Commercial Loan Servicing Specialist
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POST DATE 8/23/2016
END DATE 11/9/2016
Cambridge Savings Bank
JOB DESCRIPTIONAPPLY Commercial Loan Servicing Specialist
Cambridge Savings Bank, headquartered in Harvard Square, and with 17 branches located throughout Eastern, MA, and 3.2 Billion in Assets, is dedicated to maintaining our strong financial position by providing our customers with a full range of individual and business banking services in a professional, personal way. We are equally dedicated to our employees providing a work environment built on respect, support, and teamwork. Cambridge Savings Bank offers a competitive salary and benefits package and friendly work environment with unique opportunities for growth and development.
Under the direct supervision of the VP/Commercial Loan Servicing Manager, you will be responsible for the loan review of all CRE, C&I and SB loan requests in the FISERV/DNA system, booking new loans; modifications; renewals; SWAPS; Bonds; Letters of Credit; ACH; increases and extensions. Provide exceptional customer service to internal and external customers. Perform as the primary back up to the Commercial Loan Servicer1 position.
KEY RESULT AREAS:
* Responsible for timely and accurate boarding and maintenance of new C&I, CRE, Small Business and SBA loans in the Bank s core system including modifications, increases, renewals, extensions, participations, swaps, letters of credit, bonds and ACH ensuring adherence to required loan terms and conditions.
* Performs regular loan review audits to ensure that all loans are functioning accurately according to the Loan Approval Summary, Promissory Note, Participation agreements and all other pertinent loan documentation.
* Performs accurate processing of monthly SWAP payments. Ensures that all SWAP remittances are reviewed against amortization schedule and wires are sent to swap counterparty.
* Performs as the primary back up to the Commercial Loan Servicer 1.
* Prepare and distribute various reports including but not limited to New loan production, Run offs, Swaps, Loans Past due, Maturity Report and Note Listing to various departments and Senior Management.
* Responsible for the monitoring of hazard, liability and flood insurances for all commercial loans by working with Miniter Insurance (insurance tracking vendor) to ensure policies are renewed. Also, protect the Bank s interest by forced placed coverage for cancelled policies.
* Working closely with Commercial Loan Administrators and Loan Officers to ensure loans are booked accurately in Fiserv/DNA.
* Responsible for reconciling and researching variances for various general ledger suspense and asset accounts. This includes comparing DNA balances to the General ledger system.
* Manages and prepares payoff quotes, discharges of mortgage, partial releases and collateral releases for all commercial loans.
* Manages and monitors the continuations and terminations of UCC s. Also responsible for annual audits of UCC tracking of the portfolio.
* Monitoring, clearing critical DNA exceptions, i.e. Swaps, ACH, Unapplied items, Automatic Payment and Participations.
* Payment of various invoices for Real Estate Tax Service, UCC filing and Insurance tracking vendors.
* Responsible for the Real Estate Tax Escrow setup:
* Coordinate Fiserv/DNA/Corelogic tape to tape.
* Updating system with multiple parcels information.
* Coordinate with account officers, customers and taxing authorities all tax bill issues.
* Coordinate loan closing tax escrow deposit.
* Review MLC for tax status and take appropriate action with account officers.
* Responsible for the tracking of delinquent real estate taxes. Working with Corelogic, the Loan officer and municipality to resolve delinquency. Provide monthly reporting to Senior Management of delinquent real estate taxes.
* Assist department management with the continuous review and updating of online department procedures.
* Resolve all customer issues i.e. billing questions, tax escrow analysis.
* Assist in the management of participation loans (i.e. funding, tracking of payments, Participation loans both bought and sold).
* Responsible for obtaining and inputting Index Rates daily and weekly into DNA. (i.e. look up rates via various Internet sites, prepare control record spreadsheet).
* Contribute to the effective team management of all bank problems, issues, and opportunities.
* Perform other duties as required.
* College education or equivalent work experience, solid loan operations and documentation management experience necessary.
* 3-5 years banking experience.
* Solid loan servicing experience necessary. Strong computer skills to include Microsoft Office.
* Excellent communication, customer service and interpersonal skills.
* Ability to multitask and work with minimal supervision.
* Strong organizational skills.
* Ability to pay close attention to detail, work independently and meet deadlines is a fast paced environment.
The above description covers the most significant major responsibilities but does not exclude other occasional responsibilities and accountabilities the inclusion of which would be in conformity with the major purpose of this job.
Harvard Square - Cambridge, Massachusetts
Cambridge Savings Bank is an equal opportunity employer. EEO/D/V
Cambridge Savings Bank is committed to ensuring its application process provides an equal employment opportunity to all U.S. jobs seekers, including individuals with disabilities. If you believe you need a reasonable accommodation in order to search for a job opening or to submit an application, please contact Human Resources by calling 1-617-864-8700..