This position can be in Boston, MA or Lewiston, ME Northeast Bank is a full-service community bank and a national commercial real estate lender with offices in Maine, Massachusetts, New York, and California. We are looking for motivated and talented individuals who want to make an impact in a growing company that cares about its employees, customers, and the communities it serves. Northeast Bank provides competitive compensation and benefits, generous PTO, and a hybrid work environment dependent on the role. If you are looking for a growing organization that prioritizes its employees, we encourage you to apply.POSITION SUMMARY: The Loan Servicing Sub Servicer Oversight Team Lead is responsible for overseeing the performance and compliance of third-party loan servicing vendors. This role ensures that all servicing vendors adhere to internal and external regulations, including SBA guidelines. The Team Lead will maintain strong internal controls, ensure timely and accurate reporting, and perform reconciliations as needed to guarantee that all loan servicing activities meet the company's standards.RESPONSIBILITIES:
- Ensure that all NEB's sub servicing vendors comply with internal policies, industry standards, and regulatory requirements, including SBA guidelines.
- Maintain and update documentation on vendor compliance and performance.
- Ensure the timely receipt of all reports as mutually agreed upon with vendors and distribute those reports to appropriate internal stakeholders.
- Review vendor reports for accuracy, completeness, and compliance with contractual obligations and regulatory requirements.
- Perform reconciliations on NEB's sub servicing vendor to verify that payments are received and processed accurately and on time.
- Resolve any discrepancies in payment processing and reporting, if needed.
- Regularly review and document sub servicers internal controls to ensure compliance with changing regulations and industry best practices.
- Serve as the primary point of contact for internal stakeholders regarding loan servicing issues.
- Communicate effectively with vendors to ensure mutual understanding of expectations and performance standards.
- Collaborate in the development of procedures for Loan Servicing team functions and processes.
- Ensure written oversight plans for the LSPs and sub servicing vendors are in place and updated as needed.
- Assist in the performance and documentation of site inspections of the LSP and sub servicers on a periodic basis.
- Cross trains to learn other functions within department for backup.
- Works and resolves Synapsis/Loan Servicing email box events timely.
- Performing other duties within the same physical and mental scope as needed to assist the department of the Bank.
- Successfully pass technical and regulatory examinations required by the Company.
KNOWLEDGE, SKILLS AND ABILITIES:
- Strong understanding of loan servicing processes and procedures.
- Knowledge of SBA Servicing Requirements.
- Ability to maintain confidentiality.
- Excellent organizational skills and the ability to effectively communicate with all levels of employees.
- Ability to calculate figures and amounts such as interest, percentages, ratios, and proportions.
- Ability to research and resolve complex discrepancies.
- Attention to detail and accuracy in data validation and processing.
- Minimum 10 years of previous experience in a similar role or in the financial services industry required.
PHYSICAL DEMANDS AND CONDITIONS:
- Must be able to remain in a stationary position for long periods of time.
- Must be able to occasionally lift up to 25lbs.
- Consistently operates a computer and other office machinery such as calculator, copy machine and printers.
- Climate controlled general office setting with moderate noise level.
- Must express or exchange ideas and meaning with co-workers, supervisors, customers and vendors.
Northeast Bank is an equal employment opportunity and affirmative action employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity and expression, national original, veteran status and any other classification protected by Law. We celebrate diversity and are committed to creating an inclusive environment for all employees.