Job Information
Newtown Savings Bank Loan Servicing Operations Officer (onsite) in Newtown, Connecticut
Location: Newtown, CT
Newtown Savings Bank is seeking an experienced loan servicing professional, with strong leadership and supervisory experience, to join our team as Loan Servicing Operations Officer. The Loan Servicing Operations Officer plays a pivotal role in overseeing the day-to-day operations of consumer and business loan servicing, ensuring the efficient and accurate processing of loan accounts. This role involves managing a team, ensuring compliance with banking regulations, investor guidelines, handling customer queries, and supporting loan servicing activities, including reviewing new loan input, reviewing loan maintenance, escrow and training team members. Works closely with internal teams, vendors and system core provider (COCC – INSIGHT) to resolve issues, improve processes, and enhance customer satisfaction.
This is an onsite opportunity at our Corporate office in Newtown, CT. This role has remote option of one day per week.
PRIMARY RESPONSIBILITIES
Manage, motivate and train Loan Servicing staff. Manage and monitor staff performance, establish and monitor the completion of goals, coach, motivate and recommend personnel actions. Ensure all assigned tasks are completed within timeframes and according to policy. Following the Bank’s performance partnership process, provide quarterly check-ins and annual performance evaluations of direct reports.
Knowledge and understanding of the COCC INSIGHT system for all mortgage/loan products, and the ability to provide high level customer service to our internal and external customers.
Ensure that all employees are well informed and understand all consumer and commercial lending communications regarding changes in policy, process, procedure, pricing and the strategic direction of the bank.
Manage the Loan Servicing operational areas by developing, reviewing, challenging and updating the departmental procedures and reporting capabilities in accordance with Bank policy and regulatory requirements.
Review and ensure FDICIA controls are appropriate, current and that staff is completing the control documentation as required. This should include segregation of duties and verification of system input during all stages of the loan workflow.
Manage the FDIC, State of Connecticut and internal audit and examination processes for lending operations including asset recovery.
Oversee the day-to-day administration of loan accounts, ensuring that all servicing functions such as investor reporting, on-boarding new loans, disbursements, payments, and adjustments are processed accurately and on time.
Manage daily all prior day maintenance to ensure accuracy on the core system (COCC – INSIGHT).
Oversee the construction administration process which includes budgeting, inspections, advances and the completion of the loan into repayment.
Oversee the Investor relationships and secondary market transactions as well as timely reporting. This includes GSE’s, private banks and investors, the SBA as well as other servicing related entities such as Catholic Charities Family Loan program and Habitat for Humanity.
Oversee the day-to-day operations of Commercial (commercial, construction, small business) lending post-closing documentation administration and overall functions in accordance with bank and regulatory policy. Ensure proper on-boarding, funding, payment processing, payoffs and daily balancing.
Evaluate and refine existing systems and processes and look to increase efficiency and accuracy of loan operations. Manage workflow in accordance with departmental standards based on defined metrics.
Adhere to all State and Federal Banking regulations, receive and research new regulations, policies and procedures and implement them. Stay current on compliance and regulations by attending seminars and reading available information. Ensure necessary changes or recommendations have been implemented as directed.
Ensure that Key Performance metrics are being tracked and reported on for all aspects of the loan servicing and collections areas with the goal to increase efficiency over all aspects of the business.
Maintain relationships with the core processing system, investors, service bureaus, credit companies, and other third-party vendors.
Participate in various civic and community functions to further enhance the image of the bank and to network for continuous new business opportunities.
Must maintain the highest level of confidentiality with all customer information.
POSITION REQUIREMENTS
Bachelor’s degree, or 3-5 years equivalent experience.
2-3 years of supervisory and leadership experience and relevant loan operations management is necessary.
Must have a detailed knowledge of all lending products including residential, commercial and consumer loans as well as the Secondary Market and Investor servicing.
The position requires strict adherence to compliance regulations as well as State and Federal regulations.
Must have good communication skill, train, lead, inspire and motivate teams.
Must be organized, proactive, solution-oriented and the ability to deliver a high quality of customer service.
Strong decision making is required and the ability to problem solve and multi-task in a fast-paced environment is necessary.
Experience working with COCC Insight is preferred but not required.
QUALIFICATIONS
To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed above are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
Any physical demands or work conditions described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
Full time employees also receive a complete benefit package including a generous 401(k), medical benefits, paid time off, and short and long term disability programs.
Newtown Savings Bank is an equal opportunity and affirmative action employer regardless of race, gender, disability status, protected veteran status. All qualified applicants will receive consideration for employment without regard to race, color, religion, gender, age, marital status, national origin/ancestry, sexual orientation, gender identity, disability status, protected veteran status, or any other legally protected status.
