Loan Servicing Specialist III

River Run Services LLC•Newburyport, MA

5d•$24 - $33

About The Position

River Run is a shared services organization that supports banking affiliates, Newburyport Bank, Pentucket Bank and Rollstone Bank & Trust. The Loan Servicing Specialist III ensures the accurate setup, maintenance, and servicing of commercial loans throughout the loan lifecycle, while also supporting more advanced and specialized servicing functions. Processes complex transactions, prepares participation remittances and reports, and monitors internal accounts to ensure accuracy, compliance, and timely resolution of discrepancies and to uphold the integrity of loan and financial records.

Requirements

High school diploma.
Minimum of 5 years of experience in a professional office environment within a commercial lending-related function.
Strong knowledge of word processing, spreadsheet, and other office applications.
Excellent customer service skills, attention to detail, and ability to work successfully both independently and as a member of a team.

Responsibilities

Board commercial loans in accordance with loan documents; track receipt of original notes and/or titles, and complete related loan maintenance and transactions.
Process commercial payoff quotes, payoffs, and lien releases, and respond to customer requests through the ticketing system or other channels in a timely manner.
Prepare daily and monthly participation remittances and reporting for the Secondary Market.
Monitor internal accounts and resolve out-of-balance items; prepare monthly General Ledger reconciliations.
Collaborate with Commercial Lending Assistants, Portfolio Managers, and Commercial Lenders to research and resolve complex commercial loan scenarios.
Lead assigned special projects and identify opportunities to improve departmental processes and procedures.
Assist Management with researching and responding to internal and external audit findings.
Review work and provide guidance to junior team members to promote accuracy, consistency, and adherence to established procedures.
Maintain current knowledge of Bank products, services, procedures, policies, and applicable regulatory and compliance requirements through training and team meetings; apply this knowledge to daily operations.
Ensure compliance with federal and state laws, regulations, Bank policies, and the Bank Secrecy Act (BSA), as applicable, by verifying transactions and account balances, preventing violations, minimizing risk, and safeguarding the Bank’s interests.