Senior Loan Servicer

CLASSIFICATION: Non-exempt

REPORTS TO: Loan Servicing Manager

JOB DESCRIPTION

Summary/Objective

The Senior Loan Servicer is responsible for overseeing and executing complex loan servicing functions, including payment processing, account maintenance, payoff processing, and problem resolution. This role provides guidance to Loan Servicing team members, ensures adherence to internal controls and regulatory requirements, and coordinates closely with internal departments such as Loan Processing, Credit Administration, Escrow, and Collateral & Insurance. The Senior Loan Servicer also supports system enhancements, audits, and servicing-related projects.

Essential Functions
Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

• Perform and review complex loan maintenance transactions such as rate adjustments, interest recalculations, reamortizations, payment restructures, and loan reclassifications.
• Resolve discrepancies in loan account setup, payment application, or system errors in coordination with IT and system vendors when necessary.
• Process and verify payoff calculations for complex loans including multi-advance facilities, construction loans, or participation loans.
• Serve as a resource and mentor to junior servicing staff by providing training, answering questions, and reviewing complex transactions.
• Assist the Loan Servicing Manager with workflow monitoring and work allocation to ensure timely processing.
• Daily loan balancing, including non-post, suspense and GL accounts.
• Conduct quality checks on booked loans and servicing activities to ensure accuracy and consistency with credit approvals and legal documentation.
• Identify and report recurring servicing errors, recommend corrective actions, and assist in the development of improved servicing procedures.
• Ensure servicing activities comply with applicable regulations, internal controls, and audit standards.

Other Duties

• Liaise with Escrow, Secondary Market, and Collateral & Insurance teams to resolve exceptions related to loan documentation, escrow tracking, insurance lapses, or lien releases.
• Collaborate with Loan Processing to resolve booking discrepancies identified during the post-booking servicing process.
• Act as backup to Loan Servicing leadership during absences and represent the team in cross-functional meetings as assigned.
• Support internal and external audits and exams by gathering servicing documentation, reconciling balances, and preparing responses.
• Monitor servicing reports and system alerts to proactively identify issues related to payment posting, maturities, or system misalignments.
• Participate in servicing-related projects such as system upgrades, merger integrations, or servicing conversions.
• Provide subject matter expertise in drafting or updating procedures, workflows, or job aids.
• Perform other duties as assigned.

Skills/Abilities

• Computer skills, including Microsoft Office, especially Excel.
• Strong understanding of loan servicing systems (preferably Silverlake).
• In-depth knowledge of loan servicing processes and regulatory requirements (e.g., RESPA, Reg Z, FDCPA).
• Knowledgeable in accounting and reconciliation.
• High degree of accuracy and attention to detail in reviewing loan documentation and system data.
• Strong problem-solving skills with the ability to think critically and recommend solutions.
• Excellent communication and collaboration skills.
• Ability to lead by example and coach team members effectively.
• Comfortable working independently while balancing team responsibilities.

Supervisory Responsibility

This position does not have supervisory responsibilities.

Work Environment

This job operates in an office setting, the opportunity to telework is not available. This role routinely uses standard office equipment such as computers, phones, photocopiers, filing cabinets and fax machines. Office environment with job duties conducted via telephone, face to face meetings, and on the computer.

Physical Demands

This position requires manual dexterity, the ability to lift files and open cabinets. This position requires bending, stooping or standing as necessary.

Travel

Limited local travel may be required for this position.

Education and Experience

• Minimum 3–5 years of experience in loan servicing or loan operations at a financial institution.
• Hish school diploma or equivalent.
• Experience with complex commercial loan structures, participations, or escrowed loans preferred.
• Familiarity with imaging systems, loan ticklers, and compliance documentation is a plus.

Equal Employment Opportunity/M/F/disability/protected veteran status

Please note this job description is not designed to cover or contain a comprehensive listing of activities, duties or responsibilities that are required of the employee for this job. Duties, responsibilities and activities may change at any time with or without notice.