Loan Servicing Operations Support Analyst I - Guilford, United States - Guilford Savings Bank

Description

Job Description

POSITION DESCRIPTION:

Responsible for administration and product support of routine to semi-complex analytical, administrative research, creating and maintaining management tracking reports and data entry functions related to mortgage, consumer and commercial loans minimizing risk to the bank. This position requires a sound understanding of local, state, and federal lending compliance and regulations. Additionally, the Loan Servicing Operations Support Analyst I will be expected to assist in implementing new projects that align with the Banks' strategy of increased efficiency and prudent growth while paying attention to detail from a risk control perspective to mitigate monetary and reputation risk for the Bank.

Reporting to the Loan Servicing Operations Manager the Loan Servicing Operations Support Analyst I will ensure the efficient operation and servicing of the Bank's Commercial, Residential and Consumer Loan portfolios to include servicing and reporting of participation, investor loans, escrow administration, new loan set-up, flood, hazard and private mortgage insurance monitoring and tracking. Support monitoring and resolving issues and providing input into the overall control environment of our systems to increasing operational efficiency and reduce risk. Assist in identification, control and modification of operational risks associated with Loan Servicing. 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.

This position is responsible to help identify and make recommendations on such items as improved efficiencies, policies and procedures, actions to achieve plans and the like. The ideal candidate will be embrace continuous improvement methodologies and efficiencies and operate with a keen eye towards strong and effective internal controls while driving a Customer first culture within their areas of responsibility.

Functional:

• Works as a key member of the Loan Servicing Team responsible for boarding new loans to the core system and conducting the post closing new loan review, investor remittance, loan file maintenance review, loan servicing, tax escrow, insurance, loan payment, collateral documentation, participation loans, construction loans, quality control functions, report writing, paid loans and accurate document retention functions.
• Work in conjunction with the Loan Servicing Operations Manager and Finance Department to ensure that charge-offs, write-downs and recoveries are processed timely and accurately on the Bank's loan systems and balance sheet.
• Performs the processing and timely payment of real estate taxes, insurances and wire transfers.
• Assists with customers' problems and complaints, researching records, and resolving matters.
• Conducts post-closing new loan review of audit of files verifying accuracy of new loan set-up, that the loan closed in accordance with loan policy and all stipulations have been met.
• Responsible for accurate and timely investor reporting for all investor loans. Ensures accuracy of sold and purchased Investor Loan System set-up. Ensures the accurate and timely incoming and outgoing remittance of monthly payments to investors and reconciliation of custodial accounts on a daily and monthly basis
• Ensures compliance with Real Estate Settlement Procedures Act (RESPA) requirements as they pertain to Initial and Annual Escrow Statements.
• Performs the collection of bills, disbursement of funds from escrow/General Ledger accounts and the submission of payments related to Real Estate Taxes, Flood Insurance, Private Mortgage Insurance and Life and Accident & Health Insurance premiums.
• Performs and monitors the tracking of Flood and Hazard insurance, ordering of forced place insurance as required. Also, keyman life insurance policy, stock certificates and life insurance policies pledged as collateral.
• Assists in the development of new products and services that enhance internal and external customer service as well as improve process effectiveness and efficiencies within the department.
• Updates and monitors private mortgage insurance (PMI) mortgages to ensure compliance with the Homeowners Protection Act of 1998.
• Creates as needed and validates review reports for adjustable rate interest rate changes ensuring sound quality control practices are in place and are effective.
• Reviews the mortgage and loan billing statements for compliance with Dodd-Frank CFPB guidelines and accuracy.
• Performs required tasks associated with the processing of delinquent and charged off accounts as directed by the Assets Recovery Manager and Finance Department.
• Maintains professional and technical knowledge through attendance at workshops, courses, and seminars, through review of professional publications, and through participation in professional societies.
• Maintains general awareness of trends and innovations pertaining to loan servicing technology, procedures, and compliance issues.
• Performs independent Loan File setup and Documentation Review and maintenance (as needed) of new loan accounts set up in the core processing system. (Including but not limited to comparison of loan approval documentation, collateral documents and new loan edit to system set-up)
• Support the on-going maintenance of the Bank's SBA program and ensure all components remain compliant with all State and Federal Regulatory guidelines.
• Prepare, document and process Line of Credit advances upon customer and Loan Officer request. Confirm proper approvals and sign-offs have been received in accordance with Loan Policy, complete wire transfer, process internal deposit or provide a check as requested by customer.
• Assist in the remediation of all exception processing items on a daily basis.
• Daily and monthly report review to identify, research and resolve potential loan related issues
• Participation Loan processing, balancing and monitoring for bought and sold participation loans.
• Process all monetary/General Ledger transactions associated with the new loan set-up, customer payments and FASB processing into the core processing system.
• Perform required file maintenance within the core processing system with Loan Officer approval.
• Obtain current rate indexes, monitor and review adjustable rate loans via reports and notices for Loan Products.
• Process board approved loan charge offs on the Core Processing System.
• Compile information and prepare month end, quarter end and year end reports for management.
• Create, process and maintain accurate accounts and tracking reports for Line Commitments.
• Process and monitor loan modification requests. Responsibilities include interaction with the attorney, review of documents prior to signing for accuracy and completeness. Additionally, upon execution of the documents, ensure that appropriate fees are collected, documents are complete and accurate and core processing system is updated accurately and appropriately based on document interpretation.
• Respond to internal and external customer inquiries and issues. Research records to determine problems and make appropriate corrections, if necessary. Provide information within the scope of knowledge and authority in accordance with the Bank's internal and external customer service standards and regulatory guidelines.
• Research credit disputes and submit credit bureau corrections as needed.
• Set up, track and monitor UCC fillings to ensure lien perfection and prevent lapse in filing.
• Other duties as assigned.

Operational Risk:

• Review processes and procedures identifying opportunities to enhance service delivery, optimize workflows and enhance operational effectiveness and efficiencies while minimizing risk; Present ideas for discussion and implementation approval.
• Ensure operational processes are in-line with the Federal and State regulatory frameworks and Bank policies and procedures.
• Continually assess front to back, key process controls that effectively mitigate the Bank's operational risk and make suggestions to Management for any improvements to more effectively manage inherent risk.

Communications:

• Build and develop strong productive relationships with all key internal stakeholders to ensure efficiency, customer satisfaction, compliance and cost management.
• Actively support and promote a culture of change and ensure day-to-day service quality is maintained through periods of strategic change.
• Excellent verbal and written communication skills.

Project Management/Vendor Management:

• Must be able to function within a team of skilled professionals including goal setting and performance management, sharing knowledge and experience, provide guidance and collaborate with internal and external business partners to meet project goals and deadlines.

Other Requirements:

• Attend Compliance/Regulatory webinars for a full understanding of Lending Regulation and Compliance Requirements
• Critical and Strategic thinker with a strong attention to detail.
• Strong problem solving, analytical and decision-making skills. Demonstrates ability to work independently on routine to semi-complex issues and projects. High regard for important details, with excellence in attention to detail, to assure accuracy in every transaction, report and /or process; detect errors, follow through on corrections and details.
• Represents the interests of the Bank by participating in various community and civic activities.

KEY QUALIFICATIONS:

• Ability to work in a high activity/fast paced environment while managing associated stress.
• Possess excellent organizational skills and ability to work independently.
• Ability to handle ambiguity, juggle many tasks at once and quickly shift from one situation to another.
• Ability to identify, research, troubleshoot and analyze problems and determine action plans to address root cause.
• Documenting process flows and creating procedures for the functions performed.
• Shares knowledge of processes and systems with new analysts.
• Contributes to the development of re-engineering methods to improve processes, reduce risks, increase controls and/or increase customer satisfaction.
• Experience and/or willingness to learn to create and generate various operational, management and adhoc reports through Cognos is a plus.
• Excellent communication skills, listening and negotiation skills in order to articulate ideas and thoughts clearly through various means, including written and oral communications with all levels of the organization.
• Build positive working relationships with business partners to enhance the customer experience.
• Demonstrate commitment to providing effective client service by seeking to understand customers, internal and external, requirements and addressing their concerns.

DIGITAL LITERACY:

The ability to use data, information, and communication technologies to find, evaluate, create, and communicate information, requiring both cognitive and technical skills

• Information, data, and content
• Teaching learning and self-development
• Communication, collaboration, and participation
• Digital identity, safety, and security
• Technical proficiency with all bank products
• Awareness and interest in new technology
• Creation, innovation, and research

EDUCATION REQUIRED: 2 Year College Degree or equivalent work experience.

EXPERIENCE REQUIRED: One year to three years of similar or related experience. Superior customer service skills are required, preferably within the Banking industry. Significant proficiency using Microsoft Office Products, including Word, Excel, Outlook, and One-Note is required. Advanced reporting tool and Adobe Acrobat experience is a plus.

*Compensation: Compensation is based on our market pay structures. However, individual salaries are determined by a variety of factors including, but not limited to business considerations, local market conditions, and internal equity, as well as candidate qualifications, such as skills, education, and experience.

GSB is an equal opportunity employer and offers equal opportunity to all applicants for all positions without regard to race, color, religion, national origin, age, disability, and veteran status.

Applicants requiring reasonable accommodation in the application process should notify Human Resources.

GSB participates in E-Verify.

EOE/AA/M/F/D/V