Head of Loan Servicing

POSITION : Head of Loan Servicing

Summary :

At Cambridge Savings Bank, our purpose is to have a positive impact on our customers, employees, and community's financial well-being.

We are committed to exceeding expectations, having a strong commitment to diversity and inclusion, and fostering a highly collaborative and customer centric environment.

The Head of Loan Servicing will be responsible for the development, quality, and overall management of the Commercial Loan Servicing, Residential / Consumer Loan Servicing, Quality Control, and Post Closing functions to provide exceptional service to all business partners and external clients.

This role will develop and implement effective departmental strategies that align with the bank's strategic objectives, including growth and project initiatives, and ensure department objectives are accomplished and in compliance with regulations.

The Head of Loan Servicing will also maintain on-going, effective communication with senior management - regarding loan servicing and exception processes.

Additionally, the Head of Loan Servicing will analyze and implement operational improvements and process efficiencies by leveraging available core system functionality and other existing technologies affecting the Loan Servicing teams and will sponsor and oversee key enhancements that promote increased support for various loan products and efficiency for end users.

The Head of Loan Servicing will actively participate on projects as a subject matter expert to increase adoption of new technologies to support continuous improvement in service level performance and will play an active role on the Commercial Strategic Advisory Council (FISERV) advocating for increased core functionality for commercial lending products.

Key Result Areas :

Oversee the management of the loan servicing for Commercial Lending and Residential & Consumer Lending; continuously analyze systems, process and programs to provide opportunities and advancements in providing exceptional service.

Ensure department adheres to all Service Level Agreements for loan boarding, funding, service requests, call answer rates and system maintenance.

Ensure high standards for data quality across all teams and work closely with key partners (Risk, Data Analytics) to support an effective data governance environment.

Monitor data quality on an ongoing basis through report review and investigate any anomalies and provide updates to data and process as needed.

Set challenging, but attainable, goals for the team - to maximize performance and align with the strategic objectives of the Bank.

Provide training, career development plans and direction as needed.

Continuously assess and evaluate servicing systems, technologies, and procedural requirements for the Lending areas; make recommendations to improve the operating efficiency of the department and implement accordingly.

Ensure all policies and procedures are up to date and reflect the most efficient and effective way to service internal and external customers.

• Oversee assessment and implementation of :
• Core system upgrades as well as hot fixes affecting Residential & Commercial Loan Servicing. Ensure systems are working effectively as expected, which includes coordinating the testing of Core releases and annual Disaster Recovery testing.

Document changes in accordance with the Change Management Policy

• Operational efficiency and process improvement recommendations from external departments and - based on borrower pain points.
• System tools (robotics process automation, business rules-based reporting, workflow management) to improve operational efficiency.

Remain informed of future enhancements on vendor road maps for Core and other ancillary platforms affecting lending and analyze processes for areas of improvement and automation.

• New product roll outs to increase borrower satisfaction.
• Sponsor, research, and troubleshoot business use cases for departmental functions working with SMEs and vendors to optimize technologies.
• Collaborate with other internal partners, including the Bank Operations and Business Solutions Teams, and vendors on implementing and enhancing products and services for - loan accounts.
• Monitor and continuously enhance key dashboard reporting for monitoring volumes, work distribution and measuring key service level agreements (SLAs) for all teams.

Work directly with the Data Analytics Team to leverage efficient visualization dashboards and other complex reports.

Perform additional duties as required.

Qualifications :

• College degree or 10+ years Banking experience.
• 10+ years management and leadership experience; 10+ years general loan servicing experience and 5+ years direct experience in commercial loan servicing.
• Strong management and leadership experience, and project management experience, and able to work independently, make independent judgements, as well as collaborate cross-functionally, and meet deadlines.
• Strong knowledge of residential & commercial loan and legal documents.
• Strong knowledge of the Bank's deposit & lending operations and products.
• Experience working with Core banking solutions vendors. FISERV DNA core a plus.
• Basic knowledge of banking regulations and compliance matters impacted by Dodd-Frank, RESPA, Reg B, Reg C, Reg Z, FDPA, AML / BSA / OFAC monitoring.
• Proficient using MS Office applications with the proven ability to learn new digital platforms.
• Strong interpersonal, organizational skills, and analytical skills.
• Knowledge of data visualization tools such as Tableau, Qlik, Power BI a plus.
• Strong attention to detail, business communication skills, as well as the ability to organize and write business documents.

The above description covers the most significant major responsibilities but does not exclude other occasional responsibilities and accountabilities the inclusion of which would be in conformity with the major purpose of this job.

Location :

Hybrid / Waltham, Massachusetts

About Cambridge Savings Bank :

Cambridge Savings Bank is a full-service banking institution with over $6 billion in assets. As a mutual bank, CSB is committed to improving the quality of life of our employees, customers, and the communities we serve.

One of the oldest and largest community banks in Massachusetts, Cambridge Savings Bank offers a full line of individual and business banking services across a robust Massachusetts-based branch network and through digital banking solutions for commercial, small business and consumer customers.

In March 2023, Kroll Bond Rating Agency affirmed CSB's investment-grade rating, reinforcing the bank's position as a reliable business lender.

To learn more about how CSB can meet your needs, visit us at cambridgesavings.com, or better yet, come meet us to help you make the most out of your banking relationship.

Member FDIC. Equal Housing Lender. NMLS # 543370

Cambridge Savings Bank is an equal opportunity employer, and all qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, disability status, protected veteran status, or any other characteristic protected by law.

We are a VEVRAA Federal Contractor.

LI-Hybrid