Commercial Loan Servicing Specialist

Cambridge Savings Bank; Waltham (MA); Hybrid; USD 37,801 - 53,368; Full time

Benefits offered by this job

Healthcare

Parental planning

Mental health benefits

Performance bonus opportunities

401(k) plan and match

Flexible time off

Job summary

Cambridge Savings Bank is seeking a Commercial Loan Servicing Specialist to support the Commercial Lending teams, including Commercial Real Estate, Commercial and Industrial, Asset Based Lending, and Small Business. This role boards new loans, maintains existing loans, and delivers exceptional service to colleagues and customers.

Hybrid role in Waltham, MA focusing on accurate loan data processing, reporting, and coordination with loan administration.

Qualifications

• Bachelor's degree preferred in accounting, finance or business management.
• 2–4 years banking experience preferred, teller experience a plus.
• Strong organizational, communication, and computer skills.

Responsibilities

• Board and maintain all Commercial/Industrial, CRE, ABL, and small business loans in the core system.
• Process monthly SWAP payments and ensure remittances align with schedules.
• Prepare and distribute reports (New Loan Production, Past Due, Maturity, Note Listing).
• Coordinate with Commercial Loan Administration to reflect loans accurately.
• Reconcile general ledger accounts and research discrepancies.
• Prepare payoff docs including mortgage discharges and releases.
• Monitor exception reports and address unapplied transactions and auto-pay rejections.
• Assist in managing the participation portfolio and respond to partner bank inquiries.

Skills

Organizational skills

Attention to detail

Written & verbal communication

Customer service

Education

Bachelor's Degree in accounting, finance, or business management

Tools

Microsoft Office

Job description

POSITION: Commercial Loan Servicing Specialist

Position Summary:

At Cambridge Savings Bank, our purpose is to have a positive impact on our customers, employees, and community's financial well-being. We are committed to exceeding expectations and having a strong commitment to diversity. Provides operational and servicing support to the Commercial Lending areas of the Bank, including Commercial Real Estate, Commercial and Industrial, Asset Based Lending, and Small Business. This includes review of existing information in core platform (Fiserv/DNA), boarding new loans and maintaining existing loans. Provides exceptional customer service to both internal colleagues and external customers.

Key Result Areas:

• Responsible for timely and accurate boarding and maintenance of all new and existing Commercial and Industrial, Commercial Real Estate, Asset Based Lending, and Small Business loans in the Bank's core, while adhering to Bank policy and the terms and conditions set forth in the Loan Approval. This includes modifications, renewals, extensions, increases, participation loans, SWAP loans, Letters of Credit, and Bonds.
• Performs accurate processing of monthly SWAP payments. Ensures all SWAP remittances are compared to the amortization schedule, and that wires are sent to the appropriate counterparty.
• Prepare and distribute various reports to colleagues and management, including the New Loan Production Report, Past Due Report, Maturity Report, and Note Listing.
• Work closely with the Commercial Loan Administration team and Commercial Loan Officer to ensure loans are reflected accurately on the core.
• Reconcile and prepare various general ledger accounts and perform research when necessary.
• Prepare and circulate payoff documentation, including collateral release forms, Mortgage Discharges, and Partial Releases.
• Monitor and work daily exception reports, such as unapplied transactions, autopayment rejects, and tickler reports.
• Assist in the management of the Bank's participation portfolio, including funding, tracking of payments received, sending remittances, and responding to questions of partner banks.
• Perform additional duties as required

Qualifications:

• Bachelor's Degree in accounting, finance, or business management preferred
• Two to four years of banking experience preferred, teller experience a plus
• Strong organizational and computer skills, including Microsoft Office
• Exceptional attention to detail, with the ability to meet critical deadlines with limited supervision in a fast-paced environment
• Exceptional oral and written communication skills, utilized to strengthen customer and business partner relationships

The above description covers the most significant major responsibilities but does not exclude other occasional responsibilities and accountabilities, the inclusion of which would be in conformity with the major purpose of this job.

Location:

Hybrid/Waltham, MA

Salary Range:

$27.44 - $38.74/hr

The reasonably estimated salary for this role at Cambridge Savings Bank ranges from $27.44 - $38.74/hr. Cambridge Saving Bank will determine actual compensation for the role based on factors including, but not limited to, the successful candidate's skills, qualifications, and experience. In addition, Cambridge Savings Bank offers a wide range of comprehensive and inclusive employee benefits for full-time roles including healthcare, parental planning, mental health benefits, performance bonus opportunities, a 401(k) plan and match, flexible time off, and others.

About Cambridge Savings Bank:

Cambridge Savings Bank is a full-service banking institution with over $7 billion in assets. As a mutual bank, CSB is committed to improving the quality of life of our employees, customers, and the communities we serve. One of the oldest and largest community banks in Massachusetts, Cambridge Savings Bank offers a full line of individual and business banking services across a robust Massachusetts-based branch network and through digital banking solutions for commercial, small business and consumer customers. In March 2026, Kroll Bond Rating Agency affirmed CSB's investment-grade rating, reinforcing the bank's position as a reliable business leader. To learn more about how we can meet your needs, visit us at cambridgesavings.com, or better yet, come meet us to help you make the most out of your banking relationship. Member FDIC. Equal Housing Lender. NMLS # 543370.

Cambridge Savings Bank is an equal opportunity employer, and all qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, disability status, protected veteran status, or any other characteristic protected by law. We are a VEVRAA Federal Contractor.