Firstrust Bank

  • Loan Operations Servicing Specialist II

    Location US-PA-Horsham
    Job ID
    2018-1787
    # Positions
    1
  • Objective

    Timely and accurately, complete daily SBA, Construction, ABL, Commercial, Business Banking & Consumer Loan Operations servicing tasks. Ensures regulatory compliance and responsible for analysis, solution-oriented recommendations, reconciliation and reporting review. Builds and maintains good working relationships with Relationship Managers.

     

    Provide assistance to unit staff members and customers including the research and answering of complex loan structure, system and compliance questions. Offer suggestions for process improvements. Participate in software upgrades including performing test scenarios.

     

    Firstrust Bank is an Affirmative Action Contractor and is an Equal Opportunity Employer.

     

    Minority/Female/Disabled/Veteran

    Responsibilities/Duties

    1. Assist in the development of new business for Firstrust. Is alert to expressed customer/prospect needs to suggest appropriate services. Directs customers to the appropriate person to open account. Actively sells and promotes corporate products to potential and existing customers. Possesses knowledge of corporate products and services to suggest products.
    2. Assure that all accounts are properly billed and collected in accordance with established loan requirements. Post payments received in a timely manner. Maintain unapplied balances on all loans; make payments with unapplied funds as required.
    3. Process change in terms and maintain accurate records with investors.
    4. Implement system changes, maintenance of rate and field changes, when required. Review, analyze and assist with balloon loan reporting. Make necessary adjustments to the loan record when applicable.
    5. Process payments and review the accuracy of incoming cash receipts/wires and reports submitted by servicers. Verify principal and interest distribution of funds on these remittances.
    6. Process SBA monthly remittance. Process monthly remittance due to investors.
    7. Resolve complex customer inquiries by performing detailed loan review, identifying issues and making applicable changes to the loan system including monetary adjustments and possibly system control records. Work with system support staff to assist with resolution. Suggest system and process changes to mitigate issue in the future.
    8. Sets up construction loan disbursement files; sets up new borrower credit files or assures new loan information is included in existing credit file.
    9. Assures receipt and approval of inspection and title bring down reports for all voucher requests. Schedules all disbursement transactions and inputs requests into the construction loan system. Prepares and presents disbursement documentation from the system; monitors and balances disbursement report.
    10. Sets up and maintains escrow accounts ensuring complete accuracy of account information. Maintains the integrity of the system data.
    11. Reconcile SBO activity and make adjustments to accounts as necessary. Review SBO rate changes and update system information as necessary. Prepare and distribute SBO delinquency report on a monthly basis.
    12. Assist with the timely implementation of all new products to the on-line system, including releases to the current program, and report all issues to the Commercial Loan Servicing Manager as they occur.
    13. Review monthly reports including tickler reports, deferred fees report, interest reserve report, exception reports and closed loans report and implement all necessary actions in accordance with bank procedure and policy.
    14. Review monthly interest billing statements for accuracy. Monitor interest reserve adequacy on all accounts; assures accurate billing if and when interest reserves are exhausted.
    15. Monitor exception reports for line of credit checks. Determine checks to be paid or returned. Review reports for payments received via lockbox and make necessary adjustments.
    16. Responsible for monitoring and updating the collateral recording information on loan accounting systems and taking specific action to maintain the Bank’s collateral position. Responsible for monitoring and updating the collateral value on negotiable collateral/brokerage accounts. Monitors system generated monthly tickler reports associated with UCC Collateral that requires continuation.
    17. Prepare mortgage satisfactions, UCC terminations, releases and assignments for all business lines including commercial, construction, business banking, business finance, and consumer lending . Prepare partial release documents for construction loans. Responsible for satisfaction and research of SBO (serviced by others) loans. Process monetary functions required to pay recording fees.
    18. Prepare payoff letters for all commercial and consumer loans, including satisfaction fees and pre-payment penalty calculations.
    19. Maintain an advanced working knowledge of the various core systems for understanding the impact of various field values and to solve complex system questions
    20. Provide for the effective handling of internal and external customer inquiries. Process research requests from customers for all loans types.
    21. Perform other tasks as assigned by Loan Operations Servicing Manager

     

    Essential Functions

    While performing the essential functions of this position, the employee may be required to ascend/descend stairs and work atop a small ladder to store and retrieve files.  The employee will need to position self to lift up to 20 pounds of materials for file maintenance.   The worker sits most of the time; however, some amount of mobility is necessary to accomplish tasks.  The ability to communicate and exchange information verbally and written is required.  The incumbent will operate a computer terminal and phone with repetitive motion, while analyzing or preparing data.  Temperature changes may occur during the workday in the office setting. 

    Knowledge - Skills & Abilities

    • 4 year college degree in a business or accounting degree preferred
    • 5+ years of experience in an SBA, Construction, ABL or Commercial loan operations position
    • Possess loan structure, servicing and regulatory knowledge of SBA, Construction and ABL loan products
    • Possess strong work habits, attention to detail and ability to work on a team
    • Possess a demonstrated commitment to quality service
    • Knowledgeable with MS Word and MS Excel. Experience with entire MS Office Suite helpful.
    • Detail oriented
    • Strong organizational and accounting skills
    • Ability to multi-task with an excellent degree of versatility and flexibility

     

    Options

    Sorry the Share function is not working properly at this moment. Please refresh the page and try again later.
    Share on your newsfeed