Loan Servicing Manager

Florence Bank; Florence (MA); On-site; USD 69,000 - 103,000; Full time

Benefits offered by this job

5 weeks PTO

12 holidays

Medical/dental/vision insurance

401K with match

Profit sharing after 2 years

Wellness program

Job summary

Florence Bank in the Main Office is seeking a Loan Servicing Manager to oversee residential mortgage and consumer loan servicing, ensuring accurate setup, payment processing, escrow administration, and regulator compliance. You will lead a team, drive efficiency, and align servicing with strategic growth.

The ideal candidate has a Bachelor’s degree in business, 5–7 years in loan servicing, strong communication skills, and deep knowledge of loan products and servicing systems.

Qualifications

• Bachelor’s degree in business or equivalent work experience.
• Minimum of 5 years in the banking industry.
• Minimum of 5-7 years of loan servicing experience.
• Strong understanding of the requirements and features of the Bank’s loan products, services and loan systems.
• Strong communication skills, both verbal and written.
• Strong PC knowledge.

Responsibilities

• Oversee residential mortgage and consumer loan servicing activities.
• Ensure accurate loan setup, payment processing, escrow administration, investor reporting, customer service, and regulatory compliance.
• Provide leadership to servicing staff and support operational efficiency and customer satisfaction.
• Manage, coach, and evaluate department staff to ensure performance and engagement.
• Ensure compliance with Bank policies and regulatory requirements.

Education

Bachelor’s degree in business

Job description

Are you looking for an employer that provides 5 weeks of PTO and benefits upon hire, focuses on advancement opportunities, and has an overall average employee tenure of a decade? With tuition reimbursement, wellness incentives, and a 401K plan with dollar-for-dollar match, Florence Bank has it all!

At Florence Bank, we offer:

• Generous paid time off
• 12 paid holidays
• Dynamic work culture
• Medical, dental, vision and life insurance upon hire
• 401K plan with dollar-for-dollar match
• Profit sharing bonus after two full calendar years of employment
• Robust wellness program with monetary incentives
• $5,000 tuition reimbursement each calendar year

We are currently seeking candidates to join our exceptional team for the following position:

Job Title: Loan Servicing Manager

Location: Main Office

Salary Range: $68,888 to $103,000

*Compensation for this position is commensurate with experience. The posted range is intended to provide a general estimate and does not guarantee a specific rate of pay.

Position Summary

Responsible for the oversight and management of all residential mortgage and consumer loan servicing activities. Ensures accurate loan set-up, payment processing, escrow administration, investor reporting, customer service, and regulatory compliance. Acts as a consultant to business areas in terms of product and loan documentation revisions and introductions of new product offerings.Provides leadership to servicing staff while supporting operational efficiency, customer satisfaction, strategic growth objectives, and adherence to Bank policies and procedures. Manages, coaches, and evaluates job performance of department staff to ensure effective performance, excellent service, and strong employee engagement.

Essential Functions

• Consistently provides superior professional service to internal and external customers.
• Consistently meet expectations of teamwork, punctuality and regular, reliable attendance.
• Effectively performs in the area of employee management and development through conducting regular staff meetings; monitoring staffing levels; demonstrating strong communication, coaching, and training of staff; conducting performance evaluations; focusing on staff development; and ensuring employee engagement.
• Ensures compliance with Bank policies, state and federal regulatory requirements and investor guidelines. Compiles data, and is key resource, for all agency examinations relative to servicing process.
• Research, test and implement new loan products, product revisions, documentation changes or software enhancements which impact the Bank’s overall loan operations.
• Participates in evaluating new equipment or software relative to Loan Servicing.
• Provide strategic direction and feedback on core system software and performance; create documentation for vendors; assist in business requirements for charges and new functionality.
• Involved in strategic planning for Loan Servicing Department and makes budget recommendations.
• Prepares management and Director reporting on volumes and principal paydowns. Creates internal reporting for Insider loans, annual Insider information reporting to the Commissioner of Banks and oversees all Investor reporting.
• Oversees management of Investor servicing and processing, remitting, reporting and reconciliation keeping within Investor requirements.
• Oversees tax process and annual escrow analysis process within regulatory requirements.
• Ensure that loan maintenance processes are followed with appropriate authorizations. Responsible for managing risk and ensuring the policies and procedures provide adequate controls. Responsible for assessing and assigning security levels; training staff and/or other personnel in loan functions.
• Is responsible for research and responding to all customer credit disputes; processes changes to credit history through credit bureaus.
• Oversees management of imaging processes.
• Serves on committees and/or task forces on a volunteer basis, or by request.
• Establish familiarity with laws and regulations applicable to the line of business.
• Establish effective policies, procedures and controls to assist in ensuring compliance with laws and regulations applicable to the line-of-business.
• Establish and maintain employee training incorporating applicable laws and regulations into the individual jobs in the business unit.
• Implement corrective action when independent reviews show that controls are not working, or employees are not performing incompliance with laws and regulations.
• Conduct periodic compliance assessments as needed to help assure on-going compliance.

Other Responsibilities

Assumes additional responsibilities, as requested.

Education, Experience, or Skills Required

• A Bachelor’s degree in business or equivalent work-related experience.
• A minimum of 5 years in the banking industry.
• A minimum of 5-7 years of loan servicing experience.
• Strong understanding of the requirements and features of the Bank’s loan products, services and loan systems.
• Strong communication skills, both verbal and written.
• Strong PC knowledge.

Physical Demands/Conditions Requirements

• General office environment.
• Frequent use of computer.
• Sits for an extended period of time.

Equipment Used

• General office equipment.

All employees handling customer accounts and transactions have a duty to report apparent suspicious activity and OFAC matches to the BSA Officer and the Security Officer.

Florence Bank is an Equal Opportunity Employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, age, pregnancy, genetic information, disability, status as a protected veteran, or any other protected category under applicable federal, state, and local laws.