Loan Servicing Specialist

Valley National Bank; Northern (KY); Hybrid; USD 33,000 - 55,000; Full time

Job summary

Valley Bank in the United States is seeking a Loan Servicing Specialist to ensure loan transactions are serviced in compliance with regulations, policies, and internal controls. The role covers pre-closing, closing, and post-closing activities, with thorough documentation and cross-functional collaboration.

Candidates should have knowledge of commercial lending, loan documentation, and the ability to manage multiple tasks with attention to detail.

Qualifications

• Experience with loan funding, paydowns, and confirmations.
• Ability to read and interpret credit agreements.
• Understanding of commercial lending and loan servicing regulations.
• Strong attention to detail and ability to multitask.
• Excellent written and oral communication.

Responsibilities

• Process loan payments, payoffs, and fees in the core banking system.
• Review funding requests and reconcile the general ledger.
• Monitor reports and handle maintenance requests in the system.
• Interact with borrowers, attorneys, title companies and internal lending partners.
• Ensure compliance with policies and regulators.

Skills

Loan servicing knowledge

Attention to detail

Regulatory knowledge

Communication skills

Deadline-driven

Education

High school diploma or GED

College coursework in business administration

Tools

Core banking system

Job description

At Valley Bank, we believe in people's growth potential. We invest in it. We protect it. We focus it. For nearly 100 years, we've been the Bank that clients from every industry turn to for our expertise, strategies, and advice--building the kind of trust that can fuel every goal. We are the leading relationship bank built for growth--with over $60 billion in assets, 3,800 experts, and more than 200 consumer branches and commercial banking offices in communities across the US.
At Valley, we're all driven by an ambition that goes deeper than just having a job. That's why when you work for us, we make it our goal to help you focus on what drives you--working to turn your passions and strengths into assets you can use to propel your ambitions and build the professional legacy you want. Because when we say we're a relationship bank built for growth, that's not just reserved for our clients--that includes all our associates as well.
The Loan Servicing Specialist is responsible for ensuring loan transactions are serviced in compliance with regulations, applicable laws and loan policy. Responsible for pre-closing, closing and/or post-closing loan processing. This role ensures compliance with internal policies and external regulations while maintaining thorough documentation and communication with internal departments, borrowers and lending teams.

Job Description

Responsibilities include but are not limited to:

• Manage the processing of loan payments, paydowns, payoff requests or other processing of loan fees on core banking system.
• Reviewing and handling of loan funding requests as needed.
• Managing payments processed and reconciling the general ledger to process payments timely.
• Reviewing various reports produced on core banking system.
• Handling any maintenance requests and processing on core banking system.
• Requires understanding of basic to complex loan structures, legal documentation and knowledge of commercial lending products.
• Handle research requests, statement requests or other general inquiries from lending teams.
• Represents the bank with borrowers, borrower attorneys, title companies and internal lending partners.
• Monitoring/Tracking exception items for processing.

Requirements

Required Skills:

• Experienced in variety of loan servicing activities including all aspects of loan funding, borrowings, paydowns, commitments, etc.
• Loan Administration knowledge, ability to read and interpret a variety of credit agreements.
• Strong knowledge of commercial lending and loan servicing.
• Strong attention to detail, ability to handle multiple tasks simultaneously.
• Knowledge of bank regulatory requirements.
• Strong oral and written communication skills.
• Ability to prioritize daily work assignments while working in a demanding environment.
• Basic loan operational systems experience.
• Ability to trouble-shoot basic loan related functional problems/issues.
• Ability to meet deadlines defined by Bank and regulators.

Required Experience:

• High school diploma or GED equivalent. Minimum of 2 year's bank experience with knowledge of commercial loan servicing and commercial documentation.

Preferred Experience:

• Completion of college level courses in business administration and/or associates degree.

Full-time/Part-time

Full-time

FLSA

Non-exempt

Location(s).

1720

Total Rewards Summary

We provide a comprehensive and competitive total rewards package including base salary determined by factors such as the role, relevant experience, skill set, and geographical location. Eligible positions may also be eligible to receive commission-based compensation and/or discretionary incentive compensation, which may be awarded as cash or forfeitable equity, recognizing individual performance and contributions.
In addition to financial compensation, we offer a robust suite of benefits tailored to meet diverse employee needs based on eligibility criteria. These include comprehensive health care and insurance plans, retirement savings options, tuition and adoption reimbursement programs, paid time off, mental health support, and other valuable benefits programs. Further details regarding total compensation and benefits will be shared during the hiring process.

Pay Range

The estimated pay range for this job. Disclosing pay information promotes competitive and equitable pay.
The actual pay rate will depend on the person's qualifications and experience. $23.75 - $39.62 / hour

Pay Transparency

In order to support the Fair Compensation Strategy by the US Govt., HR Dept., clients are required to adhere to "Pay Transparency Law"; in the impacted states; that have mandated the employers to list the salary ranges in Job advertisements or postings for job opportunities and Job promotions.

Employee Polygraph Protection Act

Right to Work/E-Verify

Family and Medical Leave Act

Employer Privacy Policy

Valley is an equal opportunity/affirmative action employer. All qualified applicants are encouraged to apply and will be considered for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, status as a protected veteran, or any other legally protected status or characteristic.

If you are a person with a disability and need a reasonable accommodation to search or apply for a career opportunity, please call us at 800-652-6500, option 2, for assistance with an alternate method of access. A response to your accommodation request may take up to two business days. Other inquiries to this number will not receive a response.

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