Sr Commercial Loan Servicing Specialist

Make Your Move•Salem, MA

12h•Onsite

About The Position

Salem Five is hiring a Senior Commercial Loan Servicing Specialist for its Salem, Massachusetts offices. The role supports commercial loan operations by boarding new credits, servicing accounts, maintaining loan records and collateral, processing payments and rate changes, and responding to internal and external customer requests. It also supports compliance, accounting controls, process improvements, new product rollouts, and system testing and conversions. The specialist is responsible for accurate and timely handling of loan documents, payoffs, discharges, wires, escrow matters, UCC filings, and other servicing activities. The role maintains written procedures and control disciplines, ensures compliance with applicable bank policies and laws and regulations, and works with colleagues and customers to provide strong service. A bachelor's degree is preferred; five years of commercial lending, credit, or loan servicing experience is a plus.

Requirements

Strong customer service skills.
Strong verbal and written communication skills.
Strong financial skills related to account reconciliations.
Ability to work independently, stay self-motivated, and make sound decisions.
Knowledge of Microsoft Office, including Excel and Word.
Comfort learning and operating multiple computer applications.
Ability to communicate effectively and professionally with federal and state agencies and internal and external customers.
Strong interpersonal and collaboration skills; responsiveness to customer inquiries; confidentiality; emotional control; and openness to others' ideas and new approaches.
Ability to adhere strictly to applicable federal and state rules and regulations.
Attention to detail.
Ability to manage an efficient workflow in a fast-paced, multitask-oriented environment.
Strong organization and flexibility, high productivity, and ability to work with minimal supervision and meet tight deadlines.

Nice To Haves

Bachelor's degree preferred.
Five years of experience in commercial lending, credit, or loan servicing is a plus.

Responsibilities

Perform department functions in accordance with established policies and procedures.
Analyze loan packages, confirm complete closing packages, and board new credits to the DNA core system.
Process payments and advances; issue statements and notices; adjust interest rates; and maintain customer, account, and transaction records.
Maintain official loan files and image documents in the system of record with appropriate quality control.
Track legal documents and missing items, ensure received documents are imaged promptly, and report missing items weekly through audit reports to Commercial Operations.
Update rate indexes daily in the core system under dual control and process manual loan-level rate changes or adjustments.
Monitor commercial loans designated in a Flood Zone and work with Loan Officers to ensure appropriate insurance in accordance with RESPA.
File UCC financing statements with the City, State, or Registry; track five-year continuations and process UCC terminations.
Manage collateral positions and releases, tax and insurance escrows, and first-level accounting reconciliations.
Review and recommend process adjustments to improve efficiency, customer experience, and controls, including ongoing training on processes and systems.
Develop and maintain written operating procedures for daily, monthly, quarterly, and yearly loan operations tasks, and maintain controls over accuracy, scheduling, system data quality, and compliance.
Reconcile invoices, including manual adjustments from customer accounts to offset costs.
Prepare payoff quotes, process payoff funds, and prepare discharges accurately and on time.
Process approved charge-offs in accordance with policy and accounting standards and archive paper records according to retention procedures.
Maintain exceptional service for internal and external customers and complete service requests within established SLAs.
Prepare wires for dealers and participations.
Work with the Product Development Team on new loan product rollouts, testing, implementation, training, and SOP updates.
Assist with internal or external loan system conversions with management support.
Test new system enhancements and program changes.