Commercial Loan Servicing Manager

Description

Who we are

Seattle Bank is a locally owned, digitally driven financial institution that provides personal, business and partner banking services and the website, CD Valet®. Our experienced team and open API, cloud-based core technology platform deliver a boutique bank experience for clients with interwoven personal and business financial needs. Our highly configurable and scalable tech stack also supports partner banking that enables companies to embed banking transactions into their customer online experience. Seattle Bank’s most recent innovation is CD Valet® , a new online marketplace that connects consumers to financial institutions to compare and open Certificates of Deposit (CDs) with the most competitive rates and terms nationwide. Seattle Bank is a wholly owned subsidiary of Seattle Bancshares, Inc., a privately held bank holding company. Visit Seattle Bank for more information.   

Position Summary

The position of Commercial Loan Servicing Manager is responsible for administering the Bank’s commercial loan portfolio by partnering with Relationship Managers, Credit Administration and Loan Operations to process, document, book, fund and service commercial loans. This role is responsible for configuring customized loan products in the servicing platform as well as troubleshooting, escalating & resolving system issues.

Essential Duties

• Manages and monitors Commercial Loan Servicing on an ongoing, day-to-day, and transactional basis
• Administers core systems, processes and procedures. 
• Maintains and demonstrates proficiency with various loan software applications 
• Works with system providers and vendors to utilize applications to the fullest capacity, streamline processes and procedures, and ensure accuracy and compliance. 
• Understands, documents and trains lending personnel on all systems including but not limited to Finastra products such as Phoenix & LaserPro
• Collaborates with IT department to implement periodic updates to system software, implements QC to verify that enhancements are working correctly
• Prepares customized loan documentation for all types of Commercial Loans while ensuring compliance with the credit approval, policies, laws and regulations. 
• Boards new and renewed loans accurately and timely, disburses loan funds, and maintains organized electronic collateral files.
• Coordinates complex loan deals in collaboration with Relationship Managers, customers, attorneys, appraisers, title company representatives and other applicable parties during all phases of the loan closing. 
• Participates in the preflight generation process with the Relationship Managers and Credit Administration to ensure that all documentation requirements are identified before approval.
• Acts on items affecting the disbursement process, including change orders, sufficiency of funds, liens, set asides, restricted starts, etc.
• Orders and reviews third party reports based on collateral type to include title commitments, final title policies, flood determinations, environmental reports, UCC searches and tax monitoring.
• Analyzes title insurance commitment reports for acceptability and required endorsements to meet bank guidelines. Coordinate the clearing of title issues/exceptions that need to be removed and prepares title/escrow instructions. 
• Ensures that the bank’s lien position on collateral has been accurately and timely perfected and protected through UCC filings, Deed of Trust recordings, and assignment of applicable insurance policies.
• Mentor and train Commercial Loan Administrators. 
• Provides reports and files as needed for Management, Auditors, Regulators and/or the Board as necessary.
• Follows all Bank policies, procedures, compliance regulations and training requirements. 

Requirements

• Experience using and resolving issues with core banking platforms such as Fiserv, Finastra, Jack Henry
• Extensive knowledge with banking products and services, loan origination, processing, underwriting, credit analysis, approval, documentation, funding, and servicing, as well as loan related software systems
• Minimum five (5) years of managing Commercial Loan Servicing operations, or similar relevant experience.
• Strong knowledge and experience with Finastra LaserPro & Phoenix preferred
• Experience in a small community banking environment preferred
• Bachelor’s degree (BA) or equivalent from a four-year college or university
• Strong troubleshooting and root cause analysis skills
• Can competently review business entity documents for completeness and accuracy
• Demonstrated ability to analyze title policies, environmental reports, flood determination, insurance requirements, and UCC filings
• Loan administration experience and knowledge of borrowing based lending, construction lending, letters of credit, and multiple collateral loans
• Solution mindset with focus on process improvement and problem solving
• Strong organizational skills with the ability to work on multiple projects, requiring flexibility with changing priorities and ability to prioritize to meet deadlines
• Knowledge of state and federal banking compliance regulations, bank operational and lending policies and procedures, and the bank's products and services, including applicable lending regulations
• Exceptional verbal, written and interpersonal communication skills with the ability to apply common sense to carry out instructions and instruct others, train personnel, read, analyze and interpret documents and professional journals, understand procedures, write reports, professional correspondence, speak clearly to customers and employees.
• Self-directed person with the ability to thrive in an ambiguous environment
• Proficiency with personal computers and related software packages such as Word and Excel.

Seattle Bank Benefits

We’re committed to delivering our promise of peace of mind to our clients. But we’re also committed to our team members. We have intentionally designed a culture and workspace that are highly collaborative, inclusive and supportive. We believe in the value of each team member and offer a full range of benefits and perks designed to support both your personal and professional goals. Our comprehensive benefits program for eligible employees includes:  

• Medical, Dental and Vision insurance  
• Employee Assistance Program (EAP), Life Insurance, Long Term Disability, Voluntary Life  
• 401K with Bank contribution  
• Paid Vacation – 3 Weeks 
• Paid Sick Time – 1 hour per 40 hours worked. 
• Paid Holidays – 10 days 
• Stock Options 
• Annual Bonus Opportunity   
• Transportation Benefits 
• And fun, extra perks such as company socials and lunches, team development activities, bank sponsored volunteer opportunities, paid volunteer hours, quarterly incentive awards, and professional development opportunities.