Loan Servicing Associate

Position Summary

The Loan Servicing Associate prepares daily and monthly reports and reconciliations in accordance with the Bank's standard operating policies and procedures and in compliance with all applicable laws. The Associate is responsible for maintaining, reconciling, and analyzing the SBA loan portfolio and for the required reporting and remittance requirements for Unity Bank in the servicing of its loan portfolio. In addition, the incumbent will assist in the servicing of the Banks's commercial and residential loan portfolio.

Essential Functions

• Prepare and reconcile the SBA 1502 Monthly Report and remit funds accordingly according to Bank and SBA policy and procedures; remit payments throughout the month as required.
• Learn and become versed in the SBA's standard operating procedures "SOP" that are applicable to the role and loan servicing
• Process and reconcile Daily 1502; correct any exceptions noted.
• Review and reconcile daily transactions to ensure data is accurately entered into the loan accounting system; correct any errors found on a daily basis; check figures, postings, and documents for correct entry, mathematical accuracy, and proper codes.
• Research and respond to monthly exceptions on report from the SBA's Fiscal Transfer Agent; correct loans as necessary.
• Reconcile all SBA 1149 Lender's Transcripts of Account as requested by the Asset Recovery Department.
• Prepare, process, and remit funds via SBA's Form 172 on all payments received on SBA loans after the guaranty has been paid.
• Reconcile and remit funds to loan participants pursuant to each respective participation agreement and the Bank's policies and procedures.
• Process SBA code and letters-of-intent changes as directed to ensure the accuracy of the 1502 Report.
• Communicate with customers and employees to answer requests and resolve problems; research issues to correct errors; provide resolution to customer and/or employee issues quickly and accurately.
• Update Document Tracking Spreadsheet daily to track files and pending loan documents for new loans; follow-up as needed with agencies, local government offices, etc. for recorded mortgages, title policies, etc.
• Prepare and complete the New, Paid and Disbursement report on a monthly basis
• Respond to inquiries from customers and bank employees regarding loan documents, collateral and other general requests.
• Complete daily and monthly commercial and SBA general ledger reconciliations
• Complete monthly SBA available for sale report
• Research LAS non-posted items daily and correct them.
• Perform general ledger maintenance and journal entries daily.
• Assist in the regularly conducted department audits.
• Create ad hoc reports when requested.

Additional Functions

• Generate payoff quotes when requested by borrower and/or co-worker and allocate payoff funds when received.
• Apply payments when received for commercial, SBA, consumer and LoanCare loans
• Monitor and perform loan advance requests.
• Participate on or lead special projects and team process development as assigned.
• Keep current with SBA SOP Guidelines and Procedures
• Monitor Loan Servicing mail boxes as requested and assigned
• General Loan Servicing (answering phones, email, customer service, etc...)
• File room general knowledge
• Train department employees on best practices and procedures

Job Requirements and Qualifications

Education and Experience

• Bachelor's degree in accounting, business or business-related field, or one year experience in loan servicing.

Knowledge, Skills, and Abilities

• Knowledge of all loan products and software
• Proficient in MS Office Applications
• Ability to calculate figures and amounts such as discounts, interest, commissions, proportions, percentages, and area. Ability to apply concepts of basic algebra.
• Ability to read, analyze, and interpret legal documents, governmental regulations, and professional publications.
• Ability to effectively present information and respond to inquiries from senior management, attorneys, vendors, government agents, and the public.
• Ability to write reports and business correspondence.
• Ability to speak and write clearly to effectively convey information so that others understand and as appropriate for the needs of the audience.
• Ability to apply common sense understanding to carry out written and oral instructions. Ability to deal with problems involving several concrete variables in standardized situations.
• Ability to work independently with little supervision.
• Ability to train others

Physical Requirements

• Ability to sit up to 75% of workday.
• Ability to stand up to 10% of workweek.
• Ability to use hands to grasp, handle or feel.
• Ability to use computer keyboard and system to enter data and process information.
• Ability to talk, hear, and see.
• Ability to use telephone to communicate with others.
• Ability to lift up to 10 pound files up to 2/3 of day.
• Ability to use office equipment such as teller scanner, personal computer, telephone, Blackberry, copier, fax machine, adding machine, etc.

Working Conditions

• Moderate sound as in business office with office machines, computers, and people traffic. Open floor work environment.

Unity Bank is an Equal Opportunity Employer of women, minorities, protected veterans, and individuals with disabilities.

This job description is not an employment agreement or contract, implied or otherwise. Unity Bank maintains "at-will" employment.

This document describes the position currently available. It is intended to convey information essential to understanding the scope of the position and is not an exhaustive list of skills, efforts, duties, responsibilities or working conditions associated with it. Unity Bank reserves the right to modify duties or job descriptions at any time. Nothing in this job description restricts management's right to assign or reassign duties and responsibilities at any time. Individuals may perform other duties as assigned, including work in other functional areas to cover absences or relief, to equalize peak work periods or otherwise balance the workload.

Unity Bank is committed to the principles of equal employment opportunity and prohibits discrimination in hiring, promotion and terms and conditions of employment on the basis of race, creed, color, national origin/nationality, ancestry, religion/religious practices or observances, age, sex, gender identity or expression, affectional or sexual orientation, marital status, civil union status, domestic partnership status, disability or perceived disability, atypical hereditary cellular or blood trait, genetic information, and status as a veteran or disabled veteran of, or liability for service in, the Armed Forces of the United States.

Unity Bank commits to making reasonable accommodation to the known physical or mental limitations of qualified individuals with disabilities and qualified disabled veterans provided the individual is able to perform the essential functions of the job, unless such accommodation would impose an undue hardship upon Unity Bank. A qualified employee or job applicant with a disability may request a reasonable accommodation by contacting Unity Bank's human resources department.