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Consumer Loan Servicing Escrow Officer

Rosemead, CA, USA Req #588
Wednesday, July 3, 2019

About Cathay Bank 
More than half a century ago, we opened our doors at Cathay Bank to serve the growing Chinese American community in Los Angeles. We helped our customers put down new roots with cars and homes, and we supported their businesses, which continue to sustain generations. We remain committed to enriching the journeys of our customers and the diverse communities we serve.

Over time, we’ve expanded along with our customers. Today, we’re a subsidiary of Cathay General Bancorp (NASDAQ: CATY), a publicly held bank holding company. We operate in nine states across the United States, including California, New York, Illinois, Washington, Texas, Maryland,Massachusetts, Nevada, and New Jersey, and we have outposts in Hong Kong, Beijing, Shanghai and Taipei. Forbes named us the #10 Best Bank in America in 2019.

Along with our extensive experience and innovative thinking, we bring an open mind to every interaction and a willingness to work with customers and communities in ways that best suit their needs. Our lines of business include personal banking, home mortgages, business banking, corporate lending, cash management, SBA loan programs, community lending, international banking, foreign exchange, and wealth management.

What’s Next

Are you passionate about a potential career in the financial services industry? Cathay Bank is excited about what’s to come for our company and customers. Our employees are the reason our customers can get where they want to go and aspire to what’s next.

If you bring your best self to work, see opportunities instead of obstacles, and always want to advance in your career, then Cathay Bank may be a great fit for you. We’re excited to offer our employees opportunities to grow and develop in their career journey. We also provide the resources, support and freedom so that employees can best deliver an extraordinary customer experience.

Join Cathay Bank—and be energized by what’s possible for your career!

GENERAL SUMMARY

Under the general direction of the VP or AVP, Loan Servicing Manager, responsible for ensuring that all aspects of Escrow Administration are performed in a timely and accurate manner while remaining compliant with established policies and procedures. The Escrow Officer is responsible for providing training, guidance, coaching and oversight to the Loan Servicing Staff.

DIRECT REPORTS

The incumbent typically has up to six (6) direct reports.

ESSENTIAL FUNCTIONS

1. Oversee Escrow Administration including insurance, taxes, escrow analysis, and escrow audits.
2. Ensure proper handling of insurance data integrity and disbursements, lender placed insurance, and loss draft claims.
3. Establish and maintain best practice operational processes to ensure all open items are being reviewed and paid timely and accurately.
4. Establish insurance vendor performance monitoring parameters. Oversee and monitor vendor performance and ensure all operational practices are reviewed and assessed.
5. Establish/update flood review standards and procedures for approval for Flood Requests on loans in Special Flood Hazard Area.
6. Ensure the department email inbox is reviewed and responded to daily
7. Ensure staff are assigned to promptly handle/respond to calls from the Call Center 
8. Review work completed by staff to ensure accuracy as this affects performance on monthly metrics and contractual service level agreements (SLAs). 
9. Ensure daily Quality Control call back activities are executed in a timely manner
10. Review daily general ledger reconciliations prepared by staff
11. Research and resolve more complex internal/external customer inquiries or discrepancies in insurance and escrow.
12. Facilitate department process improvements/operational enhancements to adapt to changing business needs.
 

13. Ensure compliance with RESPA, Homeowners Protection Act of 1998, Privacy Act and other regulatory acts as they may apply to servicing/escrow.
14. Create and update desktop procedures
15. Stay abreast of regulatory changes relating to taxes, insurances and flood.
16. Assist customers, both internal and external, with verbal and written questions, concerns and problems related to escrow administration and provide excellent customer service for all requests.
17. Assist with preparation of annual Performance Evaluations; rewarding, coaching, developing and holding employees accountable for performance/results.  
18. Assist in other areas of the servicing department as needed.

QUALIFICATIONS

Education
High school diploma or equivalent with some college business classes helpful.

Experience
3-5 years of loan servicing experience.  
Minimum of 2 years in a supervisory position in loan servicing. 
Thorough knowledge of Mortgage, Heloc/consumer loans products and servicing. 
Knowledge of state and federal banking regulations and procedures with regulatory requirements including but not limited to: CFPB, FCRA, HMDA, RESPA, Reg Z, SCRA, TILA, UDAAP, HOPA.

Skills/Ability
Self-motivated with ability to work independently and meet deadlines. 
PC proficient, advanced skill level with all MS Office products.
Strong written and verbal communication. 
Ability to work in a fast pace environment while maintaining a high level of accuracy.
Strong analytical and organizational skills. 
Must be able to manage workflow effectively with frequent interruptions and changing priorities. 
Sound understanding of loan accounting and servicing functions, and general lending policies and procedures. 
Experience with IBS Insight loan system a plus.

Cathay Bank is an equal opportunity employer. It is the Bank’s policy to provide equal employment opportunities to all qualified applicants. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or protected veteran status.

Cathay Bank endeavors to make www.CathayBank.com  accessible to any and all users.  If you would like to contact us regarding the accessibility of our website or need assistance completing the application process, please contact, Lori Burquez, VP, Sr. Employee Relations Manager, at (626) 279-3666 or lori.burquez@cathaybank.comThis contact information is for accommodation requests only and cannot be used to inquire about the status of applications.

 

Click here to view the EEO is the Law poster in English. Poster- English

Click here to view the EEO is the Law supplement in English.Supplement- English

 

Clic aquí para ver la EEO es la Ley póster en español. Poster- Spanish

Clic aquí para ver la EEO es la Ley suplemento en español.Supplement- Spanish

 

击这里查看EEO是法律海报的中文Poster- Chinese

击这里查看EEO是法律和补充條例的中文"Supplement- Chinese

Other details

  • Pay Type Salary
  • Rosemead, CA, USA