Loan Servicing Operations Specialist

Position Summary

Under the supervision of the Loan Servicing Manager, the Loan Operations Specialist ensures that loan data meets established quality standards by performing loan documentation and data integrity reviews on all new residential, consumer and commercial loans.

Essential Job Functions/Responsibilities

The essential functions include, but are not limited to the following:

Maintains thorough knowledge and understanding of Bank policies, procedures, guidelines, and philosophies. Ensures compliance with all applicable federal, state, and local regulations.

• Understands and accurately interprets loan documentation.
• Perform post-closing review of all new residential, consumer and commercial loans.
• Review of all data field parameters to ensure that the core system is compliant with the original loan documents.
• Prepares and monitors exception report and missing document report. Follows up with attorneys and third-party vendors to obtain missing information.
• Review a variety of Loan Servicing reports including, but not limited to, critical maintenance, unapplied funds, minor change reports, loan exception report and index rate schedule reports to ensure all system maintenance is completed within established department procedures.
• Performs review of all maintenance entered on the core and ensures supporting documentation is on file.
• Performs a thorough review of adjustable-rate loan notices to ensure interest rate adjustments are in accordance with the loan terms. Assists in the preparation of the quarterly internal compliance review.
• Takes initiative to work with various loan departments to research and resolve discrepancies identified during the review of the loan.
• Prepares and images commercial loan files as part of the review process.
• Verifies consumer and residential loan files are available in the imaging system.
• Prepare monthly QC reports for management including, but not limited to, listing the areas reviewed, errors noted, error ratios and summary.
• Prepares discharges and ensures compliance with regulatory guidelines.
• Assists management with special departmental projects.
• Process charge offs, delinquent loan payments and/or other collections duties under the guidance/instruction of the Collections Manager.
• Cross train in key tasks to provide coverage when needed. This includes writing and updating procedures to be reviewed and approved by peers, management, and compliance as applicable.
• Responsible for being personally knowledgeable of all applicable aspects of federal and state regulations that pertain to their job function and adhering to all aspects of these regulations.

Supervisory Responsibilities

None.

Minimum Qualifications (Education/Knowledge, Skills, & Abilities)

• High school diploma or equivalent or related work experience related to Loan Servicing/loan documentation.
• Minimum of 1 year of Loan Servicing or a combination of Loan Servicing and loan document review experience.
• Proficient in multi-tasking in a team-oriented environment focused on the highest level of customer service.
• Strong attention to detail and organizational skills.
• Excellent client service and communications skills, both written and oral.
• Proficient: MS Office products.

Physical Demands

This position is an office-based position in terms of physical demand. Employees are expected to be able to operate their fingers and hands to perform functions such as typing, writing, and filing. Employees must also be able to move throughout the office with ease while also being able to sit for extended periods of time. Employees must be able to see and hear in an office setting that does include much noise going on around one’s workspace. While this job is mainly clerical, there are instances in which employees must be able to transport up to 20 pounds.

Work Environment

This job operates in a bank branch office. It is a professional environment.

Note

The above is a description of the ordinary duties of the position. It should be expected that from time-to-time other duties (both related and unrelated to the above) may be assigned and are therefore required.

Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

North Easton Savings Bank is dedicated to being an equal opportunity workplace. To reach and maintain this goal, the Bank strictly prohibits harassment and discrimination based on gender, sex, race, ethnic background, age, physical disability, mental disability, and anything else protected by law. North Easton Savings Bank welcomes diversity and we believe that diversity is the root of successful teams and an overall successful workplace.

NESB123