Commercial Loan Servicing Specialist

Woburn, MA
Full Time
Experienced

The Commercial Loan Servicing Specialist is responsible for a wide variety of tasks related to the servicing of commercial loans.

ESSENTIAL FUNCTIONS

  • Responsible for providing outstanding customer service to internal and external customers.
  • Demonstrates compliance with all bank regulations for assigned job function.
  • Reviews daily reports to ensure accurate customer billing, rate review, payment changes, transfers and performs maintenance necessary for corrections. Assists in the ongoing processing of exception handling by pulling and working entries from tracking reports.
  • Ensures accurate processing of payments, loan advances and transaction reversals necessary to maintain accuracy in the loan core system.
  • Processes all non-accrual and charge-off entries.
  • Provides payoff quotes, transacts the payoff in core and processes the paid loan paperwork including the preparation of collateral releases.
  • Assists or acts as the main liaison for the monitoring and payment of loan taxes escrowed and work with loan officers to monitor and follow up on delinquencies.
  • Assists or acts as the main liaison for the monitoring of hazard and flood insurance, including force placement.
  • Performs additional duties, departmental cross-training and participates in special projects as required.
  • Perform file maintenance in the core system as needed or directed.
  • Complete credit reference requests.
  • Maintain electronic loan documentation files; scan and index into electronic file system.
  • Work with loan officers and other personnel in the commercial lending department on loan servicing issues, research requests and other questions that arise.
  • Responsible for reconciliation of GL accounts.
  • Performs additional duties as requested.

JOB QUALIFICATIONS

  • 1-3 years’ experience in the lending area of the bank.
  • Business Degree or related field preferred.
  • Proficient in Computers.
  • Excellent communication and interpersonal skills.
  • Good organizational skills.
  • Ability to prioritize workflow and succeed in a multitasking environment.
  • Ability to work independently and within a team.

About Northern Bank & Trust Company

Northern Bank is a full-service bank dedicated to providing practical, common sense financial solutions to help our customers live their lives and grow their businesses. From deposit products to loans to payment and collections services, we work hands-on with our entrepreneurial customers, both locally and across the country, to provide the financial support they need to realize their personal and business goals. Founded in 1960, Northern Bank has assets of over $3 billion with 13 locations serving communities throughout Middlesex County. Northern Bank is a Member of the FDIC, and an Equal Housing Lender. For more information on online banking services, please visit www.NBTC.com or follow Northern Bank on Facebook (/NorthernBankM A/), Twitter (@northernbankma), Instagram (@northernbankma) and LinkedIn (company/northern-bank-ma/).

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