Job Details

Job Location
Meriden CT - Meriden, CT

Description

Job Summary

The AVP of Commercial Escrow is responsible for developing and implementing strategies to ensure the overall efficiency and effective operation of the commercial escrow function including real estate tax, insurance, escrow analysis, and construction draws according to state and federal law and agency/investor guidelines.

Essential Duties and Responsibilities

• Manages operations for the Commercial Escrow function within the Commercial Loan Servicing business; sets and maintains controls, oversees delegation of work, monitors workflow and results, and develops and implements new processes/procedures as required. Maintains balance of profitability, compliance and customer service.
• Manages Commercial Escrow vendors including Corelogic, Proctor, and property inspection vendor, including performance management, mentoring, training, development, and other vendor management related activities. Sets priorities for the team, recaps and reviews expectations regularly to ensure work is completed according to set standards, completes escrow training and assists with development of Commercial Servicing training materials in escrow related functions.
• Manages the accurate and timely payment of all real estate tax bills and insurance bills. Oversees mass escrow analysis in accordance with regulatory requirements. Acts as liaison between vendors in automation and problem resolution.
• Compiles and monitors monthly operational statistics and reports. Analyzes trends, variances and problem situations. Provides accurate reporting results, including production statistics, actual result to goal and forecasting projections.
• Manages and reviews vendor performance to ensure compliance with business rules.
• Ensures all system enhancements related to escrow and ensures policies and procedures are complete and updated as appropriate.
• Monitors accounts for required insurance including notification and follow-up. Obtains insurance when necessary according to state, federal and investor guidelines and acts as liaison with lender placed coverage carrier.
• Ensures non-escrowed taxes are tracked and payment made to protect PHL interest.
• Ensures completion of all required notifications to customers as required by state and federal law and investor guidelines including but not limited to annual escrow analysis and short year statements.
• Promptly responds to escalated telephone and written inquiries ensuring compliance with all state and federal laws.
• Monitors all loss drafts in accordance with investor guidelines.
• Ensures prompt and accurate setup of all tax, insurance and mortgage insurance information on new and acquired loans and monitors to ensure information is updated and maintained as appropriate.
• Ensures crediting of interest on escrow per state law and investor guidelines.
• by management.
• Performs miscellaneous duties as assigned.

Position Requirements

Education

• High school diploma or equivalent required.
• Bachelor's degree in accounting or finance or equivalent related work experience required.

Experience

• Minimum 10 years Mortgage servicing experience required.
• Minimum 5 years leadership experience required.
• Loan servicing experience in an Escrow Administration, Real Estate Tax and/or Insurance related position strongly preferred

Functional/Technical Skills

• Strong leadership skills with ability to lead team to achieve results
• Excellent written and verbal communication skills
• Excellent organizational and time management skills
• Excellent problem-solving and technical skills
• Advanced knowledge of Excel and MS Office Suite
• Ability to work in a fast-paced environment
• Ability to multi-task and manage time effectively to meet deadlines and manage multiple priorities
• Highly organized, detail oriented and proactive
• Ability to problem solve and research issues when needed
• Strong mathematical and analytical skills
• Ability to effectively interact with managers and members of the functional areas of business

Environmental/Physical Demands

Work is typically performed in a standard office environment. The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. While performing the duties of this job, the employee is regularly required to sustain predictable work attendance, communicate with others, frequently required to stand, walk, sit, and use arms, hands and fingers to reach, handle or touch. The employee must occasionally lift and/or move up to 10 pounds. Specific vision abilities required by this job include close vision, and ability to adjust focus. Pursuant to the Americans with Disabilities Act, reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

This job description is not designed to cover or contain a comprehensive listing of all activities, duties or responsibilities that are required of an employee. The Company reserves the right to amend or modify this document at any time and without notice.

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