FirstBank Jobs

LOAN SERVICING MANAGER

DEPARTMENT: Loan Servicing REPORTS TO: Chief Operations Officer, EVP

SUPERVISES: Loan Servicing Collections Specialists and Loan Servicing Specialists

LOCATION: Evansville Region Operations Center REMOTE POSITION: No

FSLA: Exempt STATUS: Full-Time

OFFICER STATUS: Officer

HOURS: Monday Friday, 8 am 5 pm *Over-time may be required if business and staffing needs dictate.

First Federal was established on Evansville, Indianas Westside in 1904 and is a community bank currently serving communities in the tri-state area with several branch locations in Posey, Vanderburgh, Henderson, Warrick, Daviess and Pike Counties.

Full-time employees of First Federal are offered a comprehensive benefit package including PTO, 11 paid Holidays, 401k with Match, ESOP, company paid Disability and Life insurance and Health and Wellness Options including Medical, Dental, Vision, Life and Supplemental Insurance. Our Part-time employees can choose to enroll in our Tri-State Wellness Clinic Program, Dental, Vision and other various supplemental insurances.

Aside from that, all employees can expect to receive discounted bank services such as free checks, discounts on loans, waived processing fees and much more.

Diversity and Inclusion

First Federal is committed to creating an inclusive work environment where business results are achieved through the skills, abilities and talents of our diverse workforce.

At First Federal, individuals are respected for their contributions toward our company objectives. We strive for an inclusive work environment across all levels that is reflective of the available workforce in the communities we serve.

POSITION SUMMARY:

Job responsibilities of the Loan Servicing Manager include oversight of the Collections and Loan Servicing areas of the Bank. Monitor departments daily operations for accuracy and completion. Identify and understand any issues or problems within the department, in terms of processes and staffing, and resolve them in a timely manner. Responsible for staff development including training, goal setting, performance reviews, and performance management. Oversee, direct, train, collaborate and organize the work of the Loan Servicing team. Ensure compliance with regulatory and investor requirements affecting the area of responsibility. Coordinates implementation and training for new processes within the department. Also responsible for all related BSA functions.

ESSENTIAL DUTIES AND RESPONSIBITIES:

• Works with team to develop processes and standards for functions within the Loan Servicing area
• Direct the implementation of operations policies and procedures
• Continued development and improvement of all Loan Servicing processes and procedures to enhance productivity, accuracy and efficiency
• Ensures all standard operating procedures are created, updated, and maintained for all functions within Loan Servicing area
• Assist staff with resolution of specific loan or system related issues
• Maintain and demonstrate proficiency with loan software applications. Work with system providers to utilize applications to the fullest capacity, streamlining processes and procedures, ensuring accuracy and compliance. Assist with system parameters and updates when called upon to do so
• Setup, review and training for new systems utilized within Loan Servicing
• Develop procedures as needed and overall coordination of department workflow
• Analyze operational problems and develop procedures for their resolution
• Stays current on policy changes and regulations and maintains compliance throughout the department
• Create and maintain adequate controls to ensure compliance of Loan Servicing processes especially through regulation changes and system updates
• Selection, development and training of staff
• Communicate with Bank department managers to promote time y and efficient processes
• Participate as a team member on Bank wide initiatives and projects
• Review of processes needed to maintain compliance of all investor requirements including remittances, tracking, reconciliation, loss mitigation, servicing, and reporting
• Ensure all escrow requirements have been met regarding the disbursements of taxes, PMI insurance, homeowners insurance, as well as, proper escrow analysis compliance
• Monitor collections numbers, losses, disposition of foreclosed and repossessed collateral, etc. to ensure proper procedures and regulations are followed and appropriate delinquency levels are maintained
• Ensures collection functions are completed in accordance with established policies and legal requirements. Observes secondary market requirements for collecting and servicing loans
• Analyzes, negotiates, and makes recommendations on all matters regarding real estate foreclosure and collateral repossessions
• Identifies and solves complex collection and servicing situations
• Conduct team meetings within department to aid in training, communication, and collaboration
• Monthly reconciliations for Investor accounts (FNMA, FHLBI, and Habitat)
• Approval of all Escrow and PMI drop requests to ensure bank and regulatory compliance is maintained.
• Preparation of monthly management and board reports
• Serve as a back-up and provide advisement for weekly and monthly flood insurance reviews to ensure compliance with regulatory timing and requirements
• Secondary review of adjustable rate notices to ensure proper setup of accounts and rate changes
• Secondary review of all monthly balancing of general ledgers used for servicing functions
• Perform secondary reviews on necessary tasks completed by the Senior Loan Servicing Specialists
• Back-up the Loan Servicing Assistant Manager or assign the necessary tasks to the appropriate team member during absence
• Performs other duties as required

EDUCATION and EXPERIENCE:

• Four year degree in related field or equivalent combination of education and advanced level experience

• Banking/Lending experience to ensure knowledge of loan operations in production, servicing, and collections

• 5+ years Supervisory/or Management experience preferred

• Knowledge of servicing/lending regulations

• KNOWLEDGE, SKILLS AND ABILITIES:

• Strong knowledge of lending procedures and practices

• Strong knowledge of lending regulations in relation to lending, servicing, and collections

• Familiarity with servicing and loss mitigation functions with Fannie Mae

• Ability to utilize Windows Operating system and Microsoft Office products

COMPETENCIES NECESSARY TO BE SUCCESSFUL IN THIS POSITION:

Accountability - Willing to accept responsibility for their own work

Accuracy - Ability to perform work accurately and thoroughly

Adaptability Adapts to changing work environments, work priorities and organizational needs. Able to effectively deal with change and diverse people

Analytical Skills - Ability to use thinking and reasoning to solve a problem

Coaching and Development - Ability to provide guidance and feedback to help others strengthen specific knowledge/skill areas

Communication - Excellent verbal and written communication skills and having the ability to communicate