Escrow Funds Specialist

2 weeks ago


Wichita Falls, Texas, United States American National Bank & Trust Full time
Job Overview

POSITION SUMMARY:

The Escrow Funds Specialist is tasked with the efficient and precise disbursement of funds from escrow accounts to designated recipients through electronic transfers or checks. This role collaborates closely with the Escrow Officer to ensure that upon the closure of a real estate transaction, the Escrow Funds Specialist conducts a thorough quality control assessment of the transaction and releases funds once the file is completely reconciled.

KEY RESPONSIBILITIES:

  1. Maintain a comprehensive understanding of all files scheduled for closure on a given day, including their current status.
  2. Oversee the signing of documents, file reconciliation, recording processes, and the acquisition of funding approvals.
  3. Upon confirmation of closing by the Escrow Officer, execute quality control measures to verify payees, align disbursement ledgers with settlement statements, ensure file accuracy, and confirm document recording.
  4. Verify the accuracy of wiring instructions.
  5. Input wire data into the banking system for fund release.
  6. Address and resolve any issues related to rejected wire transfers.
  7. Prepare checks for delivery at the closing table or dispatch to appropriate parties.
  8. Perform additional tasks as assigned by the Supervisor.
  9. Possess experience in managing fiduciary funds, ideally within a title and settlement environment.
  10. Demonstrate a strong understanding of real estate settlement statements, property tax prorations, loan fees, title insurance rates, and commission calculations.
  11. Exhibit the ability to identify discrepancies on settlement statements and verify data accuracy swiftly.
  12. Collaborate effectively with Escrow Officers to resolve issues promptly.
  13. Showcase meticulous attention to detail and strong organizational skills, with a customer-first approach.

ESSENTIAL SKILLS:

  1. COMMUNICATION: Proficient in reading and comprehending documents such as policy manuals and procedural guidelines; capable of writing routine reports and correspondence; effective in conveying information and addressing inquiries in both individual and small group settings.
  2. MATHEMATICAL ABILITY: Skilled in calculating figures and amounts, including discounts, interest, commissions, and percentages; adept at applying concepts such as fractions and ratios to practical scenarios.
  3. CRITICAL THINKING: Able to utilize common sense to execute written, oral, or diagrammed instructions; capable of addressing problems with multiple known variables in routine situations.
  4. SUPERVISION: Operates under general guidance, following policies and directives; seldom requires specific case referrals to supervisors unless clarification is needed.
  5. PLANNING: Holds significant responsibility for planning time and methods for personal work and the work of a team performing similar tasks.
  6. DECISION-MAKING: Engages in work operations that allow for frequent minor and major decision-making opportunities, impacting the work of the organization and its clientele.
  7. MENTAL DEMAND: Requires intense mental focus; operations necessitate close attention for control and coordination, with the ability to multitask effectively in a high-volume setting.

PHYSICAL DEMANDS AND WORK ENVIRONMENT:

The Escrow Funds Specialist may occasionally need to reach with hands and arms, communicate verbally, or listen; regularly required to sit, walk, and use hands for handling tasks; frequently required to stand; may occasionally need to climb, balance, stoop, kneel, or crawl. The role may involve lifting or moving up to 20 pounds. The work is primarily conducted indoors with a moderate noise level.

EXPERIENCE REQUIREMENTS:

  1. High school diploma or GED equivalent.
  2. A minimum of 2 years of experience as an escrow assistant, with direct experience preferred.
  3. Familiarity with the Ram Quest system is a plus, but not mandatory.
  4. Excellent communication and customer service skills are essential.
  5. Able to thrive in a fast-paced environment.
  6. Proficient in Microsoft Office Suite.

REPORTING STRUCTURE:

This position reports directly to the Escrow Manager, who in turn reports to the President of American National Bank & Trust.

DISCLAIMER:

This job description is intended to provide a general overview of the position and is not an exhaustive list of all responsibilities that may be assigned. Duties may be modified, expanded, or delegated by management as necessary to meet organizational needs. This document does not constitute an employment offer or contract.



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