Position Summary

The Loan Servicing Specialist is responsible for the accurate and timely administration of commercial and consumer loan transactions throughout the loan lifecycle within the Fiserv banking system. This position manages loan boarding, renewals, extensions, modifications, payment processing, advances, payoffs, account maintenance, participation processing, escrow administration, wire transfers, and loan file management. The Loan Servicing Specialist serves as a resource for customers and internal staff, ensuring compliance with Bank policies, regulatory requirements, and operational procedures. Success in this role requires commitment to professionalism, accuracy, customer service, teamwork, and operational excellence. 

Essential Duties and Responsibilities

Loan Servicing & Administration  

• Board new commercial and consumer loans into the Fiserv banking system. 
• Process loan renewals, extensions, modifications, and maintenance requests. 
• Maintain accurate loan records and account information within the Fiserv banking system. 
• Process customer loan payments, principal reductions, advances, transfers, and payment adjustments. 
• Prepare and process wire transfers related to loan funding and line-of-credit advances. 
• Prepare payoff quotes, payoff letters, and payoff calculations upon request. 
• Process loan payoffs and complete related account maintenance activities. 
• Prepare and process collateral releases and related documentation following loan payoff. 
• Maintain, organize, scan, archive, and retrieve loan documentation and files. 
• Research and resolve loan servicing discrepancies, payment exceptions, and account maintenance issues. 
• Respond to customer inquiries regarding loan balances, payments, advances, payoffs, escrow accounts, and general loan servicing matters. 
• Communicate with borrowers and internal departments regarding servicing requests and account maintenance. 
• Perform additional duties and special projects as assigned.

Loan Participation Administration 

• Review participation activity and reports. 
• Process incoming and outgoing participation payments accurately and timely. 
• Reconcile participation balances and research discrepancies.
• Communicate with participating institutions regarding payment activity and servicing matters. 

Escrow Administration 

• Establish and maintain escrow accounts for taxes and insurance. 
• Review escrow balances and payment requirements. 
• Process real estate tax and insurance disbursements in a timely manner. 
• Research and resolve escrow-related discrepancies and exceptions. 

Compliance and Risk Management

• Ensure loan servicing activities comply with Bank policies, procedures, and applicable federal and state regulations. 
• Maintain accurate loan records and documentation in accordance with regulatory and internal requirements. 
• Protect the confidentiality of customer and Bank information. 
• Support internal audits, external audits, and regulatory examinations by providing requested documentation and research. 
• Identify and escalate operational, servicing, documentation, and compliance concerns as appropriate. 
• Adhere to Bank security procedures, fraud prevention practices, and risk management standards. 

Operational Support and Continuous Improvement

• Serve as a resource for branch personnel and internal departments regarding loan servicing procedures, processes, and account maintenance. 
• Provide support to Loan Operations team members and assist with departmental functions as needed. 
• Participate in cross-training activities to ensure adequate departmental coverage and business continuity. 
• Identify opportunities to improve workflows, operational efficiency, accuracy, and customer service. 
• Assist with the implementation of process improvements, system enhancements, and operational initiatives.
• Contribute to maintaining accurate procedures and documentation for loan servicing functions. 
• Support departmental projects, audits, conversions, and other operational initiatives as assigned. 
• Demonstrate a commitment to professionalism, teamwork, and continuous learning. 
• Maintain a high level of accuracy, productivity, and customer service while meeting established deadlines.  

Qualifications

Education

• High school diploma or equivalent required.
• Associate degree or bachelor’s degree in business, Finance, Accounting, or a related field preferred.

Experience

• Minimum of two (2) years of experience in loan servicing, loan operations, banking, or financial services required. 
• Experience with commercial and consumer loan portfolios preferred. 
• Experience with loan boarding, account maintenance, payment processing, advances, wire transfers, participation administration, escrow      administration, and loan payoff processing preferred. 
• Experience with banking core systems, including Fiserv, preferred.

Knowledge and Skills

• Ability to perform all essential duties accurately, independently, and in a timely manner.
• Knowledge of commercial and consumer loan servicing activities, including loan boarding, maintenance, payments, advances, payoffs, participations, and escrow administration. 
• Working knowledge of banking regulations, policies, and compliance requirements. 
• Knowledge of the Fiserv banking system or similar core processing systems preferred. 
• Strong attention to detail with a high degree of accuracy in data entry, transaction processing, and record maintenance. 
• Excellent organizational and time management skills with the ability to manage multiple priorities and deadlines. 
• Strong analytical, research, and problem-solving skills. 
• Excellent customer service and relationship management skills. 
• Strong verbal and written communication skills with the ability to interact effectively with borrowers, participating institutions, vendors, and internal departments. 
• Proficiency in Microsoft Office Suite, including Excel, Word, and Outlook. 
• Ability to maintain confidentiality and handle sensitive customer information appropriately. 
• Ability to work independently while contributing positively to a team environment. 
• Ability to identify issues, recommend solutions, and escalate concerns when appropriate. 
• Commitment to professionalism, accuracy, customer service, and teamwork. 

Core Competencies

• Loan Servicing & Administration 
• Loan Operations Expertise
• Fiserv System Proficiency 
• Payment Processing & Account Maintenance 
• Escrow Administration 
• Participation Administration 
• Customer Service Excellence 
• Attention to Detail 
• Accuracy & Quality Control 
• Regulatory Compliance 
• Risk Awareness 
• Problem Solving & Analytical Thinking 
• Communication Skills 
• Time Management 
• Organization & Prioritization 
• Teamwork & Collaboration 
• Adaptability & Flexibility 
• Confidentiality 
• Operational Efficiency 
• Continuous Improvement 
• Professionalism 
• Relationship Management 

Physical Requirements & Working Conditions

• Professional office environment.
• Ability to sit for extended periods and use a computer workstation regularly.
• The ability to see clearly at 20 inches or less, with or without corrective lenses, to read documents and/or view computer screens.
• The ability to hear, with or without hearing assistance, and communicate effectively in person and by phone.
• The ability to use hands/fingers to enter, retrieve, and manipulate data using a keyboard and computer on a daily basis.
• Frequent use of telephone, email, and other digital communication tools.
• Ability to manage multiple tasks and deadlines in a fast-paced banking environment.

Additional Expectations

• Support and promote the Bank’s vision, mission, core values, organizational structure, policies, and procedures.
• Demonstrate professionalism, integrity, and a commitment to regulatory compliance and ethical business practices.