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Company Contact Info

  • Pasadena, CA
  • CIT

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Commercial Loan Specialist - Boarding & Servicing

CIT GROUP INC. • Pasadena, CA

Posted 2 months ago

Job Snapshot

Full-Time
Banking - Financial Services
Banking

Job Description

Overview

Founded in 1908, CIT (NYSE: CIT) is a financial holding company with approximately $50 billion in assets as of Dec. 31, 2017. Its principal bank subsidiary, CIT Bank, N.A., (Member FDIC, Equal Housing Lender) has approximately $30 billion of deposits and more than $40 billion of assets. CIT provides financing, leasing, and advisory services principally to middle-market companies and small businesses across a wide variety of industries. It also offers products and services to consumers through its Internet bank franchise and a network of retail branches in Southern California, operating as OneWest Bank, a division of CIT Bank, N.A. For more information, visit cit.com.

Responsibilities

The Specialist is responsible for boarding and servicing loans in accordance with executed Docs and Approved Credit Memorandum. The Specialist will be responsible for posting all transactions including Advances, Payments, Payoffs and all other Monetary activity.

  • Ensures loan set-up and funds are posted and reconciled to the General Ledger. Responsible for initial input and/or daily call-back to insure accuracy.
  • Review loan documents prior to boarding for completeness and accuracy. Confers with other departments and third parties as necessary.
  • Performs all loan servicing duties to include payment processing, loan disbursements, loan system support, data updates and other duties as assigned.
  • Processes Syndicated and Participated loan transactions and settles with other Banks on a daily basis. Reconciles transactions and clears outstanding wires promptly.
  • Provides timely loan customer notifications of all types (e.g. regulatory and general) and acts as first line responder to all customer inquiries and elevating difficult issues to supervisor.
  • Interfaces directly with Relationship Managers, Credit Analysts and customers to resolve loan servicing issues.
  • Assists with required bank reporting documents (quarterly impairments, TFRs, etc) as requested. Provides support for bank audits as requested.


Qualifications

  • 3+ years related experience with a commercial bank
  • Knowledge of Commercial loan servicing system such as LoanIQ is a plus
  • Strong organizational, communication, attention to detail and quality control skills.
  • Able to handle tight deadlines with competing priorities on a daily basis
  • Strong knowledge of large commercial credits and commercial real estate loans.
  • Strong knowledge of syndications and participation servicing
  • Working knowledge of financial calculations such as interest per diem

#LI-AR1

Job ID: 31115
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