Sr. CML Loan Servicing Analyst

Position: Sr. CML Loan Servicing Analyst Job Type: Full Time Location: Taunton Massachusetts Department: Operations Reports To: Consumer Loan Supervisor OVERVIEW: The Senior CML Loan Servicing Analyst will be responsible for processing and managing servicing activities related to complex commercial loans. The Sr. CML Loan Servicing Analyst will work closely with the CML Loan Servicing Supervisor and Vice President Loan Servicing to review and monitor the accuracy and data integrity of the commercial loan portfolio ensuring all financial requirements and compliance with State, Federal, and Bank Policy are satisfied. The Sr. CML Loan Servicing Analyst will lead by example and be a valuable resource as the subject matter expert by providing training to new hires and internal and external customers. PRIMARY ACCOUNTABILITIES / RESPONSIBILITIES: Management of the complex commercial loan portfolio from boarding of the loan to dissolution of the collateral and loan. Onboards and funds all commercial loans including new loans, modifications, participation sales and participation purchases. Confirm proper approval have been received. Work closely with the lending team to track exceptions and any missing documentation on the Bank's tickler system. Processing complex loans such as SWAPs, participations in and out, Bonds and syndication loans. Ability to be the subject matter expert translating the documents and booking to the core. Maintaining accurate reporting of participation accounts and managing servicing relationships with participating banks. Process payoff transactions. Confirm sufficient funds to pay of loan in full. Return surplus funds and track, communicate and follow up on payoffs that are short funds. Prepare/reviews written payoff quotes, verify proper approval is received. Manages, monitors and reports on commercial loan collateral. Collateral monitoring includes but is not limited to real estate, titled vehicles, equipment, filing and renewal of UCC's. Responsible for consulting with Commercial Lending/Underwriting staff on processing loan modifications and maintenance. Responsible for assisting commercial lenders or customers with questions or issues regarding their loan accounts. Gathering data and documents for internal and external audits Processes collection activity on the Core system. Work in collaboration with the Commercial Department regarding loss mitigation, collections and repossession tactics. Monitors and processes daily requests in the department email box to meet customers service stands and turn or distributes the request to the appropriate department/team member. Reviews account maintenance for all monetary and non-monetary transaction for loan and deposit portfolio to ensure accuracy and adherence to state and federal regulations and /or bank policy. Responsible for monitoring daily and monthly loan reports including but not limited to: Deferred Fees, Interest Paid to Dates, ARC reconciliation, etc. Reviews loan files. Verifies all loan documents for accuracy and completeness and ensures proper collateral coverage for secured loans. Serves as a resource to the Commercial Lending Department by being the subject matter expert for all Commercial Loan Servicing Activities. Fields the more complex inquiries and assists in the training of the staff. Serve as a mentor for new hires. Serves as a backup to the Supervisor. Maintain a thorough working knowledge of SBA rules and regulations as pertains to servicing activities. Actively working to maintain the banks PLP status. Process, reconcile and Remit SBA 1502 Report. Actively participate and support the Bank's strategic goals, review processes to recommend improvements and create efficiency. Participate in performing and documenting monthly Operational Risk testing to ensure servicing tasks are completed timely, accurately and in compliance with financial controls and regulations. Process loan payments and reconcile payment discrepancies to ensure accurate posting to borrower accounts. Payments will be delivered through multiple channels (electronic payments, wires or physical checks). Lead/Assist with special projects for Loan Operations. Responsible for preparing maintenance sheets and general ledger entries, as needed. Responds to customer inquiries orally and in writing including payoffs and discharges. Researches and resolves servicing issues within scope of authority and expertise. Research and resolve issues related to commercial portfolio. Responds to customers' inquiries regarding consumer and mortgage; analyzes amendments, supporting documentation and advises customer of any impact of changes/terms. Subject matter expert for all internal and external questions and issues related to the commercial portfolios. Take the lead on monitoring and resolving issues and providing input into the overall control environment of our systems to increasing operational efficiency and reduce risk. Maintain a sound knowledge in regulation and law, loan accounting requirements and interpret, implement and administer company policies, procedures, manuals and systems to ensure proper controls are in place to maintain compliance with all applicable regulations including but not limited to FDCIA controls. Ensure all loan servicing activities comply with federal, state and local regulations. Maintain up-to-date knowledge of industry regulations and best practices. Maintain working knowledge of all internal software, vendor sites, and other electronic systems to enable completion of job responsibilities OTHER ACCOUNTABILITIES / RESPONSIBILITIES ( Supporting Role) Assist with timely remittance of tax, hazard/flood and insurance payments. Assists with quality control reviews as needed. Reviews primary loan documents for accuracy and completeness and ensures proper collateral coverage for secured loans. Assist with Consumer Loan Servicing activities as volume dictates. Other duties as deemed necessary. POSITION REQUIREMENTS: To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. A bachelor's degree preferred or increased years of experience in the position 5 - 8 years of Commercial loan servicing experience or relative equivalent experience Experience reviewing complex commercial loan documents Experience with commercial loan servicing and banking terminology Experience with bank core provider system. Prior COCC experience preferred Strong telephone techniques, communication and customer service skills. Understanding of the Bank's products and services. Attention to detail and well-organized. Reliable and professional. Must have a positive attitude and the ability to work in a changing business environment. Strong time Management Skills and ability to operate under demanding deadlines. Willingness and ability to learn new technology Excellent Attention to detail Must be proficient with Microsoft Office including Word, Excel, and Outlook. Ability to research and resolve problems Wide range of banking knowledge, or relevant experience within the banking environment and familiarity with bank operations, policies, and banking compliance issues. Knowledge of FDICIA controls and commercial loan servicing federal, state and local regulations. Including but not limited to Regulation O, and Flood Disaster Protection Act. Familiarity with consumer loan servicing regulation such as RESPA, SCRA, Regulation O, Homeowners Protection Act and Flood Disaster Protection Act. The Analyst must demonstrate organization, an analytical orientation and possess the initiative to work in an independent and reliable manner. WORK ENVIRONMENT: Work environment consists of typical office conditions with moderate noise level. Maintains a schedule consisting of in office and remote work (Remote work mirrors company-wide requirement and is subject to change). PHYSICAL QUALIFICATIONS: Candidate must have the physical ability to sit, stand, walk, talk and hear. Must be able to lift up to 10 pounds. Must have the ability to adjust focus. INDEPENDENT ACTION: Performs work independently within scope of established guidelines and practices. Consults with escrow team and supervisor when clarification or exception may be required. QUALIFICATIONS: To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed above are representative of the knowledge, skill, and/or ability required. Any physical demands or work conditions 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

Created: 2024-11-18