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Responsible for the ongoing servicing and maintenance of the specialized loans ensuring compliance with Bank’s policies as well as federal regulations always protecting the Bank’s financial interest and customer’s rights under existing laws.
Responsibilities:
- Monitor SWAP loans to ensure the loan balances and corresponding SWAP contracts remain accurately reconciled and in balance.
- Monitor and process participation and syndicated loans in which the Bank serves as the lead institution, ensuring the timely and accurate processing of payments to and from participants.
- Process and maintain the Bank's portfolio of loans serviced by third parties ("Loans Serviced by Others").
- Service the portfolio of loans sold to investors, including the preparation and distribution of Investor Reports in compliance with Bank policies and applicable regulatory requirements.
- Process loan advances and payments for the Bank's loan portfolio, ensuring accuracy and timely execution.
- Process and maintain all Special Assets loan transactions, including risk rating adjustments, loan restructures, non-accrual status changes, charge-offs, repossessions (REPOs), and Other Real Estate Owned (OREO) activities.
- Monitor, track, and process requests received through the Bank's case management system, ensuring compliance with established Service Level Agreements (SLAs) and timely resolution of all assigned cases.
- Perform credit bureau maintenance and reporting activities through the E-Oscar system.
- Review daily operational reports and research, resolve, and escalate exceptions as necessary.
- Assist the General Accounting Department with the reconciliation of loan-related general ledger accounts.
- Coordinate and complete the annual issuance process for IRS Form 1098 Mortgage Interest Statements.
- Research and resolve loan-related claims, inquiries, and complaints, providing timely and professional service to customers and Bank personnel while ensuring compliance with applicable banking regulations.
- Support internal and external audits by providing requested documentation, reports, and explanations in a timely manner.
- Maintain and report accurate Key Performance Indicator (KPI) metrics related to assigned responsibilities.
- Participate in special projects, process improvement initiatives, and departmental assignments as required.
- Cross-train in other departmental functions to support operational efficiency and business continuity.
- Provide coverage for other functions within the department during employee absences or periods of increased workload.
- Remain current on changes to federal and state regulations, industry practices, and Bank policies that impact loan servicing operations.
- Perform other duties and responsibilities as assigned.
Minimum Education and/or Certifications Requirements:
High School Diploma, vocational training in real estate, legal documentation and accounting or comparable experience in lieu of education. Associate’s degree in business preferred
Minimum Work Experience Requirements:
Eight to ten years’ loan servicing experience, banking operations, loan accounting as well as investor reporting knowledge required. Must have knowledge of government regulations relating to domestic (multi-state) loans (all types of loans: commercial, consumer, construction, etc.)
Technical and/or Other Essential Knowledge:
Previous experience with MS Office Skills, Internet, FISERV Signature
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