Vice President of Loan Servicing

The Vice President of Loan Servicing provides leadership and oversight for all loan servicing operations, ensuring accurate, efficient, and compliant administration of the banks commercial, consumer, and residential loan portfolios. In conjunction with the Loan Operations Manager, develop and oversee procedures and functions of the department, process improvement, and technology initiatives. Ensure that all servicing and processing procedures are completed with full compliance in federal and state regulations and adhere to bank policy.

Work closely with loan administration and other areas to coordinate department efficiency. Direct reports for this role include the Loan Servicing Manager and Assistant Loan Servicing Manager.

This is a hands-on leadership role requiring a strong “coaching” mindset.

• Serve as the subject matter expert for loan servicing matters across the bank, and as a key resource to loan officers, branches, customers, and other departments
• Lead and actively in all loan servicing operations from posy closing through payoff
• Direct and mentor the Loan Servicing Team
• Lead regulatory examinations, internal and external audits relating to loan servicing
• Identify and implement process improvements, automation initiatives, and technology and MIS enhancements
• Prepare reports for executive management
• Establish and maintain detailed procedures, appropriate performance standards, and strong internal controls to minimize operational and regulatory risk
• Foster a culture of cross-training, accountability, collaborations, and continuous improvement

• Loan boarding and system maintenance
• Payment Processing
• Escrow administration and analysis
• Insurance and tax monitoring
• Maturity, renewal, and rate change tracking
• Payoff calculations, satisfactions, and releases
• Loan modifications
• Collateral documentation and collateral tracking
• Maintain and submit collateral files to FHLBNY; verify and prove submitted accounts to our core system.
• Data integrity, servicing quality control, and exception management

This job is not designed to cover or contain a comprehensive listing of activities, duties or responsibilities that are required of the employee for this job. Duties, responsibilities and activities may change at any time with or without notice.

• Bachelor’s degree in Business, Accounting, Finance, or related field preferred.
• 10+ years of loan servicing experience required.
• Supervisory and management expertise.
• Proven knowledge of banking industry, loan products and services.
• Strong knowledge of commercial loan documentation.
• Knowledge of and experience with escrow analysis, collateral management, and regulatory requirements.
• Strong organizational skills with the ability to manage multiple deadlines.
• High attention to detail and accuracy.
• Proficiency with core banking systems and Microsoft Office.
• Medical, Dental, and Vision Insurance (with employee and family coverage options)
• 401(k) Plan with Employer Match
• Paid Time Off
• Paid Bank Holidays
• Short-Term and Long-Term Disability Insurance
• Profit Sharing
• Employee Appreciation Events

The salary range of $110-125k annually is commensurate with experience, credentials or expertise.

Freedom Bank is an Equal Opportunity / Affermative Action Employer.