Commercial Loan Servicing Specialist

Department:        Loan Documentation & Servicing

Reports to:          Quality Control Manager

Status:                 Non-Exempt

Grade:                  7

Salary Range:      $20.50 - $32.12

Salary range updated 2/26/2026. Actual compensation within the pay range will be determined based on factors including, but not limited to, skills, prior relevant experience, and specific work location.

Location:              Boston, MA or Pittsfield, MA

 

 

Purpose/Objective:

 

Performs a wide variety of tasks related to loan servicing as related to commercial loans according to established policies, procedures and regulatory guidelines thus assuring overall quality and integrity of the Bank’s commercial loan portfolios.

 

Key Accountabilities:

• Reviews daily reports to ensure accurate customer billing, rate review, payment changes, transfers and performs maintenance necessary for corrections. Assists in the ongoing processing of exception handling by pulling and working entries from tracking reports
• Performs the quality control function for new loans and the maintenance on loan modifications. Monitors the integrity of data entered in to core systems.
• Ensures accurate processing of payments, loan advances and transaction reversals necessary to maintain accuracy in the loan core system.
• Processes all non-accrual and charge-off entries for the Commercial Loan Department as well as all OREO transfers.
• Reconciles general ledger balances to ensure system accuracy.
• Provides payoff quotes, transacts the payoff in core and processes the paid loan paperwork including the preparation of collateral releases.
• Monitors the Sharepoint Queues for requests and processes accordingly.
• Maintains job function procedures.
• May assist or act as the main liaison for the ongoing perfection of collateral through UCC continuations and verification of liquid collateral values (i.e., Stocks).
• Assists or acts as the main liaison for the monitoring and payment of loan accounts taxes escrowed.
• Assists or acts as the main liaison for the monitoring of hazard and flood insurance, including force placement.
• Assists or acts as the main liaison for updating the rate indexes daily.
• Acts as the back-up to the Senior Commercial Loan Servicing Specialist for:
  • SWAP processes
  • Requests from the Legal Department regarding confidential information related to subpoenas
  • Requests from the Workout Department related SBA repurchases
• Demonstrates excellent customer service skills at all times to promote a positive image for the bank. Handles customer issues while executing excellent customer service principles. Identifies appropriate area to refer more complex issues and/or problems.
• Troubleshoots routine commercial system problems; provides problem resolution and serves as an information resource regarding system input.
• Performs additional duties, departmental cross-training and participates in special projects as required.
• Ensures compliance with all banking laws, rules, regulations, and prescribed policies/practices/procedures necessary to reduce risk and uphold ethical standards related to and required by one’s duties.

 

Education: 

• High school diploma
• Some college or additional education preferred

 

Experience:

• 3 years’ related work experience
• Knowledge of commercial loan documentation and collateral
• Commercial loan systems experience preferred

Skills & Knowledge:

• Problem resolution capability
• Strong analytical skills
• Ability to read and interpret loan documents
• Excellent verbal/written communication skills
• Proficient in Microsoft Office (Excel, Word) and other report writing software
• Excellent organizational skills with the ability to