NMSC Loan Servicing Manager

Posted 21 days ago by NATIONAL EQUITY FUND INC

Not Specified
Illinois, Chicago, United States, 60661
Job Description

Position Overview

New Markets Support Company (NMSC) is seeking a full-time commercial Loan Servicing Manager to oversee the day-to-day responsibilities of the loan servicing department for New Markets Support Company, which services more than $1 B in loans for itself and its clients. The manager will be responsible for training, mentoring and supervising staff, as well as a full range of loan servicing functions, including monitoring control reports, reconciling loans and investigating exceptions. They will on-board loans, invoice borrowers and process loan repayments, as necessary. The Loan Servicing Manager will be the primary escalation point for client service issues, addressing customer and borrower inquiries, and ensuring timely response to field requests for information, actions and documents.

About NMSC

NMSC delivers creative financing solutions to support community-driven investments in underinvested communities across the country. We invest in impact and help others invest in impact. We offer a range of tailored investment services, recognizing that every community has unique strengths and needs, as does every investment we help make in partnership with our clients. We have invested more than $1 billion in distressed communities, financing health centers, community facilities, educational services, small businesses creating quality jobs and more. We leverage our expertise to help other organizations (including banks, community development organizations, foundations and investors) make impactful investments through our Partner Services offerings.

NMSC's values are:

  1. Do Good, Better - we strive to make a difference, we overdeliver to our clients and each other and we try hard because we can't help it
  2. Own It to Earn It - we take responsibility and see it through, everyone makes important decisions and we don't take our partners' trust in us for granted
  3. New Is Our Normal - we are comfortable blazing new trails, we see every challenge as an opportunity to grow, and we love creative solutions and filling gaps
  4. Enjoy the Work - we have fun and celebrate the wins of our colleagues and partners

Keys to Hiring

The ideal candidate for this position has a bachelor's degree in finance or accounting and a minimum of four years' experience in commercial loan servicing operations and two years in a management or supervisory role. We will consider a combination of education and experience for the right candidate. The candidate enjoys solving problems, making process improvements and developing a new team, leading by example by being highly engaged and through empowering the team to deliver on Company objectives. The ability to prioritize personal and team workload is essential. The candidate should possess excellent customer service skills, with the desire to over-deliver to clients, and experience working with various loan types and terms. Strong technical skills, including knowledge of loan servicing software and the use of Excel pivot tables, are highly desired.

Performance Objectives

Primary Objective: The most important performance objective is ensuring the team delivers high quality service to our clients and internal partners through the timely and accurate completion of loan servicing processes. This is both a team and an individual objective and includes ensuring timely and accurate loan onboarding and set-up, borrower invoicing, payment processing, loan reconciliations, addressing customer and borrower inquiries and portfolio reporting. The team is new, so this will require developing, mentoring and managing staff to a high standard.

Secondary Objective: Applying loan servicing knowledge and experience to continually improve processes, reduce risks and eliminate errors. The Loan Servicing Manager will need to quickly learn about the various loan portfolios managed, focusing on key similarities and differences in loan structures and processes in order to integrate the servicing of all portfolios and implement process improvements.

Technical Competency: Become expert in our loan servicing software, helping identify current technical gaps and enhancements required to enable integration of additional loan types and to maximize automation wherever practical. Individual will assist in the investigation and selection of new servicing software. Once selected, they will lead the implementation, data conversion and validation, running of parallel systems and managing the "go-live" after system functionality is confirmed.

Address Problems & Make Improvements: This individual will manage loan servicing staff that are closest to the details and intricacies of each individual loan and loan type we service. Successful candidates will use their management skills and their knowledge and loan servicing experience to help staff identify, understand and fix issues with specific loans or loan types, incorporating these fixes into the overall process to avoid recurrence. Problem identification and solving, pro-active communication and taking action, with feedback from management, to resolve issues will be essential.

Tenacity & Conflict Resolution: The deliverables of the department are time driven based on metrics set by the client and management and hitting these metrics to a high standard are critical to our client's satisfaction. This requires clear focus on the roadblocks negatively impacting deliverable dates and resolving issues as quickly as possible to avoid process delays. These issues aren't always in our control and often require expedient follow-up and follow through to resolve.

Personality & Interpersonal Skills: This is both a management role and a customer facing role that will reflect our product and services to clients. This individual will interact with internal team members and external clients regularly to resolve servicing related issues and to improve the overall service delivery and day to day processes.

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