Escrow Manager

Truist; Richmond (VA); On-site; USD 70,000 - 100,000; Full time

Benefits offered by this job

Medical benefits

Dental benefits

Vision benefits

Life insurance

Disability insurance

401k plan

Vacation days

Sick days

Paid holidays

Job summary

Truist Financial Corporation in Richmond, VA, seeks an experienced Escrow Manager to lead a team responsible for mortgage servicing escrow functions, tax and insurance processing, and regulatory compliance.

You will oversee vendor relationships, ensure SLA compliance, monitor performance, and drive risk mitigation and process improvements across multiple sites.

Strong leadership, MSP familiarity, and knowledge of investor guidelines are required; a bachelor’s degree is necessary.

Qualifications

• Minimum 5+ years of mortgage servicing or loan operations experience.
• Minimum 5+ years of leadership or supervisory experience.
• Strong knowledge of mortgage servicing systems (MSP) and investor guidelines (Fannie Mae, Freddie Mac, FHA, VA).
• Ability to interpret legal, financial, and investor documentation.
• Advanced understanding of regulatory and compliance requirements (CFPB, federal and state laws).
• Strong knowledge of mortgage servicing and regulatory requirements (including Rex X and NFIP).

Responsibilities

• Lead, coach, and develop a team of Escrow specialists overseeing complex service functions.
• Property Tax Operations and vendor Management
• Property Insurance Operations and vendor Management
• Escrow Analysis processing
• Monitor and analyze performance trends, including turn times, backlog, and completion rates
• Drive accountability across the team by setting clear expectations and monitoring follow-through and ownership
• Oversee large financial transactions
• Ensure full compliance with servicing SLAs and regulatory requirements

Skills

Mortgage servicing

Leadership

Regulatory knowledge

MSP familiarity

Investor guidelines

Education

Bachelor's degree

Tools

MSP system

Job description

Need Help?

If you have a disability and need assistance with the application, you can request a reasonable accommodation. Send an email to Accessibility (accommodation requests only; other inquiries won't receive a response).

Regular or Temporary

Regular

Language Fluency

English (Required)

Work Shift

1st shift (United States of America)

Responsible for providing leadership, oversight, and strategic direction for the Escrow team, ensuring effective management of specialized servicing activities, regulatory compliance, and operational risk mitigation and serves as a key liaison across departments to support seamless execution of Escrow processes.

The Manager of Escrow is responsible for leading a team that manages complex, high-risk mortgage servicing activities within a highly regulated environment. This role oversees end-to-end operations for escrow functions of Tax, Insurance or Escrow Analysis production and compliance. The role also overseas large complex vendor relationships including payment of clients escrowed items for taxes and insurance and monitoring of properties requiring flood insurance as well as investor-driven transactions.

Must be eligible to manage or perform loan origination or servicing functions under Mortgage Investor or government agency guideline requirements

Essential Duties And Responsibilities

Following is a summary of the essential functions for this job. Other duties may be performed, both major and minor, which are not mentioned below. Specific activities may change from time to time.

Following is a summary of the essential functions for this job. Other duties may be performed, both major and minor, which are not mentioned below. Specific activities may change from time to time.

• Lead, coach, and develop a team of Escrow specialists overseeing complex service functions.
• Property Tax Operations and vendor Management
• Property Insurance Operations and vendor Management
• Optional Insurance
• Flood zone property tracking
• Escrow Analysis processing
• Interest on Escrow
• Provide ongoing coaching and feedback to provide accuracy, accountability, and efficiency.
• Address performance gaps and reinforce expectations aligned with compliance and operational goals
• Lead efforts to build a forward-thinking team environment, where employees anticipate risks, understand downstream impacts, and make informed, compliant decisions
• Direct and manage day-to-day operations to ensure work is completed accurately, timely, and in alignment with established service level expectations.
• Establish clear priorities and ensure effective workload distribution to support productivity, efficiency, and balanced capacity across the team.
• Monitor and analyze performance trends, including turn times, backlog, and completion rates, to proactively address gaps and ensure consistent execution.
• Reinforce strong time management practices, ensuring team members are effectively prioritizing tasks and meeting deadlines in a high-volume environment.
• Drive accountability across the team by setting clear expectations and consistently monitoring follow-through and ownership of assigned responsibilities including teams at multiple sites, off-shore and vendor teammates.
• Identify opportunities to improve workflow efficiency, reduce rework, and streamline processes while maintaining compliance standards Monitor performance metrics, productivity, and quality results to ensure adherence to standards.
• Ensure full compliance with all servicing SLAs, regulatory requirements, investor guidelines and internal policies governing escrow operations.
• Lead business unit through audit engagements by collaborating with internal partners to demonstrate process expertise, effectiveness and risk mitigation.
• Oversee large financial transactions.

Qualifications

Required Qualifications

• Minimum 5+ years of mortgage servicing or loan operations experience, bachelor’s degree
• Minimum 5+ years of leadership or supervisory experience
• Strong knowledge of:
• Mortgage servicing systems (e.g., MSP), Investor guidelines (Fannie Mae, Freddie Mac, FHA, VA)
• Ability to interpret legal, financial, and investor documentation.
• Advanced understanding of regulatory and compliance requirements (CFPB, Federal and State laws)
• Strong knowledge of mortgage servicing and regulatory requirements (including Rex X and NFIP)

Preferred Qualifications

• Provide leadership, guidance, and performance management, ensuring alignment with organizational goals and service standards
• Proven leadership and team management experience
• Excellent cross-functional collaboration and communication skills
• Experience in risk management, compliance oversight, and audit support
• Strong analytical and problem-solving abilities

The annual base salary for this position is $70,000 - $100,000.00

General Description of Available Benefits for Eligible Employees of Truist Financial Corporation

All regular teammates (not temporary or contingent workers) working 20 hours or more per week are eligible for benefits, though eligibility for specific benefits may be determined by the division of Truist offering the position. Truist offers medical, dental, vision, life insurance, disability, accidental death and dismemberment, tax-preferred savings accounts, and a 401k plan to teammates. Teammates also receive no less than 10 days of vacation (prorated based on date of hire and by full-time or part-time status) during their first year of employment, along with 10 sick days (also prorated), and paid holidays. For more details on Truist’s generous benefit plans, please visit our Benefits site. Depending on the position and division, this job may also be eligible for Truist’s defined benefit pension plan, restricted stock units, and/or a deferred compensation plan. As you advance through the hiring process, you will also learn more about the specific benefits available for any non-temporary position for which you apply, based on full-time or part-time status, position, and division of work.

Truist is an Equal Opportunity Employer that does not discriminate on the basis of race, gender, color, religion, citizenship or national origin, age, sexual orientation, gender identity, disability, veteran status, or other classification protected by law. Truist is a Drug Free Workplace.

EEO is the Law E-Verify IER Right to Work