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Jobs at Vacare Group

Firestone Financial - Commercial Loan Servicing Specialist

Location: Needham, MA

Type: Full Time

Min. Experience: Entry Level

Commercial Loan Servicing Specialist III


Reviews system data to ensure accurate information for entire portfolio, i.e., billing maturity notices, letter of credit reviews, and correspondence.  Handles billing and account problems as they relate to the computer system and the commercial loans, as well as on going collateral documentation.  Serves as an information resource regarding loan system input.    Assists in a variety of functions to ensure in-depth, timely assessment of participation payments and payouts, construction loans, escrow issues, customer interfacing questions and problems, thus assuring overall quality and integrity of the bank’s loan portfolios.

Key Accountabilities:

Ensures accurate system processing of payment data, construction loan payment and advance data, and other payments or reversals to maintain quality of commercial loan system.  Reviews daily reports to ensure accurate customer billing, rate review, payment changes, transfers and performs any maintenance for corrections.  Contacts customers directly when necessary to communicate resolution.  Processes all non-accrual and charge-off entries for commercial loan department as well as all OREO transfers.  May prepare reports and reconcile general ledger balances to ensure system accuracy.  30%


Provides day-to-day management of all commercial loan participations.  Contacts participating banks for all funds transfers and participation loan account reconciliations. Backs up the main manager of the construction portfolio.   30%


Troubleshoots routine commercial system problems; provides problem resolution and documentation.  Develops, implements, and maintains systems procedures.  Serves as an information resource regarding system input.  Tests new system releases to ensure continuity.   20%


Responsible for the ongoing perfection of collateral by pulling reports and then verifying and renewing items such as UCC continuations. Assists in the ongoing processing of exception handling by pulling and working entries from tracking reports. 10%


May assist or act as the main liaison with commercial tax escrow services.   Monitors escrow analysis and resolves any issues.  Contacts municipalities in order to resolve any discrepancies.   Performs other duties as required to support departmental operations.  10%


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.




College education preferred


3 years’ related work experience
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 multi task
Detail oriented; high degree of accuracy
Basic accounting knowledge

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