What are the responsibilities and job description for the Loan Servicing Specialist position at The Bank of New Glarus?
Job Summary:
This position is responsible for servicing the bank’s loan portfolio and following established lending policies and procedures. Specialists thrive in a multi-function role that aims to put the customers’ needs first. The Servicing Specialist is expected to utilize and follow established policies and procedures to ensure compliance with all lending regulations. The individual in this position will accurately assist with the inputting of data into the Bank’s Core System. The individual must have a working understanding of the Bank’s core system. Must also perform other tasks as assigned by the supervisor and senior management regardless of job title or routine duties.
Supervisory Responsibilities:
None.
Duties/Responsibilities:
1. Preparing and input data entry of new consumer loans, loan disbursing, loan file maintenance, and servicing of all loan types on the Bank’s Core System.
2. Prepares necessary disclosures in accordance with the regulatory requirements, including content and timing.
3. Helps promote a culture of regulatory compliance and safe and sound financial practices.
4. Knows and strictly follows all security, compliance, regulatory, internal control procedures, policies, and laws.
5. Be aware of and support the Bank’s efforts in meeting the Community Reinvestment Act (CRA).
6. Process daily functions of all loan records including Loan payments, Construction Draws, Advances, Participation Payment and Payoff Requests.
7. Generate and complete the Bank’s balancing reconciliation for secondary market loan programs. Accountable for insuring accuracy and completion of all required secondary market loan reports, which includes but is not limited to, Freddie Mac, Fannie Mae, FHLB, Farmer Mac and Rural Housing programs. Upon movement of a loan to collections, work with Loan Operations Manager for additional reporting that may be needed.
8. Prepares customer loan renewals when needed, which includes validating terms with lender, preparing renewal documents, validating payment history, updating loan file information (pulling and filing documents as needed) and completing the renewal work on the Bank’s core loan system.
9. Recertifies flood certifications and maintenance on the Bank’s Core System for HELOCs prior to maturity.
10. Primary Loan Processor for assisting in the follow-up of all incomplete loan file work for consumer loan customers via tracking and monitoring of items for the completion of each loan file:
a. UCC filings, amendments, and continuations.
b. MV-1s and lien perfections on vehicles/trailers/boats/etc. and continuations.
c. OFAC check when customer/guarantor is new to the Bank.
d. Flood Insurance monitoring and force placement.
e. other collateral perfection tracking, as assigned, for the Bank.
11. Reconciliation of the following general ledger accounts:
a. PMI payable
b. Branch loan holdovers
c. Appraisals payable
d. Recording Fees
e. CL & AH Insurance
12. Answer incoming customer calls with enthusiasm and professionalism.
13. Adhere to Bank of New Glarus policies and procedures as well as industry regulations.
14. Conduct detailed root cause analysis of customer issues or problems.
15. Pull monthly loan reports needed to validate loan balances by required category to complete submission reports to Bank’s blanket insurance provider(s).
16. Assist with the scanning and filing
17. Accurately complete all maintenance to loans as needed.
18. Resolve loan payment discrepancies.
19. One of the core group of loan support staff to:
a. Processing of loan payments.
b. Producing payoff.
c. Ordering of coupon books.
d. Disbursing mail, special deliveries, and faxes throughout the day
with occasional pick up and/or drop off mail to the post office.
e. Assist customers with questions relating to: Loan Servicing, Escrow
Analysis, Repayment Plans for Delinquent Property Taxes.
f. Works with Loan Operations Manager on special projects and mailings.
20. General administrative support work is a major part of this position and includes letter coordination; routine filing of loan documents and correspondence; follow-up phone calls on outstanding documents; and other duties as assigned.
21. Prepare communications accurately and timely in a professional manner.
22. Maintain confidentiality of all customer and employee information.
23. Respond positively to regular feedback and development suggestions.
24. Consistently demonstrates regular attendance and punctuality.
25. Other duties as assigned.
Required Skills/Abilities:
To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below 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.
1. Must be able to add, subtract, multiply and divide in all units of measure using whole numbers, common fractions, and decimals. Also interpret statistical information and graphs.
2. Proficient with a 10 Key Calculator, Keyboarding, Knowledge of Personal Computer and Wide Array of Software Applications.
3. Demonstrated effective communication skills and cheerful demeanor.
Education and Experience:
High school diploma or equivalent GED. 1-2 years of banking experience preferred.
Physical Requirements:
The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of those jobs. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
While performing the duties of this job, the employee is regularly required to sit for prolonged periods of the workday; use their hands and fingers; reach with hands and arms; talk plainly and hear accurately. The employee frequently is required to walk. The employee is occasionally required to stand; reach with hands and arms; climb and balance; and stoop, kneel and crouch. The employee must regularly lift and/or move up to ten pounds occasionally lift and/or move up to 25 pounds. Specific vision abilities required by this job include close vision, peripheral vision and the ability to adjust focus.
Travel Requirements:
None
BNG provides equal employment opportunities to all employees and applicants for employment and prohibits discrimination and harassment of any type without regard to race, color, religion, age, sex, national origin, disability status, genetics, protected veteran status, sexual orientation, gender identity or expression, or any other characteristic protected by federal, state or local laws.
This policy applies to all terms and conditions of employment, including recruiting, hiring, placement, promotion, termination, layoff, recall, transfer, leaves of absence, compensation, and training.
Please note this job description is not designed to cover or contain a comprehensive listing of activities, duties or responsibilities that are required of the employee for this job. Duties, responsibilities, and activities may change at any time with or without notice.
This position is responsible for servicing the bank’s loan portfolio and following established lending policies and procedures. Specialists thrive in a multi-function role that aims to put the customers’ needs first. The Servicing Specialist is expected to utilize and follow established policies and procedures to ensure compliance with all lending regulations. The individual in this position will accurately assist with the inputting of data into the Bank’s Core System. The individual must have a working understanding of the Bank’s core system. Must also perform other tasks as assigned by the supervisor and senior management regardless of job title or routine duties.
Supervisory Responsibilities:
None.
Duties/Responsibilities:
1. Preparing and input data entry of new consumer loans, loan disbursing, loan file maintenance, and servicing of all loan types on the Bank’s Core System.
2. Prepares necessary disclosures in accordance with the regulatory requirements, including content and timing.
3. Helps promote a culture of regulatory compliance and safe and sound financial practices.
4. Knows and strictly follows all security, compliance, regulatory, internal control procedures, policies, and laws.
5. Be aware of and support the Bank’s efforts in meeting the Community Reinvestment Act (CRA).
6. Process daily functions of all loan records including Loan payments, Construction Draws, Advances, Participation Payment and Payoff Requests.
7. Generate and complete the Bank’s balancing reconciliation for secondary market loan programs. Accountable for insuring accuracy and completion of all required secondary market loan reports, which includes but is not limited to, Freddie Mac, Fannie Mae, FHLB, Farmer Mac and Rural Housing programs. Upon movement of a loan to collections, work with Loan Operations Manager for additional reporting that may be needed.
8. Prepares customer loan renewals when needed, which includes validating terms with lender, preparing renewal documents, validating payment history, updating loan file information (pulling and filing documents as needed) and completing the renewal work on the Bank’s core loan system.
9. Recertifies flood certifications and maintenance on the Bank’s Core System for HELOCs prior to maturity.
10. Primary Loan Processor for assisting in the follow-up of all incomplete loan file work for consumer loan customers via tracking and monitoring of items for the completion of each loan file:
a. UCC filings, amendments, and continuations.
b. MV-1s and lien perfections on vehicles/trailers/boats/etc. and continuations.
c. OFAC check when customer/guarantor is new to the Bank.
d. Flood Insurance monitoring and force placement.
e. other collateral perfection tracking, as assigned, for the Bank.
11. Reconciliation of the following general ledger accounts:
a. PMI payable
b. Branch loan holdovers
c. Appraisals payable
d. Recording Fees
e. CL & AH Insurance
12. Answer incoming customer calls with enthusiasm and professionalism.
13. Adhere to Bank of New Glarus policies and procedures as well as industry regulations.
14. Conduct detailed root cause analysis of customer issues or problems.
15. Pull monthly loan reports needed to validate loan balances by required category to complete submission reports to Bank’s blanket insurance provider(s).
16. Assist with the scanning and filing
17. Accurately complete all maintenance to loans as needed.
18. Resolve loan payment discrepancies.
19. One of the core group of loan support staff to:
a. Processing of loan payments.
b. Producing payoff.
c. Ordering of coupon books.
d. Disbursing mail, special deliveries, and faxes throughout the day
with occasional pick up and/or drop off mail to the post office.
e. Assist customers with questions relating to: Loan Servicing, Escrow
Analysis, Repayment Plans for Delinquent Property Taxes.
f. Works with Loan Operations Manager on special projects and mailings.
20. General administrative support work is a major part of this position and includes letter coordination; routine filing of loan documents and correspondence; follow-up phone calls on outstanding documents; and other duties as assigned.
21. Prepare communications accurately and timely in a professional manner.
22. Maintain confidentiality of all customer and employee information.
23. Respond positively to regular feedback and development suggestions.
24. Consistently demonstrates regular attendance and punctuality.
25. Other duties as assigned.
Required Skills/Abilities:
To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below 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.
1. Must be able to add, subtract, multiply and divide in all units of measure using whole numbers, common fractions, and decimals. Also interpret statistical information and graphs.
2. Proficient with a 10 Key Calculator, Keyboarding, Knowledge of Personal Computer and Wide Array of Software Applications.
3. Demonstrated effective communication skills and cheerful demeanor.
Education and Experience:
High school diploma or equivalent GED. 1-2 years of banking experience preferred.
Physical Requirements:
The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of those jobs. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
While performing the duties of this job, the employee is regularly required to sit for prolonged periods of the workday; use their hands and fingers; reach with hands and arms; talk plainly and hear accurately. The employee frequently is required to walk. The employee is occasionally required to stand; reach with hands and arms; climb and balance; and stoop, kneel and crouch. The employee must regularly lift and/or move up to ten pounds occasionally lift and/or move up to 25 pounds. Specific vision abilities required by this job include close vision, peripheral vision and the ability to adjust focus.
Travel Requirements:
None
BNG provides equal employment opportunities to all employees and applicants for employment and prohibits discrimination and harassment of any type without regard to race, color, religion, age, sex, national origin, disability status, genetics, protected veteran status, sexual orientation, gender identity or expression, or any other characteristic protected by federal, state or local laws.
This policy applies to all terms and conditions of employment, including recruiting, hiring, placement, promotion, termination, layoff, recall, transfer, leaves of absence, compensation, and training.
Please note this job description is not designed to cover or contain a comprehensive listing of activities, duties or responsibilities that are required of the employee for this job. Duties, responsibilities, and activities may change at any time with or without notice.
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