COMMERCIAL LOAN ACCOUNTING SPECIALIST

OSP LP•Tampa, FL

9d•Onsite

About The Position

Responsible for administering a portfolio of performing and distressed commercial loans of varying complexity and collateral types. Primary responsibilities include commercial loan payment processing, escrow administration, and property tax and insurance monitoring, while ensuring compliance with loan documents and client requirements.

Requirements

Minimum 2+ years of experience in commercial loan administration or servicing (commercial banking or finance preferred).
Experience with commercial loan servicing systems; Nortridge Loan System experience preferred.
Working knowledge of commercial loan documentation, including promissory notes, mortgages, loan agreements, and security agreements.
Proficiency in Microsoft Excel, Word, and Outlook.
Exceptional attention to detail and organizational skills.
Strong analytical and problem-solving abilities.
Ability to think critically and evaluate broader impacts of decisions.
Professional verbal and written communication skills.
Ability to perform at a high level with limited supervision and meet deadlines in a fast-paced environment.
Ability to work both independently and collaboratively within a team.
Flexibility to manage shifting priorities and varied responsibilities.

Nice To Haves

Nortridge Loan System experience preferred.

Responsibilities

Process and post daily loan payments received via lockbox, ACH, check-by-phone, wire, and mail.
Research and resolve payment discrepancies, lockbox rejections, insufficient funds, and balancing issues.
Board ACH records and establish recurring drafts.
Perform daily cash balancing and system reconciliations.
Monitor system reports, rate changes (including variable indices), and covenant compliance.
Reconcile and reconstruct loan histories to validate unpaid principal balances and interest accruals through a specified date.
Process loan payoffs, including notifications, collateral releases, system closeout, and borrower deliverables.
Process accounts payable transactions and ensure timely vendor payments and accurate borrower postings.
Coordinate transfers to and from reserve and cash management accounts.
Establish, maintain, and reconcile escrow accounts in accordance with loan documents.
Perform escrow analyses to ensure sufficient funds for property tax and insurance payments.
Monitor escrowed and non-escrowed loans to confirm timely payment of taxes and insurance.
Identify and report delinquencies or documentation deficiencies to Asset Management and clients.
Prepare shortage and compliance correspondence when necessary.
Coordinate with borrowers, insurance agents, Asset Management, clients, and third-party tax vendors to resolve discrepancies.
Review and distribute vendor reports and maintain tracking ticklers for compliance.
Interpret loan and collateral documents (notes, mortgages, loan agreements, security agreements) to ensure accurate system setup and ongoing compliance.
Maintain organized commercial loan credit and collateral files.
Identify inconsistencies, errors, potential defaults, or unique loan terms requiring special handling, and escalate appropriately.
Adhere to established client timelines and departmental deadlines.