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Consumer Loan Servicing Specialist I

at Bangor Savings Bank in Bangor, Maine, United States

Job Description

Position Overview:Responsible for servicing the bank’s consumer loan portfolio while aiding in the implementation and execution of consistent controls to mitigate operational risk while providing exceptional levels of customer service to all internal and external clients. Responds to requests in an efficient and thorough manner with a focus on prompt and knowledgeable resolutions and demonstrates and/or develops a high-level of proficiency with the bank’s core banking system (Jack Henry Silverlake) to perform loan file maintenance and other updates to the system. Verifies all maintenance performed is accurate and relevant to particular loan product(s).Level 1: Primary focus is on personal development of skills and acquisition of knowledge related to role. Quality of work is vital to success and development to higher levels.Level 2: Level 1 expectations of continued development of skills, acquisition of knowledge and quality of work remain with additional focus on increasing amount of production of work-product.Level 3: Level 1 and 2 expectations of quality, production and continued development/knowledge growth remain with added responsibilities that may include training less-experienced associates, assisting with complex issues/projects, reviewing processes and procedures for improvement opportunities.

Key Accountabilities:

+ Responsible for understanding (and/or learning) the bank’s consumer loan portfolio.

+ Acts as a primary contact for internal and external customers on matters related to consumer loan servicing and aides in the development of necessary support structures, including monitoring and reporting, to ensure optimal customer service and processing accuracy and timeliness.

+ Able to apply individualistic thinking to devise solutions to business process and product issues.

+ Helps to ensure the bank adheres to applicable federal (and state) regulations pertaining to consumer loans. These include, but are not limited to, the following:

+ Consumer Financial Protection Board (CFPB)

+ Fair Credit Reporting Act (FCRA)

+ Real Estate Settlement Procedures Act (RESPA)

+ Homeowners Protection Act (PMI Act)

+ Service members Civil Relief Act (SCRA)

+ Truth in Lending Act (TILA)

+ Ensures consistent compliance with policies and procedures and a constant state of internal and external audit readiness.

+ Demonstrates an understanding of the consumer lending process and product set, including end-customer product usage and how products are structured.

+ Responsible for self-study on topics relevant to consumer lending in order to ensure the bank’s loan operations are current. To this end, reaches out to internal lending groups, external law offices and insurance agencies and others to acquire necessary knowledge.

+ Independently resolves complex customer issues accurately and timely, which often requires contact with internal departments, external law offices, insurance agencies, government agencies, credit bureaus, and others, as required.

+ Actively seeks opportunities to maximize operational efficiency and accuracy by creatively developing and implementing improved processes that help to mitigate risk and improve the customer experience.

General Accountabilities:

+ Ensures that the bank’s collateral interest is secured by managing lien perfection on collateral secured accounts and ensures accuracy of reporting with state agencies for collateralized loans.

+ Processes payments, reconciles accounts and provide allocations to various financial institutions and/or government entities.

+ Evaluates customer/loan officer requests for account modification/renewal for accuracy before conducting required transactions.

+ Reviews and evaluates periodic reconciliations for specific general ledger accounts to assist in identifying and managing loan exceptions.

+ Conducts various maintenance activities to update system as changes in processes occur

+ Tracks policy and documentation exceptions and works with loan origination areas and risk to devise ways to improve overall loan operations timeliness and accuracy.

+ Interacts harmoniously and effectively with others, focusing upon the attainment of bank goals and objectives through a commitment to teamwork.

+ Conforms to acceptable punctuality/attendance standards as expressed in the Employee Handbook

+ Performs additional duties as assigned including providing training to newly hired colleagues.

Functional Areas/Tasks Include:

+ New Loan Documentation Review

+ New Loan Booking to Core System (Jack Henry Silverlake)

+ Loan Modification Coordination and Processing

+ Home Equity Loan Servicing

+ Collateral Tracking and Discharges

+ General Ledger Reconciliation

+ General Loan Account Maintenance

+ General Customer Service Activities (via Phone and E-Mail)

+ Credit Bureau Reporting and Disputes

Key Competencies:

Creativity/Innovation – Looks for opportunities to increase efficiency and effectiveness throughout the department. Has ability to constructively challenge assumptions and seek/develop new and different ways to improve performance and engagement throughout department.

Adaptability/Flexibility – Adapts to change, is open to new ideas, takes on new challenges, handles pressure, and adjusts plans to meet changing needs.

Proactivity/Initiative – Takes independent action, operates as a pro-active self-starter, and acts on opportunities, practices self-development.

Integrity/Ethics – Deals with others in a straightforward and honest manner, is accountable for actions, maintains confidentiality, supports company values, and conveys news good or bad.

Interpersonal Skills – Has excellent communication skills, both written and verbal as well as the ability to exhibit active listening skills and being open other viewpoints, perspectives, etc.

Organizational Skills – Able to effectively manage, prioritize and keep track of multiple tasks/projects/requests at any given time.

Vision/Values – Supports company mission/values through daily actions and decisions, communicates the Bank’s vision, mission and values to others, and incorporates vision when planning

Knowledge/Experience:

+ College Degree Preferred

+ High School Diploma or Equivalent Required

+ Banking and/or Loan Experience Helpful

Skills:

+ Committed to providing exceptional customer service

+ Strong computer skills with the desire to learn and apply new technology

+ Demonstrated ability to effectively communicate, verbal and written

+ Proven ability to meet goals and standards and perform in a fast-paced, challenging work environment

+ Capacity to work with little supervision and make independent decisions

+ Ability to research and solve problems

+ Ability to manage multiple tasks concurrently and prioritize accordingly

+ Required to attend ongoing training sessions to improve professional skills.

Physical Demands/Conditions:

+ General office environment

+ Moderate lifting (to 35 lbs.) required. Moderate reaching, walking, sitting and standing required

Equipment Used:

+ General office equipment

External and internal applications, as well as position incumbents who become disabled, must be able to perform the essential functions either unaided or with the assistance of a reasonable accommodation to be determined by management on an individual basis.

At Bangor Savings, we understand the importance of continuing to nurture an internal culture of excellence for each of our employees. We offer internal and external training to assist our employees in realizing their career aspirations including internships, lateral training, management training, and tuition reimbursement.

We also offer a unique set of benefits designed to support our employees in living their best life and achieving their goals. Our holistic health and wellness programs allows each employee to customize t

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Job Posting: JC191920869

Posted On: Sep 09, 2021

Updated On: Oct 09, 2021