Loan Processing Specialist

Loan Processing Specialist

Location: Chicago, IL

Onsite Flexibility: Hybrid 2 days in office per week are mandatory

Contract Details

• Position Type: Contract
• Contract Duration: 5 months (with potential for extension or conversion to FTE)
• Pay Rate: $30.00 $35.00 / Hour (USD)
• Shift / Schedule: 40 hours/week, 8:00 AM 5:00 PM, Monday to Friday (1 hour lunch). Overtime is normally required during month-end due to transaction volumes; additional overtime during the week may be available with manager approval.
• Work Authorization: Applicants must be authorized to work for ANY employer in the U.S. We are unable to sponsor or take over sponsorship of an employment Visa at this time.

Job Summary

The Loan Operations team is responsible for monetary transactions tied to loans, including initial loan funding, subsequent advances and payments, processing outgoing wires, and the investigation and application of incoming wires, as well as issuing cashier checks for applicable funds. The team also works internally with Deposit Operations, wire room staff, account officers, and client specialists. This position will focus specifically on processing subsequent loan advances and payments. There is no direct client contact requests are received from the front-end lines of business client specialists through a servicing queue (CWT).

The role is responsible for posting and processing complex items and investigating requests to resolve processing errors. The role works within defined parameters to prioritize the workload. The role follows defined procedures to post customer loan payments, loan advances, process wires and transfers, and verify documents, providing prompt service to internal and external clients. The role solves basic to moderately complex administrative issues, ensuring productivity standards are achieved and Service Level Agreements are met or exceeded. You will be responsible for the final step in the process of closing a loan and responsible for disbursement of funds and subsequent servicing of the loan. You'll make sure client satisfaction and productivity standards are achieved and Service Level Agreements (SLA) are met or exceeded by following well-defined procedures and guidelines and escalating issues as appropriate.

Key Responsibilities

• Process subsequent loan advances and payments
• Work requests through the servicing queue (CWT)
• Fund advance requests and debit accounts for payments
• Post customer loan payments, loan advances, process wires, and transfers
• Verify documents and provide prompt service to internal and external clients
• Perform system maintenance
• Process payoffs
• Review reports and investigate unapplied/rejected funds
• Prepare cashier's checks for loan advances
• Monitor incoming wire mailboxes
• Investigate and resolve open reconciliation items
• Complete other tasks as required within Loan Services
• Escalate issues as appropriate to ensure SLA compliance

Required Skills

• Detail oriented and organized
• Ability to work in a fast-paced environment
• Ability to balance different needs and requirements under pressure
• Multitasking

Preferred Skills

• Working knowledge of IBS (Metavante), ACBS loan system, PCFS, or other comparable loan applications
• Experience processing wire transfers

Education Requirements

• High school diploma or equivalent (required)

Required Experience

• Minimum 2 years of loan servicing experience
• Banking and banking regulations experience

Nice-to-Have Experience

• Working knowledge of IBS (Metavante), ACBS loan system, PCFS, or other comparable loan applications
• Experience processing wire transfers

Benefits

• Medical, Vision, and Dental Insurance Plans
• 401k Retirement Fund

Important Notes

• Candidates cannot start while employment history (and, if applicable, regulatory credentials) are being verified by the supplier.
• Interview process: 1 2 virtual interviews via Microsoft Teams, approximately 30 minutes in duration.

About the Client

This client is a leading financial services and banking institution operating across the U.S. and Canada, supporting enterprise-level commercial and consumer banking operations including loan servicing, treasury, and deposit operations. The organization employs thousands of professionals across business analysis, technology, operations, and financial services functions, collaborating across cross-functional teams to support large-scale banking workflows and regulatory compliance requirements.

About GTT

GTT is a minority-owned staffing firm and a subsidiary of Chenega Corporation, a Native American-owned company in Alaska. We highly value diverse and inclusive workplaces and support Fortune 500 organizations across banking, financial services, technology, life sciences, biotech, utilities, and retail sectors throughout the U.S. and Canada.

Job Number: 26-13447

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