Escrow Coordinator

Escrow Coordinator

We are seeking a meticulous and analytical individual to join our team as an Escrow Coordinator. The ideal candidate will have a keen eye for detail, exceptional analytical skills, and a thorough understanding of escrow loan servicing processes, particularly in handling high-risk accounts. As the main human quality control, you will play a critical role in ensuring accurate payments and mitigating risks associated with loan servicing. The qualifications and responsibilities align with supporting the Escrow Leadership team and contributing to process improvement within the Escrow Operations department.

Job Duties and Responsibilities

Research and Quality Oversight (60%)

• Quality Evaluation: Serve as the primary point of contact for human quality control, ensuring all loan payments are processed accurately and in compliance with company policies and regulatory requirements.
• Payment Accuracy Analysis: Analyze payment data and account transactions to identify discrepancies, errors, or irregularities. Investigate root causes and implement corrective actions to prevent recurrence.
• Decision Making: Make informed decisions regarding payment processing, including adjustments, corrections, and exceptions handling. Exercise judgment to resolve complex issues and escalate matters as necessary.
• Documentation and Reporting: Maintain comprehensive documentation of quality control activities, payment discrepancies, and resolution outcomes.

Client/Escalation Support (20%)

• Investigate: Conduct a thorough investigation into the root cause of the escalation. Review relevant documents, data, and procedures to understand what went wrong and why.
• Resolution Plan: Develop a detailed plan to address the escalation. This may involve implementing temporary fixes to mitigate immediate risks and developing long-term solutions to prevent recurrence. If necessary, escalate the issue further within the organization or to external stakeholders, such as regulatory agencies or legal authorities, if standard resolution procedures prove insufficient.
• Proactively address inquiries, rectify errors, and reconcile discrepancies to uphold accuracy and quality standards, fostering trust and satisfaction among stakeholders.
• Maintain a high level of accessibility and responsiveness across communication channels, including email, phone, and messaging platforms, to promptly address inquiries, facilitate collaboration, and ensure smooth workflow.
• Demonstrate flexibility and adaptability by undertaking additional responsibilities and tasks as assigned, contributing to the overall success and cohesion of the department and organization.

Other Workload Support (20%)

• Act as a mentor and resource for colleagues within the Escrow Operations Department, providing guidance, training, and support to facilitate their professional growth and enhance team performance.
• Strive to consistently meet or exceed productivity goals, demonstrating commitment to excellence and contributing to the overall success of the department and organization.
• Identify discrepancies and opportunities for improvement in client loan data processing and insurance data processing, communicating findings to management and collaborating on solutions to drive operational excellence.
• May take the lead on special projects assigned by supervisors, leveraging expertise in Escrow Operations to drive efficiency and effectiveness.
• Innovate and implement actionable strategies to streamline processes and optimize outcomes, leveraging sophisticated data analysis techniques to drive continuous improvement and maximize efficiency.
• Proactively assist team members with their workload, demonstrating a collaborative spirit and willingness to pitch in where needed to ensure smooth operations and timely completion of tasks.
• Perform other assigned duties.

Qualifications (Education, Experience, Certifications & KSA)

• High School Diploma or GED required.
• Bachelor's degree, Associate's degree, or Vocational/Technical School training/degree preferred
• 2-3 years of directly related experience required.
• Analytical Skills: Possess strong analytical abilities for thorough review and analysis of loan files and data, enabling accurate assessment and decision-making.
• Communication Skills: Demonstrate excellent verbal and written communication skills for effectively presenting findings, articulating solutions, and resolving issues with clarity and professionalism.
• Attention to Detail: Exhibit a keen attention to detail and a commitment to accuracy in verifying and updating information, ensuring data integrity and compliance with established standards.
• Independence and Initiative: Display the ability to work independently with minimal supervision, taking initiative to address tasks and challenges proactively while adhering to deadlines and quality standards.
• Computer Proficiency: Showcase proficiency in using computer systems and conducting web inquiries, leveraging technological tools to enhance efficiency and productivity in daily tasks.
• Regulatory Knowledge: Possess a solid understanding of escrow servicing regulations and compliance requirements, ensuring adherence to legal and industry standards in all operations.
• Mentorship Skills: Demonstrate the ability to mentor and support team members, sharing knowledge, providing guidance, and fostering a collaborative and supportive team environment to promote individual and collective success.

The above statements are intended to describe the general nature and level of work being performed by people assigned to this job. They are not intended to be an exhaustive list of all responsibilities, skills, efforts or working conditions associated with a job.