Loan Processor I

4 weeks ago

Los Angeles, United States CFA Institute Full time

LOAN PROCESSOR I WHAT IS THE OPPORTUNITY? This position is responsible for reviewing, boarding and funding loans and renewals from loan agreements. Responsibilities include reviewing all requests for boarding and funding, processing advances, payments and payoffs on various loan products, setting up and maintaining Guarantor records on the loan system, and calculating and adjusting interest and fee accruals. Balances work and prepares appropriate general ledger entries to various cost centers as required. What you will do Boards new loans and processes renewals from loan agreements, note and other loan documents. Completes data entry and processes appropriate general ledger entries with corresponding offsets. Sets up customer account, commitment and note record on the loan system. Processes initial funding as requested and accounts for collection of fees and charges as applicable, including but not limited to, unused commitment fees, usage fees, etc. Reviews all legal documentation prior to boarding and funding. Processes production loans with interest reserve. Maintains Guarantor records on the loan system and performs all maintenance work relating to loans as required. Balances daily financial transactions on-line from the system of record. Ensures entered transactions including offset entries are balanced compared to system calculated totals. Ensures receipt and verification of proper approvals prior to processing waivers and any unusual transactions. Maintains waiver approval file. Calculates and processes accrual and fee adjustments and any other reconcilement work that is assigned. Reviews and processes exception reports on a periodic basis. Identifies and resolves any payment processing or reconcilement problems. Determines causes of rejected items, resolves problems and corrects rejects based on established Bank policies. Sends outgoing wires using wire/TNET software. Maintains a proactive commitment to established bank programs, such as Community Reinvestment Act (CRA) and Affirmative Action. Complies fully with all Bank Operational and Credit policies and procedures as well as all regulatory requirements (e.g. Bank Secrecy Act, Know Your Client, Community Reinvestment Act, Fair Lending Practices, Code of Conduct, etc.). Completes all special projects as requested. Must-Have* H.S. Diploma Minimum of 1 year loan processing experience in a financial institution required. Minimum 2 years of basic computer experience (e.g. Microsoft Word, Excel, Outlook) required. Skills and Knowledge Ability to interact effectively with all levels of Bank personnel. Must be able to multi-task and handle a heavy volume of transactions. Basic computer knowledge and general office equipment knowledge required. Knowledge of M&I Loan System and AFS preferred. Compensation Starting base salary: $18.39 - $27.62 per hour. Exact compensation may vary based on skills, experience, and location. This job is eligible for bonus and/or commissions. *To be considered for this position you must meet at least these basic qualifications The preceding job description has been designed to indicate the general nature and level of work performed by employees within this classification. It is not designed to contain or be interpreted as a comprehensive inventory of all duties, responsibilities, and qualifications required of employees assigned to this job. Benefits and Perks At City National, we strive to be the best at whatever we do, including the benefits and perks we offer our colleagues. Get an inside look at our Benefits and Perks. INCLUSION AND EQUAL OPPORTUNITY EMPLOYMENT City National Bank is an equal opportunity employer committed to diversity and inclusion. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, veteran status or any other basis protected by law. ABOUT CITY NATIONAL We start with a basic premise: Business is personal. Since day one we've always gone further than the competition to help our clients, colleagues and community flourish. City National Bank was founded in 1954 by entrepreneurs for entrepreneurs and that legacy of integrity, community and unparalleled client relationships continues to drive phenomenal growth today. City National is a subsidiary of Royal Bank of Canada, one of North America's leading diversified financial services companies. #J-18808-Ljbffr

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