What are the responsibilities and job description for the Operations Analyst - Escrow Department position at Dollar Bank, FSB?
Job Function / Purpose :
The Operations Analyst will work along with the Escrow Manager to assist in the responsibilities in planning, directing, controlling, and monitoring of all functions within the escrow department. Includes ensuring all escrowed items are paid within required timeframes; ensuring departmental compliance; implementing and performing management controls; and identifying and implementing strategies to improve the quality of service, productivity, and profitability.
Qualifications :
High school diploma / GED is required. Bachelor's degree in business-related field or commensurate experience preferred.
Three (3) years of prior experience in retail loan servicing preferred; at least one (1) in the escrow (taxes and insurance) field preferred.
Must be able to manage time efficiently, prioritize tasks, meet deadlines, and coordinate multiple and changing priorities in a demanding environment.
Advanced problem-solving ability. Must be able to research independently and make sound decisions. Must have the ability to implement and monitor identified changes.
Must be customer focused and must be able to proactively handle client complaint calls in a calm, professional manner.
Must have excellent telephone, written, and verbal communication skills
Must be a self-starter that identifies departmental improvement opportunities and develops solutions through implementation.
Must have extensive knowledge of Microsoft Office to include advanced knowledge of Microsoft Excel to create and maintain complex spreadsheets (testing will be administered).
Principal Activities / Objectives :
Ability to assess department need / opportunities to improve the quality of service, productivity or efficiency and make recommendations to the Escrow Manager
Monitor and maintain compliance with all investor and regulatory requirements as well as the Bank's policies and procedures and establishes appropriate controls
Research and resolves complex servicing issues, including but not limited to potential losses and resolving system issues and / or developing workarounds until system issues are resolved
Responsible for managing special projects within department, including a timetable for completion, and ensuring completion within allotted timeframes
Identifies and implements strategies to improve the quality of service, productivity, and profitability
Responsible for release testing for areas of responsibility
Receive, process, and respond to a variety of upgraded requests
Provide excellent customer service by promptly and courteously keeping clients informed throughout the research process and responding in a timely manner
Thoroughly review, follow-up, notate and respond to customer inquiries in a timely and accurate manner within compliance and investor guidelines
Oversee and ensure all taxes are paid from borrowers' escrow account to meet taxing authorities' due dates to protect our lien position and to avoid interest and penalties
Oversee and ensure all insurance premiums are paid from borrowers' escrow account in a timely manner based on the expiration date on insurance documentation to protect the Bank's asset
Manage non-escrowed loans to verify taxes and insurances are paid to protect the Bank's asset
Oversee and ensure PMI premiums are paid from borrowers' escrow accounts timely to protect Bank's asset
Research delinquent taxes to protect the Bank's assess and lien position
Back up processing of loss draft claims based on investor guidelines
Back up Escrow Specialist II position responsibilities for monitoring flood insurance and lender placed homeowners and flood insurance.
Back up Escrow Specialist II position responsibilities for ensuring reports are worked and represent the escrow department in the monthly Compliance Committee meeting with Legal Compliance Department
Assist in obtaining required documentation for audits
Promote and create positive team environment within the department
Responsible for training and cross-training of all department functions
Monitor and track reports to ensure timely completion of work
All employees have the responsibility and the accountability to serve as risk managers for their businesses by understanding, reporting, responding to, managing, and monitoring the risk they encounter daily as required by Dollar Bank's risk management program. Compliance with regulatory laws and company procedures is a required component of all position descriptions.
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