This job has expired, please see additional jobs below
Commercial Loan Servicing Associate
Investors Bancorp
Short Hills, NJ, United States
Job Details - this job has expired, please see similar jobs below
Job Description
RESPONSIBILITIES
• Review loan documentation requests and identify any issues and take appropriate action to ensure the documentation packages are complete as per department guidelines. Responsible for inputting all relevant such as: collateral, insurance, and escrow. Manage a portfolio to book new, extensions, modification and Letters of Credit on the core processing system.
• Review and monitor London Interbank Offered Rate (LIBOR) Loans and Participation Loans for rollovers, renewals, repricing, and rate changes. The quality and control must be adhered to as review and approvals would be warranted by the Supervisor and or Manager. Create vouchers for all monetary means as part of the day to day workflow. Assist with UAT Testing for familiarization of the new deployments to be released on the core system.
• Assist internal and external customers with complex loan or escrow questions, which may pertain to loan, tax, reserve, partial collateral releases, and insurance issues; prepares necessary correspondence and provides supporting documentation.
• Researches and addresses complex and unusual loan and escrow servicing-related issues and customer complaints, forwarding only the most complex issues to the Supervisor.
• Prepare general ledger tickets to process payments, fees, payoffs and amortization according to GAAP requirement within the banks best practices.
• Review and reconcile various reports; identifies, researches and resolve errors and inconsistencies; analyzes account activity and prepare statements.
• Directs workflow and reviews junior staff work for accuracy and completeness; identifies and address the ongoing training needs to staff.
• Accurately prepare for documents to be imaged to include files and miscellaneous items.
Requirements
• Bachelor's Degree.
• Minimum of 4-6 work experience at a commercial lending institution.
• General knowledge of banking and various commercial fee based products.
• Applied knowledge of Bank policies and procedures.
• Excellent verbal communication skills, strong attenting to detail, strong organizational skills and outstanding interpersonal skills.
• Ability to work independently with good problem solving, research, and decision making abilities.
• Ability to accept and facilitate change, whether indicated by corporate needs, market or regulatory requirements.
• Experienced in handling a wide range of customer interactions including potential to handle difficult customer situations as well as explain complex loan information.
• Knowledge of Bank Secrecy Act, OFAC, and USA Patriot Act including Customer Identification Program, Customer Due Diligence when setting up CIF information related to commercial accounts and identifying high risk accounts, reporting suspicious activities to Supervisor or BSA Department.
• Ability to work with corporate support departments to ensure procedural consistency, adherence to internal controls and compliance with regulatory requirements.
DESIRED
• Ability to work as part of a team and with minimal supervision with ability to take ownership and follow through to resolution.
• Ability to multi-task.
• Ability to understand the banks loan policy and regulatory compliance.
• Understanding of the loan operations workflows and procedures impact to the business.