About Byline Bank
Headquartered in Chicago, Byline Bank, a subsidiary of Byline Bancorp, Inc. (NYSE:BY), is a full-service commercial bank serving small- and medium-sized businesses, financial sponsors and consumers. Byline Bank has approximately $9.9 billion in assets and operates over 40 branch locations throughout the Chicago and Milwaukee metropolitan areas. Byline Bank offers a broad range of commercial and community banking products and services, including small-ticket equipment leasing and U.S. Small Business Administration loans. Byline Bank is a member of FDIC and an Equal Housing Lender.
At Byline Bank, we take pride in being an award-winning workplace. Some of our recent recognitions include:
- U.S. News & World Report’s Best Companies to Work for in the Midwest 2024-2025, 2025-2026 and Best Companies to Work for in Finance and Insurance & Overall 2025-2026.
- Newsweek’s America’s Greatest Midsize Workplaces for Women 2026
- Best Companies Group’s Best Remote and Hybrid Workplaces in America 2026
- Chicago Sun Times Chicago’s Best Workplaces 2024, 2025
- Best Companies Group and Illinois SHRM (Society for Human Resource Management) Best Workplaces in Illinois 2024, 2025, 2026
By joining our team, you will become part of an organization that values growth, collaboration, and innovation. We strive to create an environment where employees feel supported and are empowered to excel in their roles. If you're looking for a career with a company that puts people first and makes a difference in the communities we serve, Byline Bank is the place for you.
Objective Of Position
The Escrow Specialist supports loan servicing operations by managing escrow-related activities, including real estate tax payments, insurance premium disbursements, flood monitoring, escrow analysis, and PMI reviews. The position also serves as a liaison between Byline, vendors, agencies, borrowers, and internal stakeholders to maintain effective servicing levels and support overall loan operations.
Duties And Responsibilities
- Manages escrow servicing functions, including real estate tax payments, insurance premium disbursements, flood monitoring, and force-placed insurance administration.
- Performs escrow annual analysis and Private Mortgage Insurance (PMI) reviews to ensure account accuracy and regulatory compliance.
- Maintains and updates the servicing system to reflect the status of collateral, insurance, and tax information.
- Monitors and process disbursements for real estate taxes and insurance premiums for escrowed loan accounts.
- Verifies non-escrowed loans have adequate insurance coverage and that real estate taxes are satisfied.
- Reviews residential and commercial property insurance policies, liability insurance policies, and operating statements to ensure compliance with internal policies and procedures.
- Research delinquent real estate taxes on non-escrowed accounts and take corrective action.
- Coordinates with tax agencies to obtain real estate property tax information and resolve discrepancies.
- Supervises force-placed insurance coverage, premiums, and payment disbursements required due to borrower non-compliance.
- Administers casualty loss claims incurred for commercial or residential properties.
- Ensures compliance with the Flood Disaster Protection Act (FDPA) for real estate-secured loans located in special flood hazard areas.
- Collaborate with internal or external customers, agents, and vendors to resolve issues or discrepancies related to real estate taxes, escrow, and insurance.
- Assists in the preparation of monthly metrics for the Loan Operations Department.
- Supports bank-wide initiatives.
- All other duties as assigned.
Note: Nothing in this job description restricts management’s right to assign or reassign duties and responsibilities to this job at any time.
Qualifications
- Associate’s degree required; bachelor’s degree in Business Administration, Accounting, Finance, or a related field preferred.
- 3+ years of Escrow Services and/or Loan Servicing experience.
- Experience in Financial Industry preferred.
- Knowledge of Home Lending Products.
- Knowledge of Regulatory, Investor, and Compliance guidelines.
- Detail oriented and the ability to maintain a high level of accuracy.
- Strong analytical and problem-solving skills.
- Be a strategic thinker with the ability to develop, communicate and implement plans that support the overall goals of the Bank.
- Ability to work collaboratively with a variety of stakeholders at all levels.
- Be self-motivated with effective time management and a strong attention to detail.
- Demonstrates strong change management, organization, and planning skills.
- Strong organizational skills with the ability to directly manage and communicate multiple projects and priorities depending on organizational needs and strategies.
- Proficiency in MS Office Suite.
- Exceptional written and verbal communication skills.
Physical Demands/Work Environment
Usual office environment with frequent sitting, walking, and standing, and occasional climbing, stooping, kneeling, crouching, crawling, and balancing. Frequent use of eye, hand, and finger coordination enabling the use of office equipment. Oral and auditory capacity enabling interpersonal communication as well as communication through automated devices.
At Byline Bank, we value work-life flexibility and support a hybrid work environment for this position. This role allows for a combination of remote and in-office work, with occasional visits to the office based on business needs. Specific in-office days may vary and will be discussed during the interview process.
Byline Bank offers competitive industry rate salary bands with the goal of retaining and growing talented individuals. We regularly review and adjust our compensation structure as needed to ensure equity across teams and levels.
The hourly rate for this position is $29.32 to $36.53
Pay is based on several factors including but not limited to education, work experience, certifications, etc. In addition to your salary, Byline Bank offers benefits such as, a comprehensive benefits package, incentive and recognition programs, equity stock purchase and 401k contribution (all benefits are subject to eligibility requirements). No matter where or when you begin a career with Byline Bank, you’ll find a far-reaching choice of benefits and incentives.
Additional Information
Byline Bank is an Equal Opportunity Employment / Affirmative Action employer dedicated to providing an inclusive workplace where the unique differences of our employees are welcomed, respected, and valued. We are committed to the principle of equal employment opportunity for all employees and to providing employees with a work environment free of discrimination and harassment.
All employment decisions at Byline Bank are based on business needs, job requirements and individual qualifications, without regard to race, color, religion or belief, national, social or ethnic origin, sex (including pregnancy), age, physical, mental or sensory disability, HIV Status, sexual orientation, gender identity and/or expression, marital, civil union or domestic partnership status, past or present military service, protected veteran status, family medical history or genetic information, family or parental status, or any other status protected by the laws or regulations in the locations where we operate. Byline Bank will not tolerate discrimination or harassment based on any of these characteristics.
Byline Bank is committed to providing reasonable accommodations for candidates with disabilities in our recruiting process. If you need any assistance or accommodations due to a disability, please contact us directly at 773-475-2900, Option #2.
If applying within the US, this role is not eligible for visa sponsorship now or in the future.
Note To Recruitment Agencies And Third-Party Recruiters
Byline Bank kindly requests that third-party recruiters, staffing agencies, and recruitment firms refrain from submitting resumes or candidate profiles without a prior agreement in place. Any unsolicited submissions will be considered property of Byline Bank, and no fees will be paid for placements resulting from such submissions. We appreciate your understanding and cooperation.
