Sr. Commercial Loan Servicing Specialist

Division: Bank Operations • Department: Commercial Loan Servicing • Location: Boston, MA • Status: Non-Exempt • Grade: 8

Purpose/Objective

Performs a wide variety of tasks related to loan servicing and quality control as related to commercial loans according to established policies, procedures and regulatory guidelines, ensuring overall quality and integrity of the Bank’s commercial loan portfolios. Assists junior staff with complex questions related to department processes and functions.

Responsibilities

• Reviews daily reports to ensure accurate customer billing, rate review, payment changes, transfers, and performs maintenance necessary for corrections.
• Assists in ongoing processing of exception handling by pulling and working entries from tracking reports.
• Performs quality control for new loans and maintenance on loan modifications.
• Monitors the integrity of data entered into core systems.
• Ensures accurate processing of payments, loan advances, and transaction reversals to maintain accuracy in the loan core system.
• Processes all non-accrual and charge-off entries for the Commercial Loan Department, as well as all OREO transfers.
• Audits the monthly Federal Reserve Bank of Boston (“FRBB”) Borrower in Custody pledged loan report and works with the Commercial Loan Servicing Record Custodian to segregate and track loan files pledged.
• Reconciles general ledger balances to ensure system accuracy.
• Provides confidential information to the Legal Department in response to subpoenas.
• Monitors SharePoint Queues for requests and processes them accordingly.
• Handles all aspects of SWAP loans related to the payment process.
• Processes requests from the Workout Department related to SBA repurchases.
• Assists in testing new system releases and products to ensure continuity.
• Participates in system-to-system mapping for acquisitions and core system conversions.
• Troubleshoots and serves as an information resource regarding loan system input.
• Maintains job function procedures.
• Demonstrates excellent customer service skills, handling customer issues while adhering to customer service principles.
• Identifies and refers complex issues to appropriate areas.
• Performs additional duties, departmental cross-training, and participates in special projects as required.
• Ensures compliance with all banking laws, rules, regulations, and prescribed policies/procedures to reduce risk and uphold ethical standards.

Requirements

• High school diploma (some college or an Associate’s degree preferred).
• 5 years of related work experience.
• Knowledge of commercial loan documentation and collateral.
• Commercial loan systems experience preferred.

Skills & Knowledge

• Problem resolution capability.
• Strong analytical skills.
• Ability to read and interpret loan documents.
• Excellent verbal and written communication skills.
• Proficient in Microsoft Office (Excel, Word) and other report-writing software.
• Excellent organizational skills with the ability to multitask.
• Detail-oriented with a high degree of accuracy.
• Basic accounting knowledge.

Pay

Pay Range: $21.55 - $36.63 per hour. Actual compensation within the range will be determined based on factors including skills, prior relevant experience, and specific work location.