Operations Specialist II

PURPOSE/OBJECTIVE:

The purpose of the Operations Specialist II role is to perform and oversee complex loan operations functions with a high degree of accuracy, control awareness, and end-to-end process ownership. This role builds upon core processing proficiency to include advanced exception handling, quality control activities, and subject matter expertise across loan products and operational processes.

The Specialist II is responsible for supporting operational integrity through control execution, issue resolution, and participation in audit, compliance, and process improvement initiatives. This role operates with increased independence and is expected to support team production, provide guidance to peers, and contribute to continuous improvement efforts across Loan Operations. This position operates in a hybrid work environment with onsite presence 2-3 times weekly in the Brockton or Wakefield office locations.

RESPONSIBILITIES:

Loan Processing & Transaction Execution:

• Perform advanced loan servicing and transactional processing including payments, reversals, paydowns, payoffs, advances, and fee assessments
• Process new loan bookings, modifications, renewals, extensions, and maintenance across portfolios
• Execute escrow administration including tax and insurance disbursements and escrow analysis
• Reconcile loan operational accounts and perform detailed reconciliation activities/recons

Exception Management & Issue Resolution:

• Investigate and resolve complex transaction issues and processing exceptions.
• Research and resolve GL variances, complaints, and operational discrepancies.
• Identify reconciliation breaks and resolve recon variances

Quality Control, Compliance & Risk Management:

• Execute control testing, compliance testing, and quality control reviews.
• Ensure adherence to internal controls, SOPs, and regulatory requirements
• Participate in audit activities and remediation efforts

Specialized Focus Areas:

• Investor reporting and remittance processing
• Participation and syndication processing
• Interest rate changes and loan adjustments
• Flood insurance administration and monitoring
• Prepare and deliver recurring ad hoc reports

Operational Support & Leadership:

• Provide guidance to peers and assist with training
• Support workflow coordination and production deadlines
• Perform additional loan operations functions as needed

Process Improvement & Projects:

• Participate in process improvement initiatives and projects
• Contribute to SOP development and updates

REQUIREMENTS:

Education and Experience

• Education - High School Education, BS/BA or equivalent work experience.

Success Factors

• Ability to prioritize and manage competing deadlines
• Strong understanding of loan products and processes
• Ability to resolve complex operational issues
• Knowledge of internal controls and compliance standards
• Strong communication skills and attention to detail

Bonus Qualifications:

• Core banking system experience
• Exposure to investor reporting or complex loan structures

PHYSICAL DEMANDS:

While performing the duties of this job, the employee must be able to remain in a stationary position 50% of the time. The employee frequently is required to operate a computer and other office productivity machinery, such as a calculator, copy machine, and printer. The employee is occasionally required to move about inside the office to access file cabinets, office machinery, etc. They also occasionally travel to locations outside of the facility, to attend meetings, trainings, events, and other business activities. The employee occasionally positions self to maintain or access files in file cabinets. The employee must have the ability to communicate information and ideas so others will understand. Must be able to exchange accurate information in these situations. The employee frequently observes details at close range (within a few feet of the observer). The employee must occasionally lift and/or move boxes or equipment up to 20 pounds across office for various needs.

WORK ENVIRONMENT:

Persons holding this position are generally subject to inside environmental conditions having the lighting, temperature, and noise level of an open floor-plan office environment (moderate, but occasionally loud at times). This role routinely uses standard office equipment such as computers, phones, photocopiers, and filing cabinets.

At Eastern Bank, we pride ourselves on supporting our employees by offering tremendous opportunity for individual growth. As an inclusive company, we work to ensure that our valued employees are treated fairly, recognized for their individuality, and encouraged to reach their fullest potential. These values have earned us a reputation as a great place to work and provide a strong reason why you should consider a career with us. We are proud to offer comprehensive compensation plans and a benefits program called Total Rewards that includes medical, dental, vision, life and disability insurance, retirement, vacation and tuition reimbursement.

Eastern Bank is an equal opportunity employer. All job applicants will be considered for employment without regard to race, color, religious creed, national origin, sex, sexual orientation, gender identity, genetic information, military service, age, ancestry, or disability.

At Eastern Bank, we are dedicated to building a diverse, equitable, inclusive and authentic workplace. If you're excited about this role but your experience doesn't fully align with every qualification, we still encourage you to apply! You may be just the right candidate for this position or others across the company. Our Recruitment team is waiting to chat with YOU.