VP Senior Loan Operations Officer

Boston, MA

East Boston Savings Bank has retained Smith & Wilkinson on a search for a VP Senior Loan Operations Officer.  While reporting to the SVP Operations, this person will direct all functions of the Bank’s Loan Operations Department.  

Core Responsibilities

  • Direct all aspects of servicing the Bank’s portfolio and servicing-retained sold loans.
  • Establish and maintain procedures for these functions, and recommend and implement applicable policies to ensure regulatory compliance and safety and soundness.
  • Provide for efficient and high quality service to external and internal customers through deliver of person-to-person customer service as well as active and strategic support of lending business lines.
  • Recommend and administer personnel actions within the department, including performance evaluation, hiring promotion, transfer and separation.  Provide for the training and professional development of the staff, and foster a professional and congenial work environment.
  • Provide for post-closing audit of loans.
  • Ensure priority of mortgage liens by directing tax escrow processing as implemented by the Tax Escrow Servicer.  Mortgage risk management will also include maintenance of FHA, PMI, life/disability and hazard and flood insurance escrow accounts.
  • Direct the functions of the insurance servicing in reviewing and assuring adequate insurance coverage.  Maintain force-placement of coverage as required on uninsured properties, as well as owner’s liability coverage for OREO/ISF properties.
  • Oversee adjustments of ARM portfolio to ensure timely, compliant and contractually accurate rate adjustments.
  • Direct and review proper reporting to FNMA and other investors.  Administer reporting and payments and reconciliation of participation loans and loans serviced elsewhere.
  • Prepare monthly Management Report including portfolio composition, portfolio yield analysis’s, and mortgage loan concentration report.  Report interest rate relief and sold loan income analysis directly to the Executive Committee as required.
  • Approve the discharge of mortgages.
  • Plan develop, evaluate and maintain data processing capabilities with the Bank’s service bureau and origination software vendor, as well as interfacing systems.
  • Monitor end-user activity in department and maintain security and integrity.  


  • Bachelor’s degree or equivalent industry training in accounting, real estate law, finance or business, and mortgage lending and secondary market.  
  • At least seven years of related management experience.
  • Knowledge of bank core providers.

About our Client

For the last 168 years, East Boston Savings Bank has been a leading community bank focused on delivering trustworthy banking services to communities throughout greater Boston.  With nearly 37 retail branches across greater Boston, EBSB continues to serve individuals and businesses with quality products, excellent customer service, and sound financial advice.  

The Bank currently has over $4.6B in total assets and is publicly traded on the NASDAQ Global Select Market under the ticker symbol “EBSB.”  The Bank enjoys a Return on Equity (ROE) of 9.3%, an Efficiency Ratio of 54.27%, and a Core Capital Ratio of 10.31%.

In 2017, EBSB was named as one of Massachusetts’ “Top Places to Work” by The Boston Globe.  In addition, The East Boston Savings Bank Charitable Foundation has donated over $5.5 million to charitable and community development organizations since its inception in 1998.

Account Executive:
Christopher Kelley, Partner, Financial Services