Senior Escrow & Insurance Administrator

Job Description

Job Description

This role is hybrid and requires 3 days a week onsite.

Job Summary: The Senior Escrow and Insurance Servicer is responsible for overseeing all aspects of quarterly escrow processing, including the timely execution of the annual escrow analysis and adherence to critical deadlines. This role also manages comprehensive insurance tracking, including PMI billing and payments, as well as hazard and flood insurance monitoring and billing to ensure accuracy and compliance.

Qualifications:

To perform this job successfully, the individual must be able and willing to perform all essential duties satisfactorily. The position responsibilities outlined here are in no way to be construed as all encompassing. Additional duties, responsibilities and qualifications may be required and/or assigned as necessary. Reasonable accommodations, as determined by management on a case-by-case basis, may be made to enable individuals with disabilities to perform essential duties.

ESSENTIAL DUTIES & RESPONSIBILITIES

• Oversee comprehensive tax and escrow processing, including quarterly escrow disbursements, lien payment processing, non-escrowed tax monitoring and delinquency reporting, and the timely execution of the annual escrow analysis in accordance with regulatory requirements and internal deadlines.
• Maintain strong working knowledge of applicable regulations, including Regulation X (RESPA) and Regulation Z (TILA), ensuring all escrow, tax, and insurance activities are compliant with federal guidelines and internal policies.
• Administer Private Mortgage Insurance (PMI) processes, including tracking, billing, and annual disclosure requirements; ensure adherence to regulatory requirements governing PMI cancellation, borrower notification timelines, and required correspondence cycles.
• Manage hazard and flood insurance portfolios, including ongoing tracking, exception monitoring, and premium billing to ensure continuous and compliant insurance coverage across the loan portfolio.
• Coordinate forced-placed insurance processes, including researching coverage gaps, initiating force-placement in accordance with regulatory requirements, and partnering with the Accounting Department to ensure accurate premium billing and reconciliation.
• Serve as a primary point of contact for borrowers and internal inquiries related to taxes, escrow, and insurance, delivering accurate, timely, and professional responses while ensuring a high level of customer service.
• Monitor and maintain tax servicing vendor platforms, ensuring data accuracy, timely updates, and proper tracking of tax obligations, delinquencies, and disbursements.
• Develop, maintain, and continuously enhance departmental procedures, ensuring documentation remains current, audit-ready, and aligned with regulatory expectations and operational best practices.
• Execute and validate the annual escrow analysis process, including payment recalculations, shortage/surplus handling, and borrower notification in compliance with regulatory timelines
• Support internal and external audit activities, including preparing documentation, responding to audit inquiries, and implementing corrective actions as needed.
• Provide backup support for loan payoff processing, ensuring accuracy and timeliness of payoff quotes and related transactions.
• Identify, investigate, and resolve customer issues related to escrow, tax, and insurance matters in a courteous, accurate, and efficient manner, escalating issues as appropriate.
• Collaborate cross-functionally with departments such as Accounting, Loan Operations, and Customer Service to ensure seamless servicing and issue resolution.
• Perform additional duties and special projects assigned to support departmental goals, operational efficiency, and continuous improvement initiatives.

JOB REQUIREMENTS

• Demonstrates strong written and verbal communication skills, with the ability to effectively interact with customers, attorneys, and internal staff in a clear, professional, and courteous manner.
• Exhibits adaptability and a positive approach to change, with the ability to effectively support and implement departmental and organizational initiatives.
• Thrives in a fast-paced environment, maintaining a high level of attention to detail, accuracy, and organization while managing multiple priorities.
• Proficient in Microsoft Office Suite, including Word, Excel, and Outlook, with the ability to leverage tools to support operational efficiency.
• Consistently upholds Needham Bank's Core Values, including a focus on customer relationships, collaboration, adaptability, community engagement, continuous learning, and integrity.

EDUCATION & EXPERIENCE

• 3-5+ years of experience in loan servicing within a post-closing environment, with a strong understanding of servicing operations, escrow administration, and loan documentation.
• High school diploma required; Associate degree or equivalent experience preferred, demonstrating a solid foundation in business, finance, or a related field.

WORKING CONDITIONS/PHYSICAL DEMANDS

• Normal business office environment

PAY RANGE: $25.73 - $33.45

The pay range provided is based on what we believe is a reasonable estimate for the pay range for this job at the time of posting. Actual pay may vary based on experience, skills, and market factors; additional compensation may apply.

Needham Bank offers a competitive salary and an amazing benefit package for a full-time employee which includes fully paid medical and dental insurance, HRA, 401(k) plan with an 8% bank match, paid time off (PTO), paid holidays, a bonus program, flexible spending accounts, vision service plan, group term life insurance, short and long term disability insurance, tuition reimbursement, and an Employee Assistance Program. We offer a great benefit package to our eligible part-time employees as well.

At NB, we are dedicated to building a diverse, inclusive and authentic workplace - if you are excited about this role, but your past experience doesn't align perfectly with every qualification in the job description, we still encourage you to apply. You may be just the right candidate for this or other roles.

Needham Bank is an Equal Opportunity/Affirmative Action Employer. Needham Bank will provide all applicants for employment and all employees with equal opportunity for employment and promotion regardless of race, color, religion, gender, national origin or ancestry, age, disability, veteran status, military service, sexual orientation, genetic information, or gender identity.