Loan Operations Manager

4 weeks ago

Chicago, United States International Bank of Chicago Full time
Job DescriptionJob Description

Summary: We are seeking a Loan Operations Manager to be a part of our team The Loan Operations Manager is responsible for the management of the Loan Operations Department. This individual ensures the overall performance of the daily functions associated with processing and servicing commercial, mortgage, and consumer loans. Also, this individual will recommend process improvements to Senior Management to increase efficiency in the servicing of the bank’s loan portfolio.

Essential Duties and Functions:

  • Organize the workload and ensure timely and accurate completion of assigned responsibilities within the Loan Operations team.
  • Responsible for developing, implementing, accessing, and monitoring processes and procedures within the department to reduce the bank’s exposure to operational risk.
  • Manage and monitor the escrow analysis and payment of real estate taxes and insurance for escrowed accounts.
  • Performs quality control of work performed by the Loan Operations team.
  • Review daily system reports and ensure daily balancing of accounts.
  • Handle the hiring, coaching, developing, and supervision of non-exempt production, servicing, and administrative support staff.
  • Responsible for interaction with different departments within the bank.

Essential Duties and Responsibilities:

  • Management of the bank’s Loan Operations function with the primary focus on commercial loans;
  • Ensure support personnel are kept abreast of compliance issues;
  • Verify that the Loan Administration team books new credit, renewal, and extension credit properly in the JHA system and Loan Administration system, including borrowers/guarantors, collaterals, credit grading, time-sensitive tickers, watch/alert, payment methods, BEA, and other monitoring indicators;
  • Serve as departmental contact for core system provider and other vendors related to loan systems;
  • Ensure the Loan Administration team maintains proper coupon, billing profiles, ACH, and AFT records for borrower payment for their credits;
  • Monitor and manage property tax status for both escrowed and non-escrowed real estate collaterals to protect collateral integrity and the bank’s asset quality;
  • Ensure proper payments to escrowed collateral property tax and insurance;
  • Confirm that all collateral is retained, secured, and recorded, as needed;
  • Provide support of reports for management and board of directors of the lending portfolio information;
  • Provide support in bank internal operation audit, external loan review, and regulatory examination; and
  • Serve as a subject matter expert on all projects which impact the lending function of the bank.

Qualifications and Requirements:

  • College degree and/or equivalent work experience in Loan Operations Management.
  • Seven (7) years of proven work experience in Loan Operations Administration and Management.
  • Complete knowledge of loan servicing functions and related requirements and procedures.
  • Analytical and problem-solving skills.
  • Knowledge of regulatory requirements.
  • Strong organizational and time management skills with the ability to prioritize assignments.
  • Experience with Jack Henry (JHA) core system is a requirement.
  • Ability to interact professionally and tactfully with employees at all levels within the organization.
  • Excellent written and verbal communication skills; decision-making skills and sensitivity when dealing with confidential information.
  • Proficient with Microsoft Office Suite (Excel, Outlook, and Word).

International Bank of Chicago is an Equal Opportunity Employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, national origin, sexual orientation, gender identity, disability, protected veteran status, or any other characteristic protected by state, federal, or local law.

 

Company DescriptionInternational Bank of Chicago is a privately owned local community bank providing a full array of banking services through its five Chicagoland locations along with a branch located in Port Jervis, New York. The Bank was founded in 1992 as a minority deposit institution (MDI) and is currently the largest MDI in Chicago with ±120 employees supporting over $950MM in total assets.

The Bank has the distinction of being certified as a Community Development Financial Institution (CDFI). With a CDFI designation, the Bank not only focuses its attention on serving the local communities, families, and small businesses, but has a mission of specializing in providing financial products and services to those within underbanked and economically distressed communities. The Bank is the only MDI and CDFI bank in Chicago.Company DescriptionInternational Bank of Chicago is a privately owned local community bank providing a full array of banking services through its five Chicagoland locations along with a branch located in Port Jervis, New York. The Bank was founded in 1992 as a minority deposit institution (MDI) and is currently the largest MDI in Chicago with ±120 employees supporting over $950MM in total assets.\r
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The Bank has the distinction of being certified as a Community Development Financial Institution (CDFI). With a CDFI designation, the Bank not only focuses its attention on serving the local communities, families, and small businesses, but has a mission of specializing in providing financial products and services to those within underbanked and economically distressed communities. The Bank is the only MDI and CDFI bank in Chicago.

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