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Commercial Loan Servicing Specialist – Firestone Financial Division of Berkshire Bank
Responsibilities:
Loan boarding for all Firestone loan types. Reviews system data to ensure accurate information for entire portfolio, Review various reports to mitigate risk in loan boarding and maintenance. Performs quality control on all new loan and modification booking to core. Handles billing and account problems as they relate to the computer system and the commercial loans, as well as on going collateral documentation. Serves as an information resource regarding loan system input. Participates in loan servicing shared services model for all loan maintenance requests.
Key Accountabilities:
- Participates in loan servicing shared services model for ticket system and performs maintenance as requested. Supports asset management and customer services in managing customer accounts and ensuring accuracy of data and transactions processed. Calculates extensions as requested. Ensures a timely turn- around of requests and strives to meet Service Level standards a defined by the organization. 30%
- Reviews daily reports (including cross check errors report and other assorted exception reports) to ensure accurate customer billing, rate review, payment changes, transfers and performs any maintenance for corrections. Performs quality control of new loans and modification maintenance. Ensures accurate system processing of payment data, progress loan payment and advance data, and other payments or reversals to maintain quality of commercial loan system. Supports cash entry process when account modification is required. 25%
- Enters manual loans or completed entry of loans originated in the system. Processes special ACH transmissions and ACH holds for customers. Enters electronic payments for vendors. Process month end adjustments of accrual status, risk rating, inventory, and write offs in the system. 20%
- Provides quality control review efforts and makes corrections in the system as required. Monitors and clears loan control on a back-up basis. Performs other duties as required to support departmental operations. May include cash entry, creation of direct checks, reviewing cash application, and issuing vendor checks. 15%
- Troubleshoots routine commercial system problems; provides problem resolution and documentation. Develops, implements, and maintains systems procedures. Serves as an information resource regarding system input. Tests new system releases to ensure continuity. 10%
- Ensures compliance with all banking laws, rules, regulations, and prescribed policies/practices/procedures necessary to reduce risk and uphold ethical standards related to and required by one’s duties.
Education:
- Bachelor’s degree or higher
Experience:
- 5-7 years’ related work experience
Skills & Knowledge:
- Problem resolution capability
- Strong knowledge of loan boarding and maintenance in core bank system,
Commercial loan systems experience preferred:
- Demonstrated understanding of accounting practices and procedures, as well as general business principles and practices. Understands the business implications of decisions.
- Strong analytical skills including loan amortization and custom payment schedules
- Ability to read and interpret loan documents
- Excellent verbal/written communication skills
- Proficient in Microsoft Office (Excel, Word); Working knowledge of industry-standard software applications, including accounting, spreadsheet, and database packages
- Excellent organizational skills with the ability to multi task and prioritize; strong time management skills
- Detail oriented; high degree of accuracy and quality of data
- Good team player who can also work well independently with minimal supervision
- Customer focused; dedicated to maintaining confidentiality
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