Commercial Payoff Specialist

Concord is a leading loan-servicing company with more than three decades of experience delivering high-quality solutions for originators, lenders, and capital providers across consumer and commercial markets.

Our Mission
We exist to deliver exceptional servicing outcomes for our clients and borrowers by combining deep domain expertise, robust technology platforms, and a steadfast focus on compliance, risk management, and client service. With this expanded platform, we aim to be the go-to partner across the credit lifecycle for both consumer-finance and commercial/lease portfolios.

About the Role

This is a specialized role within the organization, responsible for handling high volume loan and lease payoff requests, generating payoff statements, and providing posting instructions to the accounting department. 

This position will interface with the entirety of the Customer Success team, from payoff requests to calculation, delivery, and escalations if necessary.  You will also be responsible for tracking and managing client approval of payoff requests.

Key Responsabilities

• Reviewing contract status, documents, and contract performance to ensure payoff quotes are calculated accurately and protect the company’s financial interests.
• Regular attendance and adherence to schedule, as response times and volumes are critical.
• Reviewing all payoff letters provided for accuracy and completeness
• Coordinating with internal legal and default management teams to evaluate payoff requirements on default and delinquent contracts. (monthly non-accrual lists)
• Responding to questions and issues regarding payoff amounts or requests to clients and customers.
• Identifying incoming payoffs and providing accurate posting instructions to the accounting department.
• Participation and engagement in all “payoff task force” channels and monthly conference calls.
• Prioritizing workflow to generate all payoff related activities within required timeframes and maintain appropriate service levels.

• Review and document “as-is procedures” for all Payoff processes.
• Recommending any process changes that will increase production, customer/client satisfaction and eliminate workarounds.
• Ensuring that all automated payoff processes are working properly once implemented and meet client requirements.
• Identifying and ensuring new clients that are loaded have their procedures documented accurately for payoff servicing at the time of onboarding or conversion.
• Assisting (when instructed) or as needed in insurance payoff and insurance claim procedures as they relate to the payoff dept.
• Management of all Salesforce tasks and tickets related to payoffs for accuracy, completeness, and timeliness.
• Identifies training needs and communicates them to Lead Payoff Specialist, Senior Manager, or Director of Customer Success.
• Accountable for accuracy in all payoff work so as not to expose the company to financial risk, specifically in calculation errors, letter errors, or errors involving residual amounts owed.
• Must be able to work late from time to time and on Month End 

• Work together with the Salesforce Development team to analyze and improve systems and processes.
• Other duties as assigned.

• Minimum 3 years in Customer Success/Finance, or another related field.
• High school diploma or GED required.
• Finance industry knowledge, specifically related to data integrity, process management and ability to interpret/compile amortization schedules.
• Salesforce experience is preferred but not required.

Ability to analyze processes and information, identify problems and trends, and develop effective solutions

Preferred Qualifications

• Certified Leasing and Finance Professional (CLFP)
• Associate degree or bachelor’s degree in related field

• Food Vouchers
• Internet Bonus
• Medical Insurance
• Life Insurance
• Dental Insurance