Sr Loan Servicing Associate-Quality Control

Northeast Bank; Boston (MA); Hybrid; USD 60,000 - 80,000; Full time

Benefits offered by this job

Competitive compensation

Generous PTO

Hybrid work environment

Job summary

A community banking institution in Boston is seeking a Loan Servicing Quality Control Specialist to maintain the accuracy of loan servicing processes. The ideal candidate will conduct reviews, ensure compliance with regulations, and collaborate with management to resolve discrepancies. Skills in loan documentation and a strong attention to detail are essential. This role offers competitive compensation, generous PTO, and a hybrid work environment.

Qualifications

• Strong understanding of loan servicing processes.
• Ability to identify errors or discrepancies.
• Knowledge of regulatory compliance requirements is a plus.
• 7 years of banking experience preferred.

Responsibilities

• Conduct thorough reviews of loan files for accuracy and completeness.
• Ensure modifications are processed correctly.
• Analyze errors to identify systematic issues.
• Develop solutions with management to prevent errors.

Skills

Previous experience in loan servicing or quality control

Attention to detail

Organizational skills

Communication skills

Job description

Northeast Bank is a full-service community bank and a national commercial real estate lender with offices in Maine, Massachusetts, New York, and California. We are looking for motivated and talented individuals who want to make an impact in a growing company that cares about its employees, customers, and the communities it serves. Northeast Bank provides competitive compensation and benefits, generous PTO, and a hybrid work environment dependent on the role. If you are looking for a growing organization that prioritizes its employees, we encourage you to apply.

POSITION SUMMARY

The role of the Loan Servicing Quality Control Specialist is vital to maintaining the accuracy and integrity of our loan servicing processes. This position is responsible for conducting thorough reviews of loan files, servicing modifications, and quality control measures within our organization. The individual in this role will collaborate closely with team members and management to identify and address any errors or discrepancies, ensuring compliance with regulatory requirements and operational standards.

RESPONSIBILITIES

• Perform comprehensive reviews of new loans boarded and file maintenance processes to verify accuracy and completeness.
• Ensure that all modifications and updates are correctly processed in the system with appropriate approval and documentation.
• Analyze errors and discrepancies to identify any systematic issues or trends.
• Work with management to develop and implement solutions to prevent errors from recurring.
• Serve as a backup for boarding new loans and file maintenance processes as needed.
• Assist in reviewing ACH setups and act as a backup for setting up ACH requests when necessary.
• Maintain accurate records and documentation of quality control measures and findings.
• Ensure that all changes made to loan files and servicing processes are properly documented and compliant with regulatory requirements.
• Provide support in managing audit follow-ups, including collecting various audit requested documents, and take the lead in developing strategies and processes to address any identified audit findings.
• Maintain courteous and professional interactions with all staff members.
• Acquire proficiency in other functions within the Loan Servicing department to offer additional assistance as needed.
• Perform any other duties within the same physical and mental scope as required.
• Successfully pass technical and regulatory examinations required by the Company.

KNOWLEDGE, SKILLS AND ABILITIES

• Previous experience in loan servicing, quality control, or a similar role within the financial industry.
• Strong understanding of loan servicing processes and documentation requirements.
• Excellent attention to detail and ability to identify errors or discrepancies.
• Knowledge of regulatory compliance requirements related to loan servicing is a plus. Ability to maintain confidentiality.
• Excellent organizational skills and the ability to effectively communicate with all levels of employees.
• Ability to deal with multiple tasks by organizing and setting priorities.
• 7 years of banking experience preferred.

PHYSICAL DEMANDS AND CONDITIONS

• Must be able to remain in a stationary position for long periods of time.
• Must be able to occasionally lift up to 25lbs.
• Ability to reach, bend, and squat at files.
• Ability to tolerate high stress environments.
• Consistently operates a computer and other office machinery such as calculator, copy machine and printers.
• Climate controlled general office setting with moderate noise level.
• Must express or exchange ideas and meaning with co-workers, supervisors, customers and vendors.

Northeast Bank is an equal employment opportunity and affirmative action employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity and expression, national original, veteran status and any other classification protected by Law. We celebrate diversity and are committed to creating an inclusive environment for all employees.