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Senior Escrow Operations Specialist
Flagstar Bancorp
Troy, MI, United States
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Position Title Senior Escrow Operations Specialist
Location Headquarters-Troy, MI
Job Summary This role will perform diversified functions that require decision making and problem solving with minimal direction. Responsibilities include but are not limited to performing escrow analysis, responding to customer service requests, processing insurance/tax vendor requests, processing and working exception reports, collaborating with default servicing, processing PMI fee waiver requests and working various PMI reports as well as other duties assigned. The Escrow Operations Senior Specialist will be knowledgeable regarding all processing of escrow accounts and will have a full knowledge of all Tax, Insurance or PMI processes and will be expected to maintain flexibility to train on other areas in Escrow Operations as needed. The Escrow Operations Senior Specialist must ensure department guidelines are being met, and executes policies and procedures to ensure agency guidelines and compliance requirements are met without posing risk to the bank. This position is also able to take on more responsibility outside of the Escrow Operations Specialist role. This role is able to fill in for Escrow Operations Team Leader and respond to escalated requests from Office of the President or other lines of business.
Job Responsibilities:
50% of time: Data Processing
• Processing MSP tasks sent by customer service, vendors and internal team requests
• Review Reports and ensure timeliness of reviews
• Maintain and monitor department shared email inbox and respond to requests as needed
• Utilize systems for Insurance Vendor, Tax Vendor, IDM, MSP, Crystal reports, and other resources as needed in order to fully review and execute tasks as needed
10% of time: Compliance/Bank training and job knowledge management
• Complete all assigned LMS courses as needed before expected due dates
• Stay updated on all department updates/changes to processes and procedures as well as bank wide initiatives that directly/indirectly impact Escrow Operations
• Participate in necessary webinars and job related training that are a direct result of management request
• Completing all work with a high level of quality to ensure adherence to compliance and regulatory requirements
20% of time: Process Improvement and Projects as assigned
• Recommend process improvements that can aid in the improvement of efficiency and quality within Escrow Operations
• Identify areas in which the Escrow Operations department can be more successful with cost saving initiatives
• Participate in projects outside of general day to day duties and partner with other departments
10% of time: Leadership Functions
• Assist the supervisor with items related to training and onboarding new employees
• Take active part within Black Knight monthly meetings and implement ideas into Escrow Department
• Perform peer coaching as needed for Escrow Operations specialists
• Fill in where needed for Escrow Operations Team Leader
10% of time: Personal Growth and development
• Engage with supervisor regarding personal development monthly and take ownership of key performance items
• Create and maintain personal development plan and have continued conversations with management regarding opportunity for growth in Escrow Operations department
Job Requirements:
• HS Diploma, GED or Foreign Equivalent
• Experience with MSP Preferred
• Experience with wire handling Preferred
• At least 4 years of direct experience in Mortgage Servicing or Customer Service role focused on Mortgages
• Specific experience with Insurance, Tax, Escrow and/or PMI processing is preferred
• Intermediate working knowledge of Microsoft Excel (Ability to create pivot tables, utilize VLOOKUP function, create formulas, analyze data, etc.)
• Analytical and problem solving capability
• Ability to meet deadlines
• Demonstrated customer service oriented focus
• Ability to work quickly and multi-task through various work items
• Leadership experience
• Proven ability to coach others
• The job requires a moderate degree of physical exertion and stamina such as standing, sitting, walking, driving or infrequent lifting.
Internal use only: Band I-hrly