Loan Servicing Specialist I - Monetary Payment Processing

Responsibilities

Payment & Transaction Processing

• Review and resolve payment overages, payoff shortages, and payment application discrepancies.
• Properly identify non-customer payments including reserve recordings and third-party remittances.
• Apply recovery payments including total loss processing and payoff-related transactions.

Refunds & Adjustments

• Facilitate aftermarket refund application and reconciliation.
• Ensure accurate posting and documentation of customer refunds.
• Create loan adjustments within allowed limits.

Check Processing

• Assist in inbound physical check intake and deposit preparation.
• Perform batching, deposit operations, and check imaging.
• Correctly document information for outgoing checks, and resolve pending check exceptions.

Payment Exception Handling

• Investigate unresolved payment items.
• Maintain documentation supporting payments and adjustments.
• Process intake and application of payments with timeliness, in alignment with internal and external deadlines.

Operational Controls

• Ensure loan and other system updates related to payment posting are accurate.
• Maintain compliance with payment handling procedures and policies.
• Compliant mail handling for security and confidentiality.

Requirements

• 1-5 years of experience in a payment processing, accounting, lending, or customer service-oriented role preferred.
• Background with check, cash, or payment handling is strongly preferred.
• Strong understanding of Lockbox functions is strongly preferred.
• Experience in consumer, secured, and/or retail installment loans preferred.
• Experience in payments or customer transactions preferred.
• Experience with workflows and adapting to changing volume.
• Associates+ degree, or some college credit, preferred but not required.
• Accuracy and attention to detail.
• Proficient in Microsoft Office Suite (Word and Excel) and or Google Workspace i.e., G-Suite (Docs & Sheets).
• Experience with DocuSign, Lockbox, or LMS preferred.
• Experience with payment reconciliations is preferred.

Benefits

• Robust Health Care Plans (Medical, Dental & Vision)
• Up to 20 Days PTO (Accrued)
• Generous Parental Leave
• Retirement Plan (401k with Company Match)
• Educational Assistance/Tuition Reimbursement up to $3K/year
• Recreational Safety Benefit
• Wellhub (Gympass) Wellness Benefit