Loan Servicing Team Lead (Indirect Lending)

Job Description

Job Description

Who We Are

At Old Second, you're first! For more than 150 years, Old Second has consistently put businesses and individuals throughout the Chicago area first, and we're only getting started.

With great employees we've grown from a single location in the back of a general store to 50 locations and over $6 billion dollars in assets. At Old Second we embrace values that foster an environment of community and growth. Recently, we've been voted a Forbes Best-In-State Bank for Illinois by our customers. Be a part of something big as we continue our growth story together!

Position Overview
The Loan Servicing Team Lead-Indirect Lending is responsible for overseeing and supporting the daily servicing activities for consumer loans originated through indirect lending channels. This role supports loan maintenance, new loan boarding, payment processing, disbursements, payoff processing, tax and insurance processing, and other loan servicing functions.

The Team Lead serves as a subject matter expert for loan servicing processes and systems, provides guidance and training to team members, supports operational efficiency, and ensures work is completed accurately, timely, and in compliance with bank policies, procedures, and regulatory requirements.

Essential Job Functions
• Provide responsive and professional customer service to external loan customers by phone, email, or other communication channels.
• Serve as an internal resource for loan servicing questions, process guidance, and issue resolution.
• Board new consumer and indirect loans into the core loan system accurately and timely.
• Process loan payments, advances, adjustments, and other account transactions.
• Prepare consumer loan payoff statements and support payoff processing.
• Process file maintenance requests related to consumer loan servicing.
• Monitor and track expiring insurance coverage for consumer loan collateral.
• Prepare and process lien releases, title releases, and collateral release documentation for paid loans.
• Monitor, track, and maintain collateral, title, and insurance documentation.
• Research and clear loan-related exception items, including non-posted transactions.
• Review loan servicing activity to ensure accuracy, completeness, and compliance with internal controls.
• Maintain a strong understanding of applicable policies, procedures, lending regulations, and compliance requirements.
• Identify process improvement opportunities and escalate operational issues as needed.
• Support audits, quality control reviews, reporting requests, and special projects as assigned.
• Perform other loan servicing duties as assigned by management.

Additional Responsibilities – Team Lead
• Lead, guide, and support daily workflow for the loan servicing team.
• Serve as the primary point of contact for team members regarding work-related questions, escalations, and process clarification.
• Train and coach employees on loan servicing procedures, system functionality, and departmental standards.
• Act as a subject matter expert on the bank's core loan processing system and other platforms used for consumer and indirect loan servicing.
• Assist with workload distribution, prioritization, and monitoring of daily production.
• Participate in the development and maintenance of procedures related to loan boarding, servicing, collateral tracking, and payoff processing.
• Support the implementation of new products, regulatory updates, system enhancements, and technology changes.
• Partner with management to improve efficiency, reduce risk, and maintain strong operational controls.

Minimum Requirements
• High school diploma and three years or more of commercial and/or consumer loan servicing experience, or related area; or equivalent combination of education and experience.

Competencies
• Proficiency in Microsoft Outlook, Word, Excel.
• Strong organizational skills with the ability to manage multiple priorities and deadlines.
• Excellent verbal and written communications skills.
• Strong problem-solving, analytical, and critical thinking skills.

Preferred, but not required
• Bachelor's degree a plus.
• Experience with Jack Henry or similar core banking/loan servicing systems preferred.
• Previous team lead or leadership experience preferred.

Location Details

This position requires the incumbent to work onsite on a daily basis to perform the regular responsibilities of the role.

Compensation & Benefits

Base pay: $24.85-$32.25/hour

Old Second is committed to fair and equitable pay practices. Pay is dependent upon the pay range and the incumbent's knowledge, skills and experience.

Benefits: How We Support You - Old Second

Thanks for considering Old Second!