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10 May 2022

Full-Time Default Management Assistant I (Req#934)

Eastern Bank – Posted by Easternbk Lynn, Massachusetts, United States

Job Description

The Default Management Assistant I will support the Default Management Team while being responsible for the administrative support, document production to support both Consumer and Small Business workouts, litigation support, loan maintenance, customer service, research, Sales Management, Archer and nCino reporting.  The Default Management Assistant I will assist with special projects and provide input and support as needed.

The Default Management Assistant I must have the ability to work independently and to consistently demonstrate the ability to balance multiple assignments and priorities.  Possess strong communication skills, both written and verbal and have the interpersonal skills needed for a positive team environment. Must work within the boundaries of the division and bank’s policies and procedures.

Major responsibilities include but are limited to:


  • Utilizes systems, procedural, operational and enterprise expertise to facilitate legal referrals and business and consumer workout requests.
  • Works closely with and maintains strong productive relationships with Loan Operations, Deposit Operations, SBA Team, Business Banking, Consumer Lending and the Business and Customer Service Centers to ensure rapid and positive issue resolution.


  • Perform loan maintenance as required. Maintenance will include participation settlements, loan payment adjustments, wires, pay-offs and pay-downs, partial releases, settlements, SBA purchase guarantees, bankruptcy, foreclosures, repossessions, loan modifications and TDR reporting.
  • Ensures that documentation is sent to the appropriate internal and external departments.


  • The Default Management Assistant I will work with the Management Team to ensure that all required documentation, both loan and deposit are returned and processed as required within the appropriate timeframe.


  • Is responsible for maintaining Chex Systems overdrawn deposit accounts ensuring that all bank procedures are adhered to and payments are posted accurately and timely. In the event of fraud, works with Security,
  • The Business Service Team and Deposit Operations to ensure accurate reporting, and/or the re-opening of customer deposit accounts.
  • Research customer delinquencies and aged overdrafts and performs the necessary corrective maintenance to eliminate the cause should problems be the result of internal or systematic errors.


  • Serves as the primary contact with the Loan Production Group and Loan Operations ensuring that all deferments and modifications are processed, and set-up as intended advising the support areas as required.


  • Maintains accurate records on a monthly basis to assist in the preparation of divisional month end reporting, charge-off reconciliation, and the balancing of various G/Ls.
  • Various administrative duties as required, i.e., mail and payment processing, meeting organization, department scheduling, ordering of office supplies, making copies, etc.
  • Tracks and processes all invoices and expenses related to the DM group.

Education and Experience

  • Bachelor’s degree or related knowledge/skills gained through experience required
  • 1 – 2 years of loan experience preferred


  • Knowledge of commercial and consumer banking compliance and regulations
  • Knowledge of general banking operations and activities
  • Must be able to work independently with little direction
  • Strong communication, organizational, writing, and interpersonal skills required
  • Working knowledge of the following programs:
  • Microsoft Office (Excel/Word/Outlook/PowerPoint/Teams)
  • Metavante Insight/FIS
  • Working Conditions
  • Standard Office
  • Some travel may be required between office sites for training, meetings and to foster a greater degree of teamwork.
  • Remote opportunity 2 days per week

How to Apply

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Job Categories: Equal Opportunities. Job Types: Full-Time. Job Tags: #ConsumerSalesandService and Banking. Salaries: Not Disclosed.

Job expires in 33 days.

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