VP, Loan Servicing & Collections Manager

Title: VP Loan Servicing & Collections Manager

FLSA Status: Exempt Employment Status: Full Time

Department: Loan Servicing Location: Headquarters/Hybrid Eligible

Reports To: SVP Retail Lending & Loan Servicing

Date Prepared: July 30 2025 Human Resources Review: July 31 2025

SUMMARY:

The Loan Servicing Manager monitors and manages all aspects of Loan Servicing including but not limited to the servicing of residential consumer commercial and investor loan portfolios; development of department goals objectives and service level standards; management of the banks secondary market portfolios; oversight of all internal third-party and prudential regulator audits and examinations; and management of collections and loss mitigation activities for the bank. This position is responsible for maintaining all loan servicing policies and procedures and ensuring the Loan Servicing department is in compliance with required laws and regulations while operating efficiently.

Additionally it is expected that this position assists with projects that affect the department and the bank acts as a resource for other team members in the Loan Servicing department and embraces the established sales and service culture to maximize their contribution to the Banks goals.

After successful completion of training and proven abilities this position is eligible for a hybrid work arrangement with consistent availability expected during core business hours and agreed upon number of days per-week/month on site.

ESSENTIAL DUTIES and RESPONSIBILITIES:

The requirements listed are representative of the knowledge skill and/or ability required.

In the performance of respective tasks and duties the employee is expected to successfully perform quality work within deadlines with or without supervision interact professionally with other employees customers and suppliers; work effectively as a team contributor on all assignments and work independently while understanding the necessity for communicating and coordinating work efforts with other employees and organizations.

• Oversee all Loan Servicing operations to ensure quality assurance compliance and timely execution of tasks.
• Collaborate with other business units to provide servicing expertise and drive operational efficiencies across the bank.
• Maintain up-to-date knowledge of lending regulations including secondary market investor reporting FDICIA BSA and collections.
• Develop review and update policies and procedures to ensure regulatory compliance and operational effectiveness.
• Ensure accurate reconciliation and reporting of Loan Servicing general ledgers to Finance on schedule.
• Serve as the primary liaison for internal and external audits coordinating audit preparation review and remediation.
• Lead and participate in cross-functional projects and strategic initiatives.
• Oversee resolution of customer inquiries and escalated servicing issues ensuring timely and effective communication.
• Administer department-specific systems and external servicing portals.
• Apply risk management principles to all servicing functions including investor loans retained loans and collections.
• Manage vendor relationships and oversee the departments vendor management process including risk assessments and performance reviews.
• Champion a customer-first servicing culture and drive continuous service improvements.
• Evaluate and implement technology solutions to streamline workflows and enhance data integrity.
• Ensure accurate and timely reporting of servicing metrics and maintain data governance standards.
• Develop and maintain business continuity plans specific to Loan Servicing operations.
• Adheres to all company policies and acts as a role model in that capacity consistently demonstrating our core values and service standards including regular attendance and participation in community events.
• In the performance of respective tasks and duties the employee is expected to maintain knowledge of and ensure compliance with Bank Secrecy Act NMLS & SAFE Act and internal risk controls through training and adherence to policies.
• Regular and consistent attendance is required to continue the high standard of customer service as well as occasionally participating in before/after hours and/or weekend community events.
• Other duties as assigned performing similar or related work as directed required or as situation dictates.

SUPERVISORY RESPONSIBILITIES:

In alignment with our Core Values and Lean Principles direct staff according to business needs and established goals/objectives that are aligned with the Strategic Plan.

• Build and lead a high-performing Loan Servicing team through direct supervision mentoring cross-training and performance management.
• Establish departmental goals and objectives monitor progress and measure performance against key metrics.
• Identify and develop high-potential team members supporting succession planning and career advancement.
• Foster an inclusive collaborative work environment that values individual strengths encourages innovation and supports change.
• Oversee daily operations and ensure timely accurate task completion aligned with business needs and departmental priorities.
• Monitor and enhance departmental procedures to improve productivity and efficiency communicating changes to all stakeholders.
• Provide training and guidance on new and existing processes to ensure team proficiency and consistency.
• Manage multiple complex priorities while maintaining a strong focus on achieving departmental results.
• Promote and reinforce the organizations culture vision and strategic direction through leadership and example.
• Monitors and ensures approval of bi-weekly timecards reviews and approves time off requests for all members of the team always ensuring adequate coverage within the department.
• Completes timely checkpoints recommends employment decisions coaches counsels disciplines and develops staff as necessary.

LEVEL OF RESPONSIBILITY:

• This position interacts independently under limited supervision with members of the community along all staff levels and with complex and proprietary information.
• Work is non-routine complex and analytical relying on prior directly related experience. Policies procedures and programs adhered to are prescribed by the bank and State and Federal Regulators.
• The position is relied upon to provide subject matter content within the organization influencing as a subject matter expert.
• Participates in developing and executing change management and contributes to the strategic alignment impacting to the critical goals of the Bank.
  
  

SKILLS REQUIRED:

• BA/BS in Business or equivalent banking related work experience with in-depth knowledge of residential consumer and commercial loan servicing regulations policies and procedures including collections and loss mitigation.
• Progressive leadership experience managing a department with a large servicing portfolio.
• General Ledger Reconciliation:Ability to ensure accurate and timely reporting to Finance.
• Loan Servicing Operations: Deep understanding of residential consumer commercial and investor loan servicing workflows.
• Experience with selling and servicing loans to the secondary market.
• Audit & Risk Management: Experience coordinating internal/external audits managing risk assessments and implementing remediation plans.
• A thorough knowledge of all federal and state lending regulations including but not limited to RESPA Truth in Lending Equal Credit Opportunity Act Fair Debt Collection Practices Act Homeowners Protection Act National Flood Insurance Program Fair Credit Reporting ActFACT Act and the SAFE Act as they relate to servicing functions.
• Working knowledge of COCC Insight and/or Fiserv DNA strongly preferred.
• Intermediate to advanced level of proficiency in Microsoft 365 Suite products including but not limited to Excel Word Outlook Power Point Teams and Sharepoint.
• Be or be eligible to register and maintain a valid Mortgage Loan Originator Identifier Number issued through the National Mortgage Licensing System and Registry (NMLS&R)
• Solid understanding and application of administration activities with an understanding of office procedures and ability to operate standard office equipment.
• Means and mode to travel to any of Main Street Banks locations as needed.

EQUIPMENT REQUIRED:

• Smart Phone To enable the MFA (Multi Factor Authentication) facilitating access to MSB systems.

HYBRID ENVIRONMENT:

• Your physical remote workspace must provide a dedicated workspace that is free from distraction and provides adequate light to be regularly visible on video calls.
• You must have access to a reliable internet connection with adequate bandwidth to join Teams and other video calls with no degraded quality.

COMPETENCIES:

• Leadership/People Management
  • Natural leader with positive communication (written & verbal) and well-developed interpersonal skills ethics and cultural awareness with the ability to motivate.
• Collaborative self-starter strategic thinker and seasoned problem solver
• Process Management
  • Strong organizational planning and time management skills
• Advanced independent critical thinking and problem-solving skills to be able to navigate complex situations and drive efficient effective and timely solutions that meet the needs of all stakeholders.
• Relationship Builder
  • Develops and maintains relationships with officers employees and external contacts and maintains alignment with core values vision strategy and goals.
• Project Management
• Ability to multi- task organize work independently accomplish tasks and meet deadlines despite frequent interruptions in a fast-paced environment while maintaining attention to detail.
• Decision-maker
• Goal-driven and solution-oriented
• Detail-oriented with the ability to balance a high number of competing projects and related tasks across all departments.

LANGUAGE/COGNITIVE SKILLS:

The work skills described here are representative of those that must be met by an employee to successfully perform the essential functions of this job.

The person in this position frequently communicates with all departments Directors Officers and customers about banking products and services and therefore must be able to exchange accurate information in these cases. They will need to use judgment and discretion in decision making situations interpret and follow all Bank policies and procedures write/create reports and business correspondence (Main Street Banks standard language is English). As well as the ability to:

Speak and effectively present/communicate information and respond to questions from customers groups of managers Board of Directors vendors and other employees.

• Define problems collect data establish facts and draw valid conclusions.
• Read analyze and interpret a variety of documents such as disclosures contracts Federal & State Regulations Legislation and Bank policies and procedures.

WORKING CONDITIONS AND PHYSICAL EFFORT:

The physical and work environment demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job.

While performing the duties of this job the employee is required to:

Physical Demands/Efforts

• Occasionally lift and/or move up to 25 pounds (i.e. files boxes of files)
• Regularly required to remain in a stationary position greater than 50% of the time
• Occasionally required to stoop and bend.

Mental & Visual Demands

• Consistently operate a computer for extended periods of time
• Specific vision abilities may be required by this job include close vision distance vision peripheral vision depth perception and ability to adjust focus.
• Regular use of office productivity machinery (i.e. a calculator copy machine fax machine computer printer).

Work Environment and Hazards

• Occasionally move throughout the inside the Bank to access resources and individuals.
• Occasional local travel for bank purposes and/or on behalf of the bank (i.e. inspections trainings community events).
• The employee must be able to work schedules that meet the needs of the bank which may include early morning evening and/or weekend hours.
• It is a general office environment where the noise level is moderate.

AMERICANS WITH DISABILITIES ACT

Main Street Bank complies with all aspects of the Americans with Disabilities Act (ADA) and state disability laws. This means that we will not discriminate against qualified individuals with a disability in any phase of the employment relationship including application for employment hiring promotions and/or advancement opportunities termination compensation training and any other conditions or privileges of employment.

The completion of this Application for Employment does not assure a position with Main Street Bank and any offer of employment is conditioned on the satisfactory completion of a background and credit review as determined by the sole discretion of Main Street this Application for Employment nor any document constitutes a contract of employment for a specific term and that any employment relationship that may be established will be at-will and if hired may be terminated at any time for any reason by the applicant or Main Street Bank.

Massachusetts Law - It is unlawful in Massachusetts to require or administer a lie detector test as a condition of employment or continued employment. An employer who violates this law shall be subject to criminal penalties and civil liability.

Massachusetts General Laws c. 151B prohibits employers from (1) terminating or refusing to hire individuals on the basis of genetic information; (2) requesting genetic information concerning employees applicants or their family members; (3) attempting to induce individuals to undergo genetic tests or otherwise disclose genetic information; (4) using genetic information in any way that affects the terms and conditions of an individuals employment; or (5) seeking receiving or maintaining genetic information for any non-medical purpose.

Main Street Bank is an Equal Opportunity Employer.All qualified applicants will receive consideration for employment without regard to race color religion sex sexual orientation gender identity national origin age pregnancy genetic information disability status as a protected veteran or any other protected category under applicable federal state and local laws.

Main Street Bank is committed to working with and providing reasonable accommodation to individuals with disabilities. If you need special assistance or an accommodation while seeking employment please call: or send an email to and we will make determination on your request for reasonable accommodation on a case-by-case basis.