Escrow Servicing Manager (Onsite)

Newtown Savings Bank is seeking an experienced loan servicing professional, with strong leadership and communication skills, to join our team as Escrow Servicing Manager. This role is primarily responsible for all Escrow Servicing; overseeing the escrow processes which includes the payment of commercial and residential real estate taxes, insurances, and other escrowed fees. Oversees and maintains Mortgage Electronic Registration System (MERS) relationship and monthly reconciliations. Maintains effective controls to ensure the processes are documented, measured, and meet internal policies/procedures and regulatory and investor requirements. Monitors and measures existing processes to maximize the efficiency of existing systems. This is an onsite opportunity at our Corporate office in Newtown, CT. This role has remote option of one day per week.

PRIMARY RESPONSIBILITIES

• Oversee the escrow process to ensure disbursements for real estate taxes, hazard insurance, flood insurance, condo fees, mortgage insurance, credit life and disability are paid timely.
• Oversee the annual escrow analysis process, ensuring state and federal regulatory requirements are met. Oversee the ordering of annual escrow statements; analyze overages and shortages and/or deficiencies for all escrow accounts.
• Oversee collateral tracking including vehicle titles, flood and hazard cancellation notices and placement/removal of force-placed insurances. Ensure regulatory requirements are met. Prepare a monthly report of outstanding items for management.
• Responsible for the Mortgage Electronic Registration System (MERS) relationships, this includes system administration functions, ensuring all requirements are met and any training needed.
• Oversee the review of all flood worksheets. Ensure that there is sufficient coverage throughout the life of the loan and that current regulatory guidelines are met.
• Responsible for managing delinquent real estate taxes, work with borrowers or town clerks’ offices on a resolution. Provide recommendations to management.
• Oversee the monitoring of Private Mortgage Insurance (PMI) cancellations, monthly MILAR report and the production of new escrow analyses.
• Oversee the daily and monthly reconciliation of specified general ledger accounts and the generation of assigned management reports. Ensure the accuracy and timely completion of reports assigned to staff. Ensure all prior month’s reconciliation are submitted to Finance by the 28th of the month.
• Assist with opening cases with the core vendor on loan related issues. Responsible for system testing during annual release of core upgrades. Train loan staff on enhancements as necessary. Assist with year-end tasks as necessary.
• Perform system parameter maintenance, queries and reports as requested by management.
• In conjunction with other managers prioritize workflow and improve processes.
• Keep up to date on rules and regulations related to assigned functions and recommend updates as needed.
• Assist staff with sensitive customer issues, professionally problem-solve and determine a mutually agreeable resolution for both the customer and the Bank.
• Assist with internal and external audits as needed.
• Assist with project management for new products, procedures, reports, and staff training as it affects your management area.
• Conduct at least 2 monthly department meetings with staff to discuss workflow, improve procedures and new technologies or systems. Weekly meetings with direct reports.
• Participate in various civic and community functions to further enhance the image of the bank and to network for continuous new business opportunities.
• Establish SMART goals, perform quarterly goal assessment and annual performance evaluations of direct reports, coach and motivate, recommend personnel actions, and ensure that assigned tasks are completed within required timeframe.

POSITION REQUIREMENTS

• Bachelor’s degree and 4-7 years in loan servicing or similar work experience and 2-4 years of management experience.
• Must demonstrate knowledge of Investor Servicing and have performed reporting, remitting, and reconciling of accounts.
• Should have a basic knowledge and understanding of all aspects of loan collateral tracking as well as the payment of taxes and insurance.
• Basic knowledge of Microsoft Office and the Encompass LOS system is a plus.
• Will need to stay abreast of all regulatory and Investor requirements.
• Must have strong leadership skills and the ability to communicate.
• Must be well organized, dependable, and work well in a team environment.
• Must be goal and deadline oriented.
• Tasks are often complex and require the ability to formulate decisions or recommendations.

QUALIFICATIONS

To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed above are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

Any physical demands or work conditions described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

Full time employees also receive a complete benefit package including a generous 401(k), medical benefits, paid time off, and short and long term disability programs.

Newtown Savings Bank is an equal opportunity and affirmative action employer regardless of race, gender, disability status, protected veteran status. All qualified applicants will receive consideration for employment without regard to race, color, religion, gender, age, marital status, national origin/ancestry, sexual orientation, gender identity, disability status, protected veteran status, or any other legally protected status.