Loan Servicing Specialist

Description

BASIC FUNCTION:

Process loan booking (new, renewal, & modification), perform loan file maintenance, and process transactions required for quality loan servicing. Process paid out loans and prepare collateral releases. Post payments received via mail or parcel services. Maintain loan documents in the bank’s imaging system and in paper format, where required. All duties should be performed in accordance with established policies and procedures, with appropriate documentation of actions taken. Additional tasks required for the operation of the department to include mail runs, clerical tasks, and any others reasonably assigned tasks by management.

ESSENTIAL FUNCTIONS: 

• Loan file maintenance, renewal/modification, and paid out processing
  • Process requests from bank personnel to modify loan account information, after verification of accuracy of request and completeness of documentation (proper approval, as applicable; consistency with other account information; research of appropriateness of request)
  • Retain necessary documentation of actions taken in the performance of all tasks for maintenance review
  • Perform relevant account maintenance to reflect renewal or modification to terms in accordance with loan documents executed by customer
  • Upload new loans into core system to reflect signed contracts and loan documentation executed by customer
  • Perform collateral releases and prepare correspondence to borrower to process paid out loans; perform and retain necessary documentation of action taken
• Facilitate accurate accounting of loans in the core system
  • Resolve un-posted transactions
  • Perform transaction postings and reversals as needed for accurate accounting
  • Assist in processing wires and other electronic transactions
  • Update core system to reflect corrections needed/found to ensure correct reporting (if applicable)
• Perform other duties pertaining to the quality servicing of loan accounts as assigned by management.

SKILLS, KNOWLEDGE, AND TRAINING:

• Organizational and time-management skills to work efficiently and complete tasks in a timely manner
• Ability to identify and manage workflow priorities with nominal supervision
• Interpersonal and communication skills to represent the Bank in a positive way in dealing with customers and co-workers and convey information effectively 
• Strong attention to detail and ability to learn quickly
• Mathematical aptitude 
• Knowledge of computer technology including, but not limited to, Word, Excel, e-mail, and internet navigation

WORKING CONDITIONS: 

• Sitting for extended periods of time; approximately 8 hours a day with the ability to move around a little.
• Lift 10-20lbs periodically.

REQUIREMENTS:     

• High school diploma or equivalent  
• Prior banking experience preferred

Qualifications