Commercial Loan Servicing Representative Job Description

A Commercial Loan Servicing Representative manages and maintains the accounts of commercial loan clients, ensuring all loan activities are properly recorded and processed. They handle inquiries regarding loan balances, payments, and account information. Additionally, they may negotiate and restructure loan terms, collect on delinquent accounts, and facilitate loan modifications. Their primary goal is to ensure a positive customer experience while mitigating risk to the lending institution.

This Commercial Loan Servicing Representative job description is good for hiring your perfect candidate as it clearly outlines the key responsibilities of the position and the necessary skills and qualifications required. It also notes the important role the representative plays in ensuring a positive customer experience while mitigating risk to the lending institution. 

To customize this job description, you can modify the specific requirements or qualifications needed to fit the needs of your organization. For example, if your organization operates in a specific industry, you may want to include industry-specific experience or knowledge as a requirement. Additionally, you may want to adjust the job responsibilities to fit the specific needs of your loan servicing department.

Job Description Brief :

We are seeking a highly qualified Commercial Loan Servicing Representative to manage and maintain the accounts of our commercial loan clients. The successful candidate will be responsible for ensuring all loan activities are properly recorded and processed, managing inquiries regarding loan balances, payments, and account information, and negotiating and restructuring loan terms. They should be able to collect on delinquent accounts, facilitate loan modifications, and ensure optimal customer experience while mitigating risk to the lending institution.

Key Responsibilities :

  • Manage and maintain commercial loan client accounts
  • Ensure all loan activities are properly recorded and processed
  • Handle inquiries regarding loan balances, payments, and account information
  • Negotiate and restructure loan terms
  • Collect on delinquent accounts and facilitate loan modifications
  • Ensure optimal customer experience while mitigating risk to the lending institution
  • Identify and report any potential risks or issues with loan accounts
  • Assist with special projects and initiatives as needed
  • Maintain a high level of accuracy and attention to detail
  • Communicate effectively with colleagues and clients

Required Qualifications and Skills :

  • Bachelor’s degree in finance, accounting, or a related field preferred
  • 2+ years of experience in commercial loan servicing or related field
  • Strong knowledge of banking and finance regulations and principles
  • Excellent communication and customer service skills
  • Ability to work independently and within a team environment
  • Excellent problem-solving and analytical skills
  • Strong computer skills, including proficiency in Excel and loan servicing software
  • High level of accuracy and attention to detail
  • Understanding of financial reports and statements

Education and Experience Requirements :

  • Bachelor’s Degree in finance, accounting, or related field preferred
  • 2+ years of experience in commercial loan servicing or related field

Physical Requirements (if applicable) :

  • Ability to work in an office environment for extended periods

Work Schedule and Conditions (if applicable) :

Work schedule of weekdays, Monday through Friday, 9 am-5 pm. Occasionally, early morning or late evening work may be required to meet specific project deadlines. The successful candidate must also be willing to work in a high-pressure environment that involves meeting tight deadlines while maintaining a high level of accuracy.

Compensation and Benefits :

Compensation will be commensurate with experience and qualifications. We also offer a comprehensive benefits package that includes health insurance, paid time off, and retirement savings plans.

Company Culture and Values :

Our company values teamwork, excellence, integrity, and a passion for helping our clients succeed. We strive to maintain a dynamic and diverse workplace that fosters creativity, innovation, and open communication.

Career Advancement Opportunities :

Our company values career growth and encourages employees to pursue professional development opportunities. We offer ongoing training and development programs, as well as opportunities for advancement within the organization.

Application Process and Contact Information :

Interested candidates should submit a cover letter and resume to [insert email address/contact information]. We are committed to creating a diverse and inclusive workplace and strongly encourage individuals from underrepresented groups to apply.

Frequently Asked Questions

Q1. What does a Commercial Loan Servicing Representative do?

A Commercial Loan Servicing Representative manages and maintains commercial loan client accounts and ensures all loan activities are properly recorded and processed. They handle inquiries regarding loan balances, payments, and account information, negotiate and restructure loan terms, collect on delinquent accounts, and facilitate loan modifications while mitigating risk to the lending institution.

Q2. What is the education requirement for a Commercial Loan Servicing Representative?

A Bachelor’s degree in finance, accounting, or a related field is preferred.

Q3. What experience is required to become a Commercial Loan Servicing Representative?

2+ years of experience in commercial loan servicing or a related field is required.

Q4. What skills are needed to become a Commercial Loan Servicing Representative?

Excellent communication and customer service skills, strong problem-solving and analytical skills, a high level of accuracy and attention to detail, strong computer skills including proficiency in Excel and loan servicing software, and an understanding of financial reports and statements are the required skills.

Q5. What is the work schedule for a Commercial Loan Servicing Representative?

The job typically requires a weekday work schedule, Monday through Friday, 9 am-5 pm. Occasionally, early morning or late evening work may be required to meet specific project deadlines.

Q6. What are the physical requirements for the job?

Working in an office environment is the primary physical requirement for this job.

Q7. What are the career advancement opportunities like for a Commercial Loan Servicing Representative?

Our company values career growth and encourages employees to pursue professional development opportunities. We offer ongoing training and development programs, as well as opportunities for advancement within the organization.

Q8. What is the average salary of a Commercial Loan Servicing Representative?

The salary varies based on experience and qualifications but it is typically commensurate with industry standards.

Q9. What is the company culture like for a Commercial Loan Servicing Representative?

We value teamwork, excellence, integrity, and a passion for helping our clients succeed. We strive to maintain a dynamic and diverse workplace that fosters creativity, innovation, and open communication.

Q10. What is the application process for becoming a Commercial Loan Servicing Representative?

Interested candidates should submit a cover letter and resume to the email address/contact information provided in the job posting. We are committed to creating a diverse and inclusive workplace and strongly encourage individuals from underrepresented groups to apply.

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