Loan Servicing Specialist

First Merchants Brand•Daleville, IN

About The Position

First Merchants Bank is seeking a Loan Servicing Specialist to perform a variety of back-office loan operations functions. Work must be completed accurately and promptly because the tasks are critical to regulatory requirements and departmental procedures. The ideal candidate is flexible about assigned tasks and willing to learn multiple functions. The role responds to customer inquiries, supports established loan processes, researches and resolves complex transactions, reviews documents and reports for accuracy, processes a range of loan transactions, and maintains the core processing system. Specialists also work with Core Processing on system enhancements, corrections, and test scenarios, following items through to the general ledger. Each Specialist is assigned one of several areas: Escrow, Support, Collateral, or Impaired Loans. Escrow work includes reconciliations, audits, analysis, and property tax and insurance disbursements. Support work includes explaining escrow analyses, preparing or verifying payoff quotes, completing credit references, and addressing credit bureau reporting correspondence. Collateral work includes managing UCC filings, researching collateral requests and releases, and supporting special projects. Impaired Loans work includes guidance on accounting requirements, OREO entries, charge-offs, recoveries, and established impaired-loan procedures.

Requirements

High school diploma or equivalent (GED).
Two years of financial service, customer service, or related processing experience.
Flexibility regarding assigned tasks and willingness to learn multiple tasks.

Nice To Haves

Prior banking experience.
Experience with Microsoft Outlook, Excel, and Word.

Responsibilities

Respond to customer phone and email inquiries professionally, thoroughly, accurately, and promptly.
Provide guidance on established loan processes and procedures.
Process, research, review, and provide feedback on complex transactions through resolution while minimizing customer impact.
Review statements, reports, filings, and invoices for accuracy and process corrections as needed.
Process loan payments, payoffs, exceptions, reversals, escrow transactions, and corrections.
Maintain the core processing system as needed.
Work with Core Processing on system enhancements, corrections, and test scenarios, and follow through to the general ledger.
For Escrow Specialists: perform periodic reconciliations, audits, and analysis to ensure accuracy and compliance; process property tax and insurance disbursements; ensure timely county tax payments for escrowed accounts; and liaise with vendors as needed.
For Support Specialists: explain escrow analysis statements to Call Center and Retail personnel; prepare or verify consumer and commercial loan payoff quotes and credit references with proper authorization; and respond to erroneous credit bureau reporting correspondence by letter or by correcting information through E-Oscar or the core system.
For Collateral Specialists: create, modify, amend, and cancel state UCC filings; monitor and assign team mailbox emails; research and fulfill complex collateral requests to ensure lien perfection; research and fulfill collateral release requests for acquired loans; participate in special projects as assigned by the Assistant Manager; and cross-train on every research-related job function.
For Impaired Loans Specialists: provide guidance on accounting requirements for impaired loans and entries for properties moving into OREO; understand partial and full charge-offs and recoveries; and provide guidance on established impaired-loan processes and procedures.