Senior Loan Servicing Officer

Job Title: Senior Loan Servicing Officer

Location: Based 2-3 days per week in the Hertfordshire Office. It is expected to be office based during the first few weeks for onboarding.

Salary: Confirmed on application

Hours: Monday to Friday 9 am to 5 pm

Benefits:

• 15% Contributory Pension (10% Employer, 5% Employee)
• 26 days holiday plus bank holidays, which increases with service
• Private Health Insurance
• Critical Illness Insurance
• Death in Service Insurance
• Income Protection
• Digital GP 24/7
• Dental Cover
• Health Assessments
• A day off for your birthday
• Generous maternity and paternity benefits
• Paid Carers leave
• Employee Assistance Programme
• Cycle2work Scheme
• Benefits Hub; large selection of employee discounts, rewards and perks across a number of brands, restaurants, holidays and “away” days.  

About our Client:

Our client is a specialist business bank on a mission to become the best in their category. Only launching less than 10 years ago, they have been recognised for their trusted products and innovation, winning 28 awards and counting.

With a focus on Equality, Diversity, and Inclusion, they’ve increased women in senior positions from 1 in 5 to 1 in 3. Following probation, our client offers varied training opportunities for you to grow and develop your skill set. Hard work does not go unnoticed as our client has a discretionary bonus scheme.

They throw events including a summer party, Christmas celebrations, and activities like sporting events and quiz nights for team bonding.

About the Role:

This is a newly created a position for a Senior Loan Servicing Officer to join the Operations team and manage 3-4 Loan Servicing Officers, who are carrying out the general servicing of the loan portfolio.

The successful candidate will ideally have knowledge of the financial services/lending sector and must have experience in monitoring and managing performance. We can also consider candidates who have gained experience in a Deputy Team Leader role, looking for the next step.

Responsibilities:

• Operationalise and drive the servicing and early arrears contact strategy.
• Provide outstanding support to customers and third parties through all communication channels, offering flexible team support during office hours, meeting demand, and responding within agreed SLAs, minimizing customer complaints and dissatisfaction.
• Manage the production and distribution of all servicing requests (e.g., statements, payments, direct debits, redemptions).
• Identify and proactively contact customers in early arrears (typically <30 days) in accordance with the Bank’s contact strategy.
• Develop internal controls to ensure key activities are completed and meet required standards.
• Lead frontline efforts to identify customers who may benefit from financial help and support.
• Specialize in identifying and supporting vulnerable customers, utilizing available tools and recording vulnerabilities according to categories/drivers (TEXAS).
• Provide early indications of accounts where arrears escalation may be unavoidable, collaborating closely with Collections Officers for a smooth transition to the Collections Team.
• Present the latest performance of the early arrears portfolio at the Arrears & Recoveries Meeting (ARM), as needed.
• Assist the Bank in monitoring relevant cases on the Bank’s Watchlist.
• Support the Senior Collections and Recoveries Manager in implementing changes within the Loan Admin Team, ensuring full understanding of the impacts on colleagues and customers.
• Inspire and develop Loan Admin Officers and the wider collections and recoveries team to foster a flexible, ‘can do’ culture that delivers exceptional customer service and support.
• Always meet and document the required standards for Anti Money Laundering, understanding requirements, obtaining and documenting supporting information, and knowing how to raise concerns.
• Recognize the risks posed to the Bank by customers with repeat arrears and how early action can prevent losses.
• Understand the collections process and how to minimize losses in recovery situations.
• Contribute to servicing and early arrears reporting, including regulatory, daily, monthly, and quarterly reports.
• Understand and support vulnerable lending customers, ensuring sympathetic management and accurate record-keeping.
• Adhere to customer conduct and TCF values at all times.

Experience required:

• A team player who can set clear, measurable goals that inspire and motivate
• Experience in managing/monitoring team performance and leading teams.
• Ability to set priorities and work productively and independently
• Experience within Financial Services.
• Understanding of lending to SME’s and Individuals across a range of sectors, and understanding of the key risks in lending to the Real Estate sector and how to mitigate them, is desirable.
• Experience in dealing with Solicitors and Insolvency Practitioners is advantageous.
• Understanding of and expertise in Treating Customers Fairly
• Understanding vulnerability
• Strong interpersonal and communication skills.
• Ability to multi-task and coordinate workload with colleagues.
• Extremely well organised, accurate, attention to detail and able to meet tight deadlines.
• Team player, flexible and adaptable.
• Proficient in the use of MS Office (Excel, Word, Outlook, PowerPoint)

For more information regarding the role of Senior Loan Servicing Officerplease contact us

Stellar Select is acting as an employment agency and is a corporate member of the REC