Manager, Specialized Loan Servicing

Job Overview
This role, in addition to what is described in the requisition, will also have responsibility for providing full support for the Department Head in adherence to OCC Heightened Standards and be a key contributor with respect to Internal and External Audit. The role will also be expected to have a firm grasp of the interaction between the core loan system and the GL. To provide excellent service to internal and external customers, the person filling this leadership position will also need strong organizational skills and a positive leadership presence across the organization. The leader will utilize relationship management skills to foster an environment of strong morale and mutual support.
The Manager, Specialized Loan Servicing will lead, supervise and direct all daily servicing activities of the Specialized Loan Servicing team, overseeing a staff of 2-3 FTE's, along with a major third-party outsourcing relationship (SS-C Technologies for syndication and participation servicing). This role will be responsible for managing all servicing of loan transactions where Valley serves as Agent Bank; Loan Participations Sold; and Loans with multiple pricing options; and, Swap loans liaising with borrowers, investors and Valley loan officers.
Job Description
The Specialized Loan Servicing Manager will be responsible for leading and directing all daily servicing activities of the Specialized Loan Servicing team, along with a major third-party outsourcing relationship (SS C Technologies for syndication and participation servicing). Responsible for managing all servicing of loan transactions for: Syndications where Valley is Agent, Syndication Bought, Participations Bought and Sold, loans tied to SWAPs and loans with multiple pricing options. Provide internal and external customers -- i.e., Valley loan officers, borrowers and investors with quality customer service. Oversee the servicing of the Dealer Floor Plan portfolio where Valley serves as Agent Bank; Loan Participations Sold; and Loans with multiple pricing options; and "Swap loans" liaising with borrowers, investors, and Valley loan officers.
Responsibilities include but are not limited to:

• Manage internal and external third-party resources staff performing the day-to-day operations of loan and agency servicing, participations servicing, and swap Loan Servicing for the bank's portfolio.
• Ensure all Specialized Loan portfolios are serviced properly and efficiently through evaluation of current staffing levels, automation of processes, software and equipment needs, etc.
• Review and certify reconciliations to ensure transactions are processed with accuracy and reconciling items are cleared timely.
• For Dealer Floor Plan, oversee the onboarding of new dealers and process updates to the existing portfolio including activities related to onboarding vehicles, processing payoffs, generating invoices and invoice collection. Provide system administrated to support to clients.
• Administration of interest rate resets, accruals, billing adjustments and settlements for customer swaps (swaps tied to Valley's floating rate loans).
• Utilizing experience, advises staff as to how new deals will be structured operationally and booked properly on the systems, processing new drawdowns, paydowns, and letter-of-credit activities for syndicated loan transactions.
• Act as liaison and subject matter expert to borrowers, participant bank representatives for syndicated loans, and all loan participations sold providing servicing-related advice and guidance to borrowers and investors.
• Ensure all monies due and payable to the bank are collected and/or reconciled, and all past-due principal interest and fees are reported, followed up on, and ultimately collected.
• Analyze department procedures in all areas and recommend automated or streamlined workflows by determining solutions based on cost efficiencies of process improvements. Ensure procedures are consistent with regulatory requirements, bank policies and strategic objectives.
• Serve as point person for Audits, Business Continuity and Disaster Recovery.

Other Responsibilities:

• Comply with all regulations pertaining to BSA, USA PATRIOT ACT, and OFAC. Complete annual BSA training. Report suspicions of criminal activity, or any attempt to avoid BSA reporting requirements on the part of customers or employees, to the AML/BSA Compliance Department. Ensure BSA training requirements are completed by staff.

Requirements
Required Skills:

• Extensive knowledge of the commercial lending business, credit and loan documentation and terminology, bank regulatory requirements, and credit risk management.
• Experienced in commercial loan operations; loan accounting, Loan Servicing; understanding all types of credit agreements.
• Knowledgeable of differences between Commitments, Outstanding, Pro-Rata Calculations, Availability, etc.
• Basic PC skills including general understanding of databases; highly experienced with Excel.
• Understanding of VNB's core banking software i.e. FIS Miser.
• DataScan knowledge a plus.
• Strong oral and written communication skills.
• Strong inter-personal skills to facilitate building positive working relationships.
• Supervisory and managerial experience.

Required Experience:

• High School Diploma/GED and minimum of 10 year's Banking experience in Commercial Lending/Loan operations; AND minimum of 5 years' experience with loan syndications and participation.
• Bachelor's degree (preferably in Finance, Business Administration, or Accounting) and minimum of 7 year's Banking experience in Commercial Lending/Loan operations;
  preferred.