Sr Commercial Loan Servicing Specialist

Job Category: Loan Operations - Servicing

Requisition Number: SRCOM
003700

• Posted :
  October 16, 2026
• Full-Time

Showing 1 location

Salem, MA 01970, USA

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.

This position requires the ability to work in the Salem, MA offices.

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.

ESSENTIAL DUTIES AND RESPONSIBILITIES include the following. Other duties may be assigned.

• Perform all department functions in accordance with established policies and procedures; analyze loan packages received to determine best course of action to board to core system (DNA); ensure standards for a complete closing package are met; board all new credits to system of record; process payments and advances; issue statements and notices; adjust interest rates as agreed; respond to internal and external customer inquiries and requests;
  
  maintenance to customer, account, or transactional records; maintain official loan files; ensure boarding of documents to document image system of record with appropriate QC; manage collateral position and release; manage tax and insurance escrow; first level accounting reconcilement.
• Responsible for tracking and maintaining all legal documents including imaging and QC along with tracking of all missing documents. Execute timely to ensure all items received are imaged and all missing items are reporting weekly via audit reports to Commercial Operations.
• Responsible for critical function of updating rate indexes daily in core system with a dual control.
• Responsible for processing any manual rate changes or adjustments required at a loan level.
• Monitor and follow-up on commercial loans designated in a Flood Zone. Work with Loan Officers and in accordance with RESPA to ensure appropriate insurance.
• Responsible for filing of UCC’s financing statements with the City, State or Registry. Track renewals for five year continuation and process UCC terminations.
• Review and recommend adjustments to processes to optimize efficiency, customer experience and controls. Includes ensuring ongoing training on process and systems to fully leverage automated tools for efficiency, quality and control.
• Implement and sustain strong control environment and disciplines, including:
  The development and maintenance of written operating procedures for all daily, monthly, quarterly, and yearly loan operations tasks. Maintaining controls to ensure: duties executed accurately and as scheduled, data quality on systems of record, and compliance with bank policy and laws and regs.
• Reconcile invoices including any requiring manual adjustments from Customer accounts to offset costs.
• Responsible for timely and accurate preparation of payoff quotes; processing of payoff funds; preparation of discharges.
• Responsible for processing approved charge off’s in accordance with policy and accounting standards.
• Archiving paper records in accordance with retention procedures.
• Maintaining exceptional customer…