Loan Operations Manager

Description

This position is responsible for providing leadership and oversight for the successful daily operations of the retail and commercial loan activities, including servicing, review, reconciliation, and reporting. The Loan Operations Manager also oversees customer escrow accounts, loan related expenses and custodial accounts. Responsible for the loan servicing quality control program, this role is also accountable for management of the Banks loan collection function including loss mitigation and recovery efforts.

Essential Functions:

• Manage the daily activities of the Loan Operations Department to ensure the accuracy of loan files from the booking process through payoff, the preparation of timely and accurate loan tracking and other documentation and servicing of all portfolios and sold loans
• Ensure accurate and complete setup of all new loans, including reconciliation of new loan funding, expenses, and credit to appropriate general ledger accounts. Also includes establishing escrow accounts and FASB deferred fees/costs
• Act as the primary departmental resource for all servicing issues related to commercial, mortgage and consumer loans. Oversee research and resolution of issues related to posting errors and customer inquiries. Escalate more complex issues where appropriate
• Responsible for tracking of all participation loans including review of remittances and incoming payments.
• Oversee property tax tracking and payment process for all commercial and residential mortgages
• Responsible for identifying and correcting any required escrow adjustments to mortgage loans
• Direct the tracking of all delinquent property taxes, PMI cancellation and refund process
• Oversee the calculation of new monthly principal and interest amortizations with requests for recasts of payments when substantial principal reductions have been applied, as well as for all approved loan modifications that require adjustments to the loan.
• Oversee the preparation and remittance of various SBA and Secondary Market report(s) as needed
• Ensure Participation remittances and receipts are performed timely and accurately. Oversee the remittance process for the Bank's portfolio of loans serviced for the secondary market, ensure accurate and timely receipt and posting of payment streams from loans purchased from other lenders.
• Provide leadership and management to the Loan Operations team, including hiring, training, performance management, work assignments, schedules and staff development
• Manage the Bank's loan servicing quality control program. Supervise the sampling, review, and reporting process. Ensure policies and procedures remain current and are properly followed
• Ensure various loan related management and investor reporting is performed accurately and timely according to Bank policies and procedures. Act as subject matter expert regarding Bank's Core Servicing platform (Fiserv Cleartouch) related to loan servicing
• Oversee collection process to ensure timely payment of loans held by the Bank as well as loans serviced for investors. Working closely with Credit Administration Officer, ensure assigned staff is adequately trained in all aspects of the collection process (i.e. repossession, foreclosure, litigation, etc.), including specific regulatory and investor requirements
• Manage loan workout, deficiency litigation and bankruptcy process. Maintain appropriate contact with various third-party providers, legal counsel and court requirements associated with process, and ensure proper documentation is maintained as needed
• Oversee the coordination of all foreclosures; monitor the foreclosure process, preparing Net Realizable Proceeds worksheets, making charge off and foreclosure pricing recommendations, working with appraisal firms and legal counsel as necessary to ensure the Bank secures properties as expeditiously as possible. Manage the liquidation process for all OREO, working with third party service providers (maintenance, repair, Realtors, etc.) to ensure the highest possible liquidations value.
• Remain abreast of current regulatory requirements for loan operations and implement changes as necessary to ensure continued Bank compliance
• Remain aware of other issues affecting loan servicing, including investor requirements and municipal requirements concerning tax payments, and applicable insurance coverages. Make recommendations regarding any operating changes as necessary to ensure continued Bank compliance and efficient operations where appropriate
• Maintain the Bank's construction loan portfolio in accordance with established Bank policies and procedures. Supervise the monitoring of borrower construction advances schedules and oversee all construction and suspense advances to ensure that no advances are made without proper authorization and are consistent with the loan documentation. Oversee the collection of trailing documents from the closing agent and the construction administration firm. Manage the review of month end construction and un-advanced general ledgers. Ensure that appraisers/engineers are contacted for periodic inspections and title searches are ordered as appropriate
• Resolve customer problems as appropriate to meet customer needs, Bank standards and various regulatory error-resolution guidelines, escalating more difficult issues where appropriate
• Perform other loan servicing duties as necessary to meet customer and department workload needs. These duties include issuing payments for real estate property taxes, balancing of escrow accounts, posting payments, and issuing checks for loan disbursements and balancing the department daily.
• Perform additional duties as requested

Requirements

Minimum Requirements (education and experience).

• Bachelor's degree or equivalent relevant experience, with a concentration in business or finance. Plus, a minimum of 5 years of experience in loan servicing, including secondary market operations, quality control. Supervisory experience is required. Excellent customer service, communication, and organizational skills are also required in addition to strong computer skills and familiarity with various software programs.

Work Conditions:

• General office/bank environment
• Able to sit or stand for extended periods of time.
• Must be able to communicate effectively