Escrow Servicing Manager

Escrow Servicing Manager (Finance)

Salem Five is a growing regional financial services organization with a rich history of over 160 years. As an independent bank, we are deeply rooted in the communities we serve and offer our employees successful and rewarding careers.

Salem Five has more than 30 retail banking branches throughout Essex, Middlesex, Norfolk and Suffolk counties, strong business banking capabilities, an Insurance division, a Wealth Management & Trust organization and a Mortgage Company that has provided home ownership to generations of families.

Salem Five believes deeply in supporting the communities in which we reside. Donations through our Charitable Foundation or events at the branch or location-level are an important part of our DNA. We would not be the company we are without our commitment to businesses and organizations that help the region thrive and to our employees. Come see what we're all about.

• Organize, lead, and manage a team in the execution of all escrow servicing functions, including but not limited to: initial escrow analysis; auditing escrow data automatically mapped to loan accounts during the loan boarding process; manually adding required escrow data that is not automatically boarded; ensuring appropriate tracking and timely processing of tax payments; ensuring appropriate tracking and timely payment of all insurance (Mortgage Insurance, Homeowners Insurance;
  
  Flood Insurance; Life Insurance; Disability Insurance); managing 3rd party vendor relationships; processing payments to vendors for all escrow items; balancing department General Ledgers; assisting customers and other departments with escrow needs; managing service ticketing system to ensure timely response and resolution; annual escrow analysis in compliance with regulations; ongoing implementation of strong controls, assist management with audit responsibilities.
• Responsible for maintaining list of all operational processes in escrow department. Manage maintenance of and enhancements to written operating procedures for all documented processes. Review department functions to identify areas to increase operational efficiency.
• Identify opportunities to gain improvement and efficiency or streamline business through operational workflows with a focus on improving customer experience. Work with management to identify more efficient ways to achieve results by leveraging systems and workflows to streamline processes.
• Understand all escrow functions and the processes/work at a detailed level, so as to be able to analyze and recommend changes that improve efficiency. Ability to train and guide team members on new procedures so they are able to carry forward this knowledge and implement change in the department to more efficiently perform the department functions.
• Implement and sustain strong control environment and disciplines, including:
  • Development and maintenance of written operating procedures for all daily, monthly, quarterly, and yearly loan operations tasks.
  • Define and implement controls to ensure duties are executed accurately and as scheduled, data quality on systems of record, and compliance with bank policy and laws and regulations.
• Provide and promote first class customer service through coaching and training opportunities to staff, assisting with staff to identify priorities, continued workflow and allocating development resources accordingly. Work collaboratively with Contact Center to provide refresher training on escrow analysis and other patterns of tier one tickets submitted to escrow for resolution.
• Assist with roll out of enhancements, upgrades and new loan products and services. Directly responsible for all escrow system testing including all enhancements and upgrades. Responsible for training department on system enhancements and changes and ensuring updated policy and operational procedures. Continually review processes to optimize efficiency, customer experience and controls.
• Manage project scoping, planning and administration. Lead escrow department projects as assigned. Directly responsible for executing projects, completing the testing and implementation and…