Assistance Program.
• Basic life insurance.
• Tuition disbursement and loan repayment programs.
• Voluntary supplemental life insurance, accident, critical illness, hospital indemnity, and legal plans.
• Incentive eligibility based on company, business, and/or individual goal achievement and performance.

What This Job Offers

• Job Type: Full-time
• Career Level: Entry Level
• Education Level: High school or GED