Loan Processing Specialist

Our client, a Commercial Banking company, is looking for a Loan Processing Specialist for their Chicago, IL/Hybrid location.

Responsibilities:

• 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 issuing cashier check for applicable funds.
• Team also works internally with Deposit Operations, wire room staff, account officers, and client specialist.
• 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 specialist through a servicing queue (CWT).
• The processors are divided between seven commercial processors and 2 consumer processors. Team members may be cross-trained on commercial and consumer work, particularly for initial loan funding activities.
• The team is close-knit, with many members having worked together for several years.
• The environment requires frequent communication, multitasking, and collaboration.
• Highlights of the role; why would someone choose this role over another This role provides an opportunity to gain hands-on experience within Loan Operations and work directly with loan advances, payments, and monetary transactions.
• The successful candidate will join an experienced, close-knit, and collaborative team that communicates effectively and supports one another in a fast-paced environment.
• Who Will the Candidate Be Working with on a Daily Basis? Team Lead and Processors
• 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 payment, loan advances, processing 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. Duties include processing payments, advances, performing system maintenance, processing payoffs, reviewing reports and investigating unapplied/rejected funds, preparing cashier's checks for loan advances, monitoring incoming wire mailboxes, investigate/resolve open reconciliation items and other tasks as required within Loan Services. 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.

Requirements:

• How many years of experience 2+ years
• 2+ of loan servicing experience
• Banking and banking regulations experience
• High school diploma, or equivalent.
• Have working knowledge of IBS (Metavante), ACBS loan system, PCFS, or other comparable loan applications
• Experience processing wire transfers
• Detail oriented and organized
• Ability to work in fast paced environment
• Balancing different needs and requirements under pressure
• Multitasking

Why Should You Apply?

• Health Benefits
• Referral Program
• Excellent growth and advancement opportunities