Commercial Loan Operations Specialist III

JOB DESCRIPTION

Position Title: Commercial Loan Operations Specialist III - Loan Servicer

Location:

Eligibility for Remote:

Reports To: Vice President Corporate Banking Loan Operations

Job Group Category: Exempt

Grade:

Job Posting:

A Loan Servicer is responsible for servicing a highly complex loan syndication and commercial loan portfolio. This position requires a comprehensive understanding of syndicated loan servicing and other complex commercial loan structures. This individual is responsible for processing all servicing transactions which includes draws, payments, fees, account maintenance and client billing. In addition, a Loan Servicer is responsible for overseeing various aspect of their assigned client list which includes but not limited to monitoring rate maturities, rate resets, transaction notices to other lenders, spread changes, billing adjustments, income adjustments, past due monitoring and substation, borrowing base calculations, syndication loan settlement, reconciliations, data quality, and keeping the Relationship Manager informed of account issues as they arise.

How You will Make an Impact

(Principal Duties and Responsibilities):

• Read and interpret complex loan agreements to understand and ensure their loan portfolio is serviced according to the terms and conditions outlined in the agreement.
• Must be able to calculate complex interest structures that include SOFR base rates with credit spread adjustments, skims and PIK interest components.
• Must have a strong understanding of base rate functionality such as SOFR, credit spread adjustments, floors, margins, rate maturities, rate resets, and rollovers to properly manage interest accruals and client billings.
• Have the ability to research and problem solve out of balance conditions or billing discrepancies.
• Must have excel skills to perform calculations outside of the system to demonstrate problem resolution and communicate to clients and other lenders the correct calculations and adjustments to income when necessary.
• Must have the ability to independently oversee all aspects of loan servicing for their assigned client list/portfolio.
• Oversee past due reporting on assigned portfolio and substantiate amounts reported. Escalate past due to relationship manager.
• Work reconciliations and clear transactions.
• Peer transaction review and approval.
• Review and manage data quality reports for assigned portfolio to manage data quality.
• Monitor assigned work queues to ensure performance is within service level agreement.
• Contribute to the development and implement tools and procedures to aid in the flow of loan servicing activities.
• Consistently exercise strong judgment around loan and client servicing.
• Communicate effectively upward and downward, and with other financial institutions.
• Perform duties within internal control guidelines.
• Escalate potential client issues to relationship manager and servicing manager timely.

Who You Are

Job Specifications (Knowledge, skills, and abilities normally required for competent performance in the job) May also include: Personal characteristics of a successful candidate (Task-oriented, independent worker, assertive, creative, etc.

• College degree preferred in Banking & Finance or Accounting
• Minimum 2 years experience in syndicated loan servicing or commercial loan servicing
• CLS (f.k.a) ACBS loan system knowledge preferred
• Regular and reliable attendance
• Results oriented and detailed driven
• Operates with a sense of urgency
• Ability to read and interpret complex loan agreements and assess system functionality to service complex credits
• Good understanding of loan accounting and revenue recognition requirements in accordance with GAAP
• Excellent communication skills, written and verbal
• Must be able to communicate upward and downward, and other financial institutions
• Critical thinking and problem solving skills
• Ability to make independent decisions daily
• Strong sense of internal controls
• Customer service focused

If your experience aligns with this description, please consider applying. Many skills are transferable among industries and a passion for the role and willingness to learn are important considerations. We believe that a diverse workforce creates problem-solving and creative thinking, which is why we're dedicated to adding new perspectives to the team and encourage everyone to apply.