Loan Servicing Representative III (Commercial) - Woodbridge, NJ

Key Responsibilities

• Affords assistance with managing various commercial loan servicing activities, including but not limited to application of funds, payment of real estate taxes and customer inquiries.
• Evaluates and resolves high priority or complex issues through communication and negotiation with customers.
• Sets up all borrower and financial information for entire portfolio of new loan closings on the appropriate Horizon and ACBS systems.
• Reads and interprets loan documents and approvals for verification of system accuracy.
• Tracks all future interest rate adjustments and verifies accuracy of system-generated letters for compliance with loan documents.
• Alerts management of any upcoming changes where may need special attention.
• Processes all loan modifications, including extensions of maturity, interest rate adjustments, borrower transfers, etc on entire portfolio.
• Inputs and verifies that all modified data has been approved by Credit Committee and/or designated loan officer.
• Administers real estate tax escrow disbursement report for prevention of negative escrow transactions for all loans.
• Directly contacts local municipalities as needed for clarification of amounts due and resolving any discrepancies regarding borrower real estate tax payments made by The Provident Bank.
• Responds to all borrower inquiries for reconciliation of escrow transactions.
• Re-analyzes escrow accounts where deficiencies are noted.
• Handles entire monthly billing process, which includes assuring that all commercial account bills are generated and mailed to customers.
• Adheres to finest quality control standards.
• Contacts borrowers on returned mail items for address verification.
• Processes all monetary transactions including, monthly payments, fees, payoffs, construction and commercial line/loan advances and pay-downs and performs any corrections and adjustments as warranted.
• Trains new staff on Bank’s policies and procedures needed to perform their respective job function.
• Performs other duties as assigned by management.

Minimum Qualifications

• 5 - 7 years of related experience
• High school diploma or GED
• Ability to interpret all loan documentation
• Working knowledge of Horizon System, ACBS System, PC skills
• Ability to create Excel Spread Sheet and utilize formulas for creating bills and various reports
• Take ownership of workflow and resolve problems with minimal to no supervision
• Ability to multi-tasking is imperative
• Excellent communication and organizational skills
• Strong mathematical background required