Loan Servicing Portfolio Specialist

2 weeks ago

Spokane, Washington, United States Northwest Business Development Association Full time
Job Overview

Position Title: Loan Servicing Portfolio Specialist

Reporting To: Loan Servicing Supervisor

Employment Status: Non-Exempt

Salary Range: $43,920 - $54,900 annually

Comprehensive Salary Range: $43,920 - $65,880 annually - Higher compensation is reserved for employees demonstrating exceptional performance and tenure.

POSITION SUMMARY: This role is tasked with overseeing the loan servicing and collection processes within the organization.

KEY RESPONSIBILITIES:

  • Administering general loan servicing and collection protocols, including commercial credit assessment and documentation.
  • Ensuring timely collection of overdue loan payments.
  • Providing extensive support for problematic loans, particularly in relation to Third Party Lenders.
  • Assisting the Portfolio Manager in preparing SBA liquidation submissions.
  • Conducting regular financial assessments and assigning appropriate loan grades based on current financial statements or alternative methodologies.
  • Utilizing analytical skills to identify information and develop effective action plans to mitigate credit and industry risks.
  • Proactively gathering information from borrowers and third-party lenders to evaluate credit risks associated with loans.
  • Evaluating financial performance and providing insights on trends and comparisons to industry standards.
  • Recommending adjustments to monitoring practices or borrower statuses when necessary.
  • Documenting files thoroughly and preparing required reports, including delinquency and workout reports.
  • Assisting with servicing requests such as assumptions and collateral releases.
  • Performing clerical duties, including typing, copying, and filing loan-related documents.
  • Supporting various departments with tasks related to the loan process as needed.

ADDITIONAL DUTIES:

  • Making recommendations for procedural improvements to enhance operational efficiency.
  • Participating in meetings as requested by management.
  • Engaging in training sessions that will benefit current or future roles.
  • Assisting with additional tasks as directed by management.
  • Adhering to all organizational policies and procedures.

MINIMUM QUALIFICATIONS:

  • Bachelor's Degree in Accounting, Finance, Business, Economics, or a related field, or equivalent practical experience.
  • Two years of prior experience in lending, including Credit Analysis and Loan Documentation.

Skills and Competencies:

The ideal candidate should possess:

  • Strong proficiency in PC applications, particularly MS Office Suite.
  • Ability to maintain confidentiality.
  • Effective verbal and written communication skills.
  • Strong interpersonal skills and the ability to collaborate with diverse teams.
  • Excellent organizational and time management abilities.
  • Dependability and adherence to schedules.
  • Analytical and problem-solving skills.
  • Resourcefulness and initiative in project development.
  • A strong customer service orientation.

OTHER SKILLS:

Proficiency in Microsoft Office Suite, with experience in financial software being a plus. Ability to quickly adapt to new programs.

LANGUAGE ABILITY:

Capability to read and interpret business documents and regulations, and to create detailed reports and correspondence.

MATHEMATICAL ABILITY:

Ability to perform calculations related to financial assessments and interpret spreadsheet data.

REASONING ABILITY:

Ability to apply common sense to follow instructions and solve complex problems.

PHYSICAL DEMANDS:

This position is primarily sedentary, requiring:

  • Extended periods of sitting; occasional bending and lifting of light office supplies.

BENEFITS:

  • Comprehensive medical, dental, vision, and life insurance for full-time employees.
  • Eligibility for a 403(b) retirement plan with employer matching after six months.
  • Accrual of vacation time and paid holidays.
  • Potential for annual bonuses based on performance.

WORK ENVIRONMENT:

Office setting.

Note: Remote or hybrid work arrangements are not available for this position.

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