Loan Servicing Specialist IV
3 weeks ago
The Loan Servicing Specialist IV is a critical role within the Loan Servicing team at East West Bank. This position is responsible for the more complex activities within Loan Servicing, including research and compliance with applicable laws and regulations.
Key Responsibilities- Process Commercial Loan Advances on Commercial and Industrial Loans and Specialty Financing, ensuring advance requirements have been met and funds are available with proper signing authority by reviewing the Business Loan Agreement.
- Monitor LIBOR, or other Index, repricing and quote rate and reset the rates on the loan system, ensuring proper effective dates based on the Notes and Loan Agreement.
- Process Commercial Loan Payments and loan recoveries.
- Process all Trade Finance Activities on the Commercial Loan system, including Advances, Letters of Credit, Trust Receipts, Bankers Acceptances, etc., ensuring proper availability and credit approval.
- Set up Collateral Record on Cash Secured letters of credit and place hold on Deposit Account.
- Process Interest Reserve payments on Construction Loans.
- Process Commercial Loan Demand Statements, ensuring all principal and interest are included and inclusive of all appropriate fees.
- Process Commercial Loan Payoffs and closing of commitments.
- Prepare Wire Instructions and input into the Wire System and/or Credit Funds to the borrowers deposit account.
- Process miscellaneous maintenance transactions.
- May process Specialty Servicing activities, such as Equipment Leasing, Insurance Premium portfolio.
- Perform End-of-Day balancing, ensuring all activities are reconciled with the General Ledger.
- Respond to internal customer inquiries.
- Provide guidance and training to junior Loan Servicing Specialist.
- Work on special projects as assigned by Manager related to the Data Accuracy and accurate compliance requirements.
- Bachelor Degree in Finance or Accounting Degree preferred, or equivalent work-related experience.
- Minimum 7 years of experience in the Loan Servicing Industry.
- Knowledge of BSA/AML/OFAC Laws/Regulations, understand how these obligations relate to his/her role, and comply with these laws and regulations.
- Knowledge of Credit Bureau Reporting.
- Loan system experience required.
- Proficient in Microsoft Office with advanced Excel skills required.
- Excellent written and verbal communication skills required.
- Good organizational, analytical, and problem-solving skills.
- Ability to handle multiple tasks with excellent attention to detail.
- Ability to organize and maintain a high volume work environment.
- Ability to adapt quickly to changes and perform in a fast-paced environment.
- Ability to build effective relationships as needed to effectively address issues and obstacles.
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