Loan Servicing Specialist III

River Run; Newburyport, Northern (MA, KY); Hybrid; USD 70,000 - 95,000; Full time

Job summary

River Run Services, LLC is seeking a Loan Servicing Specialist III to ensure accurate setup, maintenance, and servicing of commercial loans throughout the lifecycle. You will support complex servicing functions, prepare remittances and reports, and monitor accounts for accuracy and regulatory compliance.

The role emphasizes collaboration with lending teams, adherence to BSA and bank policies, and ongoing training to stay current with products and procedures.

Qualifications

• High school diploma required.
• Minimum 5 years of experience in a professional office environment within a commercial lending-related function.
• Strong knowledge of word processing, spreadsheets, and other office applications.
• Excellent customer service, attention to detail, and ability to work both independently and in a team.

Responsibilities

• Board commercial loans in accordance with loan documents; track receipts and complete related maintenance and transactions.
• Process commercial payoff quotes, payoffs, and lien releases; respond to customer requests via ticketing system.
• Prepare daily and monthly participation remittances and reporting for the Secondary Market.
• Monitor internal accounts and resolve out-of-balance items; perform monthly GL reconciliations.
• Collaborate with Commercial Lending Assistants, Portfolio Managers, and Commercial Lenders to resolve complex loan scenarios.
• Lead assigned special projects and identify opportunities to improve departmental processes.
• Assist management with research and response to audit findings.
• Review work and provide guidance to junior team members to ensure accuracy and compliance.

Skills

Customer service

Attention to detail

Teamwork

Independent work

Education

High school diploma

Tools

MS Office

Word processing

Spreadsheets

Job description

Description

River Run is a shared services organization that supports banking affiliates, Newburyport Bank, Pentucket Bank and Rollstone Bank & Trust.

The Loan Servicing Specialist III ensures the accurate setup, maintenance, and servicing of commercial loans throughout the loan lifecycle, while also supporting more advanced and specialized servicing functions. Processes complex transactions, prepares participation remittances and reports, and monitors internal accounts to ensure accuracy, compliance, and timely resolution of discrepancies and to uphold the integrity of loan and financial records.

Essential Job Functions

• Board commercial loans in accordance with loan documents; track receipt of original notes and/or titles, and complete related loan maintenance and transactions.
• Process commercial payoff quotes, payoffs, and lien releases, and respond to customer requests through the ticketing system or other channels in a timely manner.
• Prepare daily and monthly participation remittances and reporting for the Secondary Market.
• Monitor internal accounts and resolve out-of-balance items; prepare monthly General Ledger reconciliations.
• Collaborate with Commercial Lending Assistants, Portfolio Managers, and Commercial Lenders to research and resolve complex commercial loan scenarios.
• Lead assigned special projects and identify opportunities to improve departmental processes and procedures.
• Assist Management with researching and responding to internal and external audit findings.
• Review work and provide guidance to junior team members to promote accuracy, consistency, and adherence to established procedures.
• Maintain current knowledge of Bank products, services, procedures, policies, and applicable regulatory and compliance requirements through training and team meetings; apply this knowledge to daily operations.
• Ensure compliance with federal and state laws, regulations, Bank policies, and the Bank Secrecy Act (BSA), as applicable, by verifying transactions and account balances, preventing violations, minimizing risk, and safeguarding the Bank’s interests.

Requirements

Qualifications, Experience, and Education

• High school diploma.
• Minimum of 5 years of experience in a professional office environment within a commercial lending-related function.
• Strong knowledge of word processing, spreadsheet, and other office applications.
• Excellent customer service skills, attention to detail, and ability to work successfully both independently and as a member of a team.

River Run Services, LLC is an Equal Opportunity Employer and all qualified applicants will receive consideration for employment without regard to race, color, ancestry, national origin, gender, sexual orientation, marital status, religion, age, disability, gender identity, results of genetic testing or service in the military.

If you are an individual with a disability and require a reasonable accommodation to complete the application process, you may contact Human Resources at [e-mail] or call 978-462-3136.

The salary range represents an estimate based on market data for this position. Final compensation decisions are made based on experience, skills, and internal equity to ensure fairness and consistency across our organization.