Commercial Loan Clerk, Sr. jobs in Massachusetts

Salem Five is a growing regional financial services organization with a rich history of over 160 years.  As an independent bank, we are deeply rooted in the communities we serve and offer our employees successful and rewarding careers.

This position requires the ability to work in the Salem, MA offices. 

Who We Are: Join an organization that prioritizes innovation, customer service and supporting the communities we serve. Love the people you work with while participating in and helping to shape our collaborative environment. When you join Salem Five, you become part of a growing, regional financial services company. Salem Five has more than 30 retail banking branches throughout Essex, Middlesex, Norfolk and Suffolk counties, strong business banking capabilities, an Insurance division, a Wealth Management & Trust organization and a Mortgage Company that has provided homeownership to generations of families. 

 Why Salem Five: We’ve been around since 1855 – which means we will be around a lot longer – but we also know what it takes to be competitive in this day and age.  We pride ourselves in being one of the first banks on the internet and continually try and push ourselves to offer the latest in online and mobile banking to serve our customers in whichever channel they prefer. Whether it be a virtual assistant via our website, obtaining cash at ATMs without a card present, or going through the mortgage process via our digital app, we want to offer the digital experiences that customers want. Continued company growth offers opportunities for individual growth. 

Salem Five believes deeply in supporting the communities in which we reside. Donations through our Charitable Foundation or events at the branch or location-level are an important part of our DNA. We would not be the company we are without our commitment to businesses and organizations that help the region thrive and to our employees. Come see what we’re all about. 

ESSENTIAL DUTIES AND RESPONSIBILITIES include the following. Other duties may be assigned.

• Perform all department functions in accordance with established policies and procedures; analyze loan packages received to determine best course of action to board to core system (DNA); ensure standards for a complete closing package are met; board all new credits to system of record; process payments and advances; issue statements and notices; adjust interest rates as agreed; respond to internal and external customer inquiries and requests; maintenance to customer, account, or transactional records; maintain official loan files; ensure boarding of documents to document image system of record with appropriate QC; manage collateral position and release; manage tax and insurance escrow; first level accounting reconcilement
• Responsible for tracking and maintaining all legal documents including imaging and QC along with tracking of all missing documents. Execute timely to ensure all items received are imaged and all missing items are reporting weekly via  audit reports to Commercial Operations.
• Responsible for critical function of updating rate indexes daily in core system with a dual control. 
• Responsible for processing any manual rate changes or adjustments required at a loan level.
• Monitor and follow-up on commercial loans designated in a Flood Zone.  Work with Loan Officers and in accordance with RESPA to ensure appropriate insurance.
• Responsible for filing of UCC’s financing statements with the City, State or Registry.  Track renewals for five year continuation and process UCC terminations.
• Review and recommend adjustments to processes to optimize efficiency, customer experience and controls.  Includes ensuring ongoing training on process and systems to fully leverage automated tools for efficiency, quality and control.
• Implement and sustain strong control environment and disciplines, including:                                                                      --The development and maintenance of written operating procedures for all daily, monthly, quarterly, and yearly loan            operations tasks. Maintaining controls to ensure: duties executed accurately and as scheduled, data quality on systems of record, and compliance with bank policy and laws and regs.
• Reconcile invoices including any requiring manual adjustments from Customer accounts to offset costs
• Responsible for timely and accurate preparation of payoff quotes; processing of payoff funds; preparation of discharges.
• Responsible for processing approved charge off’s in accordance with policy and accounting standards
• Archiving paper records in accordance with retention procedures
• Maintaining exceptional customer service levels with internal and external customers. Executing on service requests within established SLA’s
• Responsible for preparation of wires for dealers and participations
• Works with the Product Development Team as needed to prepare for the roll out of new loan products.  Assists with testing and implementation of those products, as well as training and updating of SOP’s to appropriately support the new product.
• Assist with any internal/external loan system conversion with management support. Performs all testing of new system enhancements or program changes.

EDUCATION and/or EXPERIENCE

Bachelor’s degree preferred; at least 5 years of experience in commercial lending, credit, or loan servicing. Demonstrated capability and familiarity with Microsoft products utilizing Excel and Word. Strong analytical and technical support experience a strong plus.

PHYSICAL DEMANDS: 

The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. 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 and use hands to finger, handle, or feel.  The employee is occasionally required to walk.  Specific vision abilities required by this job include close vision.

Benefits/Incentives:  Health Insurance, Dental, Vision, Flexible Spending Account, Health Savings Account, 401k Matching, Tuition Reimbursement, Employee Referral Program, Summer Family Outing, Annual Holiday Reception and more

Salary Range:            Competitive Base 

Ready to apply? If this job sounds like a fit for you, then click on Apply/Apply Now in this posting. We look forward to talking with you.