Sr. Loan Servicing Specialist (Mortgage/Consumer Loan Servicing)

Salem Five Bank; Salem (MA); On-site; USD 60,000 - 75,000; Full time

Benefits offered by this job

Health benefits

401(k) matching

Tuition reimbursement

Employee referral program

Company events

Job summary

Salem Five Bank in Salem, MA is seeking a detail-oriented Loan Operations professional to assist with residential and consumer servicing, ensuring accurate processing, state change notices, and payoff activities.

You will help manage inquiries, maintain loan records, and support compliance with federal regulations, audits, and procedures. The role emphasizes process improvements and teamwork in a supportive office environment.

Qualifications

• AA degree or equivalent from two-year college or technical school.
• Minimum of three years in a client-focused business environment.
• Experience with Microsoft Excel and Word.
• Prior clerical/administrative support experience a strong plus.

Responsibilities

• Assist with all customer inquiries via ticketing system, contact center and branches.
• Execute residential and consumer servicing functions including loan processing and statements.
• Ensure compliance with CFPB, Dodd-Frank, Reg Z, RESPA, GLBA and department policies.
• Supervise loan servicing staff and monitor workflow and accuracy.
• Maintain data integrity and assist with audits and annual continuity planning.
• Support procedures for loan servicing tasks and control environment.

Skills

Customer service

Attention to detail

Regulatory knowledge

Education

Associate's degree (AA) or equivalent

Tools

Microsoft Excel

Microsoft Word

Job description

Salem Five is a growing regional financial services organization with a rich history of over 170 years. As an independent bank, we are deeply rooted in the communities we serve and offer our employees successful and rewarding careers.

This position requires the ability to work in the Salem, MA offices.

ESSENTIAL DUTIES AND RESPONSIBILITIES

• Responsible for assisting with all customer inquiries and requests through all means including the internal ticketing system, contact center and retail branches to ensure prompt response and follow through; responsible for research and customer contact.
• Responsible for execution of all residential and consumer servicing functions, including: quality control of new installment loans and residential mortgage loans; processing payments and advances; issuing accurate statements and notices including rate change notifications; maintaining and adjusting interest rates as required; responding to customer inquiries and requests; assisting with escalated customer issues and working with the complaint/legal department toward dispute resolution; maintenance to customer, account, or transactional records; maintenance to official loan files; assisting with notice of error and requests for information; processing of mortgage loan payoffs; assisting with requests for partial release, trust transfer, easements, partial taking by eminent domain, subordinations, or assent to amend master deed according to secondary market guidelines; assisting with loan modifications; assisting with insurance loss draft program for hazard / flood insurance; first level accounting reconcilement; assisting management with audit responsibilities.
• Ensure department is in compliance with all regulatory requirements including CFPB, Dodd Frank, Reg Z, RESPA, GLBA, Investor guidelines and department policies and procedures.
• Monitor work of designated personnel (consumer/residential) personnel in Loan Operations. Ensure that work is completed in a timely manner. Serve as backup to staff on vacation, during vacancies, illness, etc.
• Monitor JIRA Help Desk to ensure tickets are completed accurately and within the expected time frame.
• Audit the performance of system maintenance on accounts to ensure data integrity.
• Assist and participate with annual Business Continuity Plan.
• Assist Management with ensuring appropriate procedures for all residential and consumer servicing functions in compliance with all applicable regulations and laws. Responsible for analyzing existing process to identify areas for operational efficiency using technology and automation. .
• Assist with implementation of strong control environment and disciplines, including: the development and maintenance of written operating procedures for all daily, monthly, quarterly, and yearly loan servicing tasks. Define and implement controls to ensure: duties executed accurately and as scheduled, data quality on systems of record, and compliance with bank policy and laws and regs.
• Closely supervise servicing of consumer loans (overdraft, HELOC, student loans) to ensure documentation and system set-up are accurate and meet compliance requirements.
• Oversee processing of payoff desk and discharges to ensure timelines are met and accuracy is maintained.

Education And/or Experience

Associate's degree (AA) or equivalent from two-year college or technical school; minimum of Three years in a client focused, business environment; or equivalent combination of education and experience. Demonstrated capability and familiarity with Microsoft products utilizing Excel and Word, Prior clerical/administrative support experience a strong plus.

Benefits/Incentives

We offer a comprehensive benefits package designed to support your well‑being and success, including medical, dental, and vision coverage; Flexible Spending and Health Savings Accounts; 401(k) matching; and tuition reimbursement. You will also enjoy additional perks such as our employee referral program, annual holiday reception, summer family outing, and more.

Salary Range

$60,000 - $75,000

The pay range is the lowest to highest compensation we reasonably in good faith believe we would pay at posting for this role. We may ultimately pay more or less than this range. Employee pay is based on factors like relevant education, qualifications, certifications, experience, skills, seniority, location, and performance. This range may be modified in the future.

PHYSICAL DEMANDS

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 essential functions. While performing the duties of this job, the employee is regularly required to talk or hear. The employee frequently is required to stand; walk; sit; use hands to finger, handle, or feel; and reach with hands and arms. The employee is occasionally required to climb or balance; stoop, kneel, crouch, or crawl; and taste or smell. The employee must occasionally lift and/or move up to 10 pounds. Specific vision abilities required by this job include close vision.

No unsolicited resumes accepted from agencies.