Remote Consumer Loan Servicing Specialist

Quontic Bank; Philadelphia (Philadelphia County); On-site; Full time

Job description

Job Highlights

• Title: Consumer Loan Servicing Specialist
• Type: Full Time
• Experience: 2 Years
• Function: Loan Service
• Location: Philadelphia, PA, United States
• Company: WSFS Bank

Company Profile

WSFS Bank (owned by WSFS Financial Corp) provides comprehensive financial services, including commercial banking, retail banking, cash management, and trust and wealth management.

Job Profile

The bank is hiring a Consumer Loan Servicing Specialist who will be responsible for the oversight of sourced vendors who assist the Bank with Insurance and Real Estate Tax processing.

Education Level

• Not mentioned, a High School Diploma (a plus)

Work Experience

• Minimum 2 years of experience in Retail Loan Servicing
• Minimum 2 years of experience in handling escrow disbursements from loans, general ledger or bank accounts or insurance, and real estate taxes.
• Knowledge of the NFIP and regulatory requirements relating to Escrow and Flood insurance compliance.

License/Certification

• Must have a thorough and demonstrated understanding of Retail Lending Banking regulations, including but not limited to Truth in Lending (Reg. Z), National Flood Insurance Program requirements, Biggert/Waters Act, RESPA, Fair Lending, Fair Credit Reporting Act, and BSA as it relates to the Retail Lending function.

Duties/Responsibilities

• Assist Management and team members to administer the process of Insurance/Tax payments to vendors and agencies, for escrowed Loans or the purchase of forced placement of Hazard and Flood policies as required.
• Ensure that all regulatory requirements are met, as it pertains to RESPA, Flood and Hazard Insurance, including those under the National Flood Insurance Program (NFIP) and Flood Disaster Protection Act (FDPA).
• Facilitate the transfer of funding and documentation to sourced vendors to validate proper receipt of Tax information/Insurance policies sent.
• Maintain the necessary documentation for reconciliation of the general ledger or Bank accounts about all disbursements on behalf of the Bank.
• Participate in all training as required to maintain compliance under various regulatory statutes and internal policies and procedures as directed by Management and the Bank’s Compliance department.
• Participate in system release testing and validation, and will provide feedback to Management on findings as appropriate.
• Payment distribution and ensuring insurance coverage is maintained for Real Estate and other secured loans.
• Thorough review of any reports provided by sourced vendors with prompts to act, correct issues, and track findings noted.
• Work with Management, team members, and compliance where applicable in updating policies, procedures, and developing various system processing workflows that pertain to the Associates areas of responsibility among other duties assigned.

Skills/Knowledge/Abilities

• Must be self-motivated and able to work with minimal supervision.
• Must have a proven ability to develop relationships with externally sourced vendors and across the organization.
• Must have excellent customer service skills
• Must have exceptional written and oral communication skills and be able to demonstrate such both internally and externally.
• Must have proficiency in Microsoft Office products, including Word, Excel, and PowerPoint.
• Must have strong organizational and multi-tasking skills and be able to successfully work under pressure to meet strict deadlines.
• Must have the ability to work extended hours as needed.

Working Conditions

• Fast-paced, detail-oriented tasks
• Frequent communication with customers and teams
• Office or remote work environment
• Regular use of computers and phones
• Standard business hours with possible overtime

Benefits/Perks

• The bank offers an inclusive and supportive culture, competitive salaries, advancement opportunities, and more.

Employer’s Statement

WSFS is an Equal Opportunity Employer.