Equipment Finance Servicing Specialist I

Job Summary

The Equipment Finance Servicing Specialist I is primarily responsible for the operational and contract servicing activities of equipment loans and leases.  The incumbent will execute critical processes ensuring data accuracy in the core operating system for all contract entries and system changes.

 The incumbent is also responsible for all customer service activities and efficient ongoing contract servicing functions while delivering a positive customer experience.

Key Responsibilities / Essential Functions

Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.



* Ensure that all loan, lease and collateral information is accurate and complete, correcting data when necessary.


* Respond to inquiries related to the general servicing of a loan or lease contract.

This might include, but is not limited to, payment processing, history interpretation, year-end reporting, lien and title releases, address changes, fraud inquiries, billing questions, insurance/claims, draft processing, quoting loan payoffs, etc.


* Work with various vendors and internal tracking systems to mitigate risk by accurately tracking contract details.


* Monitor incoming payments and payoffs and process as necessary.


* Process contract maintenance as necessary, including but not limited to credit, customer-facing and reporting data points.


* Provide superior customer service to all internal and external customers.


* Ensure adherence to all regulatory and compliance policies and procedures.


* Ensure balance and payment data points are accurate and agree with supporting documentation.


* Monitor and process Uniform Commercial Code (UCC) filings including continuations and cancellations.


* Monitor insurance reporting to ensure all collateral records are properly insured.

Take appropriate action required to obtain acceptable insurance policies.


* Work with insurance companies to correct impaired policies and process any claims including those related to a total loss.


* Monitor title and lien reporting and take appropriate action to ensure the Bank’s security interest is present on all collateral records.


* Assist in all areas of the equipment finance invoicing, payment processing, ACH and wires, customer service, and all other facets of the transaction from booking to the conclusion.


* Adapt to changes in the work environment which may include delays and unexpected events.


* Contribute to building a positive team environment.


* Maintain confidentiality and security of sensitive information.


* Adhere to all corporate policies and procedures, Federal and State regulations, and laws.


* Complete all mandatory annual compliance training.


* Follow regulatory requirements including those pertaining to the Bank Secrecy Act (BSA), Anti-Money Laundering (AML), Customer Identification Program (CIP), and OFAC to assist in the i...