Loan Servicing Specialist

Valley Bank • Wayne, NJ

1d

About The Position

This role involves managing the processing of loan payments, paydowns, payoff requests, and loan fees on a core banking system. It also includes reviewing and handling loan funding requests, reconciling payments with the general ledger, and reviewing various system-generated reports. The specialist will manage maintenance requests, understand basic to complex loan structures, legal documentation, and commercial lending products. Additionally, the role handles research and statement requests from lending teams, represents the bank with borrowers and other external parties, and monitors exception items for processing.

Requirements

• Requires understanding of basic to complex loan structures, legal documentation and knowledge of commercial lending products.
• Experienced in variety of loan servicing activities including all aspects of loan funding, borrowings, paydowns, commitments, etc.
• Loan Administration knowledge, ability to read and interpret a variety of credit agreements.
• Strong knowledge of commercial lending and loan servicing.
• Strong attention to detail, ability to handle multiple tasks simultaneously.
• Knowledge of bank regulatory requirements.
• Strong oral and written communication skills.
• Ability to prioritize daily work assignments while working in a demanding environment.
• Basic loan operational systems experience.
• Ability to trouble-shoot basic loan related functional problems/issues.
• Ability to meet deadlines defined by Bank and regulators.
• Minimum of 2 year's bank experience with knowledge of commercial loan servicing and commercial documentation.

Nice To Haves

• Completion of college level courses in business administration and/or associates degree.

Responsibilities

• Manage the processing of loan payments, paydowns, payoff requests or other processing of loan fees on core banking system.
• Reviewing and handling of loan funding requests as needed.
• Managing payments processed and reconciling the general ledger to process payments timely.
• Reviewing various reports produced on core banking system.
• Handling any maintenance requests and processing on core banking system.
• Handle research requests, statement requests or other general inquiries from lending teams.
• Represents the bank with borrowers, borrower attorneys, title companies and internal lending partners.
• Monitoring/Tracking exception items for processing.

What This Job Offers

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