Paid Loan Processor 1

Benefit Plans Administrative Services, Inc.; City of Olean (NY); On-site; USD 25,000 - 34,000; Full time

Benefits offered by this job

Medical, Vision & Dental insurance

401K with generous match

Pension

Tuition Reimbursement

Banking discounts

11 paid holidays

Paid vacation

Job summary

Community Financial System, Inc. (CFSI) is seeking a Loan Payoff Specialist within the Loan Operations Department to coordinate all payoff activities.

You will prepare payoff letters, process payoff transactions, and ensure accurate lien releases and discharges while maintaining compliance and customer service standards. The role requires attention to detail, Excel proficiency, and knowledge of loan documents, with opportunities for professional development and advancement within a diverse

Qualifications

• High School Diploma or GED required.
• Associates Degree in business-related field preferred.
• All applicants must be 18 years of age or older.

Responsibilities

• Prepare and distribute payoff letters to attorneys, branches and other institutions with principal, interest, escrow and fees.
• Process payoff transactions and maintenance forms to close the loan.
• Issue overpayment checks as needed.
• Verify closed status of loans and clear payoff funds before release of collateral.
• Release liens and prepare substitute lien releases when collateral is not security for other loans.
• Prepare discharges on paid loan files after researching the file.

Skills

Attention to detail

Organizational skills

Time management

Written and verbal communication

Excel

Knowledge of titles and liens

Teamwork

Customer service

Education

High School Diploma or GED

Associates Degree in business-related field

Job description

Overview

At Community Financial System, Inc. (CFSI), we are dedicated to providing our customers with friendly, personalized, high-quality financial services and products. Our retail division, Community Bank, N.A., operates more than 200 customer facilities across Upstate New York, Northeastern Pennsylvania, Vermont and Western Massachusetts. Beyond retail banking, we also offer commercial banking, wealth management, investment management, insurance and risk management, and benefit plan administration.

Just as our employees are committed to helping our customers manage their finances, we’re committed to our employees. After all, they make it happen for our customers every day.

To ensure our people can enjoy long and successful careers here at CFSI, we offer competitive compensation, great benefits, and professional development and advancement opportunities. As an equal-opportunity workplace and affirmative-action employer, we celebrate and support a diverse workplace for the benefit of all: our employees, customers and communities.

Responsibilities

As an integral member of the Loan Operations Department, this position is mainly responsible for coordinating all activities related to loan payoffs.

Essential Responsibilities:

• Accurately prepare and distribute payoff letters to attorneys, branches and other financial institutions to include all applicable principal, interest, escrow, and fees owed or due customer
• Process payoff transactions and maintenance forms, as applicable, in order to close the loan
• Issue overpayment checks as needed
• Verify the closed status of loans on daily report. Ensure proper clearing of payoff funds before release of collateral/documents
• Release liens and prepare substitute lien releases after ensuring collateral is not held as security on any other loan
• After thorough research of loan file, prepare discharges on paid loan files to include all applicable liens, assignments, clauses, etc.
• Respond to calls from dealerships, attorneys, mortgage processing department, branches and lenders for discharges and lien releases
• Research discharge requests on loans previously paid off or paid in full prior to a bank acquisition or conversion
• Prepare paid files for destruction or retention, as applicable
• Terminate electronic lien filings through third parties, as appropriate
• Daily contact with customers, attorneys and bank officers by phone, letters, group email and/or research requests
• Cooperate with employees within the loan operations department and other departments to provide quality service, solve problems, and achieve goals across the bank
• Maintain proficient knowledge of, and demonstrate ongoing compliance with all laws and regulations applicable to this position, ensure ongoing adherence to pertinent policies, procedures, and internal controls, and meet all requirements in a timely manner

Ancillary Duties:

• Cooperate with employees within the department and other departments to provide quality service, solve problems and achieve goals across the bank
• Perform other related duties as assigned

Qualifications

Education, Training and Requirements:

• High School Diploma or GED required
• Associates Degree in business related field or equivalent work experience preferred
• All applicants must be 18 years of age or older

Skills:

• Strong attention to detail as well as proven organizational and analytical skills
• Highly organized, with the ability to multi-task
• Ability to prioritize and work effectively under time constraints
• Above average written and verbal communication skills
• Must have intermediate to strong PC skills including ability to create and work with data in Excel
• Knowledge of titles and liens
• Must be able to consistently demonstrate the Company’s core values: integrity, excellence, teamwork, and humility

Experience:

• Preference will be given to a candidate with at least one (1) year experience in banking and knowledge of lending products and services; as well as working knowledge of the required documentation for Consumer and/or Residential or Business/Commercial loan types

Other Job Information

Hours: 40 hours/week

Compensation: Commensurate with experience plus potential for annual merit increase. In addition to your competitive salary, you will be rewarded benefits including: 11 paid holidays, paid vacation, Medical, Vision & Dental insurance, 401K with generous match, Pension, Tuition Reimbursement, Banking discounts and the list goes on!

Physical Requirements:

The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. While performing the duties of this job, the employee may be required to stand, walk or sit. Use hands and fingers, handle or feel, reach with hands or arms, and speak and hear. The employee may occasionally be required to lift and or move up to 25 pounds. Specific vision abilities required by this job include close vision, and the ability to focus.

The Company is an affirmative Action, Equal Opportunity Employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex (including pregnancy, sexual orientation and gender identity), national origin, citizenship status, age, disability, genetic information, veteran status, or any other characteristic protected by applicable federal, state or local law.

The Company will make reasonable accommodations for qualified individuals with a disability. If you have a physical or mental impairment and would like to request an accommodation with respect to the application process, please contact the Human Resources Department.

Minimum

USD $18.25/Hr.

Maximum

USD $24.71/Hr.