What are the responsibilities and job description for the Sr. Commercial Loan Servicing Specialist position at Webster Five?
POSITION SUMMARY: Documents, boards, and maintains commercial loans appropriately. Tracks, oversees application of payments, and ensures adequate coverage for all commercial insurance policies. Ensures compliance with regulations for insurance, taxes, and escrow for commercial loans. Reviews loan activity, including interest, paydowns, fees, disbursements, researches discrepancies and reconcilements activities. Maintains confidentiality of bank records and customer information.
PRINCIPAL RESPONSIBILITIES:
- Collaborates with business banking, credit, and loan servicing team members to ensure all commercial loans are documented, boarded, and funded accurately.
- Boards, reviews, and edits new commercial loans. Validates data for proper boarding.
- Tracks and follows up on lists of missing or delinquent documentation.
- Works with Business Banking to ensure the proper insurance and tax policies are applied and follows up with customers or agencies.
- Processes approved commercial disbursement requests, modifications, and forbearance agreements.
- Conducts critical file maintenance and ensures supporting documents have been provided.
- Releases collateral and paid notes for paid loans in a timely manner.
- Answers/resolves basic and complex inquiries from customers and internal departments.
- Maintains confidentiality of bank records and customer information.
NOTE: This position description reflects management’s assignment of essential functions; it does not prescribe or restrict the tasks that may be assigned.
REQUIRED SKILLS: Sound knowledge of commercial lending/loan servicing, insurance/tax concepts, bank operations and the general ledger. Strong communication, analytical and organizational skills.
Detail oriented with the ability to manage workflow and meet deadlines within bank and regulatory guidelines. Ability to maintain confidentiality. Regular, reliable attendance is critical.
PHYSICAL REQUIREMENTS: Work is performed in an office environment, with frequent interruptions. Must be able to stay in a stationary position, operate a computer, move inside the workplace, and exchange information.
MINIMUM EDUCATION: Associates Degree or equivalent years of experience.
MINIMUM PRIOR EXPERIENCE: 3 years commercial loan servicing experience
Webster Five is an equal opportunity employer. We are committed to fostering and championing a culture of inclusion, equity, and diversity. Accommodations are available for applicants with disabilities.
