Loan Servicing Representative I (Specialty Lending) - Oak Ridge, NJ
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Loan Servicing Representative I (Specialty Lending) - Oak Ridge, NJ
Perform high-level maintenance and audit functions on various commercial, real estate, and small business loans. Manage loan servicing activities including fund application, escrow disbursements, and the monthly billing process.
Requirements
Requires a high school diploma or GED and 1-3 years of experience in interpreting loan documentation. Proficiency in Horizon and ACBS systems, along with strong Excel skills and mathematical ability, is necessary.
Full job description
How would you like to join one of the most highly regarded financial institutions in New Jersey with deep roots in the community? Provident is a successful and highly regarded multi-billion-dollar bank that continues to grow with branches in New Jersey, Eastern Pennsylvania and New York. Our longevity is a testament to our commitment to placing our employees, customers, and the communities we serve at the center of all we do. At Provident Bank, we are committed to enhancing our customer and employees’ experience.
POSITION OVERVIEW:
Under close supervision, this position is responsible for performing high-level maintenance and departmental audit functions on commercial loans, commercial real estate loans, construction loans, ready reserve and small business loans. This position is considered at the entry level. Incumbent performs complex routine and basic duties of the job.
KEY RESPONSIBILITIES:
Assists with managing various commercial loan servicing activities, including but not limited to application of funds, payment of real estate taxes and customer inquiries.
Ensures that areas of responsibility meet required deadlines for both internal and external customers.
Evaluates and resolves high priority or complex issues through communication and negotiation with customers.
Is responsible for setting up all borrower and financial information for entire portfolio of new loan closings on the appropriate Horizon and ACBS systems.
Reads and interprets loan documents and approvals for verification of system accuracy.
Tracks all future interest rate adjustments and verifies accuracy of system-generated letters for compliance with loan documents. Alerts management of any upcoming changes where may need special attention.
Processes all loan modifications, including extensions of maturity, interest rate adjustments, borrower transfers, etc on entire portfolio.
Inputs and verifies that all modified data has been approved by Credit Committee and/or designated loan officer.
Administers real estate tax escrow disbursement report for prevention of negative escrow transactions for all loans.
Directly contacts local municipalities as needed for clarification of amounts due and resolving any discrepancies regarding borrower real estate tax payments made by The Provident Bank.
Responds to all borrower inquiries for reconciliation of escrow transactions. Re-analyzes escrow accounts where deficiencies are noted.
Handles entire monthly billing process, which includes assuring that all commercial account bills are generated and mailed to customers.
Adheres to finest quality control standards.
Contacts borrowers on returned mail items for address verification.
Processes all monetary transactions including, monthly payments, fees, payoffs, construction and commercial line/loan advances and pay-downs and performs any corrections and adjustments as warranted.
Trains new staff on Bank’s policies and procedures needed to perform their respective job function.
Perform other duties as assigned by management.
MINIMUM QUALIFICATIONS:
High school diploma or GED
1 - 3 years of experience
Interpretation of all loan documentation.
Ability to exchange information clearly and concisely and to present ideas and report facts.
Working knowledge of Horizon System, ACBS System, PC skills.
Ability to create Excel Spread Sheet and utilize formulas for creating bills and various reports.
Take ownership of workflow and resolve problems with minimal to no supervision.
Ability to multi-tasking is imperative.
Excellent communication and organizational skills.
Strong mathematical background required.
WORKING CONDITIONS:
Work is performed in a normal office environment. Noise levels are usually moderate. This position involves travel to customers and property locations.
Prolonged sitting
Lifting from 5 to 10 lbs. (printer paper, storage boxes)
Occasional bending or overhead lifting (storing files or boxes)
The hazards are mainly those present in a normal office setting
This job description may not be all-inclusive. Employees are expected to perform other duties as assigned and directed by management. Job descriptions and duties may be modified when deemed appropriate by management.
Provident Bank recognizes and supports the importance of creating a socially and culturally diverse employee base. We understand, value, and appreciate the unique perspectives that a diverse workforce can contribute to our organization. We put the employee and the customer at the center of strategy because culture is a critical differentiator for why people choose to work here.
We are an equal opportunity employer, and all qualified applicants will receive consideration for employment without regard to age 40 and over, color, disability, gender identity, genetic information, military or veteran status, national origin, race, religion, sex, sexual orientation or any other applicable status protected by state or local law.
Pay Details:
$16.92 - $21.18 hourly
Please note, the base pay actually offered may vary based upon the candidate's skills and experience, job-related knowledge, education, geographic location, internal equity, and other applicable business and organizational needs.
This role is incentive eligible based upon company, business, and/or individual goal achievement and performance.
Team members accrue paid time-off (PTO), receive Holiday (PTO) and are eligible to participate in the bank’s Health and Wellness benefits including Medical, Dental and Vision Plans, Flexible and Health Savings Accounts, and a 401(k) Retirement Plan. In addition, the company provides Disability Insurance, an Employee Assistance Program, and Basic Life Insurance. Company sponsored Tuition Disbursement and Loan Repayment programs are also available. Voluntary benefits include Supplemental Life Insurance, Accident, Critical Illness, Hospital Indemnity and Legal plans.
Related keywords
Loan ServicingCommercial Real Estate LoansConstruction LoansSmall Business LoansHorizon SystemACBS SystemEscrowLoan ModificationsCredit CommitteeFinancial InstitutionsBankingAudit FunctionsLoan ClosingsInterest Rate AdjustmentsBilling Process
Established in 1839, Provident Bank has a strong history of service and stability.
As we expanded, our capabilities grew to rival larger regional and national banks. However, our advantage over those larger banks is that we have also maintained our commitment to providing personal service.
We serve individual and commercial customers with a wide scope of products and services. From personal checking to commercial loans, each account comes with individual attention from a Provident banker.
Provident Bank is the wholly owned subsidiary of Provident Financial Services, Inc. (NYSE:PFS) and serves its customers through an extensive network of more than 80 branches throughout New Jersey and Pennsylvania and telephone and online banking systems.
Member FDIC
Offices: 239 Washington Street, Jersey City, NJ 07302, US · 100 Wood Avenue S, Iselin, NJ 08830, US
How much do Administrative jobs in New Jersey pay?
Based on 1264 listings with disclosed salaries, most administrative jobs in New Jersey pay between $51k–$100k per year. Individual offers vary with seniority, company size, and specialization.
How many Administrative jobs are open in New Jersey right now?
There are currently 5,942 open administrative positions in New Jersey listed on Clera. New openings are added daily as companies post roles.
Which companies are hiring for Administrative roles in New Jersey?
Companies currently hiring include Hackensack Meridian Health, Cooper University Health Care, Atlantic Health, Summit Health, Laboratory Corporation of America Holdings, among others. Browse the listings above to see every active employer.
Are there remote or hybrid Administrative jobs in New Jersey?
Yes — 660 of the 5942 open administrative positions offer remote or hybrid work (186 remote, 474 hybrid).
How do I apply for Administrative jobs in New Jersey?
Each listing links directly to the employer's application page. Apply early — fresh listings get the most recruiter attention in the first two weeks.