Loan Accountant

2 months ago

Olney, United States TrustBank Full time
Job DescriptionJob DescriptionDescription:

JOB DESCRIPTION



TITLE: LOAN ACCOUNTANT

DEPARTMENT: ACCOUNTING

REPORTS TO: SENIOR LOAN SERVICER/ACCOUNTING OFFICER

FLSA STATUS: NON-EXEMPT

TYPE OF POSITION: FULL-TIME, NOT REMOTE



JOB SUMMARY

This role requires the necessary skills and knowledge to manage all assigned duties of loan accounting and related customer and internal loan servicing. This position performs a variety of operational and administrative functions supporting the Loan Accounting Department. The job functions require strong customer service skills, analytical skills, problem solving, and attention to detail to navigate loan transaction detail and grasp the related accounting logic. The individual must maintain and reconcile records associated with customer loan transactions and follow internal directives on loan accounting matters in a timely and accurate manner and comply with established bank policies, procedures, and banking regulations.


DUTIES AND RESPONSIBILITIES

1. Treat all customers in a professional and courteous manner as described in the TrustBank Superior Service Commitment and execute the duties of the job within the TrustBank Values framework.

2. Assist customers and employees with any loan related questions or issues.

3. Upload and service all loans on the core banking system. Including making appropriate general ledger entries and requesting payment of invoices.

4. Maintain escrow accounts, make disbursements, conduct annual escrow analysis reviews.

5. Manage Uniform Commercial Code (UCC) Portfolio & File UCC’s (new and continuations etc. with the appropriate county or state).

6. Oversight of loan Participation relationships with other banks.

7. Review daily reports and make any necessary corrections.

8. Process miscellaneous loan payments, ACH payment requests, loan advances, and Payoff requests.

9. Monthly reporting to 3rd party vendors including but not limited to: Freddie Mac, Proctor, IAC, ARCH, SBA, etc.

10. Lease accounting and servicing.

11. Prepare reports for lenders and board of directors on a scheduled basis and ad-hoc reports as needed.

12. Monitoring of Floor plan loans ensuring collateral inventory and related values are tracked.

13. Process billings, past due and rate change notices.

14. Monitor insurance requirements for loans. Update notifications on system. Force place insurance when required.

15. Order loan coupon books.

16. Review and assign CECL/Risk ratings to new loans.

17. Provide back-up to miscellaneous Accounting Department functions.


WORKING CONDITIONS

The position is a full-time position, working a minimum of 40-hours per week. The hours are Monday – Friday, 8 AM – 5 PM. Noise levels may vary. The duties of the job may require the employee to stand, walk, use hands, and feel objects, tools, or controls, reach with hands, arms and talk or hear. Ability to lift up to 25-pounds. Vision abilities include close vision, distance vision, peripheral vision, depth perception and the ability to focus. Travel is minimal.


COMPANY BENEFITS

Competitive Compensation with discretionary year-end bonus.

• Comprehensive employee benefits, including medical, dental, vision, disability, life insurance, HSA contribution, and Section 125

• Paid vacation, sick, personal, plus federal holidays

• 401k with ESOP and a discretionary employer match in bank stock

• Tuition reimbursement


DISCLOSURES

TrustBank recognizes that people are our bank’s strength, and we place a high value on diversity and inclusion. We do not discriminate on the basis of any protected attribute, including race, religion, color, national origin, gender, sexual orientation, gender identity, gender expression, age, marital or veteran status, pregnancy or disability, or any other basis protected under applicable law. In accordance with applicable law, we make reasonable accommodations for applicants' and employees' religious practices and beliefs, as well as any mental health or physical disability needs. The best talent will acquire the position. This job description may be subject to change and is not intended to be all-inclusive. The employee may perform other related duties to meet the ongoing needs of the organization. Equal Opportunity Employer/Disability/Veterans


Updated August 8, 2024



Requirements:

EDUCATION, EXPERIENCE, and QUALIFICATIONS

Minimum of Associates Degree in Business Administration. Prefer Bachelor’s Degree in Accounting, Business, or Finance. Prior experience in loan accounting, servicing, or prior banking experience is ideal, but not necessary. Formal bank related training or certifications are helpful.


REQUIRED SKILLS AND ABILITIES

• Clear, courteous and professional communication skills in both verbal and written format.

• Friendly, accommodating, and helpful interpersonal skills and demeanor.

• Strong ability to learn and retain knowledge.

• Ability to understand related accounting and general ledger logic.

• Ability to work productively, efficiently, and independently with minimal supervisory overview.

• Multi-tasking ability with strong attention to detail and time management.

• Ability to recognize issues of significance, prioritize accordingly, and appropriately clarify.

• Must work well in a team environment executing with cooperation, professionalism, dependability, and mindfulness.


TECHNICAL SKILLS

Ability to utilize Microsoft 365 applications and collaboration tools. Specifically have strong knowledge of Excel, Word, and Outlook. Knowledge of and ability to learn the bank’s data processing system. Working experience with other specialized banking computer systems.

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