Commercial Servicing Specialist II

4 days ago

Louisville, Kentucky, United States Republic Bank Full time
Job Title: Commercial Servicing Specialist II

Republic Bank is committed to the growth and development of our associates. We offer opportunities to learn all aspects of the company, preparing for future advancement. Our team is dedicated to making an IMPACT for our clients, associates, and communities we serve.

About Republic Bank

Our values are built upon making an IMPACT, which stands for Innovate for the Future, Make it Easy, Provide Exceptional Service, Acknowledge & Celebrate Success, Commit to Caring, and Thrive Together. Our associates are the key to our success, and we value them.

Position Purpose and Objectives

The Commercial Servicing Specialist II position is responsible for providing exceptional customer service to internal and external customers with operational integrity. The primary responsibilities include boarding new commercial loan products, completing changes for modifications and extensions, and ensuring accurate and timely payment and payoff transactions.

Minimum Qualifications
  • Minimum 1 year in the Loan Servicing department with successful completion of the Progression Program or Commercial Servicing experience.
  • Proficiency in Office apps, cloud services, and internet applications (Outlook, Word, Excel, PowerPoint, Access, PDF Editor, Teams, OneDrive, SharePoint).
Essential Job Functions and Responsibilities
  • Review and verify loan documentation for specific information and understand the terms to perform all aspects involved regarding commercial interfaced and manually boarded loans.
  • Complete requests from the Title department to reconcile title funding differences involving monetary and loan maintenance. Research and enter this information in appropriate systems.
  • Research and analyze loan billing and transaction history to determine posting requirements for regular and complex payment scenarios in commercial loans as well as exceptions.
  • Verify interest rate changes for existing loans are accurate according to the terms of the note and are sent to the client according to regulatory guidelines.
  • Research and respond timely to miscellaneous payoff, investor reporting, and file maintenance inquiries from clients, bank personnel, and third-party business partners.
  • Prepare complex payoff quotes and ensure compliance to loan documentation.
  • Automatic Transfer's (ATS) setting up, deleting, and maintenance for loan payments on the loan systems.
  • Review documentation and perform all aspects associated with extension, renewals, and deferred payments which may include modified loan packet and adjustment of system information.
  • Research and enter payment reversals for Non-Sufficient Funds (NSF) upon receipt in alignment with compliance and regulatory requirements; escalate any issues to supervisor.
  • Process payoff funds and maintain daily reporting to ensure all payoffs are processed accurately.
  • Verify and approve account available balance and Key construction/ Line of Credit draw requests in alignment with compliance and regulatory requirements.
  • Process funding transactions for investors on sold serviced-released loans and on sold service retained loans.
  • Research and enter complex assessment, waive, and payment transactions for fees in alignment with compliance and regulatory requirements; escalate any issues to supervisor.
  • Research and enter Collections Partial and Full Charge Off transactions for month-end accounting balancing in alignment with compliance and regulatory requirements; escalate any issues to supervisor.
  • Verify billing notices have generated and are mailed to clients according to regulatory guidelines.
  • Retrieve multiple Indexes from applicable sources for daily, weekly, and monthly rate changes and update core system loan index.
  • Responsible for interest accrual validation.
  • Reconcile outages from multiple general ledger accounts within 48 hours and post transactions to the correct loan. Outages involve basic commercial loans.
  • Create, write, research, and enter test scripts relating to standard transaction testing and Program Change Requests (PCR) testing for acquired banks and core system releases. Escalate to Supervisor as needed.
  • Review new loan products and the creation of their processes and procedures.
  • Adherence to established policies and procedures.
  • Monitor safeguards to ensure the integrity of our client's personal and financial data.
  • Progress to Commercial Servicing Level III role, by successful completion of necessary training and testing.
  • Maintain a working knowledge of compliance requirements affecting your position and area of responsibilities and actively learn new regulations and assist in the implementation, if required.
  • Model and foster behaviors that support the Bank's values and corporate culture creating an atmosphere of trust, cooperation, accountability, and dedication to the organization.
  • Willingly perform all other duties and projects as assigned.
Interpersonal Skills and Competencies Required
  • Excellent verbal and written communications skills.
  • Flexible and able to deal with multiple tasks.
  • Demonstrates more complex math and/or accounting principles as it relates to Loan Servicing.
  • Demonstrates the ability to perform analysis, trend, and effectively report data.
  • Requires ability to work independently and as a team, under pressure, and meet deadlines.
  • Ability to problem solve and evaluates a process for both potential risk and efficiency improvement.
  • Strong organizational skills and attention to detail.
Physical Requirements

The physical demands described here are representative of those that must be met by an associate to successfully perform the essential functions of this position.

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

While performing the duties of this position, the associate is regularly required to sit, use hands to finger, handle, or feel; and talk or hear.

The associate frequently is required to stand or walk. The associate is occasionally required to reach with hands and arms. The associate must occasionally lift and/or move 10 pounds.

Specific vision abilities required by this position include close vision, and distance vision.

The noise level in the work environment is usually moderate.

Other Requirements
  • Travel between Republic Banking facilities may be required.
  • Flexible work schedule that will include some evenings, weekends, and overtime.
  • Stay abreast of new developments, best practices, and statutory and regulatory changes.

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