Commercial Loan Servicing Specialist, Marlboro, Full-Time, Hybrid

Schedule

Monday-Friday 8-5 (40 hours) Hybrid 5 days/month in-office

What You'll Do

Summary/Objective:

Primary responsibility to support Commercial Lending through processing commercial loans, interfacing with members, supporting loan officers and providing customer service to internal and external customers.

There are three sub-functions that the Commercial Loan Servicing Specialist (CLSS) may be assigned:

1. Loan Operations
2. Loan Officer Support
3. Small Business Support
   
   

   Essential Functions - 1 Loan Operations:

   Primary responsibilities are to process and monitor all phases of commercial loans under the direction of Team Leader and or Senior Commercial Loan Servicing Specialist:

   
   
   
   
   • Prepare new loan documentation (Note and/or Loan Agreement) on loans that are not real estate secured and prepare Amendments to Notes and/or Loan Documents as described in the appropriate approval document. Review Commitment Letters prior to them being mailed to ensure the commitment letter matches the approval document. Within regulatory timeframes, create mortgage discharges, assignments and assess the appropriate fees associated, if applicable.
   • Perform a pre-closing and post-closing review of all new loans and amendments for compliance and accuracy and works closely with the closing attorneys and relationship managers to ensure all changes are completed and that the loan was closed in compliance with the approval.
   • Research legal file to provide requested documents or answers to relationship managers, attorneys, or members.
   • Responsible for booking and/or modifying commercial loans. This entails the ability to read and interpret promissory notes and modifications agreements to establish the proper schedules and data on system that will reflect the contract with the member. Must be able to use sound judgment when selecting codes such as property type, account type, flags, etc. as each of these is critical to the system and reporting
   • Review and approval for mailing all commercial loan bills and payment notices.
   • Review the input of all new loans booked on the XP2 system.
   • Review various daily monitoring reports to insure payments were processed correctly. Monitor all declined, withdrawn or approved but not accepted loan applications to ensure a Lost Business Form has been completed and filed.
   • Update outstanding loan documentation and financial information, as well as, monitoring information in the Suntell System. Distribute the Suntell financial tracking and documentation exception reports
   • Prepare the 1502 Colson Report for all of DCU's (including Octant loans) SBA guaranteed loans. Responsible for reporting all loans that fall under HMDA and complete the LAR for each HMDA applicable loan. Update the information required by FHLB on the loans that have been pledged to FHLB
   • Perform simple and complex scheduled and non-scheduled maintenance functions. Payment and disbursement processing functions. Set up new Business Visa accounts on FDR and Springboard. Research and processes all servicing matters relating to Business Visa accounts
   • Perform other job-related duties as assigned by Managers(s).
   
   
   
   
   

   Essential Functions - 2 Loan Administrator:

   Primary responsibilities are to process and monitor all phases of commercial loans under the direction of Team Leader and or Senior Commercial Loan Servicing Specialist

   
   
   
   
   • Assist in the daily requirements of a team of Senior Commercial Lenders, Commercial Lenders and Portfolio Managers. At the direction of team members, responsible for the preparation of Commitment Letters and CPS Adjustments along with communicating directly via e-mail and/or telephonic means with Members, prospective Business Members, Centers-of-Influence (i.e., Insurance Agencies, Accountants, etc.) and State and Municipal agencies related to Member Business Loan and/or Deposit issues and follow-up.
   • Self-directed to review, take action and track Exception Reporting, Matured Loan Reporting, Tax Delinquency Reporting, Insurance Tracking, Financial Statement requirements and Loan Delinquencies. Communicate and report on results in a timely fashion to the team member being supported.
   • Provide quality customer service to both external and internal customers. Perform basic and more complex operation functions as directed by supervisor that may include but not limited to receiving, reviewing and preparing loan files, entering data into a loan or related system, reviewing loan documents, maintaining customer loan and deposit accounts and reviewing loan files for accuracy.
   • Perform general administrative functions within the department that may include but not limited to typing memos, letters and e-mails, answering phones, preparing other correspondence and reports, reviewing and taking action regarding daily reporting, reviewing and submitting vouchers for bill payment, preparing periodic reports and filing as needed.
   • Responsible for direction and/or assistance with special assignments and projects on an as needed basis.
   • Ensures that work is in compliance with applicable laws, regulations and guidelines, as detailed in policies located on intranet; policies include but are not limited to Fair Lending, Know Your Customer, BSA and other applicable anti-money-laundering policies.
   • Responsible for working with lenders to ensure Reg B compliance is met for all loans.
   • Assists in the preparation and distribution of a variety of recurring reports for use in the administration of the commercial portfolio.
   • Responds to a variety of inquires and confirmations on Commercial Members.
   • Assists in the maintenance of system to ensure loan files have updated financial statements, appraisals and other information.
   • Cross-sell DCU's products and services to Commercial Members and affiliates.
   • Perform other job-related duties as assigned by Managers(s).
   
   
   
   
   

   Essential Functions - 3 Small Business Support:

   Primary responsibilities are to process and monitor all phases of commercial loans under the direction of Team Leader and or Senior Commercial Loan Servicing Specialist

   
   
   
   
   • Trial and Delinquency Reporting
   • Open memberships (personal & business) mainly for loan closing
   • Package loans for underwriting by SBS, Credit Department or Octant
     
     
     
     • Gather Documents
     • Pull Credit
     • Research and obtain collateral values
     • Create coversheet
     
     
     
     
   • Prepare and send approval letters on Small Business Loans.
   • Book Visa, Vehicle & Equipment for Small Business
   • Perform post-closing requirements on Small Business Loans
   • Create and send term sheets & commitment letters
   • Update monthly sales spreadsheets (Opened Accts Closed Loan, Business Loans per Branch Reports)
   • Update and send Reg B on a weekly basis
   • Create Reg B letters to be sent to applicants
   • Respond to inquiries regarding daily NSF report, as necessary
   • Separate and save files using Adobe Acrobat
   • FedEx documents (appraisals, loan docs, etc.) as necessary
   • Screen and respond to Service Requests in Pega (payroll/merchant services, LOC, Membership questions)
   • Account and loan maintenance (CPI, Titles, Insurance, M-Holds, Address Changes, provide credit reference requests, complete documentation request to borrowers.)
   • Support all aspects of Pega including loan processing
   • Review exception report monthly and collect required information as needed. Including BBC, A/R tax returns, PFS, etc.
   • Octant- accessing online portal, uploading documentation, downloading file information, contact borrowers regarding- Past Due Taxes and Expired Insurance Report, Delinquent payments, assist with finalizing annual reviews, etc.
   • Interact with business members to:
     
     
     
     • Welcome to DCU and cross-sell commercial lending products
     • Answer their questions
     • Solve issues
     • Request information including information for annual reviews
     
     
     
     
   • Answer phones for the department, ensuring the phones are properly covered during all business hours.
   • Other duties as assigned
   
   
   
   

What You'll Need

Education and Experience Requirements:

• High School diploma or equivalent; some college a plus.
• 0 to 3 years financial institution experience; previous business loan experience a plus.
• General knowledge of banking products and services.
• Capability to understand and work with legal documentation preferred (training will be provided).
• Ability to handle multiple priorities; accuracy and attention to detail a must; self-directed with good follow-through skills.
• Capacity to recognize cross-sell opportunities.
• Competency to conform to policies and procedures.

What We Do

DCU is the largest credit union headquartered in New England - serving more than one million members in all 50 states. With over 1,900 team members, we strive to make DCU a great place to work with an excellent work-life balance, and a community that cares.

DCU is an equal opportunity employer, and we value diversity, inclusion, and equity at our company. We evaluate qualified applicants without regard to race, color, religion, age, sex, sexual orientation, gender identity, national origin, disability, veteran status, and other legally protected characteristics.

If you're applying for a job and need a reasonable accommodation for any part of the employment process, please send an email to careers@dcu.org and let us know the nature of your request and contact information. Please note that only those inquiries concerning a request for reasonable accommodation will be responded to from this email address.